Chapter 1 (1) - A PowerPoint Tutorial To Accompany...

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1 Chapter One A PowerPoint Tutorial To Accompany macroeconomics , 5th. ed. N. Gregory Mankiw Mannig J. Simidian ®
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2 Chapter One I would like to express my deepest gratitude to Greg Mankiw, and reviewers Nancy Jianakoplos (Colorado State University), and David Spencer (Brigham Young University) for their invaluable comments. I also thank Mike McElroy (Duke University/North Carolina State University) for his support and mentorship over the years. Finally, I thank my Dad for his continued willingness to discuss the pedagogy of macroeconomics at all times! Mannig J. Simidian Harvard University June 2002 Acknowledgements
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3 Chapter One A PowerPoint Tutorial to Accompany macroeconomics, 5th ed. N. Gregory Mankiw Mannig J. Simidian ® CHAPTER ONE The Science of Macroeconomics
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4 Chapter One Everyone is concerned about macroeconomics lately. We wonder why some countries are growing faster than others and why inflation fluctuates. Why? Because the state of the macroeconomy affects everyone in many ways. It plays a significant role in the political sphere while also affecting public policy and societal well-being. Recently, there is much discussion of recessions -- periods in which real GDP falls mildly-- and depressions , when GDP falls more severely. Macroeconomists are also concerned with issues such
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This note was uploaded on 10/15/2010 for the course ECON Econ 104B taught by Professor Cannotremeberban? during the Summer '10 term at UC Riverside.

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Chapter 1 (1) - A PowerPoint Tutorial To Accompany...

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