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Economics
Foundational Economics
Macroeconomics
1. Introduction to Macroeconomics
2. Measuring a Nation's Economy
3. The Real Economy in the Long Run
4. Money and Prices in the Long Run
5. Short-Run Economic Fluctuations
6. The Influence of Monetary and Fiscal Policy
7. The Short-Run Trade-off Between Inflation and Unemployment
8. Open-Economy Macroeconomics
9. Macroeconomic Policy Debates
Money and Prices in the Long Run
The Monetary System
The Meaning and Functions of Money
Medium of Exchange
Unit of Account
Store of Value
Standard of Deferred Payment
The Evolution of Money
Barter System
Commodity Money
Representative Money
Fiat Money
Kinds of Money
Commodity Money
Gold Standard
Silver Standard
Fiat Money
Government Backing
Legal Tender
Money in the Economy
Measures of Money Supply
M1 Components
Currency
Demand Deposits
Other Checkable Deposits
M2 Components
M1 Plus
Savings Deposits
Time Deposits
Money Market Funds
Broader Measures
Money Creation by Banks
Fractional Reserve Banking
Reserve Requirements
Money Multiplier
Credit Creation Process
The Central Bank
Structure and Functions
Monetary Policy
Bank Regulation
Financial System Oversight
Lender of Last Resort
Federal Reserve System
Board of Governors
Federal Open Market Committee
Regional Federal Reserve Banks
Independence of Central Banks
Political Independence
Operational Independence
The Role of Commercial Banks
Lending and Deposits
Reserve Requirements
Bank Balance Sheets
Profit Maximization
Money Growth and Inflation
The Classical Theory of Inflation
Quantity Theory of Money
Long-Run Neutrality of Money
Classical Dichotomy
The Quantity Theory of Money
The Quantity Equation
Velocity of Money
Income Velocity
Transactions Velocity
Determinants of Velocity
Assumptions of Quantity Theory
Money Demand
Transactions Demand
Precautionary Demand
Speculative Demand
Factors Affecting Money Demand
The Fisher Effect
Nominal vs Real Interest Rates
Inflation Expectations
Empirical Evidence
The Costs of Inflation
Anticipated Inflation Costs
Shoeleather Costs
Menu Costs
Tax Distortions
Unanticipated Inflation Costs
Arbitrary Redistributions
Uncertainty Effects
Relative-Price Variability
Confusion and Inconvenience
Hyperinflation
Historical Examples
Causes
Fiscal Deficits
Money Printing
Consequences
Economic Collapse
Social Disruption
Ending Hyperinflation
Deflation
Causes
Consequences
Policy Challenges
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3. The Real Economy in the Long Run
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5. Short-Run Economic Fluctuations