A Guided Tour through Euro Area Economics

AGuidedTourthroughEuroArea
Economics
Basics–Methods–Applications
Prof.Dr.DieterGerdesmeier

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Dieter Gerdesmeier

A Guided Tour through
Euro Area Economics
Basics – Methods – Applications

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A Guided Tour through Euro Area Economics: Basics – Methods – Applications
1st edition
© 2015 Dieter Gerdesmeier & bookboon.com
ISBN 978-87-403-1180-8
Peer reviewed by
Prof. Dr. Horst Löchel, Programm Direktor MBA
Professor für Volkswirtschaftslehre, Frankfurt School of Finance & Management

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A Guided Tour through Euro Area Economics:

Basics – Methods – Applications

Contents

Contents
1

Introduction and motivation

11

Part I

12

2

Understanding Economics

13

2.1

Learning Objectives

13

2.2

Basic Concepts

13

2.3

Microeconomics and Macroeconomics

13

2.4

Ex Ante and Ex Post Analysis

14

2.5

A Short History of Economics

14

2.6

Some Key Macroeconomic Variables

16

2.7

Some Key Macroeconomic Issues

17

2.8

Summary

17

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A Guided Tour through Euro Area Economics:
Basics – Methods – Applications

Contents

3

A Look into the Tool Box

19

3.1

Learning Objectives

19

3.2

Models

19

3.3

Types of Analysis

19

3.4

Analysis of Supply and Demand

23

3.5

Complementary and Substitute Goods

29

3.6

Slope and Elasticity

29

3.7

Summary

34

4

National Income Accounting

36

4.1

Learning Objectives

36

4.2

Accounting Conventions

36

4.3

Nominal and Real GDP

37

4.4

GDP and Welfare

37

4.5

A Circular Flow Analysis

39

4.6

Summary

40

360°
thinking

.

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