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ECON 248 Macroeconomics – Complete Study Guide Units 1–6 | Athabasca University | 2025/2026

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ECON 248 (ECON248)
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Struggled to find good notes for ECON 248 at Athabasca University? Same — so I made this myself over the course of the semester and figured I'd share it. This is a full study guide covering all six units of ECON 248 (Macroeconomics) at AU, based on Mankiw, Kneebone & McKenzie's Principles of Macroeconomics, 9th Canadian Edition (2024). It's designed specifically for the AU course structure delivered through Brightspace. What's inside: Unit 1 – Introduction to Economics (scarcity, opportunity cost, positive vs. normative, circular flow, Ten Principles) Unit 2 – The Data of Macroeconomics (GDP, CPI, inflation calculations, unemployment types, Okun's Law) Unit 3 – The Real Economy in the Long Run (production function, loanable funds market, crowding out, growth policies) Unit 4 – Money and Prices in the Long Run (money supply, Quantity Theory, Fisher Effect, costs of inflation, hyperinflation) Unit 5 – The Macroeconomics of Open Economies (balance of payments, exchange rates, PPP, net capital outflow) Unit 6 – Macroeconomic Fluctuations and Policy (AD–AS model, fiscal policy, monetary policy, Phillips Curve, multiplier effect) Every unit includes key definitions, important formulas, and study tips flagging the exact types of questions that show up on quizzes and the final exam. I organized it so you can use it as a quick reference the night before an exam or as a full walkthrough when you're starting a new unit. Course: ECON 248 – Macroeconomics University: Athabasca University (AU) Academic Year: 2025/2026 Textbook: Mankiw, Kneebone & McKenzie – Principles of Macroeconomics, 9th Canadian Ed. Grading covered: Unit quizzes (30%), Assignments (40%), Final Exam (30%) Hope it helps — good luck on your quizzes!

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ECON 248
Macroeconomics
Athabasca University · Academic Year 2025/2026




Complete Study Guide — Units 1 to 6




Based on Mankiw, Kneebone & McKenzie – Principles of Macroeconomics, 9th Canadian Ed. (2024)




Course Grading Breakdown

Activity Weight

Six Unit Quizzes (5% each) 30%

Assignment 1 20%

Assignment 2 20%

Final Online Exam 30%

, ECON 248 – Macroeconomics | Athabasca University Complete Study Guide




Table of Contents

Unit 1 – Introduction to Economics 3
Unit 2 – The Data of Macroeconomics 5
Unit 3 – The Real Economy in the Long Run 7
Unit 4 – Money and Prices in the Long Run 9
Unit 5 – The Macroeconomics of Open Economies 11
Unit 6 – Macroeconomic Fluctuations and Policy 13




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N. Gregory Mankiw, Ronald D. Kneebone, Kenneth J McKenzie Principles of Macroeconomics, 9th Edition
Publisher: 2023 ISBN: 9781774740286 Edition: Unknown

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Macroeconomics
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