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Macro Unit 3 National Income and Price Determination

Unit 3 Key Ideas

Text: Economics by McConnell & Brue 14th ed.

• Chapter 9 Building the Aggregate Expenditures Model  (pp.172-195)
• Chapter 10 Aggregate Expenditures: The Multiplier, Net Exports, & Economics (pp. 199-218)
• Chapter 11 Aggregate Demand & Aggregate Supply (pp. 221-239)
• Chapter 12 Fiscal Policy (pp. 243-258)
  

Visuals for Unit 3

• Mac3-1 Aggregate Demand
• Mac3-2  Shifts in Aggregate Demand
• Mac3-3  Investment Demand
• Mac3-4  Aggregate Supply
• Mac3-5  Short Run Equilibrium
• Mac3-6  Change in Aggregate Demand
• Mac3-7  Long Run Aggregate Supply
• Mac3-8  Long Run Equilibrium

PowerPoints:
Chapter 27 Basic Macroeconomic Relationships (19th ed.)

Chapter 28 The Aggregate Expenditures Model (19th ed.)

Chapter 29 Aggregate Demand & Aggregate Supply (19th ed.)

Chapter 30 Fiscal Policy, Deficits, and Debt (19th ed.)

Practice Questions:

• Blackboard: Chapters 9-12
  

• Amosweb (select topic)

• Reffonomics
  

ACDC Videos 

Unit 3 Aggregate Demand & Supply: Fluctuations in Output & Prices

• ACDC Macro Intro - Aggregate Demand, Aggregate Supply & Fiscal Policy (2:19)
  

• ACDC Macro 3-1 Aggregate Demand & Supply & LRAS (3:26)

• ACDC Macro 3-1A AD, AS, & LRAS (Additional version) (4:25)

• ACDC Macro 3-2 Inflationary & Recessionary Gaps w/Monetary & Fiscal Policy (4:04)

• ACDC Macro 3-3 Long Run Aggregate Supply (2:37)

• ACDC Macro 3-4 The Phillips Curve (SR & LR) (3:48)

• ACDC Macro 3-5 Graphing Practice  (4:36)

• ACDC Macro 3-6 Classical vs. Keynsian Aggregate Supply (4:29)

• ACDC Macro 3-7 Fiscal Policy: Non-Discretionary vs. Discretionary (2:15)

• ACDC Macro 3-8 Multiplier Effect, MPC & MPS (2:17)

• ACDC Macro 3-9 Calculating the Multiplier (1:50)

• ACDC Macro 3-10 Multiplier & Spending Practice (2:03)

• ACDC Macro 3-11 Multiplier & Taxes Practice (3:21)

• ACDC Macro 3-12 Economic Growth (2:33)