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Macroeconomics Unit II - Aggregate Demand and Aggregate Supply
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Chapter 8: Basic Macroeconomic Relationships
In this chapter you will learn:
- How changes in income affect consumption (and saving).
- About factors other than income that can affect consumption.
- How changes in real interest rates affect investment.
- About factors other than the real interest rate that can affect investment.
- Why changes in investment increase or decrease real GDP by a multiple amount.
Chapter 10: Aggregate Demand and Aggregate Supply
In this chapter you will learn:
- About aggregate demand (AD) and the factors that cause it to change.
- About aggregate supply (AS) and the factors that cause it to change.
- How AD and AS determine an economy's equilibrium price level and level of real GDP.
- How the AD-AS model explains periods of demand-pull inflation, cost-push inflation, and recession.
Chapter 17: Disputes over Macro Theory and Policy
In this chapter you will learn:
- The differences between the historical Keynesian and classical macro perspectives.
- About alternative perspectives on the causes of macroeconomic instability, including the views of mainstream economists, monetarist, real-business cycle advocates, and proponents of coordination failures.
- What the equation of exchange is and how it relates to "monetarism."
- Why new classical economists believe the economy will "self-correct" from aggregate demand and aggregate supply shocks.
- The variations of the debate over "rules" versus "discretion" in conducting stabilization policy.
Macro Unit II AP Econ in the News: Share links to articles about the topics we're studying. Be sure to include a short summary of how the article relates to this unit!
Macro Unit II Student Thought Forum: Either respond to one of the discussion threads at the bottom of this page, or start a new discussion of your own!
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, Mar 19 2008, 11:59 AM EDT
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| Started By | Thread Subject | Replies | Last Post | ||
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| welkerjason | Why don't Americans save? (page: 1 2 3) | 55 | Mar 3 2009, 3:25 AM EST by NikiSpaniol | ||
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Thread started: Feb 18 2008, 7:59 AM EST
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According to theory, individuals earning higher incomes should have a higher marginal propensity to save. As we learned in class, however, as incomes have risen in the United States, savings rates have actually fallen closer to zero. Why don't Americans save like Asians do? And does savings matter, anyway?
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