Aggregate Output, Prices, and Economic Growth (2025 Level I CFA Exam – Economics – Module 3)

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Topic 2 – Economics
Module 3 – Aggregate Output, Prices, and Economic Growth
0:00 Introduction and Learning Outcome Statements
2:54 LOS : Calculate and explain gross domestic product (GDP) using expenditure and income approaches.
7:14 LOS : Compare the sum-of-value-added and value-of-final-output methods of calculating GDP.
9:08 LOS : Compare nominal and real GDP and calculate and interpret the GDP deflator.
11:46 LOS : Compare GDP, national income, personal income, and personal disposable income.
13:48 LOS : Explain the fundamental relationship among saving, investment, the fiscal balance, and the trade balance.
15:45 LOS : Explain how the aggregate demand curve is generated.
20:30 LOS : Explain the aggregate supply curve in the short run and long run.
24:57 LOS : Explain causes of movements along and shifts in aggregate demand and supply curves.
34:25 LOS : Describe how fluctuations in aggregate demand and aggregate supply cause short-run changes in the economy and the business cycle.
40:35 LOS : Distinguish among the following types of macroeconomic equilibria: long-run full employment, short-run recessionary gap, short-run inflationary gap, and short-run stagflation.
43:28 LOS : Explain how a short-run macroeconomic equilibrium may occur at a level above or below full employment.
46:37 LOS : Analyze the effect of combined changes in aggregate supply and demand on the economy.
48:58 LOS : Describe sources, measurement, and sustainability of economic growth.
55:32 LOS : Describe the production function approach to analyzing the sources of economic growth.
59:10 LOS : Distinguish between input growth and growth of total factor productivity as components of economic growth.