INTRODUCTION
Today we will begin our study of macroeconomics. We will discuss several big macro concepts. The circular flow model will extend our knowledge of markets beyond what we did in the first unit. We will also discuss the concept of business cycles and introduce a key measurement of economic performance, GDP. We will also learn about how to determine. This page contains all the information you need for today's class: homework, helpful resources (videos, podcasts, etc.) and an explanation of the activities we will do in class. Use the table of contents on the right to help you navigate.
Read Mankiw (Chapter 23) and watch the following videos.
Problem of the Day: Not today!
Lecture
Circular flow, business cycles, and GDP