ECON 2002.01

OSU

Course Overview

Lessons & Practice

I. Welcome

48 sec

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. Gains from Trade

46min

2.1.1. Absolute and Comparative Advantage11 min

2.1.2. Example: Absolute and Comparative Advantage7 min

2.1.3. Practice: Absolute and Comparative Advantage3 min

2.2.1. Gains from Trade8 min

2.2.2. Example: Gains from Trade4 min

2.2.3. Example: Consumption (Trading) Possibility Curve7 min

2.2.4. Practice: Gains from Trade5 min

3. Demand and Supply

43min

3.1.1. Demand9 min

3.1.2. Example: Demand1 min

3.1.3. Practice: Demand2 min

3.2.1. Supply7 min

3.2.2. Practice: Supply1 min

3.3.1. Market Equilibrium5 min

3.3.2. Example: Equilibrium with a Table4 min

3.3.3. Example: Drawing Graphs4 min

3.3.4. Practice: Drawing Graphs3 min

3.3.5. Practice: Graphs with One Good2 min

3.3.6. Practice: Graphs with Two Different Goods3 min

3.3.7. Practice: Equilibrium with Equations2 min

4. Efficiency

1.7hr

4.1.1. Consumer Surplus7 min

4.1.2. Example: Consumer Surplus2 min

4.1.3. Practice: Consumer Surplus3 min

4.2.1. Producer Surplus4 min

4.2.2. Example: Producer Surplus2 min

4.3.1. Total Surplus3 min

4.3.2. Example: Total Surplus4 min

4.4.1. Marginal Benefit and Marginal Cost5 min

4.4.2. Practice: Marginal Benefit and Cost3 min

4.5.1. Tax and Welfare9 min

4.5.2. Example: Tax and Elasticity7 min

4.5.3. Practice: CS and PS with Taxes3 min

4.5.4. Laffer Curve3 min

4.6.1. CS and PS with Price Ceilings7 min

4.6.2. Example: CS, PS, DWL with Price Ceiling7 min

4.6.3. Practice: CS, PS, DWL with Price Ceiling1 min

4.7.1. CS and PS with Price Floors5 min

4.7.2. Example: CS, PS, DWL with Price Floors6 min

4.8.1. CS and PS with Quotas4 min

4.8.2. Example: CS, PS, DWL with Quotas5 min

4.9.1. CS and PS with Subsidies

4.9.2. Practice: CS, PS, DWL with Subsidy5 min

5. Asymmetric Information and Financial Markets

9min

5.1.1. Asymmetric Information, Adverse Selection, Moral Hazard, Lemons Problem5 min

5.1.2. Practice: Lemons Problem42 sec

5.2.1. Sole Proprietorships, Partnerships, and Corporations3 min

5.2.2. Practice: Sole Proprietorships, Partnerships and Corporations25 sec

6. Economic Efficiency and Government Intervention

20min

6.1.1. Production and Allocative Efficiency9 min

6.1.2. Example: Production and Allocative Efficiency2 min

6.1.3. Example: Efficiency with Different Market Structures1 min

6.2.1. Government Intervention with Natural Monopolies7 min

6.2.2. Example: Government Intervention with Natural Monopolies49 sec

7. Measuring a Nation's Income

55min

7.1.1. Nominal GDP, Real GDP and Deflator9 min

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

7.1.3. Example: Deflator Calculation3 min

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

7.1.5. Practice: Real and Nominal GDP1 min

7.2.1. Real GDP Per Capita8 min

7.2.2. Example: Real GDP Per Capita53 sec

7.2.3. Practice: Real GDP Per Capita23 sec

7.3.1. Circular Flow Diagram3 min

7.3.2. Practice: Circular Flow Diagram Practice Question1 min

7.4.1. GDP - Expenditure Approach6 min

7.4.2. Example: GDP - Expenditure Approach55 sec

7.4.3. Practice: GDP - Expenditure Approach40 sec

7.4.4. Practice: GDP and Investment Expenditure35 sec

7.4.5. Practice: GDP and Inventory1 min

7.5.1. GDP - Income Approach5 min

7.5.2. Example: GDP - Income Approach4 min

7.6.1. GDP vs GNP53 sec

7.6.2. Example: GDP vs GNP1 min

7.6.3. Practice: GDP vs GNP55 sec

8. Measuring the Cost of Living and Inflation

28min

8.1.1. CPI (Consumer Price Index)13 min

8.1.2. Example: CPI5 min

8.1.3. Practice: CPI34 sec

8.1.4. Practice: CPI Definition59 sec

8.1.5. Practice: CPI Calculation2 min

8.2.1. Real and Nominal Interest3 min

8.2.2. Example: Real and Nominal Interest2 min

8.2.3. Practice: Real Interest and CPI1 min

8.Q. Checkpoint Quiz1 Qn

9. Unemployment

29min

9.1.1. Labor Force and Unemployment5 min

9.1.2. Example: Labor Force and Unemployment6 min

9.1.3. Practice: Labor Force and Unemployment4 min

9.1.4. Practice: Labor Force2 min

9.1.5. Practice: Unemployment Rate41 sec

9.2.1. Types of Unemployment9 min

9.2.2. Example: Types of Unemployment2 min

9.2.3. Practice: Unemployment1 min

9.Q. Checkpoint Quiz1 Qn

10. Production and Growth

16min

10.1.1. Production and Growth9 min

10.1.2. Example: Production and Growth 2 min

10.1.3. Example: Catch Up Effect2 min

10.1.4. Practice: Production and Growth34 sec

10.1.5. Practice: Catch Up Effect55 sec

10.1.6. Practice: Rule of 7038 sec

10.1.7. Practice: Human Capital59 sec

11. Saving, Investment and the Financial System

43min

11.1.1. Financial System6 min

11.1.2. Example: Present Value1 min

11.1.3. Practice: Bonds2 min

11.2.1. Government Budget and National Savings8 min

11.2.2. Example: Paradox of Thrift2 min

11.2.3. Practice: Paradox of Thrift1 min

11.2.4. Practice: National Savings1 min

11.3.1. Loanable Funds12 min

11.3.2. Example: Loanable Funds3 min

11.3.3. Practice: Loanable Funds1 min

11.3.4. Practice: Supply and Demand for Loans1 min

11.3.5. Practice: Government Budget and Loans38 sec

11.3.6. Practice: Budget Deficit and Loans2 min

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

11.Q. Checkpoint Quiz0 Qns

12. The Monetary System

26min

12.1.1. Money and Banking Definitions10 min

12.1.2. Bank Reserves10 min

12.2.1. Bank Capital and Leverage Ratio6 min

12.Q. Checkpoint Quiz6 Qns

13. Money and Prices in the Long Run

27min

13.1.1. Money Supply and Demand8 min

13.2.1. Velocity of Money6 min

13.3.1. Fisher Effect3 min

13.4.1. Costs of Inflation10 min

13.Q. Checkpoint Quiz0 Qns

14. Aggregate Demand and Supply

40min

14.1.1. Aggregate Demand11 min

14.2.1. Short Run Aggregate Supply9 min

14.2.2. Long Run Aggregate Supply4 min

14.3.1. Output Gaps (Economic Fluctuations)9 min

14.4.1. Long Run Neutrality of Money7 min

14.Q. Checkpoint Quiz4 Qns

15. Monetary Policy

53min

15.1.1. Monetary Policy Response3 min

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

15.3.1. Money Supply and Demand9 min

15.4.1. Monetary Injection and AD8 min

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

15.Q. Checkpoint Quiz3 Qns

16. Fiscal Policy

29min

16.1.1. Multiplier Effect11 min

16.2.1. Crowding Out12 min

16.3.1. Automatic Stabilizers5 min

16.Q. Checkpoint Quiz3 Qns

17. Short Run Tradeoff Between Inflation and Unemployment

51min

17.1.1. The Phillips Curve24 min

17.2.1. Supply Shocks and Sacrifice Ratio10 min

17.3.1. Stagflation17 min

17.3.2. Practice: Stagflation

17.Q. Checkpoint Quiz6 Qns

18. Open Economy Macroeconomics

30min

18.1.1. International Flows of Goods and Services8 min

18.1.2. Example: International Flows of Goods and Services3 min

18.1.3. Practice: International Flows of Goods and Service42 sec

18.1.4. Practice: Net Capital Outflow1 min

18.2.1. Purchasing Power Parity10 min

18.2.2. Example: Purchasing Power Parity4 min

18.2.3. Practice: Purchasing Power Parity3 min

18.2.4. Practice: Exchange Rate42 sec

18.Q. Checkpoint Quiz0 Qns

19. Macroeconomic Theory of the Small Open Economy

23min

19.1.1. Supply and Demand of Foreign Currency11 min

19.2.1. Capital Flight4 min

19.3.1. Balance of Payments8 min

19.Q. Checkpoint Quiz2 Qns

20. Government Debt and Deficits

1.5hr

20.1.1. The Government Budget Constraint58 min

20.1.2. Debt-to-GDP Ratio

20.1.3. Practice Questions: Government Debts and Deficits

20.2.1. The Budget Deficit Function

20.2.2. Structural and Cyclical Budget Deficit

20.2.3. Practice Questions: The Budget Deficit

20.3.1. Crowding Out35 min

20.3.2. Theory

20.3.3. Practice Questions: Effects of Government Debt

21. Exchange Rates and the Balance of Payments

1.8hr

21.1.1. Balance of Payments1.5 hr

21.1.2. Practice Questions: The Balance of Payments

21.2.1. The Exchange Rate

21.2.2. The Supply of Foreign Exchange

21.2.3. The Demand of Foreign Exchange

21.2.4. Practice Questions: Foreign Exchange

21.3.1. Fixed (Pegged) Exchange Rate Regime

21.3.2. Flexible Exchange Rates

21.3.3. Changes in Flexible Exchange Rates

21.3.4. Practice Questions: Determination of Exchange Rates19 min

22. Unemployment Fluctuations and the NAIRU

46min

22.1.1. Employment46 min

22.1.2. Flows in the Labour Market

22.1.3. Practice Questions: Employment and Unemployment

22.2.1. Market Clearing Theory

22.2.2. Non-Market Clearing Theories

22.2.3. Reducing Unemployment

22.2.4. Practice Questions: Unemployment Fluctuations

23. Inflation and Disinflation

1.9hr

23.1.1. Employment1.9 hr

23.1.2. Wages

23.1.3. The Phillips Curve

23.1.4. Prices

23.1.5. Constant Inflation

23.1.6. Practice Questions: Wages

23.1.7. Practice Questions: Inflation

23.2.1. Demand Shocks

23.2.2. Supply Shocks

23.2.3. Theory

23.3.1. Disinflation

23.3.2. The Cost of Disinflation

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AI Tutor answered

Anonymous

Is this website enough to understand all concepts or should I use this and other ones 

Wize AI Tutor

I can't tell from here exactly how well this course lines up with your class, so I can't promise it covers everything you'll be tested on.

A good way to check:

Compare the chapter list here with your syllabus or course outline. Anything missing is a topic to cover from your lectures or textbook.
Use your own lecture notes and textbook alongside this. Your professor decides what's on the exam, so their material is the final word on scope and notation.
Do past exams or practice problems from your class if you have them. If you can work through those, you understand the concepts well enough, whatever source you learned them from.

Using lots of other websites usually isn't necessary and can get confusing if they explain things differently. It's more useful to pick one main resource, fill any gaps from your class materials, and spend most of your time practicing problems.

If you want to know how closely this course matches your specific class, your Wizeprep Prof is the best person to ask.

AI Tutor answered

Samuel B

what sections cover which midterms?

Wize AI Tutor

I don't have the course outline or your school's midterm schedule here, so I can't say which sections line up with which midterm without guessing.

Midterm coverage often depends on your professor and term. The most reliable place to check is your course syllabus from your school. Your Wizeprep Prof can also tell you which sections of this course match each midterm, so it's worth asking them.

AI Tutor answered

Anonymous

Is each lesson and practice number separated by chapter?

Wize AI Tutor

Yes, the course is organized by chapter. Each chapter is split into sections, and the lessons and practice for a topic sit inside that chapter's sections.

Question numbers like Q.1, Q.2 restart within each practice set rather than running across the whole chapter. If a practice set is divided into parts, the numbering restarts in each part too (for example, Q.2.1 is the first question of part 2).

I can't see the exact layout of your course from here, so if you meant a specific numbering you're seeing, your Wizeprep Prof can confirm how it maps to your chapters.

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