Macroeconomics

This textbook concerns the wonderful world of macroeconomics, or economics on a very large scale, concerning national and international systems. It serves as an introduction to macroeconomics, and is primarily aimed at students in their final few years of secondary education, though it could also be used by interested students younger or older than that. See Intermediate Macroeconomic Theory for learning more advanced macroeconomics.

Knowledge of microeconomics would be useful and preferred, but grasping overall concepts does not require an in depth previous knowledge. See Principles of Economics for a brief introduction to both microeconomics and macroeconomics and Principles of Microeconomics for learning introductory microeconomics.

It is worth remembering that this textbook can be edited at any time, with the link at the top of this page. This is both good and bad - you yourself, having spotted a mistake or having noticed a poor definition, can correct it and should feel free to do so. The bad side is that anyone can edit it, so content may be inaccurate while the wikibook is in its infancy!

Contents

Macroeconomics
Macroeconomics
Section Article
Introduction Macroeconomic Objectives

Measuring Economic Activity
Macroeconomic Equilibrium
Role of Savings and Investment

Employment and Unemployment Definitions of Unemployment

Types and Causes of Unemployment
Consequences of Unemployment
Policies to Reduce Unemployment

Macroeconomic Variables Aggregate Expenditures

Multiplier Process
Expanded Multipliers
Aggregate Demand

Aggregate Supply
Macroeconomic Equilibrium in the Short Run and the Long Run

Money and Inflation Effects of Interest Rates on Real GDP
Economic Policy Government Spending (included in Fiscal Policy)

Taxation
Fiscal Policy
Monetary Policy
Supply-side Policy
Central Banks

Government Intervention Market Failure

Methods of Government Intervention
Government Failure

International Economics
Alternate Perspectives Radical Economics
Advanced Topics Math Review

Keynesian Demand-side Economics and Multipliers
Optimal Growth
Harrod-Johnson Diagram

Glossary of Terms

Proposed change

  1. Economics - Introduction to economics
  2. Market Economics - Basics of market economics, resources, and production possibilities
  3. Supply and Demand - Supply and Demand for single products
  4. Measuring Domestic Output - Gross Domestic Product and other indicators
  5. Open Economies - International trade
  6. Business Cycle - Basics of unemployment, inflation, and economic growth
  7. Aggregate Expenditures - Consumption, Investment, Government spending, and Exports
  8. Aggregate Supply and Demand - Basics of how an entire economy functions
  9. Fiscal Policy
  10. Money - How money is created and why it works
  11. Monetary Policy
  12. Government Finances

Advanced topics

  1. Math Review
  2. Keynesian Demand-side Economics and Multipliers
  3. Optimal Growth
  4. Harrod-Johnson Diagram

Useful background reading

The following links will lead you to Wikipedia, the online encyclopedia similar in style to this site. The information in these articles may go above and beyond that which you need to know for this book, though they will undoubtedly prove useful to refer back to from time to time, and are good portals to more relevant articles.

The following links take you to useful websites for learning, revising or expanding your knowledge:

For contributors

Any and all corrections, additions, alterations etc. are always welcome! If you wish some credit for your work, stick your name below :

Name Contribution
Evgeniy Chernyshov Inflation, Fiscal Policy, Monetary Policy
Jacob Taylor The Entire Glossary
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