Unit Five Review

14 06 2011

Topics Covered:

  • Fiscal Policy (these videos use a slightly different model for aggregate supply then what we covered in class, don’t worry too much about it – just focus on aggregate demand)
  • Money
  • Monetary Policy – quantitative easing

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Unit Four Review

14 06 2011

Topics Covered:

  • Circular Flow of Income
  • GDP
  • Employment
  • Inflation
  • Economic Growth
  • Business Cycle
  • Aggregate Supply and Demand
  • Interest Rates

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Unit Three Review

14 06 2011

Topics Covered:

  • Market Failures
  • Externalities
  • Public Goods
  • Price Ceiling and Floors
  • Subsidies
  • Quotas (stop video after 1:55 – you don’t need to worry about the producer and consumer surplus or the deadweight loss)

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Unit Two Review

14 06 2011

Topics Covered (lots and lots of material here!)

  • Supply and Demand
  • Elasticity
  • Marginal Utility
  • Revenue, Costs and Profit
  • Marginal Revenue and Marginal Cost
  • Market Structures

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Unit One Review

14 06 2011

Topics covered:

  • Positive vs Normative Economics
  • Scarcity and Choice
  • Opportunity Cost
  • Productions Possibilities Curve
  • Absolute and Comparative Advantage

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