ECO 151 Section Here Student Name Here

Cape Fear Community College

ECO 151 Survey of Economics

Chapter Notes Grading Instructions and Template

Video & Chapter Notes Learning Outcomes (LO’s) are to assist you in learning
economics. Each section, in a video or chapter, is a learning outcome.
Each video covers some history of the economy related to the chapters.
Economics exams are essay format and notes are much more than a glossary.

1. How to Find Chapters is in your textbook, Survey of Econ by Robert Sexton

2. All Notes are Due WEEKLY in 2 files for the semester, one for 18 videos & one
for 18 chapters, save to documents and USB

3. Notes are to be single spaced, typed Ariel 12 font, and do on Chapter Notes
Template below and submit on Blackboard…
Each Week should show the current notes added to Template…
Week 2 will include Week 1 in your submission  
Week 3 will include Week 1 and 2 in your submission  
Week 4 will include Week 1 and 2 and 3 in your submission 
This will continue until all notes are completed. 

4. Using Blackboard to Submit all Notes

A. Click Blackboard Coursework Link
B. Click on VIDEO & CHAPTER NOTES Heading
C. Scroll down the page to Browse My Computer
D. Attach your notes files then click Submit

5. Grading: Optional Extra Credit, 20 points 18 Chapter Notes

A. Read chapters & take notes on what you read; no analysis
B. The following are on the Chapter Template: Start each chapter on a new page
C. Number & title each chapter
D. Title & Number All sections in each chapter
E. Single space section notes in 1 to 10-bullet format, do not use dots

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TEMPLATE

Chapter 1 Role and Method of Economics

1.1 Economics Introduction

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1.2 Economic Behavior

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1-3 Markets

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1-4 Economic Theory

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1-5 Pitfalls in Scientific Thinking

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1-6 Positive & Normative Economics

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1-7 Why Study Economics

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Chapter 2 The Economic Way of Thinking

2-1 Choices, Costs and Trade-Offs

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2.2 Marginal Thinking

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2.3 Specialization and Trade

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2-4 The Production Possibilities of an Economy

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2-5 Society’s Three Basic Economic Questions

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Chapter 3 Supply and Demand

3-1 Competitive Markets

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3-2 Demand

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3-3 Supply

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3-4 Market Equilibrium Price and Quantity

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Chapter 4 Using Supply and Demand

4-1 Price Elasticity of Demand

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4-2 Total Revenue and Price Elasticity of Demand

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4-3 Price Elasticity of Supply

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4-4 Supply, Demand, and Policies of Government

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4-5 Consumer Surplus, Producer Surplus, and Efficiency of Markets

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Chapter 5 Market Failure and Public Choice

5-1 Externalities

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5-2 Public Goods

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5-3 Asymmetric Information

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5-4 Public Choice

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Chapter 6 Production and Costs

6-1 Firms & Profits: Total Revenues Minus Total Cost

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6-2 Short Run Versus Long Run

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6-3 Fixed Costs, Variable Costs, and Total Costs

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6-4 The Relationship Between Marginal Costs and Marginal Product

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6-5 Cost Curves: Short Run Versus Long Run

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Chapter 7 Competitive Markets

7-1 Perfectly Competitive Market

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7.2 Individual Price Taker’s Demand Curve

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7-3 Profit Maximization

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7-4 Short Run Profits and Losses

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7-5 Long Run Equilibrium

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7-6 Long Run Supply

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Chapter 8 Monopoly

8-1 Monopoly: The Price Maker

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8.2 Demand & Marginal Revenue in Monopoly

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8-3 The Monopolist’s Equilibrium

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8-4 Monopoly and Welfare Loss

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8-5 Monopoly Policy

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8-6 Price Discrimination

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Chapter 9 Monopolistic Competition & Oligopoly

9-1 Monopolistic Competition

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9-2 Price & Output Determination in Monopolistic Competition

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9-3 Monopolistic Competition Versus Perfect Competition

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9-4 Oligopoly

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9-5 Collusion and Cartels

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9-6 Game Theory and Strategic Behavior

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Chapter 10 Labor Markets, Income Distribution, and Poverty

10-1 Input Market

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10-2 Supply and Demand in the Labor Market

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10-3 Labor Market Equilibrium

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10-4 Labor Unions

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10-5 Income Distribution

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10-6 Poverty

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Chapter 11 Introduction of Macroeconomics

11-1 Macroeconomic Goals

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11-2 Employment and Unemployment

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11-3 Types of Unemployment

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11-4 Reasons for Unemployment

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11-5 Inflation

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11-6 Economic Fluctuations

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Chapter 12 Economic Growth

12-1 Economic Growth

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12-2 Determinants of Long-Run Economic Growth

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12-3 Public Policy & Economic Growth

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12-4 Measuring Economic Growth & Its Components

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12-5 Measuring Total Production

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12-6 Problems in Calculating an Accurate GDP

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12-7 Problems with GDP as a Measure of Economic Welfare

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Chapter 13 Aggregate Demand & Aggregate Supply

13-1 Aggregate Demand Curve

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13-2 Shifts in the Aggregate Demand Curve

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13-3 Aggregate Supply Curve

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13-4 Shifts in the Aggregate Supply Curve

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13-5 Macroeconomic Equilibrium

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Chapter 14 Fiscal Policy

14-1 Fiscal Policy

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14-2 Government Spending and Taxation

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14-3 Fiscal Policy and AD/AS Model

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14-4 Multiplier Effect

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14-6 Automatic Stabilizers

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14-7 National Debt

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Chapter 15 Monetary Institutions

15-1 What is Money

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15-2 Measuring Money

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15-3 How Banks Create Money

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15-4 Money Multiplier

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15-5 Bank Failures

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Chapter 16 The Federal Reserve & Monetary Policy

16-1 Federal Reserve System

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16-2 How does the Federal Reserve change the Money Supply?

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16-4 Expansionary and Contractionary Monetary Policy

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16-5 Money and Inflation: The Long Run

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Chapter 17 Issues in Macroeconomic Theory & Policy

17-1 Problems in Implementing Fiscal & Monetary Policy

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17-2 Rational Expectations

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17-3 Controversies in Macroeconomic Policy

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17-4 Financial Crisis of 2008-2009

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Chapter 18 International Economics

18-1 Growth in World Trade

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18-2 Comparative Advantage and Gains from Trade

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18-3 Supply & Demand in International Trade

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18-4 Tariffs

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18-5 Balance of Payments

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18-6 Exchange Rates

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