Macroeconomics
Macroeconomics is about whole economies. What is GDP? Why does the economy boom and bust? How is the government involved? We hit the traditional topics from a college-level macroeconomics course.
8 units172 videos22 hours
Learn it live with a class on Puzzicle · Teachers: use it with your class
Unit 1: Basic economics concepts
Introduction to macroeconomics
Opportunity cost and the Production Possibilities Curve
Comparative advantage and the gains from trade
Comparative advantage, specialization, and gains from trade ✓ Check-ins8:56
Comparative advantage and absolute advantage ✓ Check-ins10:16
Opportunity cost and comparative advantage using an output table ✓ Check-ins9:55
Terms of trade and the gains from trade ✓ Check-ins9:56
Input approach to determining comparative advantage ✓ Check-ins8:52
When there aren't gains from trade ✓ Check-ins6:50
Comparative advantage worked example ✓ Check-ins9:48
Demand
Law of demand ✓ Check-ins8:16
Price of related products and demand ✓ Check-ins5:48
Change in expected future prices and demand ✓ Check-ins4:34
Changes in income, population, or preferences ✓ Check-ins3:33
Normal and inferior goods ✓ Check-ins5:56
Change in demand versus change in quantity demanded ✓ Check-ins8:27
Supply
Unit 2: Economic indicators and the business cycle
Gross Domestic Product
Circular flow of income and expenditures ✓ Check-ins8:58
Parsing gross domestic product ✓ Check-ins11:59
More on final and intermediate GDP contributions ✓ Check-ins2:50
Investment and consumption ✓ Check-ins7:32
Income and expenditure views of GDP ✓ Check-ins4:49
Value added approach to calculating GDP ✓ Check-ins5:16
Components of GDP ✓ Check-ins4:58
Expenditure approach to calculating GDP examples ✓ Check-ins8:06
Examples of accounting for GDP ✓ Check-ins5:57
Limitations of GDP
Unemployment
Inflation
Costs of Inflation
Real vs. nominal GDP
Business cycles
Unit 3: National income and price determination
Multipliers
Short-run aggregate supply
Long-run aggregate supply
Equilibrium in the AD-AS Model
Changes in the AD-AS model in the short run
Long run self-adjustment
Fiscal policy
Automatic stabilizers
Unit 4: Financial sector
Financial assets
Nominal v. real interest rates
Definition, measurement, and functions of money
Banking and the expansion of the money supply
Overview of fractional reserve banking ✓ Check-ins8:28
Money creation in a fractional reserve system ✓ Check-ins8:09
Weaknesses of fractional reserve lending ✓ Check-ins7:34
Full reserve banking ✓ Check-ins7:32
Simple fractional reserve accounting (part 1) ✓ Check-ins9:01
Simple fractional reserve accounting (part 2) ✓ Check-ins7:05
The money market
The market for loanable funds
Interest rates and the time value of money
Unit 5: Long-run consequences of stabilization policies
Fiscal and Monetary Policy Actions in the Short Run
The Phillips curve
Money growth and inflation
Crowding out
Deficits and debts
Economic growth
Unit 6: Open economy: international trade and finance
The balance of payments
Exchange rates
The foreign exchange market
Currency exchange introduction ✓ Check-ins12:04
Supply and demand curves in foreign exchange ✓ Check-ins6:49
Accumulating foreign currency reserves ✓ Check-ins3:35
Using reserves to stabilize currency ✓ Check-ins5:09
Speculative attack on a currency ✓ Check-ins7:49
Financial crisis in Thailand caused by speculative attack ✓ Check-ins6:33
Math mechanics of Thai banking crisis ✓ Check-ins7:41
Effect of changes in policies and economic conditions on the foreign exchange market
Real interest rates and international capital flows
Unit 7: Keynesian approaches and IS-LM
The consumption function
The Keynesian cross
IS-LM
Keynesian economics and its critiques
Unit 8: Contemporary macroeconomic issues
Analysis of income inequality in the United States (in partnership with the New York Times)
Introduction to series analyzing income and wealth trends in the US ✓ Check-ins1:13
Looking at trends in inflation adjusted income since 1980 ✓ Check-ins5:36
Comparing income trends across countries ✓ Check-ins5:01
Per capita GDP trends over past 70 years ✓ Check-ins5:13
US taxation trends in the post war era ✓ Check-ins4:06
National income and inequality
Capital by Thomas Piketty ✓ Check-ins3:52
Difference between wealth and income ✓ Check-ins4:32
What is capital? ✓ Check-ins9:30
Piketty's two drivers of divergence ✓ Check-ins9:47
Is rising inequality necessarily bad? ✓ Check-ins8:32
Convergence on macro scale ✓ Check-ins3:25
Education as a force of convergence ✓ Check-ins11:42
Gilded Age versus Silicon Valley ✓ Check-ins7:11
Inverse relationship between capital price and returns ✓ Check-ins8:30
Connecting income to capital growth and potential inequality ✓ Check-ins6:56
r greater than g but less inequality ✓ Check-ins8:17
Return on capital and economic growth ✓ Check-ins9:08
Critically looking at data on ROC and economic growth over millenia ✓ Check-ins5:46
Simple model to understand r and g relationship ✓ Check-ins7:46
The 2008 Financial Crisis
CNN: Understanding the crisis ✓ Check-ins14:36
Bailout 1: Liquidity vs. solvency ✓ Check-ins11:26
Bailout 2: Book value ✓ Check-ins10:52
Bailout 3: Book value vs. market value ✓ Check-ins10:32
Bailout 4: Mark-to-model vs. mark-to-market ✓ Check-ins11:24
Bailout 5: Paying off the debt ✓ Check-ins10:51
Bailout 6: Getting an equity infusion ✓ Check-ins12:02
Bailout 7: Bank goes into bankruptcy ✓ Check-ins10:25
Bailout 8: Systemic risk ✓ Check-ins11:52
Bailout 9: Paulson's plan ✓ Check-ins11:05
Bailout 10: Moral hazard ✓ Check-ins12:07
Bailout 11: Why these CDOs could be worth nothing ✓ Check-ins10:44
Bailout 12: Lone Star transaction ✓ Check-ins10:28
Bailout 13: Does the bailout have a chance of working? ✓ Check-ins10:59
Bailout 14: Possible solution ✓ Check-ins12:22
Bailout 15: More on the solution ✓ Check-ins10:09
Learn this with a class
With a class on Puzzicle this course runs as a timetable of live study parties: your batch watches together and answers the check-ins, sometimes with a teacher leading.
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