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Master macroeconomics

A rigorous progression from foundational national accounting to advanced dynamic stochastic general equilibrium frameworks.

5 StepsINTERMEDIATE tierAdaptive ExamShareable Cert6 free credits to unlock
Step 1 of 5 · Free preview

National Income Accounting and Identities

Quantify aggregate economic activity using the expenditure and income approaches.

GDPValue AddedNational Income Identity

Part 1/3 — Advanced Theory & Mechanics

This technical whitepaper examines the structural architecture of National Income Accounting (NIA), focusing on the formalization of the System of National Accounts (SNA 2008) framework maintained by the United Nations, IMF, and OECD. The core objective is to deconstruct the Gross Domestic Product (GDP) identity into its constituent exogenous and endogenous variables, examining the flow of funds through the prism of the Fundamental Identity: Output (Y) ≡ Expenditure (E) ≡ Income (I). By analyzing the friction between the Production Approach, the Expenditure Approach, and the Income Approach, this section provides the mathematical baseline for modeling macroeconomic stability, inflationary gaps, and the velocity of capital within a closed or open economy.

Step 2 of 5 · Locked

The IS-LM Framework and General Equilibrium

Synthesize the goods market and money market to determine equilibrium interest rates and output.

IS-LM ModelLiquidity PreferenceCrowding Out
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AS-AD Model and Inflation Dynamics

Incorporate labor market constraints and price flexibility into the aggregate framework.

Sticky PricesNatural Rate of UnemploymentPhillips Curve
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Solow-Swan Neoclassical Growth Theory

Model the long-run determinants of economic growth through capital accumulation and technology.

Steady StateGolden Rule LevelCapital Intensity
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Open Economy Macroeconomics and Exchange Rates

Extend macroeconomic models to international trade and capital flows.

Mundell-FlemingPurchasing Power ParityCapital Account Balance