Investment and Consumption

Components of GDP

Some basic, but important, insights into economics

This intended to introduce students to economics for the first time, but I think it fits well with where we're at in the course. I think he does a pretty fair treatment of the strengths and weaknesses inherent in economics, whether we are talking micro or macro. This would useful to you as you review for the quiz.

GDP: What to count?

Here's a video that elaborates a little on what is and is not counted in GDP.

 

Circular Flow of Income and Expenditures

If you are struggling with the circular flow diagram, take a look at this video. It gets to the point. But, be careful - it's a little too simple. Clearly, the economy has more than one person. Also, this model does not allow for leakages and injections, which are crucial for understanding things like growth and determination of the level of employment.