About This Chapter
Who's it for?
This unit of our AP Macroeconomics Homeschool course will benefit any student who is trying to learn about well-known terms that are related to macroeconomic equilibrium and business cycles. There is no faster or easier way to learn about macroeconomic equilibrium. Among those who would benefit are:
- Students who require an efficient, self-paced course of study to learn about full employment, inflation, economic depressions, recessions and the gross domestic product.
- Homeschool parents looking to spend less time preparing lessons and more time teaching.
- Homeschool parents who need an economics curriculum that appeals to multiple learning types (visual or auditory).
- Gifted students and students with learning differences.
How it works:
- Students watch a short, fun video lesson that covers a specific unit topic.
- Students and parents can refer to the video transcripts to reinforce learning.
- Short quizzes and a macroeconomic equilibrium unit exam confirm understanding or identify any topics that require review.
Macroeconomic Equilibrium Unit Objectives:
- Learn about the real gross domestic product and the nominal gross domestic product.
- Define expansionary gap and contractionary gap.
- Discuss economic growth and the full-employment gross domestic product.
- Explain the business cycle and the effects of inflation on economic fluctuations.
- Make comparisons between a depression and a recession.
1. Real Output, Price Level and the Real Gross Domestic Product
GDP is an important economic indicator, and it must be understood to be analyzed. In this lesson, you'll learn how price levels impact output and GDP and how real GDP can be calculated.
2. Full Employment GDP: Definition and Examples
In this lesson, you'll learn about an economy that is in balance. The full employment level of GDP is when economic output is at its highest sustainable level, when unemployment is at its most efficient level and when inflation is neither rising nor falling.
3. The Business Cycle: Economic Performance Over Time
Learn the economic terms that describe economic performance over time and how indicators such as unemployment and inflation behave throughout these economic fluctuations.
4. Recession vs. Depression: Definitions and Differentiation
Discover the real differences between recession and depression, including how economists actually define the two terms and when they have happened in the past.
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Other chapters within the AP Macroeconomics: Homeschool Curriculum course
- Scarcity, Choice & Production Possibilities Curve: Homeschool Curriculum
- Comparative Advantage, Specialization & Exchange: Homeschool Curriculum
- Demand, Supply & Market Equilibrium: Homeschool Curriculum
- Measuring the Economy: Homeschool Curriculum
- Inflation Measurement & Adjustment: Homeschool Curriculum
- Understanding Unemployment: Homeschool Curriculum
- Inflation and Unemployment: Homeschool Curriculum
- Aggregate Demand and Supply: Homeschool Curriculum
- Economic Growth and Productivity: Homeschool Curriculum
- Money, Banking and Financial Markets: Homeschool Curriculum
- Central Bank and the Money Supply: Homeschool Curriculum
- Fiscal and Monetary Policies: Homeschool Curriculum
- Foreign Exchange & Balance of Payments: Homeschool Curriculum
- Inflows, Outflows and Restrictions: Homeschool Curriculum