Macroeconomics (Course Guide)

eTextbook Readings | Principles of Economics | OpenStax

NOTE: Be sure to review key terms, concepts, questions, and problems at the end of each chapter!

What is the Gross Domestic Product (GDP)?

Inflation

Defining the Unemployment Rate

Do you understand how to...?

• explain gross domestic product (GDP)
• describe economic growth and how it is measured
• analyze the tools used to measure the health of an economy
• identify major macroeconomic goals, performance standards and means of evaluating the economy's performance
• examine unemployment and inflation
• explain how economic indicators like GDP and unemployment rates and inflation rates are used to assess the state of the economy
• differentiate between and calculate nominal and real GDP
• Identify key institutional factors that contribute to economic growth
• investigate principal goals of macroeconomic analysis