About This Chapter
Overview of Macroeconomics - Chapter Summary
Our instructors provide an overview of macroeconomics in this engaging chapter. When you work through these lessons, you can study the business cycle and increase your understanding of aggregate supply and demand. After completing this chapter, you should be ready to:
- Outline the effects of fiscal policy
- Identify different types of banking systems
- Explain the role and effects of monetary policy
- Discuss the politics and economics of international trade
- Detail how the exchange rate is converted across countries
- Define economic growth and its impact
- Describe how productivity and the economy are interconnected
- Outline goods markets and financial markets
These helpful lessons and quizzes are designed by experienced instructors so you can feel confident you're learning the most accurate information possible in a user-friendly way. As you watch a video lesson, use the video tabs feature to go back and review topics or skip ahead to subjects you know you need to focus on. If you need any assistance along the way, feel free to contact one of our instructors for help.
1. 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.
2. Understanding Aggregate Supply & Demand
In this lesson, we explore aggregate supply and aggregate demand. In addition, we discover how economists represent these terms on a graph, using the AS/AD model.
3. What is Fiscal Policy? - Definition, Effects & Example
Government taxing and spending has broad implications for the overall economy. In this lesson, you'll learn about fiscal policy, what it is and how it affects the economy.
4. Banking System: Definition & Types
Banks are a huge part of our lives. In this lesson, we will explore the banking system. We will learn about different types of banks as well as how they each function.
5. What is Monetary Policy? - Definition, Role & Effects
National governments have a couple of tools they can use to steer an economy. Monetary policy is one of those tools. In this lesson, you'll learn what monetary policy is and discover its role and its effects. A short quiz follows the lesson.
6. The Economics & Politics of International Trade
We will discuss the economics & politics of international trade through the definition of open trade and its benefits and drawbacks. In addition, the ideas of competitive advantage and political patience will be shown as key indicators of global success.
7. Exchange Rate: Determination and Conversion Across Countries
Understand what exchange rates are and the different types that can be used by governments and countries. See how they operate and how the conversion process works across countries.
8. What is Economic Growth? - Definition, Theory & Impact
How do we measure and explain economic growth? This lesson will go through the various theories of economic growth which all try to explain how a country continues to increase production.
9. Productivity: The Economy's Long-Run Growth Engine
Using real-world examples, you'll learn more about what productivity is and four things that determine it within a nation - physical capital, technology, human capital, and natural resources.
10. Financial Markets & Goods Markets
Learn about two of the biggest markets in most economies; the financial and goods markets. Find out what financial markets are and the purpose they serve. Explore the stock market and bond market and see how they are different than the goods market.
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