Throughout the course of this lecture, we will explore the different areas of macroeconomics, including GDP, growth, government policy, trade and much more. This is the first building block to understanding economics as it allows you to then break down each large process and understand the greater detail that lies within. Our macroeconomics lecture was prepared by a qualified lecturer from a UK university with years of experience lecturing to macroeconomics students, aiming to provide an additional study resource.
Macroeconomics is the study of the top level of the economy, be that of a single country or a wider economic area through trade, and so forth. It allows us to understand the factors that govern the functioning of an economy, and the mechanisms that are involved. By studying with our free online macroeconomics lecture, you will develop a greater understanding of macroeconomics and will be better prepared for your coursework. This lecture is perfect for anybody that has missed any of their macroeconomics lectures, but also for those that are looking for additional resources to use as part of their revision.
- 1.1 Macroeconomic Fundamentals Lecture
Introduction: Macroeconomic fundamentals include topics that can affect the economy as a whole. This can include statistics regarding unemployment, supply and demand, inflation, as well as considerations for monetary or fiscal policy and international trade.
- 1.2 Income & Expenditure Lecture
Introduction: This chapter will consider the macroeconomic mechanisms that govern the flows of income and expenditure within an economy. It will first look at the key concept of the circular flow of income, which introduces many of the factors the govern national income in an economy.
- 1.3 Economic Growth Lecture
Introduction: Economic growth is the inflation-adjusted increase of the final market value of all goods and services produced in an economy over time. The common statistical measure used is GDP (gross domestic product), which is adjusted by an index of prices for the country in question.
- 1.4 Labour Demand, Supply & Equilibrium Lecture
Introduction: Labour forms a key aspect of economic study, not least because it is one of the most direct and impactful economic outcomes. 'Labour' is a representation of the roles undertaken by people within an economic system, how much they produce, and how they are compensated.
- 1.5 Money, Banking & Interest Rates Lecture
Introduction: This chapter begins by defining the global market system. The section explores the global financial system as marketplace for the demand and supply of capital. In order to understand the importance of the credit channel, we study the global financial system and the occurrence of market failures.
- 1.6 International Trade Lecture
Introduction: This chapter begins with an overview of the arguments for and against trade. There follows an examination of the theories of trade (classical trade theories and firm based theories). This touches on a number of theories including Mercantilism, absolute advantage, comparative advantage, Heckscher-Ohlin theory of international trade.
- 1.7 Poverty & Equality Lecture
Introduction: Welcome to the Social Issues lesson! When it comes to social issues in economics, poverty and inequality remain a topical issue, both in the developing and the developed world.