Week 12 — Readings & Resources

Course: Principles of Macroeconomics (ECON 2) · Silver Oak University (fictional sample) · Prof. Ashford
Focus: Inflation, the Phillips Curve & Expectations · Objective 8

Everything below is a link to a free external resource — nothing is embedded, copied, or downloaded. Links were verified live at build time; if one ever rots, the per-term update re-checks them. (Canvas: a Page of links + ExternalUrl module items.)

📖 Read (≈30 min)

1. OpenStax, Principles of Macroeconomics 3e — Ch. 12, "Introduction to the Keynesian Perspective" (covers 12.3 The Phillips Curve)
   🔗 https://openstax.org/books/principles-macroeconomics-3e/pages/12-introduction-to-the-keynesian-perspective
   The short-run Phillips curve trade-off between inflation and unemployment.

2. Marginal Revolution University — "Quantity Theory of Money" (Principles of Economics: Macroeconomics course)
   🔗 https://mru.org/courses/principles-economics-macroeconomics/inflation-quantity-theory-of-money
   Covers MV = PQ directly, paired with "Causes of Inflation" in the same unit.

3. IMF Finance & Development, "Back to Basics" — "Monetarism: Money Is Where It's At"
   🔗 https://www.imf.org/external/pubs/ft/fandd/basics/16_monetarism.htm
   A full explainer of the quantity theory of money (MV = PQ) and the monetarist view of the long-run/short-run Phillips-curve distinction — evenhanded, and presents the Keynesian counter-view too.

▶️ Watch (≈10 min)

4. CrashCourse Economics #7 — "Inflation and Bubbles and Tulips." (Adriene Hill & Jacob Clifford)
   🔗 https://www.youtube.com/watch?v=T8-85cZRI9o
   Revisits inflation dynamics and expectations — directly applicable to this week's expectations-augmented framing.

🛠️ Tools for this week (links only)

5. Desmos Graphing Calculator — you'll build the quantity-theory table and plot the Phillips curves here in the Workshop.
   🔗 https://www.desmos.com/calculator
   Free, no account needed. Try plotting the two SRPC points and a vertical line at u = 5.

Why these earn the click: OpenStax Ch. 12.3 is the spine of today's Phillips-curve material; the MRU piece walks through MV = PQ step by step; the IMF "Monetarism" explainer lays out the long-run/short-run distinction evenhandedly, with the Keynesian side represented too; CrashCourse gives the inflation/expectations ideas in voice and motion; Desmos is your graphing tool for the Workshop.