Lecture1 - Macroeconomic Analysis Econ 100B Introductory...

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Macroeconomic Analysis Econ 100B
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Introductory Stuff ! This class is on macroeconomics – the economy as a whole ! The focus will be on understanding economic concepts via models ! Examples of economics concepts include ! consumption ! investment ! gross domestic product (GDP) ! more 6/23/08 2 © 2008 Arnav Sheth. All rights reserved.
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Introductory Stuff ! By the end of this class you should (I hope): 1. Learn to think about macro issues like an economist 2. Get a clear understanding of the current economic climate via the relevant media 3. See how it may (or may not) affect you 4. Be able to make informed decisions about that ! The focus will be on problem-solving using the models we study ! There will be plenty of recent, real-world applications 6/23/08 3 © 2008 Arnav Sheth. All rights reserved.
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Exams ! There will be four (4) exams ! Each will be 30% ! ! I will drop the lowest exam ! ! The remaining 10% will come from (10-15) Assignments ! Due at least once a week ! 120% 90% NO MAKE UPS! 6/23/08 4 © 2008 Arnav Sheth. All rights reserved.
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Exams ! Four exams will be on: 1. 7/3 2. 7/17 3. 7/31 4. 8/14 ! SAVE those dates! 6/23/08 5 © 2008 Arnav Sheth. All rights reserved.
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Your Highly Qualified GSIs ! Gabriel Chodorow-Reich ! gabecr@econ.berkeley.edu ! Office Hours: ! Office Location: ! Natasha Avendano Garcia ! navendan@berkeley.edu ! Office Hours: ! Office Location: 6/23/08 6 © 2008 Arnav Sheth. All rights reserved.
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Office Hours ! My office hours will be on ! Thursdays, 2 – 3:30pm ! By appointment (email me) ! Office is 697 Evans 6/23/08 7 © 2008 Arnav Sheth. All rights reserved.
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What is Economics? Chapters 1 and 3
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Macroeconomics ! Why should you care? ! Self-Interest ! effects of the macroeconomy on our daily lives ! understanding of changing opportunities as the economy fluctuates ! Civic Responsibility ! more informed voting ! more responsible macroeconomic policy 6/23/08 9 © 2008 Arnav Sheth. All rights reserved.
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Economics ! Economists’ ways of thinking are strange – peculiar to their intellectual discipline ! Economics is abstract ! economic courses focus more on analytic tools and chains of reasoning and less on institutional descriptions 6/23/08 10 © 2008 Arnav Sheth. All rights reserved.
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Economics ! Common to have no consensus on issues in economics ! Economists rarely agree on anything ! Comfort with two or more (sometimes opposing) viewpoints ! This is a good thing ! Why? ! Because ultimately through debate the most reasonable explanation is accepted 6/23/08 11 © 2008 Arnav Sheth. All rights reserved.
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Economics ! Economics is a social science ! focuses on human beings and how they behave ! Is there any one right way for humans to behave? ! Is there a way of predicting 100% what someone is going to do (before they do it)? ! Micro economists can run experiments ! Macroeconomists deal with the economy as a whole ! Can we run an experiment on an entire country? 6/23/08 12 © 2008 Arnav Sheth. All rights reserved.
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Macroeconomics !
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Lecture1 - Macroeconomic Analysis Econ 100B Introductory...

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