Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters.Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition.

By the end of this section, you will be able to:Describe microeconomicsDescribe macroeconomicsContrast monetary policy and fiscal policy

With this free video resource, students will explore the economic way of thinking, and the role incentives play in all our lives through engaging Hollywood production style videos.

Educators can use MRU's videos in a variety of ways, to include “flipping” the classroom, as study aids, supplementary material, concept reinforcement, or even as a full course offering.

In MRU's Principles of Macroeconomics course, we’ll cover fundamental questions such as: Why do some countries grow rich while others remain poor? How important is a country’s banking system — and what happened during the recent financial crisis? How did Zimbabwe end up with an inflation rate that rose into the quadrillions?

We’ll also cover important topics like the Federal Reserve, monetary policy, fiscal policy, the Solow Growth Model, institutional analysis, the “economics of ideas,” and more.

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What is Marginal Revolution University (MRU)?

Many of us can remember our first great economics teacher who fundamentally changed how we see the world. At MRU, we try and deliver that experience to millions worldwide through video.

Founded as a nonprofit in 2012 by George Mason University economics professors Tyler Cowen and Alex Tabarrok, MRU is building the world’s largest online library of free economics education videos -- currently weighing in at more than 800 videos.

Macroeconomics examines the fundamentals of the American economy as it relates to social welfare. Emphasis is on basic economic concepts and theories as they affect domestic and international markets. This course integrates behavioral social sciences to present solutions to real-world problems. Macroeconomics includes measurements of GDP, fiscal and monetary policy. Included in this video channel are over 200 short instructional video clips which cover nearly all of the topics that would be taught in a principles of macroeconomics course and tie in with all the student learning objectives required by the ACGM.

Explain the role of scarcity, specialization, opportunity cost and cost/benefit analysis in economic
decision-making.

Identify the determinants of supply and demand; demonstrate the impact of shifts in both market supply and
demand curves on equilibrium price and output.

Define and measure national income and rates of unemployment and inflation.

Identify the phases of the business cycle and the problems caused by cyclical fluctuations in the market
economy.

Define money and the money supply; describe the process of money creation by the banking system and the
role of the central bank.
Construct the aggregate demand and aggregate supply model of the macroeconomy and use it to illustrate
macroeconomic problems and potential monetary and fiscal policy solutions.

Explain the mechanics and institutions of international trade and their impact on the macroeconomy
.
Define economic growth and identify sources of economic growth.

Principles of Macroeconomics for AP® Courses 2e covers the scope and sequence requirements for an Advanced Placement® macroeconomics course and is listed on the College Board’s AP® example textbook list. The second edition includes many current examples and recent data from FRED (Federal Reserve Economic Data), which are presented in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts.

The second edition was developed with significant feedback from current users. In nearly all chapters, it follows the same basic structure of the first edition. General descriptions of the edits are provided in the preface, and a chapter-by-chapter transition guide is available for instructors.

The PDF file available here is ideal for creating a print version of the textbook. This textbook offers a pluralistic approach to microeconomic theory, macroeconomic theory, and international economic theory. It adopts a critical approach to neoclassical economics and incorporates heterodox alternatives to mainstream economics throughout the book.

In this video, Sal explains how the production possibilities curve model can be used to illustrate changes in a country's actual and potential level of output. Concepts covered include efficiency, inefficiency, economic growth and contraction, and recession. When an economy is in a recession, it is operating inside the PPC. When it is at full employment, it operates on the PPC.

The production possibilities curve (PPC) is a graph that shows all of the different combinations of output that can be produced given current resources and technology. Sometimes called the production possibilities frontier (PPF), the PPC illustrates scarcity and tradeoffs. In this video, we model tradeoffs and scarcity using the example of a hunter-gatherer who can split their time between two activities. Created by Sal Khan.

Does increasing the money supply impact the price level? Learn about the quantity theory of money in this video.

Nominal GDP measures output using current prices, but real GDP measures output using constant prices. In this video, we explore how price changes can distort GDP using a visual representation of GDP. Created by Sal Khan.

Thinking about how high utilization could drive price as another justification for an upward sloping short-run aggregate supply curve. Created by Sal Khan.

The real interest rate reflects the additional purchasing power gained and is based on the nominal interest rate and the rate of inflation. Learn how to find the real interest rate in this video. Created by Sal Khan.

Bond prices and interest rates are inverseley related. Learn about the relationship between bond prices change when interest rates change in this video. Created by Sal Khan.

Introduction to return on capital and cost of capital. Using these concepts to decide where to invest. Created by Sal Khan.

Students will understand the role agriculture plays in determining the wealth of a nation, document the role agriculture played in American history, and describe the impact environmental and agricultural systems will have on the future world population.