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Unformatted text preview: Intro to Macro & GDP 15:28 What is Macro? • Micro vs. Macro Measuring Activity • GDP, CPI, UR Business Cycles • Defining a cycle via AS & AD Stabilization Policy • Fiscal & Monetary Policy (How does the government step in?) Microeconomics: the study of the choices that individuals, businesses, and the government make Macroeconomics: the study of the aggregate effects on the national economy and the global economy of the choices that individuals, businesses, and governments make Players: Households, firms, government, rest of the world Markets: Goods & Services, Factors of Production, Financial Markets Policies: Fiscal, Monetary, & Trade Policies NX is Net Exports • NX = Exports – Imports Gross Domestic Product (GDP) • The market value of all the final goods and services produced within a country in a given time period • “market value” o GDP uses market prices to value production •...
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This note was uploaded on 09/29/2009 for the course ECON 101 taught by Professor Balaban during the Spring '07 term at UNC.
- Spring '07