Part 1 Introduction: media economics up-and-down economics policy evaluation a picture can be worth a thousand words really important macroeconomics ideas. Part 2 Measuring GDP and inflation: what is GDP? - curiosity: what is the difference between GDP and GNP? estimating GDP real versus nominal GDP measuring inflation - curiosity: how do the GDP deflator and the CPI differ? the costs of inflation - what level of inflation should we aim for? GDP as gross deceptive product media illustrations. Appendix: measuring GDP by adding up incomes. Part 3 Unemployment: defining and measuring unemployment - curiosity: how to unemployment measured? the employment/ unemployment connection what is full employment? - curiosity: why is unemployment so high in Europe? the cost of unemployment - curiosity: what is Okun's law? media illustrations. Part 4 The Keynesian approach: aggregate demand - curiosity: what about unwanted investment in inventories? determining national income the multiplier - curiosity: what is the multiplier? inventories and forecasting policy implications - curiosity: what is a leading indicator? media illustrations. Appendices: macroeconomics before Keynes - the classical school the circular flow of income the 45 grades line diagram algebraic derivation of the multiplier. Part 5 The supply side: the aggregate supply curve the aggregate demand curve using the aggregate supply/aggregate demand diagram where is full employment? moving into a boom - curiosity: how do AD and AS curves differ from macroeconomic curves? moving into recession - curiosity: are real wages countercyclical? analyzing supply shocks supply-side economics - curiosity: what is real business-cycle theory? media illustrations. Appendix: deriving the AD curve. Part 6 Growth: the determinants of growth - curiosity: what is endogenous growth theory? the productivity growth process the role of national saving policy for growth - curiosity: why about foreign financing? media illustrations. Part 7 Crowding out: automatic stabilizers financing an increase in government spending - curiosity: what is the balanced-budget multiplier? media illustrations. Appendix: Ricardian equivalence. Part 8 The money supply: what is money? - curiosities: what is the Fed?, what is NOW account? fractional-reserve banking - curiosity: what are the legal reserve requirements? controlling the money supply the money multiplier - curiosity: how big is the money multiplier? media illustrations. Part 9 The monetarist rule: the quantity theory the modern quantity theory - curiosity: does excess money really affect spending? (Part contents).