Part 1. Understanding the macro economy : Output : Measuring national output ; Exchange of output across countries ; What makes output go up and down? ; Isn't wealth more important than output?
Money : Money and its effect on interest rates, exchange rates, and inflation ; Nominal versus real ; Money and banking ; The art and science of central banking
Expectations : Expectations and inflation ; Expectations and output ; Expectations and other macro variables
Part 2. Selected topics: background and mechanics : A short history of money and monetary policy in the United States : Defining the unit of account and the price of money ; The gold standard: a self-regulating mechanism? ; The creation of the Federal Reserve ; Finding the right monetary rule under a floating exchange rate ; The transformation of American monetary policy
The fundamentals of GDP accounting : Three measurement approaches ; The nuts and bolts of the expenditure method ; Depreciation ; GDP versus GNP ; Historical and cross-country comparisons ; Investment, savings, and foreign borrowing
Reading a balance of payments statement : A typical balance of payments statement ; Understanding credits and debits ; The power and pitfalls of BOP accounting
Understanding exchange rates : The current account balance ; Inflation and purchasing power parity ; Interest rates ; Making sense of exchange rates
Conclusion : Output ; Money ; Expectations ; Uses and misuses of macroeconomics.