12 point
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Apa
1 page each on any of the topic highlighted in red each page should be a new topic. A total of three pages with each page having its reference page. References can be a combination of materials provided and other relevant sources no later than 5 years.
In this discussion, we talk about Macro topics such as inflation, unemployment, economic growth, interest rates, tax, government spending, monetary and fiscal policies, GDP, economic growth, banking, stock/bond market, all kind of government policies, international trade, national debt, and other issues. You can ask an insightful question related to a macroeconomic issue that you are interested in learning more about and based on your readings, try to answer it. Or you can comment on a news article, being sure to include the source information for the article and explain how it related to the course. Use economics slang where appropriate.
Readings
Required Readings and Resources:
· Macroeconomics OpenStax Textbook, Chapter 6
· Video: GDP (3:51) – in this video GDP is defined and the components of this measure of economic output are explained.
· Video: Real GDP (2:36) – real GDP is defined and contrasted to nominal GDP. The role of price changes is explained.
· Video: Real Income (5:23) – this video explains the connections between changes in prices, changes in nominal income and changes in real income.
· Video: What is Gross Domestic Product? (4:35) – in this video GDP is defined. The difference between intermediate goods and finished or final goods is explained. Some shortcomings of GDP are illustrated.
· Video: Nominal Versus Real GDP (7:40) – nominal and real GDP are contrasted. The effect of rising prices and population growth are discussed.
· Video: Real GDP Per Capita and the Standard of Living (5:13) – in this video the relationship between GDP and a variety of broader measures of what people care about are examined. Shortcomings of GDP are discussed, including income distribution.
· Video: Splitting GDP (5:59) – the components of GDP are defined and examined in detail, along with measures of income.
· Lesson: GDP and Circular Flow – in this video the circular flow of income and expenditures and GDP is presented in a simple economy.
· Video: Business Cycles (1:07) – in this video the business cycle is defined and phases of the cycle are described.
Required Readings and Resources:
Unemployment
- Macroeconomics OpenStax Textbook, Chapter 8
- Video: Defining the Unemployment Rate (3:57) – in this video unemployment is defined. Relationships between the labor force, employment and the unemployment rate are examined.
- Video: Is Unemployment Undercounted? (5:18) – this video considers shortcomings of standard measures of unemployment and the unemployment rate.
- Video: Frictional Unemployment (4:25) – frictional unemployment is defined and investigated as a healthy part of any economy.
- Video: Structural Unemployment (9:15) – the problem of structural employment is investigated. Factors affecting structural unemployment and labor markets are examined.
- Video: Cyclical Unemployment (7:45) – in this video cyclical unemployment is defined and explained in relationship to the business cycle. The functioning of the labor market and search are examined. The natural rate of unemployment is defined.
- Video: Labor Force Participation (7:13) – the labor force participation rate is reviewed and factors that influence labor force participation is investigated in detailed.
- Video: Taxing Work (4:52) – in the video the role of taxes, social programs and incentives on labor force participation and retirement are considered.
- Video: The Economics of Choosing the Right Career (7:30) – the labor market is examined in detail in the video.
- Video: Unemployment (2:50) – unemployment is defined along with the labor force and labor force participation rate.
- Video: Types of Unemployment (4:19) – this video defines and illustrates the three types of unemployment: frictional, structural and cyclical.
- Website: Unemployment Rates by State – the webpage includes data on current state-level unemployment rates.
- Website: Occupational Outlook From BLS – this online publication of the BLS provides data and projections related to various occupations.
Inflation
Required Readings and Resources:
- Macroeconomics OpenStax Textbook, Chapter 11
- Video: Intro to Business Fluctuations (2:57) – this video reviews trends in GDP and unemployment across time and how business fluctuations might be reduced.
- Video: The Aggregate Demand Curve (5:47) – in this video the aggregate demand (AD) curve is defined. Shifts in the AD curve are explained.
- Video: The Long-Run Aggregate Supply Curve (5:39) – the long run aggregate supply curve (AS) is defined. Factors that can shift the AS curve are reviewed and analyzed along with AD.
- Video: The Short-Run Aggregate Supply Curve (9:11) -this video presents the short run aggregate supply curve and analyzes shifts in the short run AS curve.
- Video: Changes in Velocity (7:42) – in this video the velocity of money is examined in the AD/AS framework. Factors that can shift AD or AS are explained.
- Video: Understanding the Great Depression (8:49) – the Great Depression is described and factors that contributed to this decade long decline are examined. The role of the banking system in the economy is explained.
- Video: AS and AD (5:32) – this video introduces aggregate demand (AD) and aggregate supply (AS). Factors that shape and shift AD and AS are reviewed.
- Video: As and AD Viewpoints (7:06) – in this video characteristics of AD and AS are described and policies that can shift AD or AS are reviewed.
- Video: Business Cycles Explained – Sticky Wages and Prices (4:02) – sticky wages and sticky prices are described and how they might affect the business cycle is explained.
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