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Intermediate Macroeconomics

Free Intermediate Macroeconomics study guide: 10 units with summaries, key ideas, flashcards and 300 practice questions with step-by-step solutions.

Lines up with: College intermediate macroeconomic theory.

Start studying Intermediate MacroeconomicsFormula and fact sheet

Units

  1. UNIT 01

    Measuring the Macroeconomy

    Before you can model the economy you need to measure it. This unit covers how GDP, price indexes and unemployment are built, and what each one leaves out.
  2. UNIT 02

    The Classical Model and Loanable Funds

    The classical model explains what determines output, how income is divided between workers and capital owners, and how the real interest rate balances saving and investment in the long run.
  3. UNIT 03

    Money and Inflation

    This unit explains how the money supply is created, why sustained money growth causes inflation in the long run, and how inflation affects interest rates and the economy.
  4. UNIT 04

    The Open Economy and Exchange Rates

    This unit extends the classical model to trade and capital flows, showing what determines the trade balance and the exchange rate and how policy changes them in the long run.
  5. UNIT 05

    Unemployment

    This unit explains why some unemployment exists even in a healthy economy, what sets the natural rate, and how policies and institutions change it.
  6. UNIT 06

    Economic Growth: The Solow Model

    The Solow model explains how saving, population growth and technology determine living standards and growth in the long run, and why only technological progress delivers sustained growth.
  7. UNIT 07

    IS-LM Model

    The IS-LM model explains how output and the interest rate are determined in the short run when prices are fixed, and how fiscal and monetary policy affect them.
  8. UNIT 08

    Aggregate Demand and Aggregate Supply

    The AD-AS model shows how demand and supply shocks move output and prices in the short run and how the economy returns to its natural level of output in the long run.
  9. UNIT 09

    The Phillips Curve and Expectations

    The Phillips curve links inflation to unemployment in the short run. This unit shows how expectations make the tradeoff temporary and why disinflation is costly unless policy is credible.
  10. UNIT 10

    Monetary and Fiscal Policy Debates

    This unit covers the big policy debates: whether policy should actively stabilize the economy, whether it should follow rules, how to judge government debt, and what to do at the zero lower bound.