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Unit 1

Basics of Economics

Introduction to Economics

Scarcity and Choice

Supply and Demand

Market Equilibrium

Consumer and Producer Surplus

Market Failures

Government Intervention in Markets

Microeconomics vs. Macroeconomics

GDP and Economic Growth

International Trade

Inflation and Unemployment

Globalization and its impacts

Elasticity of Demand and Supply

Introduction to Macroeconomics

Monetary Policy

Unit 2

Basics of Economics

Introduction to Economics

Scarcity and Choice

Supply and Demand

Elasticity of Demand and Supply

Consumer and Producer Surplus

Introduction to Macroeconomics

GDP and Economic Growth

Monetary Policy

Globalization and its impacts

Market Failures

Microeconomics vs. Macroeconomics

Government Intervention in Markets

International Trade

Market Equilibrium

Inflation and Unemployment

Unit 3

Basics of Economics

Introduction to Economics

Scarcity and Choice

Supply and Demand

Elasticity of Demand and Supply

Microeconomics vs. Macroeconomics

GDP and Economic Growth

International Trade

Globalization and its impacts

Government Intervention in Markets

Market Failures

Inflation and Unemployment

Market Equilibrium

Consumer and Producer Surplus

Introduction to Macroeconomics

Monetary Policy

Unit 4

Basics of Economics

Introduction to Economics

Supply and Demand

Market Equilibrium

Elasticity of Demand and Supply

Microeconomics vs. Macroeconomics

Introduction to Macroeconomics

Inflation and Unemployment

International Trade

Globalization and its impacts

Scarcity and Choice

GDP and Economic Growth

Market Failures

Government Intervention in Markets

Consumer and Producer Surplus

Monetary Policy

Unit 5

Basics of Economics

Supply and Demand

Market Equilibrium

Consumer and Producer Surplus

Market Failures

Government Intervention in Markets

Microeconomics vs. Macroeconomics

Introduction to Macroeconomics

GDP and Economic Growth

Monetary Policy

International Trade

Globalization and its impacts

Scarcity and Choice

Inflation and Unemployment

Introduction to Economics

Elasticity of Demand and Supply

Unit 1 • Chapter 15

Monetary Policy

Key Insights

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Concept Check

How does a central bank's increase in reserve requirements impact the money supply?

Increases velocity of money circulation.

No significant impact on money supply.

Increases money supply; boosts lending.

Decreases money supply; reduces lending.

What is the primary goal of contractionary monetary policy?

Curb inflation; slow economic growth.

Maintain stable exchange rates.

Stimulate economic growth; lower unemployment.

Increase government spending; reduce taxes.

Which monetary policy tool directly influences the federal funds rate?

Inflation targeting; setting an inflation goal.

Reserve requirements; changing bank reserves.

Open market operations; buying or selling bonds.

Discount rate; changing the lending rate to banks.

How does quantitative easing (QE) affect the money supply?

Increases interest rates; reduces borrowing.

No impact on money supply; neutral effect.

Decreases money supply; contracts liquidity.

Increases money supply; expands liquidity.

Introduction to Macroeconomics

Fiscal Policy