21 sample documents related to ECON 209

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  CH1

  Charleston ECON 209
  

  1 INTRODUCTION FOCUSOFTHECHAPTER Webegin our study ofmacroeconomics with an introduction tothe three models around which itisorganized and the time horizons towhich they apply. Wealsotake apreliminary lookateconomic growth, inflation, unemployment, and
   
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  CH2

  Charleston ECON 209
  

  2 NATIONALINCOMEACCOUNTING FOCUSOFTHECHAPTER Under the heading national income accounting, we consider the different ways inwhich the national economic piecan besliced into itscomponent parts. Thisismore than justsimple accounting. Whilewe dissect GDP
   
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  CH3

  Charleston ECON 209
  

  3 G ROWTHANDACCUMULATION FOCUSOFTHECHAPTER Inthischapter we study how potential output the output that would beproduced ifall factors were fullyemployed grows over time. Tobetter accomplish this,we learn growth accounting and the fundamentals ofneoclas
   
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  CH4

  Charleston ECON 209
  

  4 GROWTHANDPOLICY FOCUSOFTHECHAPTER Inthe lastchapter, we learned that the rate ofgrowth ofpotential output isdetermined bythe rate ofpopulation growth, bychanges inthe levelofnatural resources,and byimprovements intechnology. Inthischapter, we recogni
   
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  CH5

  Charleston ECON 209
  

  5 AGGREGATESUPPLYANDDEMAND FOCUSOFTHECHAPTER Inthischapter we begin tostudy how output varies over the short and long run, when potential output isfixed. Wedevelop the aggregate supply / dem and model, inthe short and long run, toshow how the supply a
   
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  CH6

  Charleston ECON 209
  

  6 AGGREGATESUPPLY:WAGES,PRICES, AND U NEMPLOYMENT FOCUSOFTHECHAPTER Inthischapter we take acloser lookatthe aggregate supply curve,and noticethat we can use ittoexamine the link between inflation and unemployment. Weconsider the effectof inflationary e
   
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  CH7

  Charleston ECON 209
  

  7 THEANATOMYOF INFLATION AND U NEMPLOYMENT FOCUSOFTHECHAPTER Inthischapter we examine the costsofboth inflation and unemployment, and consider some ofthe policy questions that are raised bythe tradeoffbetween them. Wealsolookvery carefully atthe anato
   
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  CH8

  Charleston ECON 209
  

  8 POLICYPREVIEW FOCUSOFTHECHAPTER Thischapter provides asimple overview ofpolicymaking atthe central banks based on Taylor Rule. SECTION SUMMARIES 1. MediaLevelView ofPracticalPolicy Tounderstand the fivebasicelements ofpolicymaking, we need tofind out
   
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  CH9

  Charleston ECON 209
  

  9 INCOMEANDSPENDING FOCUSOFTHECHAPTER Thischapter takes acloser lookatthe way that changes inthe goods market affectaggregate demand byexamining the link between income and spending i.e.,we use the fundamental national income identity (Y =C+I+G+NX )toa
   
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  CH10

  Charleston ECON 209
  

  10 MONEY,INTEREST,ANDINCOME FOCUSOFTHECHAPTER Thischapter introduces the ISLMmodel the heart ofshortrun macroeconomic theory. Thesimple model ofChapter 9isextended toinclude the interaction ofgoods and money markets, which, together, uniquely determine
   
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  CH11

  Charleston ECON 209
  

  11 MONETARYANDFISCALPOLICY FOCUSOFTHECHAPTER Thischapter uses the ISLMmodel tolook atthe ways that fiscaland monetary policycanbe used tostabilize the economy. Wefind that the effectiveness ofmonetary and fiscalpolicy depend on the slopes ofthe ISand L
   
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  CH12

  Charleston ECON 209
  

  12 INTERNATIONALLINKAGES FOCUSOFTHECHAPTER Thischapter provides an introduction tointernational macroeconomics. TheISLMmodel isadapted tothisnew, open economy setting. Theeffectsoffiscaland monetary policyareshown todepend strongly onwhether exchange r
   
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  CH13

  Charleston ECON 209
  

  13 CONSUMPTIONANDSAVING FOCUSOFTHECHAPTER Consumption isthe largest component ofaggregate demand. Theamount that we consume today depends not only on our current income, but alsoonour wealth and our expectations offuture income. Because people try to
   
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  CH14

  Charleston ECON 209
  

  14 INVESTMENTSPENDING FOCUSOFTHECHAPTER Investment isthe most volatilesector ofaggregate demand; changes ininvestment account for much ofthe change inGDP. Thethree types ofinvestment are businessfixedinvestment ,residentialinvestment ,and inventory in
   
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  CH15

  Charleston ECON 209
  

  15 THEDEMANDFORMONEY FOCUSOFTHECHAPTER Weallhold money either incurrency, inour pockets,orasdeposits inabank. Instudying the demand formoney, we try todiscover why people hold money, and what determines the amount ofmoney they hold. Our main goalisto
   
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  CH16

  Charleston ECON 209
  

  16 THEFED,MONEY,ANDCREDIT FOCUSOFTHECHAPTER Thischapter develops the concept offractional reserve banking, and explores the process by which the Federal Reserve controls the money supply. SECTION SUMMARIES 1. Money StockDetermination theMoney Multiplier
   
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  CH17

  Charleston ECON 209
  

  17 POLICY FOCUSOFTHECHAPTER Thischapter highlights three factors that hinder policymakers: lags,expectations, and uncertainty. Italsoconsiders the choiceoftargets and implementation strategies forparticular policygoals. SECTION SUMMARIES 1. LagsintheEf
   
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  CH18

  Charleston ECON 209
  

  18 FINANCIALMARKETSANDASSET PRICES FOCUSOFTHECHAPTER Financial markets are the vehiclethrough which macroeconomic affectthe livesofeveryday people;fluctuations inthe stockmarket directly affectpeoplesincome and wealth; changes in interest rates affecto
   
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  CH19

  Charleston ECON 209
  

  19 BIGEVENTS:THEECONOMICSOF D EPRESSION ,H YPERINFLATION ,AND D EFICITS FOCUSOFTHECHAPTER Inthischapter we revisit the time period which gave birth tomodern macroeconomics:the Great Depression. Weexamine the rolethat both monetary and fiscalpoliciespla
   
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  CH20

  Charleston ECON 209
  

  20 INTERNATIONALADJUSTMENT AND INTERDEPENDENCE FOCUSOFTHECHAPTER Thischapter extends the open economy analysis ofChapter 12byallowing the domestic price leveltochange. Methods and strategies offoreign exchange intervention are explored in greater depth
   
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  CH21

  Charleston ECON 209
  

  21 ADVANCEDTOPICS FOCUSOFTHECHAPTER Thischapter presents an overview offour recent ideas and models that have revolutionized modern macroeconomics rational expectations modeling, the random walk theory ofGDP, realbusiness cycletheory, and New Keynesian