Basic introduction to what microeconomics and macroeconomics study. A bit on Adam Smith. This video will enforce standard EPF. 1

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Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters. Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition. The first edition of Principles of Macroeconomics by OpenStax is available in web view here.

By the end of this section, you will be able to:

Analyze arguments against economic approaches to decision-making
Interpret a tradeoff diagram
Contrast normative statements and positive statements

In this chapter, you will learn about:
Macroeconomic Perspectives on Demand and Supply
Building a Model of Aggregate Demand and Aggregate Supply
Shifts in Aggregate Supply
Shifts in Aggregate Demand
How the AD/AS Model Incorporates Growth, Unemployment, and Inflation
Keynes’ Law and Say’s Law in the AD/AS Model

By the end of this section, you will be able to:

Explain Say’s Law and understand why it primarily applies in the long run
Explain Keynes’ Law and understand why it primarily applies in the short run

By the end of this section, you will be able to:

Discuss the importance of studying economics
Explain the relationship between production and division of labor
Evaluate the significance of scarcity

This site from Bibliomania.com provides the full and complete text to Adam Smith's The Wealth of Nations. Includes an introduction to the text, along with a table of contents that allows access to each individual chapter by link.