National income and price determination

This course contains 9 segments:

Aggregate demand

A lesson on aggregate demand, its components and the model showing the relationship between a nation's aggregate price level and the quantity of real output demanded.

Multipliers

A lesson on the expenditure and tax multipliers

Short-run aggregate supply

A lesson on short-run aggregate supply, its determinants, and the relationship between a nation's aggregate price level and the quantity of output supplied by the nation's firms in the short run.

Long-run aggregate supply

A lesson on the total supply of output produced by a nation, otherwise known as the full employment, potential level of output

Equilibrium in the AD-AS Model

A lesson on the short-run equilibrium and real GDP determination in the AD-AS model

Changes in the AD-AS model in the short run

A lesson on how changes in aggregate demand and aggregate supply will affect equilibrium national output in the short run

Long run self-adjustment

A lesson on how an economy will adjust to changes in aggregate demand and aggregate supply in the long run, when all wages and prices are flexible

Fiscal policy

A lesson on fiscal policy: the government's use of taxes and spending to influence the level of aggregate demand, national output and employment, and the price level

Automatic stabilizers

A lesson on the automatic stabilizers built into government's budget which promote macroeconomic stability in the short run