Universal Economic LearningPath©

What Is Economics (Introduction)

Scarcity

• 1.1.1

Methodology

• 1.2.1
• 1.2.2

Appendix - Review of Graphing Concepts

• 1A.1
• 1A.2
• 1A.3
• 1A.4

Production Possibilities & Gains from Trade

Production Possibilities Frontiers (Curves)

• 2.1-1
• 2.1-2
• 2.1-3

Specialization and Gains from Trade

• 2.2-1
• 2.2-2
• 2.2-3

Supply and Demand

Demand

• 3.1-1
• 3.1.2
• 3.1.3
• 3.1-4
• 3.1-5

Supply

• 3.2-1
• 3.2-2
• 3.2-3
• 3.2-4
• 3.2-5

Putting Supply and Demand Together

• 3.3-1

Comparative Statics

• 3.4-1
• 3.4-1 (3.4-2?)

Government Interference in Markets

Price Restrictions

• 4.1-1
• 4.1-2

Quantity Restrictions

Taxes

• 4.3-1

Externalities

Negative Externalities

• 14.1-1

Positive Externalities

• 14.2-1

Internalizing an Externality

• 14.3-1
• 14.3-2

Coase Theorem

• 14.4-1
• 14.4-2
• 14.4-3

Public Economics

Public Goods

• 15.1-1

Public Choice Theory

• 15.2-1
• 15.2-2

National Income Accounting

What Is GDP

• 16.1-1
• 16.1-2

The Expenditure Approach

• 16.2-1

The Income Approach

• 16.3-1

Real GDP

• 16.4-1
• 16.4-2

Other National Income Measures

Is GDP a Good Measure for Happiness?

• 16.6-1

Inflation

The Consumer Price Index

• 17.1-1

Calculating the Rate of Inflation

• 17.2-1
• 17.2-2

Using the CPI to Examine Dollar Values over Time

The Costs of Inflation

Business Cycles & Unemployment

Business Cycles

• 18.1-1
• 18.1-2

Basic Definitions of the Labor Force and Unemployment Rate

• 18.2-1

Types of Unemployment

• 18.3-1

The Natural Rate of Unemployment

• 18.4-1

Causes of Unemployment

• 18.5-1
• 18.5-2
• 18.5-3
• 18.5-4

Economic Growth

Measures of Growth

• 19.1-1

Growth Rates around the World

• 19.2-1
• 19.2-2

Policies to Promote Growth

• 19.3-1

Money and the Banking System

Functions of Money

Money Supply

• 20.2-1

Banks and the Money Multiplier Process

• 20.3-1
• 20.3-2

The Federal Reserve System

• 20.4-1
• 20.4-2

Tools of the Fed

• 20.5-1

The Money Market

The Demand for Money

• 21.1-1

The Supply of Money

• 21.2-1

Equilibrium in the Money Market

• 21.3-1

The Effects of Changes in Federal Reserve Policy on the Money Market

Aggregate Demand & Aggregate Supply

Aggregate Demand

• 22.1-1
• 22.1-2

Short-Run Aggregate Supply

• 22.2.1

Short-Run Macroeconomic Equilibrium

• 22.3-1

The Long-Run Aggregate Supply Curve

• 22.4-1

Long-Run Macroeconomic Equilibrium

• 22.5-1
• 22.5-2

The Classical Model

Say's Law

• 23.1-1

Assumptions of the Classical Model

The Self-Regulating Economy in the Long Run

• 23.3-1
• 23.3-2

The Quantity Theory of Money

• 23.4-1

The Keynesian Model

Criticisms of the Classical Model

• 24.1-1

Consumption and Savings

• 24.2-1
• 24.2-2

The Total Expenditure Model

• 24.3-1

Equilibrium in the Keynesian Model

• 24.4-1
• 24.4-2
• 24.4-3
• 24.4-4

Keynesian Equilibrium in the AD/AS Framework

Fiscal Policy and the Government Budget

Discretionary Fiscal Policy

• 25.1-1

Automatic Stabilizers

• 25.2-1

Problems with Fiscal Policy

• 25.3-1

The Government Budget

• 25.4-1
• 25.4-2

Deficits and Debt

• 25.5-1

Monetary Policy

Monetary Policy Effects on Output and Prices in the Short-Run

• 26.1-1
• 26.1-2

Long-Run Effects of Monetary Policy

• 26.2-1

Monetarism

• 26.3-1

Active vs. Passive Monetary Policy

• 26.4-1

Inflation and Expectations

The Short-Run Phillips Curve

• 27.1-1
• 27.1-2

Expectations

The Long-Run Phillips Curve

• 27.3-1

The Effectiveness of Policy