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73 Pages

M04_Abel6114970_07_Macro_C04

Course: ECON 252, Spring 2012
School: USC
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ConsumptionandSaving Chapter4 Consumption, Saving,and Investment Copyright2011PearsonAddisonWesley.Allrightsreserved. ChapterOutline Investment GoodsMarketEquilibrium Copyright2011PearsonAddisonWesley.Allrightsreserved. 42 ConsumptionandSaving Theimportanceofconsumptionandsaving Desiredconsumption:consumptionamountdesiredby households Desirednationalsaving:levelofnationalsavingwhen...

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ConsumptionandSaving Chapter4 Consumption, Saving,and Investment Copyright2011PearsonAddisonWesley.Allrightsreserved. ChapterOutline Investment GoodsMarketEquilibrium Copyright2011PearsonAddisonWesley.Allrightsreserved. 42 ConsumptionandSaving Theimportanceofconsumptionandsaving Desiredconsumption:consumptionamountdesiredby households Desirednationalsaving:levelofnationalsavingwhen consumptionisatitsdesiredlevel: Sd=YCdG (4.1) Copyright2011PearsonAddisonWesley.Allrightsreserved. 43 ConsumptionandSaving Theconsumptionandsavingdecisionofan individual Apersoncanconsumelessthancurrentincome (savingispositive) Apersoncanconsumemorethancurrentincome (savingisnegative) Copyright2011PearsonAddisonWesley.Allrightsreserved. 44 ConsumptionandSaving Theconsumptionandsavingdecisionofan individual Tradeoffbetweencurrentconsumptionandfuture consumption Thepriceof1unitofcurrentconsumptionis1+runitsof futureconsumption,whereristherealinterestrate Consumptionsmoothingmotive:thedesiretohavea relativelyevenpatternofconsumptionovertime Copyright2011PearsonAddisonWesley.Allrightsreserved. 45 ConsumptionandSaving Effectofchangesincurrentincome Increaseincurrentincome:bothconsumptionand savingincrease(viceversafordecreaseincurrent income) Marginalpropensitytoconsume(MPC)=fractionof additionalcurrentincomeconsumedincurrentperiod; between0and1 Aggregatelevel:Whencurrentincome(Y)rises,Cd rises,butnotbyasmuchasY,soSdrises Copyright2011PearsonAddisonWesley.Allrightsreserved. 46 ConsumptionandSaving Effectofchangesinexpectedfutureincome Higherexpectedfutureincomeleadstomore consumptiontoday,sosavingfalls Copyright2011PearsonAddisonWesley.Allrightsreserved. 47 ConsumptionandSaving Application:consumersentimentandforecasts ofconsumerspending Doconsumersentimentindexeshelpeconomists forecastconsumerspending? Datadonotseemtogivemuchwarningbefore recessions(Fig.4.1) Copyright2011PearsonAddisonWesley.Allrightsreserved. 48 Figure4.1UniversityofMichiganIndexofConsumer Sentiment,January1978May2009 Source:IndexofConsumerSentiment(UniversityofMichigan)fromFREDdatabase,seriesUMCSENT. Copyright2011PearsonAddisonWesley.Allrightsreserved. 49 ConsumptionandSaving Application:consumersentimentandforecasts ofconsumerspending Dataonconsumerspendingarecorrelatedwithdata onconsumerconfidence(Fig.4.2) Copyright2011PearsonAddisonWesley.Allrightsreserved. 410 Figure4.2UniversityofMichiganIndexofConsumerSentiment andConsumptionSpendingJanuary1978May2009 Source:IndexofConsumerSentiment(UniversityofMichigan)fromresearch.stlouisfed.org/fred2/series/UMCSENT;consumption spendingfromresearch.stlouisfed.org/fred2/series/PCEC96. Copyright2011PearsonAddisonWesley.Allrightsreserved. 411 ConsumptionandSaving Application:consumersentimentandforecasts ofconsumerspending Dataonconsumerspendingarecorrelatedwithdata onconsumerconfidence(Fig.4.2) Butformalstatisticalanalysisshowsthatdataon consumerconfidencedonotimproveforecastsof consumerspendingbasedonothermacrodata Copyright2011PearsonAddisonWesley.Allrightsreserved. 412 ConsumptionandSaving Effectofchangesinwealth Increaseinwealthraisescurrentconsumption,so lowerscurrentsaving Copyright2011PearsonAddisonWesley.Allrightsreserved. 413 ConsumptionandSaving Effectofchangesinrealinterestrate Increasedrealinterestratehastwoopposingeffects Substitutioneffect:Positiveeffectonsaving,sincerateof returnishigher;greaterrewardforsavingelicitsmoresaving Incomeeffect Forasaver:Negativeeffectonsaving,sinceittakeslesssaving toobtainagivenamountinthefuture(targetsaving) Foraborrower:Positiveeffectonsaving,sincethehigherreal interestratemeansalossofwealth Empiricalstudieshavemixedresults;probablyaslight increaseinaggregatesaving Copyright2011PearsonAddisonWesley.Allrightsreserved. 414 ConsumptionandSaving Effectofchangesinrealinterestrate Taxesandtherealreturntosaving Expectedaftertaxrealinterestrate: rat=(1t)ie Copyright2011PearsonAddisonWesley.Allrightsreserved. (4.2) 415 Table4.1CalculatingAfterTaxInterestRates Copyright2011PearsonAddisonWesley.Allrightsreserved. 416 ConsumptionandSaving Intouchwithdataandresearch:interestrates Discussesdifferentinterestrates,defaultrisk,term structure(yieldcurve),andtaxstatus Sinceinterestratesoftenmovetogether,we frequentlyrefertotheinterestrate Yieldcurve:relationshipbetweenlifeofabondand theinterestrateitpays Copyright2011PearsonAddisonWesley.Allrightsreserved. 417 InTouchYieldCurve Copyright2011PearsonAddisonWesley.Allrightsreserved. 418 ConsumptionandSaving Fiscalpolicy Affectsdesiredconsumptionthroughchangesin currentandexpectedfutureincome Directlyaffectsdesirednationalsaving, Sd=YCdG Copyright2011PearsonAddisonWesley.Allrightsreserved. 419 ConsumptionandSaving Fiscalpolicy Governmentpurchases(temporaryincrease) HigherGfinancedbyhighercurrenttaxesreducesaftertax income,loweringdesiredconsumption Eventrueiffinancedbyhigherfuturetaxes,ifpeoplerealize howfutureincomesareaffected SinceCddeclineslessthanGrises,nationalsaving(Sd=Y CdG)declines Sogovernmentpurchasesreducebothdesiredconsumption anddesirednationalsaving Copyright2011PearsonAddisonWesley.Allrightsreserved. 420 ConsumptionandSaving Fiscalpolicy Taxes Lumpsumtaxcuttoday,financedbyhigherfuturetaxes Declineinfutureincomemayoffsetincreaseincurrent income;desiredconsumptioncouldriseorfall Copyright2011PearsonAddisonWesley.Allrightsreserved. 421 ConsumptionandSaving Fiscalpolicy Taxes Ricardianequivalenceproposition Iffutureincomelossexactlyoffsetscurrentincomegain,no changeinconsumption Taxchangeaffectsonlythetimingoftaxes,nottheirultimate amount(presentvalue) Inpractice,peoplemaynotseethatfuturetaxeswillriseiftaxes arecuttoday;thenataxcutleadstoincreaseddesired consumptionandreduceddesirednationalsaving Copyright2011PearsonAddisonWesley.Allrightsreserved. 422 ConsumptionandSaving Application:Howconsumersrespondtotaxrebates Thegovernmentprovidedataxrebatein2008,hopingto stimulatetheeconomy ResearchbyShapiroandSlemrodsuggeststhatconsumersdid notincreasespendingmuchin2001,whenthegovernment providedasimilartaxrebate NewresearchbyAgarwal,Liu,andSoulelesfindsthateven thoughconsumersoriginallysavedmuchofthetaxrebate,later theyincreasedspendingandincreasedtheircreditcarddebt Copyright2011PearsonAddisonWesley.Allrightsreserved. 423 ConsumptionandSaving Application:Howconsumersrespondtotax rebates Thenewresearchcomesfromcreditcardpayments, purchases,anddebtovertime Peoplegettingthetaxrebatesinitiallymadeadditional paymentsontheircreditcards,payingdowntheir balances;butafterninemonthstheyhadincreased theirpurchasesandhadmorecreditcarddebtthan beforethetaxrebate Copyright2011PearsonAddisonWesley.Allrightsreserved. 424 ConsumptionandSaving Application:Howconsumersrespondtotax rebates Youngerpeople,whoweremorelikelytofacebinding borrowingconstraints,increasedtheirpurchaseson creditcardsthemostofanygroupinresponsetothe taxrebate Peoplewithhighcreditlimitsalsotendedtopayoff moreoftheirbalancesandspentless,astheywere lesslikelytofacebindingborrowingconstraintsand behavedmoreinthemannersuggestedbyRicardian equivalence Copyright2011PearsonAddisonWesley.Allrightsreserved. 425 Summary5 Copyright2011PearsonAddisonWesley.Allrightsreserved. 426 Investment Whyisinvestmentimportant? Investmentfluctuatessharplyoverthebusinesscycle, soweneedtounderstandinvestmenttounderstand thebusinesscycle Investmentplaysacrucialroleineconomicgrowth Copyright2011PearsonAddisonWesley.Allrightsreserved. 427 Investment Thedesiredcapitalstock Desiredcapitalstockistheamountofcapitalthat allowsfirmstoearnthelargestexpectedprofit Desiredcapitalstockdependsoncostsandbenefitsof additionalcapital Sinceinvestmentbecomescapitalstockwithalag,the benefitofinvestmentisthefuturemarginalproductof capital(MPKf) Copyright2011PearsonAddisonWesley.Allrightsreserved. 428 Investment Thedesiredcapitalstock Theusercostofcapital ExampleofKylesBakery:costofcapital,depreciationrate, andexpectedrealinterestrate Usercostofcapital=realcostofusingaunitofcapitalfora specifiedperiodoftime=realinterestcost+depreciation uc=rpK+dpK=(r+d)pK Copyright2011PearsonAddisonWesley.Allrightsreserved. (4.3) 429 Investment Thedesiredcapitalstock Determiningthedesiredcapitalstock(Fig.4.3) Copyright2011PearsonAddisonWesley.Allrightsreserved. 430 Figure4.3Determinationofthedesiredcapital stock Copyright2011PearsonAddisonWesley.Allrightsreserved. 431 Investment Thedesiredcapitalstock Desiredcapitalstockisthelevelofcapitalstockat whichMPKf=uc MPKffallsasKrisesduetodiminishingmarginal productivity ucdoesntvarywithK,soisahorizontalline Copyright2011PearsonAddisonWesley.Allrightsreserved. 432 Investment Thedesiredcapitalstock IfMPKf>uc,profitsriseasKisadded(marginal benefits>marginalcosts) IfMPKf< uc,profitsriseasKisreduced(marginal benefits<marginalcosts) ProfitsaremaximizedwhereMPKf=uc Copyright2011PearsonAddisonWesley.Allrightsreserved. 433 Investment Changesinthedesiredcapitalstock FactorsthatshifttheMPKfcurveorchangetheuser costofcapitalcausethedesiredcapitalstockto change Thesefactorsarechangesintherealinterestrate, depreciationrate,priceofcapital,ortechnological changesthataffecttheMPKf(Fig.4.4showseffectof changeinuc;Fig.4.5showseffectofchangeinMPKf) Copyright2011PearsonAddisonWesley.Allrightsreserved. 434 Figure4.4Adeclineintherealinterestrate raisesthedesiredcapitalstock Copyright2011PearsonAddisonWesley.Allrightsreserved. 435 Figure4.5Anincreaseintheexpectedfuture MPKraisesthedesiredcapitalstock Copyright2011PearsonAddisonWesley.Allrightsreserved. 436 Investment Changesinthedesiredcapitalstock Taxesandthedesiredcapitalstock Withtaxes,thereturntocapitalisonly(1)MPKf Changesinthedesiredcapitalstock Afirmchoosesitsdesiredcapitalstocksothatthereturn equalstheusercost,so (1)MPKf=uc,whichmeans: MPKf=uc/(1)=(r+d)pK/(1) Copyright2011PearsonAddisonWesley.Allrightsreserved. (4.4) 437 Investment Taxesandthedesiredcapitalstock Taxadjustedusercostofcapitalisuc/(1) Anincreaseinraisesthetaxadjustedusercostand reducesthedesiredcapitalstock Copyright2011PearsonAddisonWesley.Allrightsreserved. 438 Investment Changesinthedesiredcapitalstock Taxesandthedesiredcapitalstock Inreality,therearecomplicationstothetaxadjusteduser cost Weassumedthatfirmrevenuesweretaxed Inreality,profits,notrevenues,aretaxed Sodepreciationallowancesreducethetaxpaidbyfirms, becausetheyreduceprofits Investmenttaxcreditsreducetaxeswhenfirmsmakenew investments Copyright2011PearsonAddisonWesley.Allrightsreserved. 439 Investment Changesinthedesiredcapitalstock Taxesandthedesiredcapitalstock Inreality,therearecomplicationstothetaxadjusteduser cost Summarymeasure:theeffectivetaxratethetaxrateonfirm revenuethatwouldhavethesameeffectonthedesiredcapital stockasdotheactualprovisionsofthetaxcode Table4.2showseffectivetaxratesformanydifferentcountries Copyright2011PearsonAddisonWesley.Allrightsreserved. 440 Table4.2EffectiveTaxRateonCapital, 2007 Copyright2011PearsonAddisonWesley.Allrightsreserved. 441 Investment Application:measuringtheeffectsoftaxeson investment Dochangesinthetaxratehaveasignificanteffecton investment? A1994studybyCummins,Hubbard,andHassett foundthataftermajortaxreforms,investment respondedstrongly;elasticityabout0.66(of investmenttousercostofcapital) Copyright2011PearsonAddisonWesley.Allrightsreserved. 442 Investment Fromthedesiredcapitalstocktoinvestment Thecapitalstockchangesfromtwoopposing channels Newcapitalincreasesthecapitalstock;thisisgross investment Thecapitalstockdepreciates,whichreducesthecapitalstock Copyright2011PearsonAddisonWesley.Allrightsreserved. 443 Investment Fromthedesiredcapitalstocktoinvestment Netinvestment=grossinvestment(I)minus depreciation: Kt+1Kt=ItdKt (4.5) wherenetinvestmentequalsthechangeinthecapital stock Fig.4.6showsgrossandnetinvestmentforthe UnitedStates Copyright2011PearsonAddisonWesley.Allrightsreserved. 444 Figure4.6Grossandnetinvestment,19292008 Sources:GDP,grossprivatedomesticinvestment,andnetprivatedomesticinvestmentfromBEAWebsite,Tables 1.1.5,5.1,and5.2.5. Copyright2011PearsonAddisonWesley.Allrightsreserved. 445 Investment Fromthedesiredcapitalstocktoinvestment Rewriting(4.5)givesIt=Kt+1Kt+dKt Iffirmscanchangetheircapitalstocksinoneperiod, thenthedesiredcapitalstock(K*)=Kt+1 SoIt=K*Kt+dKt Copyright2011PearsonAddisonWesley.Allrightsreserved. (4.6) 446 Investment Fromthedesiredcapitalstocktoinvestment Thusinvestmenthastwoparts Desirednetincreaseinthecapitalstockovertheyear( K* Kt) Investmentneededtoreplacedepreciatedcapital(dKt) Copyright2011PearsonAddisonWesley.Allrightsreserved. 447 Investment Fromthedesiredcapitalstocktoinvestment Lagsandinvestment Somecapitalcanbeconstructedeasily,butothercapitalmay takeyearstoputinplace Soinvestmentneededtoreachthedesiredcapitalstockmay bespreadoutoverseveralyears Copyright2011PearsonAddisonWesley.Allrightsreserved. 448 Investment Intouchwithdataandresearch:investmentand thestockmarket Firmschangeinvestmentinthesamedirectionasthe stockmarket:Tobinsqtheoryofinvestment Ifmarketvalue>replacementcost,thenfirmshould investmore Tobinsq=capitalsmarketvaluedividedbyits replacementcost Ifq<1,dontinvest Ifq>1,investmore Copyright2011PearsonAddisonWesley.Allrightsreserved. 449 Investment Intouchwithdataandresearch:investmentand thestockmarket Stockpricetimesnumberofsharesequalsfirms marketvalue,whichequalsvalueoffirmscapital Formula:q=V/(pKK),whereVisstockmarketvalueoffirm,K isfirmscapital,pKispriceofnewcapital SopKKisthereplacementcostoffirmscapitalstock StockmarketboomraisesV,causingqtorise,increasing investment Copyright2011PearsonAddisonWesley.Allrightsreserved. 450 Investment Intouchwithdataandresearch:investmentand thestockmarket Datashowgeneraltendencyofinvestmenttorise whenstockmarketrises;butrelationshipisntstrong becausemanyotherthingschangeatthesametime (Figure4.7) Thistheoryissimilartotextdiscussion HigherMPKfincreasesfutureearningsoffirm,soVrises AfallingrealinterestratealsoraisesVaspeoplebuystocks insteadofbonds Adecreaseinthecostofcapital,pK,raisesq Copyright2011PearsonAddisonWesley.Allrightsreserved. 451 Figure4.7InvestmentandTobinsq,19872009 Source:InvestmentfromSt.LouisFedWebsiteatresearch.stlouisfed.org/fred2/series/PNFIC1;TobinsfromFederal ReserveFlowofFundsAccounts,TableB.102,fornonfarmnonfinancialcorporatebusiness,marketvalueplusliabilitiesdividedbyassets. Copyright2011PearsonAddisonWesley.Allrightsreserved. 452 Investment Investmentininventoriesandhousing Marginalproductofcapitalandusercostalsoapply, aswithequipmentandstructures Copyright2011PearsonAddisonWesley.Allrightsreserved. 453 Summary6 Copyright2011PearsonAddisonWesley.Allrightsreserved. 454 GoodsMarketEquilibrium Therealinterestrateadjuststobringthegoods marketintoequilibrium Y=Cd+Id+G (4.7) goodsmarketequilibriumcondition Differsfromincomeexpenditureidentity,asgoods marketequilibriumconditionneednothold;undesired goodsmaybeproduced,sogoodsmarketwontbein equilibrium Copyright2011PearsonAddisonWesley.Allrightsreserved. 455 GoodsMarketEquilibrium Alternativerepresentation:since Sd=YCdG, Sd=Id Copyright2011PearsonAddisonWesley.Allrightsreserved. (4.8) 456 GoodsMarketEquilibrium Thesavinginvestmentdiagram PlotSdvs.Id(KeyDiagram3;textFig.4.8) Copyright2011PearsonAddisonWesley.Allrightsreserved. 457 Figure4.8Goodsmarketequilibrium Copyright2011PearsonAddisonWesley.Allrightsreserved. 458 GoodsMarketEquilibrium Thesavinginvestmentdiagram EquilibriumwhereSd=Id Howtoreachequilibrium?Adjustmentofr Seetextexample(Table4.3) Copyright2011PearsonAddisonWesley.Allrightsreserved. 459 Table4.3ComponentsofAggregateDemandfor Goods(AnExample) Copyright2011PearsonAddisonWesley.Allrightsreserved. 460 GoodsMarketEquilibrium Shiftsofthesavingcurve Savingcurveshiftsrightduetoariseincurrent output,afallinexpectedfutureoutput,afallinwealth, afallingovernmentpurchases,ariseintaxes(unless Ricardianequivalenceholds,inwhichcasetax changeshavenoeffect) Example:Temporaryincreaseingovernment purchasesshiftsSleft Resultoflowersavings:higherr,causingcrowdingout ofI(Fig.4.8) Copyright2011PearsonAddisonWesley.Allrightsreserved. 461 Figure4.9Adeclineindesiredsaving Copyright2011PearsonAddisonWesley.Allrightsreserved. 462 GoodsMarketEquilibrium Shiftsoftheinvestmentcurve Investmentcurveshiftsrightduetoafallinthe effectivetaxrateorariseinexpectedfuturemarginal productivityofcapital Resultofincreasedinvestment:higherr,higherSand I(Fig.4.9) Copyright2011PearsonAddisonWesley.Allrightsreserved. 463 Figure4.10Anincreaseindesiredinvestment Copyright2011PearsonAddisonWesley.Allrightsreserved. 464 GoodsMarketEquilibrium Application:Macroeconomicconsequencesof theboomandbustinstockprices Sharpchangesinstockpricesaffectconsumption spending(awealtheffect)andcapitalinvestment(via Tobinsq) DatainFig.4.11 Copyright2011PearsonAddisonWesley.Allrightsreserved. 465 Figure4.11RealU.S.stockpricesandthe ratioofconsumptiontoGDP,19872009 Source:S&P500fromYahoofinanceWebsite,finance.yahoo.com;realS&P500calculatedasS&P500dividedbyGDPdeflator;GDPdeflator, consumptionspending,andGDPfromSt.LouisFedWebsiteatresearch.stlouisfed.org/fred2. Copyright2011PearsonAddisonWesley.Allrightsreserved. 466 GoodsMarketEquilibrium Theboomandbustinstockprices Consumptionandthe1987crash Whenthestockmarketcrashedin1987,wealthdeclinedby about$1trillion Consumptionfellsomewhatlessthanmightbeexpected,and itwasntenoughtocausearecession Therewasatemporarydeclineinconfidenceaboutthe future,butitwasquicklyreversed Thesmallresponsemayhavebeenbecausetherehadbeen alargerunupinstockpricesbetweenDecember1986and August1987,sothecrashmostlyerasedthisrunup Copyright2011PearsonAddisonWesley.Allrightsreserved. 467 GoodsMarketEquilibrium Theboomandbustinstockprices Consumptionandtheriseinstockmarketwealthin the1990s Stockpricesmorethantripledinrealterms Butconsumptionwasnotstronglyaffectedbytherunupin stockprices Copyright2011PearsonAddisonWesley.Allrightsreserved. 468 GoodsMarketEquilibrium Theboomandbustinstockprices Consumptionandthedeclineinstockpricesinthe early2000s Intheearly2000s,wealthinstocksdeclinedbyabout$5 trillion ButconsumptionspendingincreasedasashareofGDPin thatperiod Copyright2011PearsonAddisonWesley.Allrightsreserved. 469 GoodsMarketEquilibrium Theboomandbustinstockprices Investmentandthedeclinesinthestockmarketinthe 2000s InvestmentandTobinsqwerecorrelatedin2000and2008, whenthestockmarketfellsharply Investmenttendedtolagthedeclineinthestockmarket, reflectinglagsintheprocessofmakinginvestmentdecisions Copyright2011PearsonAddisonWesley.Allrightsreserved. 470 GoodsMarketEquilibrium Theboomandbustinstockprices Thefinancialcrisisof2008 Stockpricesplungedinfall2008andearly2009,andhome pricesfellsharplyaswell,leadingtoalargedeclinein householdnetwealth Despitethedeclineinwealth,theratioofconsumptionto GDPdidnotdeclinemuch Copyright2011PearsonAddisonWesley.Allrightsreserved. 471 GoodsMarketEquilibrium Theboomandbustinstockprices InvestmentandTobinsq InvestmentandTobinsqwerenotcloselycorrelated followingthe1987crashinstockprices Buttherelationshiphasbeentighterinthe1990sandearly 2000s,astheorysuggests(Fig.4.11) Copyright2011PearsonAddisonWesley.Allrightsreserved. 472 KeyDiagram3Thesavinginvestment diagram Copyright2011PearsonAddisonWesley.Allrightsreserved. 473
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Berkeley - NUSCTX - 10
CarbohydratesCHAPTER 4Nastaran Faghihnia, PhDCarbohydrates Macronutrient4 Kcal/g Carbon, oxygen, hydrogenCarbon-hydrate: C + H2OCHO Glucose: C6 H12 O6PhotosynthesisCHO functions Provides energy Spares protein Provides sweetness Provides fib
Berkeley - NUSCTX - 10
Digestion, Absorption,Transport &amp; MetabolismCHAPTER 3.4-3.7Nastaran Faghihnia, PhDOverview of the Digestive System*#*#** = GI Tract# = Accessory organsWeve digested, now we need toabsorb, transport &amp; metabolizeNutrient Absorption from the Sm
Berkeley - NUSCTX - 10
DigestionCHAPTER 3.1-3.3Nastaran Faghihnia, PhDOverview of Digestion, Absorption, Transport &amp; MetabolismDigestion, Absorption, Transport &amp; Metabolism Gastrointestinal (GI) tract gateway forconverting foods to nutrients Metabolism converts nutrients
Berkeley - NUSCTX - 10
NST 10INTRODUCTION TO HUMAN NUTRITIONMonday &amp; Wednesday, 2:10 3:00 pm, Wheeler AuditoriumCHAPTER 1.1-1.3Nastaran Faghihnia, PhDProfessors Nastaran Faghihnia, Ph.D. (nastaran@berkeley.edu) Office Hours: M 3-4pm, FSM caf Ronald Krauss, M.D. (rmkraus
Berkeley - EPS - 8
EPS 8 December 1, 2010Campus EnergyCal Campus Energy History Energy &amp; Climate Water lower Sproul renovations (solar panels) Built Environment Waste, Purchasing, Transportation, Food and Dining, Land Useo Green books replaced by blue books Where do
Berkeley - EPS - 8
November 19, 2010EPS 8 Group Presentation Bay Area ConservationWaste Management and Conservation Trash collects in creeks and streams Marine wildlife killed when they consume or become trapped in the trash On average, three pieces of trash can be fou
Berkeley - EPS - 8
November 17, 2010EPS 8 Group Presentation: Bottled WaterHistory of Bottled Water 1700s people visited spas to bathe or drink natural spring watero Spa in Boston was the first to bottle watero Poland Spring = first bottled water brand made in 19th cen
Berkeley - EPS - 8
November 15, 2010EPS 8 Group Presentation HydropowerHistory Waterwheels: 4th century BC by the Greeks First Water Turbines ~ 3rd century (Romans) Industrial Revolution: water wheel Hydroelectric Power Plant: 1882 Bureau of Reclamation first federal
Berkeley - EPS - 8
November 12, 2010: Ocean EnergyNon-Renewable Ocean Energy Natural gas and petroleumPetroleum is a mixture of hydrocarbons and organic matter from fossilized ocean matter(zooplankton and algae) Historyo Grand Lake St. Marys OH around 1891o Over 620
Berkeley - EPS - 8
November 10, 2010EPS 8 Group Presentation: Wind EnergyFossil Fuel Problems Fossil fuels are formed by the decomposition and melding or buried organismso Formed from plants and animalso Release stored chemical energyo Coal, oil, gas about 85% of USs
Berkeley - EPS - 8
November 8, 2010EPS 8 Group Presentation the role of ConservationDeforestation permanent destruction of indigenous forests and woodlands Causes major loss of biodiversity because of the tree specieso Forests still cover 20% of area Issues:o Burning
Berkeley - EPS - 8
Solar Power History of Solar Powero 7th century BC Magnifying lgass used to concentrate the energy of the suns rays in orderot produce fireo 1st 13th century AD Architecture Houses built with south facing windows 1767 Horace de Saussures hot box
Berkeley - EPS - 8
November 1, 2010EPS Group Presentation 1 EthanolThis group started out by describing the sources of ethanol, which included corn and sugar crane.90% of the ethanol is made from corn in the US because it is very cheap.Sources of Ethanol Organic: Agric
Punjab Engineering College - RISK - 3
University of Texas - PHY - 303K
Top view of a 35 cm highcylindermaterial colordensity (g/cm3)blue3.5red12.3orange6.95 cm8 cm13 cmConsider the above cylinder madeup of three materials. What is thetotal density?1Jonathan Ganc - Final Exam ReviewMichael stands motionless
University of Texas - E E - 333t
Assignment 11: Ethics ModuleDue May 3As an engineer, you will encounter ethical quandaries. The stakes may not seem terribly high inthe abstract, but your decisions will have clear consequences one way or the other. In fact, youwill face tougher decis
University of Texas - E E - 333t
Assignment 3: Problem Statement MemoDue February 7Your next assignment is a 1-page memo that outlines a design problem that is worthconsidering for a senior design project. This problem statement memo will lay thefoundation for your team project, in w
University of Texas - E E - 333t
Assignment 6: Revised Literature ReviewDue March 22Your next assignment is to revise Assignment 5, which asked you to provide a 2- to 3-pageliterature review. As part of that revision, you will supplement your original work with additionalresearch and
University of Texas - E E - 333t
Assignment 9: ProposalDue April 12Your team has identified a design problem, researched the problem field, and developed apotential solution. You will now use that material as the foundation for a project proposal. Inaddition to explaining the backgro
University of Texas - E E - 333t
Assignment 1: Introductory PresentationDue January 26For your first assignment, you will prepare a brief (1- to 2-minute) presentation in whichyou will introduce yourself to the class by describing your research interests,extracurricular activities th
University of Texas - E E - 333t
Assignment 10: Team PresentationDue April 24 and 26You now have a complete proposal for a design project. For the next assignment, you willtranslate that proposal into a formal team presentation (14-16 minutes for five-person teams, or12-15 minutes fo
University of Texas - MATH - 427L
University of Texas - MATH - 427L
University of Texas - MATH - 427L
University of Texas - MATH - 427L