This course prepares the student to understand the economic structure of the United States and its place in the world economy, to interpret common economic measures, to understand the processes of governmental fiscal and monetary policies, and to evaluate individual decision-making from an economic perspective.
This podcast is intended for students of my ECON 1112 class at NAIT.
Professor Keith Pilbeam is a Professor of International Economics and Finance at City University London.He obtained his PhD from the European University Institute in Florence. He has worked for NatWest Bank and the Royal Bank of Scotland and has do...
This course covers macroeconomics. Course 1A and 1B may be taken in either order. Analysis of the economy as a whole; determinants of the level of income, employment and prices; money and banking, economic fluctuations, international trade, economic development; the role of public policy.
In response to the 2008 financial crisis, the Fed employed some new instruments and approaches to getting the economy back on track. In this video we explore three of these: quantitative easing, paying interest on reserves, and conducting repurchase (and...
In the United States, the Federal Reserve controls the supply of money. This makes it a pretty massive player in the US – and world – economy.The Fed can use the money supply and interest as tools to influence aggregate demand. But how the Fed does this...
As we've covered previously, the aggregate-demand aggregate-supply model is a useful tool for helping us understand what's going on in an economy. But it can get pretty complicated.In this video, we're going to take a look at the following real-world...
We’re going to explore the mechanics of the aggregate-demand aggregate-supply (AD-AS) model. In our example, we’ll measure the economy’s inflation rate as well as the real GDP growth rate on the vertical and horizontal axes.A country’s normal GDP growth...
There’s an old analogy about blind men grasping an elephant.Elephants are huge creatures. If you’re touching the trunk, but you can’t see the whole elephant, you’re going to have a very different perspective from someone touching a leg. It doesn’t mean...
Lesson 45 – Changes to the Exchange Rate (Chapter 17)By Ted Noakes
Lesson 44 – The Current and Capital Account and Exchange Rates (Chapter 17)By Ted Noakes
Lesson 43 – Secondary Advantages and Arguments Against Trade (Chapter 16)By Ted Noakes
Lesson 42 – Gains from Trade (Chapter 16)By Ted Noakes
Lesson 41 – Trade using Comparative Advantage (Chapter 16)By Ted Noakes
The Austrian school of economic thought emphasizes market price signals and how they communicate decentralized information in an economy. The Austrian business cycle theory focuses on how central banks can distort those price signals.When central banks...
So far in our business cycles deep dive, we’ve covered two of the four main theories: Keynesian and monetarist. Now, we’re going to move away from aggregate demand and monetary policy to check out the supply side of things in real business cycle (RBC)...
Meet the monetarists! This business cycle theory emphasizes the effect of the money supply and the central bank on the economy. Formulated by Nobel Laureate Milton Friedman, it’s a “goldilocks” theory that argues for a steady rate of fairly low inflation...
Lesson 40 – Keynesian Transmission Mechanism (Chapter 14)By Ted Noakes
Lesson 39 – Money Demand (Chapter 14)By Ted Noakes
Lesson 38 – Bank of Canada and Changes in the Money Supply (Chapter 14)By Ted Noakes
Lesson 37 – Money Creation by Central Banks (Chapter 14)By Ted Noakes
Lesson 36 -Central Banks (Chapter 14)By Ted Noakes
Lesson 35 – Math and Dynamics of Reserve Banking (Chapter 13)By Ted Noakes
One point of contention among economists is the causes of business cycles and recessions. And if you disagree on the causes, chances are that you disagree on the solutions.In this video series, we’re going to explore some of the major business cycle...
Lesson 34 – Gold and the Origins of Reserve Banking (Chapter 13)By Ted Noakes
Lesson 33 – Measures of the Money Supply and Intermediaries (Chapter 13)By Ted Noakes
Lesson 32 – Monetary StandardsBy Ted Noakes
Lesson 31 – Introduction to Money (Chapter 12)By Ted Noakes
Lesson 30 – Discretionary Fiscal Policy (Chapter 11)By Ted Noakes
Lesson 29 – Problems in the Current Account (Chapter 11)By Ted Noakes
Lesson 28 – Offsets to Fiscal Policy (Chapter 11)By Ted Noakes
Lesson 27 – Government Debt in Canada (Chapter 11)By Ted Noakes
Lesson 26 – Fiscal Policy (Chapter 11)By Ted Noakes
Lesson 25 – The Multiplier and Leakages (Chapter 9)By Ted Noakes
Lesson 24 – Multiplier Math (Chapter 9)By Ted Noakes
Lesson 23 – The Multiplier Part 1 (Chapter 9)By Ted Noakes
Lesson 22 – Keynesian Equilibrium (Chapter 9)By Ted Noakes
Lesson 21 – The Investment Function (Chapter 9)By Ted Noakes
Lesson 20 – Consumption Function and the Propensity to Consume (Chapter 9)By Ted Noakes
Lesson 19 – The Consumption Function (Chapter 9)By Ted Noakes
Effective fiscal policy has to be timely, targeted, and temporary. But how the central bank, businesses, and consumers respond to fiscal policy also plays a role in how effective it is.When expansionary fiscal policy is enacted, what happens to the...
Lesson 18 – More on Inflationary and Recessionary Gaps (Chapter 8)By Ted Noakes
Lesson 17 – Macroeconomic Equilibrium (Chapter 8)By Ted Noakes
Lesson 16 – Shifts in SRAS (Chapter 8)By Ted Noakes
Lesson 15 – Shape of the SRAS (Chapter 8)By Ted Noakes
Lesson 14 – Lessons in Aggregate Supply (Chapter 8)
Lesson 13 – Changes in Aggregate Demand (Chapter 6)
Lesson 12 – Aggregate Demand (Chapter 6)
In the early 2000s, Argentina’s debt reached 150% of GDP, leading to what was the largest government default in the history of the world.But Argentina is not alone. Other countries before and since have also defaulted on their debts: Thailand, Indonesia...
Lesson 11 – Determinants of Economic Growth (Chapter 7)
Lesson 10 – GDP Growth (Chapter 7)
Lesson 9 – Limitations of GDP (Chapter 5)
Lesson 8 – Other GDP Measures (Chapter 5)
Lesson 7 – Expenditure Approach to GDP