Macroeconomics: Table of Contents
| Ch 1 | What’s In Economics For You? Scarcity, Opportunity Cost, Trade, and Models | 1.1 Are You Getting Enough? Scarcity and Choice 1.2 Give It Up for Opportunity Cost! Opportunity Cost 1.3 Why Don’t You Cook Breakfast? Gains from Trade 1.4 Economists as Mapmakers and Scientists: Thinking Like an Economist 1.5 Where and How to Look: Models for Microeconomics and Macroeconomics |
| Ch 2 | Making Smart Choices The Law of Demand | 2.1 Put Your Money Where Your Mouth Is: Weighing Benefits, Costs, and Substitutes 2.2 Living on the Edge: Smart Choices Are Marginal Choices 2.3 Move On When the Price Isn’t Right: The Law of Demand 2.4 Moving the Margins: What Can Change Demand? |
| Ch 3 | Show Me the Money The Law of Supply | 3.1 What Does It Really Cost? All Costs Are Opportunity Costs 3.2 Forget It, It’s History: Sunk Costs Don’t Matter for Future Choices 3.3 More for More Money: The Law of Supply 3.4 Changing the Bottom Line: What Can Change Supply? |
| Ch 4 | Coordinating Smart Choices Demand and Supply | 4.1 What Do Markets Do? Price Signals from Combining Demand and Supply 4.2 When Prices Sit Still: Market-Clearing, Equilibrium Prices 4.3 Moving Targets: What Happens When Demand and Supply Change? 4.4 Economists Do It with Models: Simplifying Changes in Demand and Supply 4.5 Getting More Than You Bargained for: Consumer Surplus, Producer Surplus, and Efficiency |
| Ch 5 | Are Your Smart Choices Smart for All? From Microeconomics to Macroeconomics | 5.1 Is the Whole Greater Than the Sum of the Parts? Reconciling Macroeconomics and Microeconomics 5.2 Should Government Be Hands-Off or Hands-On? Economics and Politics 5.3 Adding Up Everyone’s Choices: Macroeconomic Outcomes and Players 5.4 Focusing on Your Future: Why You Should Think Like a Macroeconomist |
| Ch 6 | Up Around the Circular Flow Measuring GDP and Living Standards | 6.1 Higher Prices, More Stuff, or Both? Nominal GDP and Real GDP 6.2 How to Measure GDP: Value Added and the Circular Flow 6.3 Adding All Macroeconomic Players: Enlarging the Circular Flow 6.4 My GDP Is Bigger Than Yours: What’s Wrong with GDP as a Measure of Well-Being? |
| Ch 7 | Do Macroeconomic Dreams Come True? Potential GDP, Economic Growth, and Business Cycles | 7.1 Does the Economy Live Up to Its Potential? Potential GDP 7.2 Moving Up (Mostly): Economic Growth 7.3 Boom and Bust: Business Cycles 7.4 Shocking! Economic Shocks and Business Cycles |
| Ch 8 | Costs of (Not) Working and Living Unemployment and Inflation | 8.1 Who Is Unemployed? Calculating the Unemployment Rate 8.2 Is Unemployment Healthy, Unhealthy, or Natural? Types of Unemployment 8.3 Lightening Up Your Wallet: What Is Inflation? 8.4 Inflation Starts with M: The Quantity Theory of Money 8.5 Pulling and Pushing on Inflation: Unemployment and Inflation Trade-Offs |
| Ch 9 | Skating to Where the Puck is Going The Aggregate Supply and Aggregate Demand Model | 9.1 Macroeconomic Performance Targets: Potential GDP and Long-Run Aggregate Supply 9.2 If You Plan and Build It . . . Short-Run Aggregate Supply 9.3 Will They Come and Buy It? Aggregate Demand 9.4 Hitting the Targets: Long-Run Macroeconomic Equilibrium 9.5 Economic Life Is Full of Shocks: Aggregate Demand and Aggregate Supply Shocks |
| Ch 10 | What's Behind Aggregate Demand? The Aggregate Expenditure Model and Multipliers | 10.1 The Bathtub Model: Expenditure Plans and the Circular Flow 10.2 Macroeconomic Equilibrium without Say’s Law: The Aggregate Expenditure Model 10.3 Keynesian Multiplication: The Multiplier 10.4 Connecting the Models: From Aggregate Expenditure to Aggregate Demand |
| Ch 11 | Trading Dollars for Dollars? Exchange Rates and Payments with the Rest of the World | 11.1 Shuffling Off to Buffalo: Demand and Supply of Canadian Dollars 11.2 Dancing with Dollars: Fluctuating Exchange Rates 11.3 How Exchange Rates Affect Your Life: International Transmission Mechanism 11.4 Overvalued Compared to What? Purchasing Power Parity and Rate of Return Parity Anchors 11.5 Where Do All the Dollars Flow? International Balance of Payments |
| Ch 12 | Steering Blindly? Money, Monetary Policy, and the Bank of Canada | 12.1 Money is for Lunatics: The Money or Bonds? 12.2 Legal Counterfeiting? Who Supplies Money? 12.3 Target Shooting: How the Bank of Canada Uses Short-Term Interest Rates to Steer the Economy 12.4 Driving with the Bank of Canada: Aggregate Demand Transmission Mechanisms 12.5 Transmission Breakdowns: Monetary Policy Challenges |
| Ch 13 | Spending Others’ Money Fiscal Policy, Deficits, and National Debt | 13.1 Spenders of Last Resort: Aggregate Demand Policies for Stabilizing Business Cycles 13.2 Building Foundations: Aggregate Supply Policies for Promoting Growth 13.3 Are Deficits Always Bad? Government Budget Surpluses and Deficits 13.4 We Owe How Much?! From Deficits to the National Debt 13.5 Are Deficits Like Potato Chips? Hands-Off or Hands-On Role for Government? |
| Ch 14 | Are Sweatshops All Bad? Globalization, Trade, and Protectionism | 14.1 Why Don’t You Cook Breakfast? Gains from Trade 14.2 Winners and Losers: Efficiency and Trade 14.3 What’s So Wonderful about Free Trade? Protectionism and Trade 14.4 Is Free Trade the Problem? Globalization and Sweatshops 14.5 Globalization and Its Discontents: Governments and Global Markets |
| Ch 15 | Hands-Off and/or Hands-On? Controversies in Macroeconomics | 15.1 Will the Circle Be Unbroken? Say’s Law and the Fundamental Macroeconomic Question 15.2 What Happens in the Loanable Funds Market? Business Investment and Savings 15.3 How Do They Start and Stop? Business Cycles 15.4 The Main Event: Monetary Policy and Fiscal Policy Disagreements 15.5 Market Failure or Government Failure? Globalization Problems |