Economics 144 Test 1 Video Classes

Macroeconomic Measures, Part 1: Prices and Unemployment (Chapter 1)

  • Estimating the price level: CPI calculations
  • Inflation calculations
  • Nominal vs. real income
  • Unemployment and labour force definitions and formulas (South Africa)
  • Types of unemployment

 

Prices and inflation

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Unemployment

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Macroeconomic Measures: Unemployment calculation examples

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Macroeconomic Measures, Part 2: GDP and Real GDP (Chapter 2)

  • GDP Measurement Approaches
  • Nominal vs. real GDP
  • The business cycle

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Macroeconomic Measures: GDP calculation examples

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Aggregate Demand and Aggregate Supply (Chapter 3)

  • Aggregate Demand
    • Why is the Aggregate Demand (AD) curve downward sloping?
    • The real balance effect
    • The interest rate effect
    • The international trade effect
    • Factors that lead to a change in AD: leading to shifts in the AD curve
    • AD = TE = C + I + G + EX – IM
  • Aggregate Supply
    • Why is the Short-run Aggregate Supply (SRAS) curve upward sloping?
    • Sticky (inflexible) wages
    • Workers misperceptions
    • Factors that lead to a change in SRAS: leading to shifts in the SRAS curve
    • Long-run Aggregate Supply (LRAS)

Aggregate Demand

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Aggregate Supply

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Aggregate Demand and Aggregate Supply: Example Questions

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Introduction to Economics (for your interest)

Why do we study economics? This video explains why by starting with the definition of economics. Key concepts in economics such as scarcity, opportunity cost, preferences and decisions at the margin are briefly discussed.

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Production Possibility Frontier (for your interest)

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