By the end of this section, you will be able to:Calculate and graph budget constraintsExplain opportunity sets and opportunity costsEvaluate the law of diminishing marginal utilityExplain how marginal analysis and utility influence choices
Material Type: Module
This is a collection of materials to help to study macroeconomics
Material Type: Lecture Notes
By the end of this section, you will be able to:Interpret a circular flow diagramExplain the importance of economic theories and modelsDescribe goods and services markets and labor markets
Material Type: Module
The Fair model web site includes a freely available United States macroeconomic econometric model and a multicounty econometric model. The models run on the Windows OS. Instructors can use the models to teach forecasting, run policy experiments, and evaluate historical episodes of macroeconomic behavior. The web site includes extensive documentation for both models. The simulation is for upper-division economics courses in macroeconomics or econometrics. The principle developer is Ray Fair at Yale University.
Material Type: Activity/Lab, Simulation, Teaching/Learning Strategy
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. Textbook The book for this course is Macroeconomics OpenStax which was created by Rice University. Videos Images for videos come from the following sources with voice over from Professor Richard Gosselin at Houston Community College who is solely responsible for their content. There are 179 videos for the macroeconomics course with an average run time of about five minutes each. They were produced using three sources - desktop screen capturing via Screenflow which is a product of Telestream, as well as One Button Studio and the Learning Glass for live in-person mini-lectures filmed in a studio. Nearly all the video have been closed-captioned for the hearing impaired using professionals rather than automation. There are also downloadable transcripts embedded for each video and a download feature for users. Houston Community College footed the expense of the closed-captioning service. I would like to thank the college administration as well as Ruben Duran, Senior Media Developer at the college for assisting with this. OpenStax Macroeconomics, Second Edition Principles of Economics is adapted from a work produced and distributed under a Creative Commons license (CC BY-NC-SA) in 2011 by a publisher who has requested that they and the original author not receive attribution. This adapted edition is produced by the University of Minnesota Libraries Publishing through the eLearning Support Initiative. This adaptation has reformatted the original text and replaced some images and figures to make the resulting whole more shareable. This adaptation has not significantly altered or updated the original 2011 text. This work is made available under the terms of a Creative Commons Attribution-NonCommercial-ShareAlike license. Test Bank The original test bank provided by Open Stax provided 1158 questions, 955 were multiple choice and 203 were short answer questions. Under this grant there were no additional short answer questions added however, there are now 1418 questions in the new test bank which is the result of adding 260 questions of the following variety - multiple choice, fill in the blank, numerical questions, multiple drop-down questions, multiple-response questions, matching and formula questions which present each student with different values and parameters. Images in the test bank, unless otherwise noted are licensed under the Creative Commons and most are the product of unknown authors. Review PowerPoint Slides These were provided by Intellus Learning Open Courses This work is licensed under a Creative Commons Attribution 4.0 International (Links to an external site.)Links to an external site. License. The material for these slides and the image come directly from Macroeconomics OpenStax, Second edition. Discussion Questions These were authored by Richard Gosselin at Houston Community College and are licensed under the Creative Commons. There are over 70 discussion questions available. Flash Card Powered by Quizlet These were authored by Richard Gosselin with a couple of exceptions. They are based on the terms in Macroeconomics, Second edition. They are also licensed under the Creative Commons and are freely distributable. There are 21 such quizzes, one for each chapter. Excel Exercises and Videos 26 Excel assignments were created including practice assignments and videos to assist students with basic features of Excel which help them create a file, save data, sort data, create tables, line graphs, bar graphs and pie chart and much more.
Material Type: Full Course
Principles of Economics covers scope and sequence requirements for a two-semester introductory economics course. The authors take a balanced approach to micro- and macroeconomics, to both Keynesian and classical views, and to the theory and application of economics concepts. The text also includes many current examples, which are handled in a politically equitable way.
Material Type: Textbook
In this video, we introduce the field of economics using quotes from the person that many consider to be the "father" of economics: Adam Smith. Topics include the definition of economics, microeconomics, and macroeconomics as a field and the role of assumptions in economic decisionmaking. Created by Sal Khan.
Material Type: Lesson
This Excel spreadsheet assignment brings students step-by-step through the process of solving and analyzing a Keynesian cross model. It is most appropriate for principles-level macroeconomics courses.
Material Type: Activity/Lab, Data Set, Lecture Notes
Monetary policy is the use of the money supply to affect key macroeconomic variables, such as real GDP. This video focuses on how a central bank can use open market operations and reserve requirements to enact monetary policy to close output gaps.
Material Type: Lesson
In 1958, economist Bill Phillips described an apparent inverse relationship between unemployment and inflation. Later economists researching this idea dubbed this relationship the "Phillips Curve". Learn about the curve that launched a thousand macroeconomic debates in this video. Created by Sal Khan.
Material Type: Lesson
This is a JiTT exercise in which students apply introductory-level macroeconomic analysis to the question of how large the stimulus package put forward to Congress in early 2009 needed to be to close the recessionary gap facing the U.S. economy at that time. In particular, this exercise asks students to bring together the concepts of potential and actual GDP, recessionary gaps, fiscal policy, spending and taxing multipliers, and effects of changes in aggregate spending on employment and output.
Material Type: Activity/Lab
Principles of Economics covers scope and sequence requirements for a two-semester introductory economics course. The authors take a balanced approach to micro- and macroeconomics, to both Keynesian and classical views, and to the theory and application of economics concepts. The text also includes many current examples, which are handled in a politically equitable way.
Material Type: Textbook
In this video we work through an example of a question like you might see on an AP microeconomics or AP Macroeconomics exam determining who has comparative advantage in producing a good using data from a table. Topics include how to calculate opportunity costs and determine who has comparative advantage based on opportunity cost.
Material Type: Lesson
Short Description: Principles of Economics covers scope and sequence requirements for a two-semester introductory economics course. The authors take a balanced approach to micro- and macroeconomics, to both Keynesian and classical views, and to the theory and application of economics concepts. The text also includes many current examples, which are handled in a politically equitable way. Long Description: Principles of Microeconomics: Scarcity and Social Provisioning takes a pluralistic approach to the standard topics of an introductory microeconomics course. The text builds on the chiefly neoclassical material of the OpenStax Principles of Economics text, adding extensive content from heterodox economic thought. Emphasizing the importance of pluralism and critical thinking, the text presents the method and theory of neoclassical economics alongside critiques thereof and heterodox alternatives in both method and theory. This approach is taken from the outset of the text, where contrasting definitions of economics are discussed in the context of the various ways in which neoclassical and heterodox economists study the subject. The same approach–of theory and method, critique, and alternative theory theory and method–is taken in the study of consumption, production, and market exchange, as well as in the applied theory chapters. Historical and contemporary examples are given throughout, and both theory and application are presented with a balanced approach. This textbook will be of interest especially to instructors and students who wish to go beyond the traditional approach to the fundamentals of microeconomic theory, and explore the wider spectrum of economic thought. Instructors may contact Open Oregon Educational Resources for quiz question test banks associated with each chapter. Word Count: 316070 ISBN: 978-1-63635-023-3 (Note: This resource's metadata has been created automatically by reformatting and/or combining the information that the author initially provided as part of a bulk import process.)
Material Type: Textbook
This assignment connects openstax Principles of Macroeconomics content to the COVID-19 pandemic, subsequent economic slowdown, and fiscal policy actions.
Material Type: Activity/Lab
Sample practice questions to supplement OpenStax textbook Economics 2e.
Material Type: Homework/Assignment
In this macroeconomics problem, students check to see whether they understand the role nominal aggregate demand and inflation expectations play in determining the economy's output level and inflation rate.
Material Type: Activity/Lab
Piketty's two drivers of divergence. A discussion with Sal Khan.
Material Type: Lesson
A real life example of a transaction involving CDOs. Created by Sal Khan.
Material Type: Lesson
Education as a force of convergence. A discussion with Sal Khan.
Material Type: Lesson
