ECON 112

Queen's

Course Overview

Lessons & Practice

I. Welcome

1. Measuring a Nation's Income

55min

1.1.1. Nominal GDP, Real GDP and Deflator9 min

1.1.2. Example: Nominal GDP, Real GDP and Deflator3 min

1.1.3. Example: Deflator Calculation3 min

1.1.4. Practice: Nominal GDP, Real GDP and Deflator1 min

1.1.5. Practice: Real and Nominal GDP1 min

1.2.1. Real GDP Per Capita8 min

1.2.2. Example: Real GDP Per Capita53 sec

1.2.3. Practice: Real GDP Per Capita23 sec

1.3.1. Circular Flow Diagram3 min

1.3.2. Practice: Circular Flow Diagram Practice Question1 min

1.4.1. GDP - Expenditure Approach6 min

1.4.2. Example: GDP - Expenditure Approach55 sec

1.4.3. Practice: GDP - Expenditure Approach40 sec

1.4.4. Practice: GDP and Investment Expenditure35 sec

1.4.5. Practice: GDP and Inventory1 min

1.5.1. GDP - Income Approach5 min

1.5.2. Example: GDP - Income Approach4 min

1.6.1. GDP vs GNP53 sec

1.6.2. Example: GDP vs GNP1 min

1.6.3. Practice: GDP vs GNP55 sec

2. Measuring the Cost of Living and Inflation

28min

2.1.1. CPI (Consumer Price Index)13 min

2.1.2. Example: CPI5 min

2.1.3. Practice: CPI34 sec

2.1.4. Practice: CPI Definition59 sec

2.1.5. Practice: CPI Calculation2 min

2.2.1. Real and Nominal Interest3 min

2.2.2. Example: Real and Nominal Interest2 min

2.2.3. Practice: Real Interest and CPI1 min

2.Q. Checkpoint Quiz1 Qn

3. Unemployment

29min

3.1.1. Labor Force and Unemployment5 min

3.1.2. Example: Labor Force and Unemployment6 min

3.1.3. Practice: Labor Force and Unemployment4 min

3.1.4. Practice: Labor Force2 min

3.1.5. Practice: Unemployment Rate41 sec

3.2.1. Types of Unemployment9 min

3.2.2. Example: Types of Unemployment2 min

3.2.3. Practice: Unemployment1 min

3.Q. Checkpoint Quiz1 Qn

4. Production and Growth

16min

4.1.1. Production and Growth9 min

4.1.2. Example: Production and Growth 2 min

4.1.3. Example: Catch Up Effect2 min

4.1.4. Practice: Production and Growth34 sec

4.1.5. Practice: Catch Up Effect55 sec

4.1.6. Practice: Rule of 7038 sec

4.1.7. Practice: Human Capital59 sec

5. Gains from Trade

46min

5.1.1. Absolute and Comparative Advantage11 min

5.1.2. Example: Absolute and Comparative Advantage7 min

5.1.3. Practice: Absolute and Comparative Advantage3 min

5.2.1. Gains from Trade8 min

5.2.2. Example: Gains from Trade4 min

5.2.3. Example: Consumption (Trading) Possibility Curve7 min

5.2.4. Practice: Gains from Trade5 min

6. Saving, Investment and the Financial System

43min

6.1.1. Financial System6 min

6.1.2. Example: Present Value1 min

6.1.3. Practice: Bonds2 min

6.2.1. Government Budget and National Savings8 min

6.2.2. Example: Paradox of Thrift2 min

6.2.3. Practice: Paradox of Thrift1 min

6.2.4. Practice: National Savings1 min

6.3.1. Loanable Funds12 min

6.3.2. Example: Loanable Funds3 min

6.3.3. Practice: Loanable Funds1 min

6.3.4. Practice: Supply and Demand for Loans1 min

6.3.5. Practice: Government Budget and Loans38 sec

6.3.6. Practice: Budget Deficit and Loans2 min

6.3.7. Practice: Factors That Affect Supply and Demand for Loans2 min

6.Q. Checkpoint Quiz0 Qns

7. The Monetary System

20min

7.1.1. Money and Banking Definitions10 min

7.1.2. Bank Reserves10 min

7.Q. Checkpoint Quiz6 Qns

8. Aggregate Expenditure

52min

8.1.1. Aggregate Expenditure Graph6 min

8.2.1. Consumption and Savings12 min

8.2.2. Investment, Government, Net Exports13 min

8.3.1. Equilibrium Output12 min

8.4.1. Adjustments Towards Equilibrium5 min

8.5.1. Leakages and Injections3 min

9. Aggregate Demand and Supply

40min

9.1.1. Aggregate Demand11 min

9.2.1. Short Run Aggregate Supply9 min

9.2.2. Long Run Aggregate Supply4 min

9.3.1. Output Gaps (Economic Fluctuations)9 min

9.4.1. Long Run Neutrality of Money7 min

9.Q. Checkpoint Quiz4 Qns

10. Monetary Policy

53min

10.1.1. Monetary Policy Response3 min

10.2.1. Monetary Policy, Open Market Operations and Overnight Rate16 min

10.3.1. Money Supply and Demand9 min

10.4.1. Monetary Injection and AD8 min

10.4.2. Monetary Injection with a Flexible/Fixed Exchange Rate16 min

10.Q. Checkpoint Quiz3 Qns

11. Fiscal Policy

29min

11.1.1. Multiplier Effect11 min

11.2.1. Crowding Out12 min

11.3.1. Automatic Stabilizers5 min

11.Q. Checkpoint Quiz3 Qns

12. Inflation and Disinflation

1.9hr

12.1.1. Employment1.9 hr

12.1.3. The Phillips Curve

12.1.5. Constant Inflation

12.1.6. Practice Questions: Wages

12.1.7. Practice Questions: Inflation

12.2.1. Demand Shocks

12.2.2. Supply Shocks

12.3.1. Disinflation

12.3.2. The Cost of Disinflation

13. Unemployment Fluctuations and the NAIRU

46min

13.1.1. Employment46 min

13.1.2. Flows in the Labour Market

13.1.3. Practice Questions: Employment and Unemployment

13.2.1. Market Clearing Theory

13.2.2. Non-Market Clearing Theories

13.2.3. Reducing Unemployment

13.2.4. Practice Questions: Unemployment Fluctuations

14. Government Debt and Deficits

1.5hr

14.1.1. The Government Budget Constraint58 min

14.1.2. Debt-to-GDP Ratio

14.1.3. Practice Questions: Government Debts and Deficits

14.2.1. The Budget Deficit Function

14.2.2. Structural and Cyclical Budget Deficit

14.2.3. Practice Questions: The Budget Deficit

14.3.1. Crowding Out35 min

14.3.3. Practice Questions: Effects of Government Debt

15. Exchange Rates and the Balance of Payments

1.8hr

15.1.1. Balance of Payments1.5 hr

15.1.2. Practice Questions: The Balance of Payments

15.2.1. The Exchange Rate

15.2.2. The Supply of Foreign Exchange

15.2.3. The Demand of Foreign Exchange

15.2.4. Practice Questions: Foreign Exchange

15.3.1. Fixed (Pegged) Exchange Rate Regime

15.3.2. Flexible Exchange Rates

15.3.3. Changes in Flexible Exchange Rates

15.3.4. Practice Questions: Determination of Exchange Rates19 min

16. Economic Concepts

29min

16.1.1. Definitions8 min

16.1.2. Practice: Definitions51 sec

16.2.1. Production Possibilities Frontier: Concave PPF8 min

16.2.2. Production Possibilities Frontier: Linear PPF3 min

16.2.3. Example: PPF and Opportunity Cost1 min

16.2.4. Example: PPF and Efficiency2 min

16.2.5. Practice: PPF2 min

16.2.6. Practice: Opportunity Cost2 min

16.3.1. Positive vs Normative Economics1 min

16.3.2. Practice: Positive and Normative Statements1 min

17. Demand and Supply

43min

17.1.1. Demand9 min

17.1.2. Example: Demand1 min

17.1.3. Practice: Demand2 min

17.2.1. Supply7 min

17.2.2. Practice: Supply1 min

17.3.1. Market Equilibrium5 min

17.3.2. Example: Equilibrium with a Table4 min

17.3.3. Example: Drawing Graphs4 min

17.3.4. Practice: Drawing Graphs3 min

17.3.5. Practice: Graphs with One Good2 min

17.3.6. Practice: Graphs with Two Different Goods3 min

17.3.7. Practice: Equilibrium with Equations2 min

18. Elasticity

1.5hr

18.1.1. Point Price Elasticity of Demand8 min

18.1.2. Example: Point Elasticity with Numbers and Equations6 min

18.2.1. Arc Price Elasticity of Demand5 min

18.2.2. Example: Arc Price Elasticity of Demand5 min

18.3.1. Factors That Affect Elasticity5 min

18.3.2. Example: Factors That Affect Elasticity51 sec

18.3.3. Practice: Factors That Affect Elasticity

18.4.1. Different Elasticities Along Demand and Total Revenue12 min

18.4.2. Example: Different Elasticities Along the Demand Curve and Total Revenue3 min

18.5.1. Perfectly Elastic and Inelastic4 min

18.5.2. Example: Steep and Flat Demand Curves1 min

18.5.3. Practice: Steep and Flat Demand Curves2 min

18.6.1. Income Elasticity4 min

18.6.2. Example: Income Elasticity3 min

18.6.3. Practice: Income Elasticity1 min

18.7.1. Cross Price Elasticity of Demand3 min

18.7.2. Example: Cross Price Elasticity of Demand12 min

18.7.3. Practice: Cross Price Elasticity of Demand3 min

18.8.1. Price Elasticity of Supply9 min

18.8.2. Example: Elasticity of Supply1 min

19. International Trade (Exports and Imports)

33min

19.1.1. Exports9 min

19.1.2. Practice: Exports55 sec

19.2.1. Imports with Free Trade8 min

19.2.2. Imports with Tariff9 min

19.2.3. Practice: Tariff1 min

19.3.1. Pros and Cons of Trade5 min

19.3.2. Practice: Pros and Cons of Trade

20. Gains from Trade

46min

20.1.1. Absolute and Comparative Advantage11 min

20.1.2. Example: Absolute and Comparative Advantage7 min

20.1.3. Practice: Absolute and Comparative Advantage3 min

20.2.1. Gains from Trade8 min

20.2.2. Example: Gains from Trade4 min

20.2.3. Example: Consumption (Trading) Possibility Curve7 min

20.2.4. Practice: Gains from Trade5 min

21. Monopolistic Competition

29min

21.1.1. What is Monopolistic Competition8 min

21.1.2. Example: Monopolistic Competition1 min

21.1.3. Practice: Monopolistic Competition1 min

21.1.4. Practice: Different Industries2 min

21.2.1. Short and Long Run Equilibrium7 min

21.2.2. Example: Short and Long Run Equilibrium2 min

21.2.3. Practice: Long Run Equilbrium2 min

21.3.1. Advertising2 min

21.3.2. Practice: Advertising1 min

21.4.1. Product Variety and Business Stealing Externality1 min

21.4.2. Example: Product Variety and Business Stealing Externality1 min

22. Oligopoly

56min

22.1.1. Oligopoly and Game Theory13 min

22.1.2. Example: Oligopoly and Game Theory8 min

22.1.3. Practice: Oligopoly and Game Theory54 sec

22.2.1. Prisoner's Dilemma8 min

22.2.2. Example: Nash Equilibrium with Common Resources5 min

22.3.1. Cartels, Output and Price Effect13 min

22.3.2. Practice: Output and Price Effect46 sec

22.4.1. Government Policy3 min

22.4.2. Practice: Government Policy Towards Oligopolies32 sec

22.5.1. Kinked Demand Curve3 min

22.5.2. Practice: Kinked Demand Curve43 sec

23. Public Goods and Common Resources

17min

23.1.1. Different Types of Goods10 min

23.1.2. Example: Different Types of Goods1 min

23.1.3. Practice: Different Types of Goods2 min

23.1.4. Example: Free Rider Problem2 min

23.1.5. Practice: Free Rider Problem2 min

24. Externalities/Market Failures

32min

24.1.1. Negative Externalities12 min

24.1.2. Example: Negative Externality55 sec

24.1.3. Practice: Negative Externality1 min

24.2.1. Correcting Negative Externalities6 min

24.2.2. Practice: Correcting Negative Externalities2 min

24.3.1. Positive Externalities7 min

24.3.2. Example: Positive Externalities2 min

24.3.3. Practice: Positive Externalities1 min

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what sections cover which midterms?

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Is each lesson and practice number separated by chapter?

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