Macroeconomic
Flows
| Closed Economy | Open Economy | |
| Definitions
and Categories |
1.1 Basic Categories of National Income Accounting | 2.1 Basic Categories in an Open Economy |
| Framework | 1.2 Putting the Categories Together | 2.2
Assembling the Picture
Additional Open-Economy images: large size, small size |
| Model | 1.3 Income-Expenditure Model | 2.3 Open-Economy Income-Expenditure Model |
A note to anyone outside my classes using this material:
this is designed to help students who have not taken a macroeconomics
course quickly grasp the main concepts of the macro framework. For
this reason some nuances and distinctions that would be made in a formal
macroeconomics class are omitted here.