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Principles of Macroeconomics 2e, Choice in a World of Scarcity, How Individuals Make Choices Based on Their Budget Constraint
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CC BY
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By the end of this section, you will be able to:

Calculate and graph budget constraints
Explain opportunity sets and opportunity costs
Evaluate the law of diminishing marginal utility
Explain how marginal analysis and utility influence choices

Subject:
Applied Science
Material Type:
Module
Date Added:
09/20/2018
Principles of Macroeconomics 2e, Choice in a World of Scarcity, The Production Possibilities Frontier and Social Choices
Unrestricted Use
CC BY
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By the end of this section, you will be able to:

Interpret production possibilities frontier graphs
Contrast a budget constraint and a production possibilities frontier
Explain the relationship between a production possibilities frontier and the law of diminishing returns
Contrast productive efficiency and allocative efficiency
Define comparative advantage

Subject:
Applied Science
Material Type:
Module
Date Added:
09/20/2018
Principles of Macroeconomics 2e, Demand and Supply, Demand, Supply, and Efficiency
Unrestricted Use
CC BY
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By the end of this section, you will be able to:
Contrast consumer surplus, producer surplus, and social surplus
Explain why price floors and price ceilings can be inefficient
Analyze demand and supply as a social adjustment mechanism

Subject:
Applied Science
Material Type:
Module
Date Added:
09/20/2018
Principles of Macroeconomics 2e, Demand and Supply, Demand, Supply, and Equilibrium in Markets for Goods and Services
Unrestricted Use
CC BY
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By the end of this section, you will be able to:

Explain demand, quantity demanded, and the law of demand
Identify a demand curve and a supply curve
Explain supply, quantity supplied, and the law of supply
Explain equilibrium, equilibrium price, and equilibrium quantity

Subject:
Applied Science
Material Type:
Module
Date Added:
09/20/2018
Principles of Macroeconomics 2e, Economic Growth, Components of Economic Growth
Unrestricted Use
CC BY
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By the end of this section, you will be able to:

Discuss the components of economic growth, including physical capital, human capital, and technology
Explain capital deepening and its significance
Analyze the methods employed in economic growth accounting studies
Identify factors that contribute to a healthy climate for economic growth

Subject:
Applied Science
Material Type:
Module
Date Added:
09/20/2018
Principles of Macroeconomics 2e, Economic Growth, Labor Productivity and Economic Growth
Unrestricted Use
CC BY
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By the end of this section, you will be able to:

Identify the role of labor productivity in promoting economic growth
Analyze the sources of economic growth using the aggregate production function
Measure an economy’s rate of productivity growth
Evaluate the power of sustained growth

Subject:
Applied Science
Material Type:
Module
Date Added:
09/20/2018
Principles of Macroeconomics 2e, Elasticity, Elasticity and Pricing
Unrestricted Use
CC BY
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By the end of this section, you will be able to:

Analyze how price elasticities impact revenue
Evaluate how elasticity can cause shifts in demand and supply
Predict how the long-run and short-run impacts of elasticity affect equilibrium
Explain how the elasticity of demand and supply determine the incidence of a tax on buyers and sellers

Subject:
Applied Science
Material Type:
Module
Date Added:
09/20/2018
Principles of Macroeconomics 2e, Elasticity, Elasticity in Areas Other Than Price
Unrestricted Use
CC BY
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By the end of this section, you will be able to:

Calculate the income elasticity of demand and the cross-price elasticity of demand
Calculate the elasticity in labor and financial capital markets through an understanding of the elasticity of labor supply and the elasticity of savings
Apply concepts of price elasticity to real-world situations

Subject:
Applied Science
Material Type:
Module
Date Added:
09/20/2018