This set of class notes tackles the first of the four sectors of GDP, the consumption sector. Topics covered in this include; consumption function, savings, Average Propensity to Consume (APC), Average Propensity To Save (APS), Marginal Propensity to Consume (MPC), Marginal Propensity To Save (MPS), Autonomous & Induced Consumption, and Permanent Income Hypothesis. Definitions and equations for each of these topics are also provided in each section.

A brief introduction notes of what is gross domestic product (GDP) and how it is calculated. Some examples of a mathematical calculation is provides along with the equation for GDP. Also, a brief explanation for Net Domestic Product (NDP) and Net Income (NI). It also covers nominal GDP, real GDP, Per Capita GDP and Gross Progress Index (GPI).

The notes cover the government sector of a nation’s economy and its role in shaping the economy. It started with brief history of the US government’s role in the economy and its duty to the economy. Other subject covered are; Local Government Spending, Government Purchases, Transfer Payments, Average Tax Rate, Marginal Tax Rate, Types of taxes, Personal Income Tax, Payroll Tax, Corporate Income Tax, Excise Taxes, Estate Tax, Adam Smith’s economics, social security and US Medicare.

Notes that cover the concept of economic growth and productivity in the nation. These notes covers the following; Industrial Revolution, savings, investment, labor force, Permanent underclass, US immigration, Deteriorating Transportation System, rising healthcare cost, service economy, and Malthusian Theory of Population.

Class notes that cover the import-export sector of a country’s GDP. It covers the concept of international trade, the balance of trade, free trade organizations, and Free Trade Zones. Organizations covered in these note include; World Trade Organization (WTO), NAFTA, EU, and more.

A introduction of the concept of money as medium of exchange and how the banks work. Subjects covered by these notes include; brief history of money, money supply, demand for money, money balance, inflation , income, interest rates, credit availability, goldsmiths, reserve ratio, modern banking, types of banks, banking deregulation, home mortgage, subprime mortgage crisis (financial crisis of 2008), Federal Deposit Insurance Corporation (FDIC), and Overdraft Privileges. Some example are provided with mathematical calculations to help students do their homework problems or understand how to calculate basic parameters.

An introduction of the definition of fiscal policy and subjects that fall under this economic chapter. These subjects include; Balanced Budget, Budget deficit, Budget surplus, Keynesian fiscal policy, Recessionary Gaps, Inflationary Gaps, Marginal Propensity To Consumer (MPC), Marginal Propensity To Save (MPS), Automatic Stabilizer, Discretionary Fiscal Policy and Public debt. There are mathematical calculation provided to display how calculate certain parameters in the economic subjects discussed. A small brief history of US fiscal policy is also provided to display the evolution of economic theories.

Notes covering the business sector in a nation’s economy and its contribution to the GDP. Subject covered in these notes includes; Buiness firm types, stocks, bonds, Capitalization, Gross Investment, Net Investment, Capacity Utilization, sales outlook, interest rates, and Expected Rate of Profit (ERP). Example of numerical calculations are also provided for homework assistance.

Notes cover the introduction to the institution called the US federal reserve and its role in monetary policy. It starts with a brief history of the creation of the US federal reserve, its role in the monetary system and it involvement with banks. Other subject covered are; Deposit Expansion Multiplier (DEM), Deposit Expansion Process, Electronic Transfers, Federal Open-Market Committee, Key Interest Rates, Contractionary Monetary Policy Transmission Mechanism, Expansionary Monetary Policy Transmission Mechanism, Monetary Policy Lags, and Great 2008 Recession