Correlations

Economics: Principles and Tools, 2nd Edition ©2001

Arthur O'Sullivan and Steven M. Sheffrin

Macroeconomics

Correlated with AP* Macroeconomics, May 2000

ST = Student textbook pages

1. Basic Economic Concepts
   1. Scarcity: the nature of economic systems
      ST: 2, 3
   2. Opportunity costs and production possibilities
      ST: 3–6, 24–27, 164–165, 465, 554, 585, 662
   3. Specialization and comparative advantage
      ST: 45–46
   4. The functions of any economic system (what, how, and for whom to produce)
      ST: 2, 7–9, 9–10, 44–45, 47–49, 55
   5. Demand, supply, price determination
      ST: 63–96, 163–186
   
   
2. Measurement of economic performance
   1. Gross national product, gross domestic product, and national income concepts
      ST: 417–434, 523–524
   2. Inflation and price indices
      ST: 10, 436–440, 444, 621–642
   3. Unemployment
      ST: 10, 12, 435–450, 500, 621–642, 651–653, 657
   
   
3. National income and price determination
   1. Aggregate supply
      1. Classical analysis
         ST: 506–508
      2. Keynesian analysis
         ST: 508–509
      3. Rational expectations
         ST: 630–631
   2. Aggregate demand
      1. Circular flow
         ST: 47–48, 419–421
      2. Components of aggregate demand
         ST: 504–506
      3. Multiplier
         ST: 521–524, 525–527, 538, 542–545
      4. Fiscal policy
         ST: 527–536
      5. Monetary policy
         ST: 583–602
   3. Money and banking
      1. Definition of money and its creation
         ST: 566, 572–574
      2. Tools of central banking policy
         ST: 574–578
   4. Fiscal-monetary mix
      1. Interaction of fiscal and monetary policies
         ST: 587–594, 595–601
      2. Monetarist-Keynesian controversy
         ST: 447, 498, 632–635
      3. Deficits
         ST: 644–651
   5. Trade-offs between inflation and unemployment
      1. Long run versus short run
         ST: 511–512, 604, 623–624, 635
      2. Supply shocks
         ST: 510–511
      3. Role of expectations
         ST: 622–626
   
   
4. Economic Growth
   ST: 421, 471–496
   
   
5. International finance, exchange rates, and balance of payments
   1. International trade and policy
      ST: 861–882
   2. International finance, exchange rates, and balance of payments
      ST: 50–52, 60, 593, 654, 683–704