Macroeconomics

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