- Unit 1A: Basic Economic Concepts
- Unit 1B: Introduction to Trade
- Unit 2A: Measuring the Economy: Economic Goals
- Unit 2B: Aggregate Expenditures Model
- Unit 2C: Aggregate Demand-Aggregate Supply Model
- Unit 3: Money & Banking
- Unit 4: Long-Run Considerations
Unit 2A: Measuring the Economy: Economic Goals
One of the most important indicators for a macroeconomy is GDP (Gross Domestic Product). This figure, the value of all goods and service produced in a country for a given year, let's government know the health of the economy and whether it is growing or shrinking. Often connected to this measure are two important statistics: unemployment rate and inflation rate. Congress has tasked the federal government with making sure that the overall health of the United States economy is good, and if it is not, it has tools to influence changes to make it so. In this unit we will be introduced to GDP, its components, Unemployment Rate, and the Inflation Rate.
Online Textbook Resources
Unfortunately, due to the age of the textbook, the publisher has removed all online content associated with our textbook. While we will use the book as an important source, the links given therein are no loner functioning. As a result, I will look online for other sources related to the topics in our text. Likewise, I encourage you to let me know of any useful websites that you come across in your studies so that I may add them to the site and share with everyone.
Constructing & Deconstructing GDP: The Income Approach
Using the Income Approach, this powerpoint demonstrates how to create GDP figure using given data and then work back to get other statistics such as NDP, PI, and DI.