ECON 110

Queen's

Course Overview

Lessons & Practice

I. Welcome

1. Economic Concepts

29min

1.1.1. Definitions8 min

1.1.2. Practice: Definitions51 sec

1.2.1. Production Possibilities Frontier: Concave PPF8 min

1.2.2. Production Possibilities Frontier: Linear PPF3 min

1.2.3. Example: PPF and Opportunity Cost1 min

1.2.4. Example: PPF and Efficiency2 min

1.2.5. Practice: PPF2 min

1.2.6. Practice: Opportunity Cost2 min

1.3.1. Positive vs Normative Economics1 min

1.3.2. Practice: Positive and Normative Statements1 min

2. Measuring a Nation's Income

55min

2.1.1. Nominal GDP, Real GDP and Deflator9 min

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

2.1.3. Example: Deflator Calculation3 min

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

2.1.5. Practice: Real and Nominal GDP1 min

2.2.1. Real GDP Per Capita8 min

2.2.2. Example: Real GDP Per Capita53 sec

2.2.3. Practice: Real GDP Per Capita23 sec

2.3.1. Circular Flow Diagram3 min

2.3.2. Practice: Circular Flow Diagram Practice Question1 min

2.4.1. GDP - Expenditure Approach6 min

2.4.2. Example: GDP - Expenditure Approach55 sec

2.4.3. Practice: GDP - Expenditure Approach40 sec

2.4.4. Practice: GDP and Investment Expenditure35 sec

2.4.5. Practice: GDP and Inventory1 min

2.5.1. GDP - Income Approach5 min

2.5.2. Example: GDP - Income Approach4 min

2.6.1. GDP vs GNP53 sec

2.6.2. Example: GDP vs GNP1 min

2.6.3. Practice: GDP vs GNP55 sec

3. Measuring the Cost of Living and Inflation

28min

3.1.1. CPI (Consumer Price Index)13 min

3.1.2. Example: CPI5 min

3.1.3. Practice: CPI34 sec

3.1.4. Practice: CPI Definition59 sec

3.1.5. Practice: CPI Calculation2 min

3.2.1. Real and Nominal Interest3 min

3.2.2. Example: Real and Nominal Interest2 min

3.2.3. Practice: Real Interest and CPI1 min

3.Q. Checkpoint Quiz1 Qn

4. Unemployment

29min

4.1.1. Labor Force and Unemployment5 min

4.1.2. Example: Labor Force and Unemployment6 min

4.1.3. Practice: Labor Force and Unemployment4 min

4.1.4. Practice: Labor Force2 min

4.1.5. Practice: Unemployment Rate41 sec

4.2.1. Types of Unemployment9 min

4.2.2. Example: Types of Unemployment2 min

4.2.3. Practice: Unemployment1 min

4.Q. Checkpoint Quiz1 Qn

5. Production and Growth

16min

5.1.1. Production and Growth9 min

5.1.2. Example: Production and Growth 2 min

5.1.3. Example: Catch Up Effect2 min

5.1.4. Practice: Production and Growth34 sec

5.1.5. Practice: Catch Up Effect55 sec

5.1.6. Practice: Rule of 7038 sec

5.1.7. Practice: Human Capital59 sec

6. Aggregate Expenditure

52min

6.1.1. Aggregate Expenditure Graph6 min

6.2.1. Consumption and Savings12 min

6.2.2. Investment, Government, Net Exports13 min

6.3.1. Equilibrium Output12 min

6.4.1. Adjustments Towards Equilibrium5 min

6.5.1. Leakages and Injections3 min

7. Fiscal Policy

29min

7.1.1. Multiplier Effect11 min

7.2.1. Crowding Out12 min

7.3.1. Automatic Stabilizers5 min

7.Q. Checkpoint Quiz3 Qns

8. Saving, Investment and the Financial System

43min

8.1.1. Financial System6 min

8.1.2. Example: Present Value1 min

8.1.3. Practice: Bonds2 min

8.2.1. Government Budget and National Savings8 min

8.2.2. Example: Paradox of Thrift2 min

8.2.3. Practice: Paradox of Thrift1 min

8.2.4. Practice: National Savings1 min

8.3.1. Loanable Funds12 min

8.3.2. Example: Loanable Funds3 min

8.3.3. Practice: Loanable Funds1 min

8.3.4. Practice: Supply and Demand for Loans1 min

8.3.5. Practice: Government Budget and Loans38 sec

8.3.6. Practice: Budget Deficit and Loans2 min

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

8.Q. Checkpoint Quiz0 Qns

9. The Monetary System

26min

9.1.1. Money and Banking Definitions10 min

9.1.2. Bank Reserves10 min

9.2.1. Bank Capital and Leverage Ratio6 min

9.Q. Checkpoint Quiz6 Qns

10. Money and Prices in the Long Run

27min

10.1.1. Money Supply and Demand8 min

10.2.1. Velocity of Money6 min

10.3.1. Fisher Effect3 min

10.4.1. Costs of Inflation10 min

10.Q. Checkpoint Quiz0 Qns

11. Aggregate Demand and Supply

40min

11.1.1. Aggregate Demand11 min

11.2.1. Short Run Aggregate Supply9 min

11.2.2. Long Run Aggregate Supply4 min

11.3.1. Output Gaps (Economic Fluctuations)9 min

11.4.1. Long Run Neutrality of Money7 min

11.Q. Checkpoint Quiz4 Qns

12. Monetary Policy

53min

12.1.1. Monetary Policy Response3 min

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

12.3.1. Money Supply and Demand9 min

12.4.1. Monetary Injection and AD8 min

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

12.Q. Checkpoint Quiz3 Qns

13. Macroeconomic Theory of the Small Open Economy

23min

13.1.1. Supply and Demand of Foreign Currency11 min

13.2.1. Capital Flight4 min

13.3.1. Balance of Payments8 min

13.Q. Checkpoint Quiz2 Qns

14. Short Run Tradeoff Between Inflation and Unemployment

51min

14.1.1. The Phillips Curve24 min

14.2.1. Supply Shocks and Sacrifice Ratio10 min

14.3.1. Stagflation17 min

14.3.2. Practice: Stagflation

14.Q. Checkpoint Quiz6 Qns

15. Open Economy Macroeconomics

30min

15.1.1. International Flows of Goods and Services8 min

15.1.2. Example: International Flows of Goods and Services3 min

15.1.3. Practice: International Flows of Goods and Service42 sec

15.1.4. Practice: Net Capital Outflow1 min

15.2.1. Purchasing Power Parity10 min

15.2.2. Example: Purchasing Power Parity4 min

15.2.3. Practice: Purchasing Power Parity3 min

15.2.4. Practice: Exchange Rate42 sec

15.Q. Checkpoint Quiz0 Qns

16. Gains from Trade

46min

16.1.1. Absolute and Comparative Advantage11 min

16.1.2. Example: Absolute and Comparative Advantage7 min

16.1.3. Practice: Absolute and Comparative Advantage3 min

16.2.1. Gains from Trade8 min

16.2.2. Example: Gains from Trade4 min

16.2.3. Example: Consumption (Trading) Possibility Curve7 min

16.2.4. Practice: Gains from Trade5 min

17. International Trade (Exports and Imports)

33min

17.1.1. Exports9 min

17.1.2. Practice: Exports55 sec

17.2.1. Imports with Free Trade8 min

17.2.2. Imports with Tariff9 min

17.2.3. Practice: Tariff1 min

17.3.1. Pros and Cons of Trade5 min

17.3.2. Practice: Pros and Cons of Trade

18. Government Debt and Deficits

1.5hr

18.1.1. The Government Budget Constraint58 min

18.1.2. Debt-to-GDP Ratio

18.1.3. Practice Questions: Government Debts and Deficits

18.2.1. The Budget Deficit Function

18.2.2. Structural and Cyclical Budget Deficit

18.2.3. Practice Questions: The Budget Deficit

18.3.1. Crowding Out35 min

18.3.3. Practice Questions: Effects of Government Debt

19. Exchange Rates and the Balance of Payments

1.8hr

19.1.1. Balance of Payments1.5 hr

19.1.2. Practice Questions: The Balance of Payments

19.2.1. The Exchange Rate

19.2.2. The Supply of Foreign Exchange

19.2.3. The Demand of Foreign Exchange

19.2.4. Practice Questions: Foreign Exchange

19.3.1. Fixed (Pegged) Exchange Rate Regime

19.3.2. Flexible Exchange Rates

19.3.3. Changes in Flexible Exchange Rates

19.3.4. Practice Questions: Determination of Exchange Rates19 min

20. Unemployment Fluctuations and the NAIRU

46min

20.1.1. Employment46 min

20.1.2. Flows in the Labour Market

20.1.3. Practice Questions: Employment and Unemployment

20.2.1. Market Clearing Theory

20.2.2. Non-Market Clearing Theories

20.2.3. Reducing Unemployment

20.2.4. Practice Questions: Unemployment Fluctuations

21. Inflation and Disinflation

1.9hr

21.1.1. Employment1.9 hr

21.1.3. The Phillips Curve

21.1.5. Constant Inflation

21.1.6. Practice Questions: Wages

21.1.7. Practice Questions: Inflation

21.2.1. Demand Shocks

21.2.2. Supply Shocks

21.3.1. Disinflation

21.3.2. The Cost of Disinflation

Quiz 5 Overview

Course Notes

Wizeprep's course notes with hundreds of easy-to-understand explanations, diagrams, and practice problems.

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