Principles of Macroeconomics | John B. Taylor and Akila Weerapana

- 1The Central Idea
- 2Observing and Explaining the Economy
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  - 2.1Why Has Driving Shifted into Reverse?
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  - 2.2Variables, Correlation, and Causation
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  - 2.3Recommending Appropriate Policies
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  - 2.4End-of-Chapter Material
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  - 2.5Appendix: Reading, Understanding, and Creating Graphs
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- 3The Supply and Demand Model
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  - 3.1Demand
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  - 3.2Supply
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  - 3.3Market Equilibrium: Combining Supply and Demand
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  - 3.4End-of-Chapter Material
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- 4Subtleties of the Supply and Demand Model
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  - 4.1Interference with Market Prices
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  - 4.2Elasticity of Demand
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  - 4.3Working with Demand Elasticities
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  - 4.4Elasticity of Supply
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  - 4.5End-of-Chapter Material
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- 5Macroeconomics: The Big Picture
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  - 5.1Measuring the “Size” of an Economy
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  - 5.2Unemployment, Inflation, and Interest Rates
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  - 5.3Macroeconomic Theory and Policy
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  - 5.4End-of-Chapter Material
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  - 5.5Appendix: The Miracle of Compound Growth
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- 6Measuring the Production, Income, and Spending of Nations
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  - 6.1Measuring GDP
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  - 6.2Saving
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  - 6.3Measuring Real GDP
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  - 6.4Shortcomings of the GDP Measure
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  - 6.5End-of-Chapter Material
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- 7The Spending Allocation Model
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  - 7.1The Spending Shares
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  - 7.2The Effect of Interest Rates on Spending Shares
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  - 7.3Determining the Equilibrium Interest Rate
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  - 7.4The Relationship between Saving and Investment
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  - 7.5End-of-Chapter Material
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- 8Unemployment and Employment
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  - 8.1Unemployment and Other Labor Market Indicators
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  - 8.2The Nature of Unemployment
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  - 8.3Modeling the Labor Market
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  - 8.4End-of-Chapter Material
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- 9Productivity and Economic Growth
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  - 9.1Labor and Capital without Technology
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  - 9.2Technology: The Engine of Growth
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  - 9.3Fundamental Causes of Economic Growth
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  - 9.4Measuring Technology
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  - 9.5Technology Policy
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  - 9.6End-of-Chapter Material
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  - 9.7Appendix: Deriving the Growth Accounting Formula
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- 10Money and Inflation
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  - 10.1What Is Money?
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  - 10.2The Fed, the Banks, and the Link from Reserves to Deposits
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  - 10.3Money Growth and Inflation
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  - 10.4End-of-Chapter Material
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- 11The Nature and Causes of Economic Fluctuations
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  - 11.1Changes in Aggregate Demand Lead to Changes in Production
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  - 11.2Forecasting Real GDP
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  - 11.3The Response of Consumption to Income
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  - 11.4Finding Real GDP When Consumption and Income Move Together
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  - 11.5Spending Balance and Departures of Real GDP from Potential GDP
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  - 11.6End-of-Chapter Material
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  - 11.7Appendix: Deriving the Formula for the Keynesian Multiplier and the Forward-Looking Consumption Model
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- 12The Economic Fluctuations Model
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  - 12.1The Aggregate Demand Curve
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  - 12.2The Inflation Adjustment Line
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  - 12.3Combining the Aggregate Demand Curve and the Inflation Adjustment Line
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  - 12.4End-of-Chapter Material
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- 13Using the Economic Fluctuations Model
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  - 13.1Changes in Government Purchases
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  - 13.2Changes in Monetary Policy
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  - 13.3Price Shocks
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  - 13.4Using the Economic Fluctuations Model to Understand the Great Recession
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  - 13.5Using the Economic Fluctuations Model to Understand the Impact of the COVID-19 Pandemic on the Macroeconomy
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  - 13.6End-of-Chapter Material
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- 14Fiscal Policy
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  - 14.1The Government Budget
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  - 14.2Countercyclical Fiscal Policy
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  - 14.3The Structural versus the Cyclical Surplus
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  - 14.4End-of-Chapter Material
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- 15Monetary Policy
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  - 15.1The Federal Reserve’s Balance Sheet
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  - 15.2Money Demand and Zero Interest Rate
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  - 15.3When the Interest Rate Hits Zero
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  - 15.4The Economic Fluctuations Model
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  - 15.5Central Bank Independence
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  - 15.6The Exchange Rate
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  - 15.7End-of-Chapter Material
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- 16Capital and Financial Markets
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  - 16.1The Distinction between Physical Capital and Financial Capital
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  - 16.2Markets for Physical Capital
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  - 16.3Markets for Financial Capital
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  - 16.4The Trade-off between Risk and Returns
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  - 16.5Corporate Governance Problems
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  - 16.6The Role of Government in Financial Markets
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  - 16.7End-of-Chapter Material
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  - 16.8Appendix: Present Discounted Value
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- 17Economic Growth Around the World
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  - 17.1Catching Up (or Not?)
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  - 17.2Economic Development
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  - 17.3The Spread and Use of Technology
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  - 17.4Increasing Capital per Worker
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  - 17.5End-of-Chapter Material
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- 18International Trade
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  - 18.1Trends in International Trade
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  - 18.2Comparative Advantage
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  - 18.3Reasons for Comparative Advantage
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  - 18.4Gains from Expanded Markets
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  - 18.5Tariffs and Quotas
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  - 18.6The History of Trade Restrictions
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  - 18.7Arguments for Trade Barriers
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  - 18.8How to Reduce Trade Barriers
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  - 18.9End-of-Chapter Material
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- 19International Finance
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  - 19.1Exchange Rates
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  - 19.2Exchange Rate Determination
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  - 19.3Fixed Exchange Rates
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  - 19.4Currency Unions
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  - 19.5End-of-Chapter Material
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