a01.Introduction

a01.Introduction - Introduction What Macroeconomics is All...

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1 Introduction What Macroeconomics is All About ?
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2 1. What is Macroeconomics? Olivier Blanchard, Gregory Mankiw, Paul Krugman and Ben Bernanke: ± the study of the economy as a whole; and ± the study of the policies that governments use to try to affect economic performance.
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3 2. What Macroeconomists Study? What causes a nation s economic activity to fluctuate (i.e., rise and fall)? What causes unemployment? What causes prices to rise? What determines a nation s long-run economic growth? Can government policies be used to improve a nation s economic performance?
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4 Example: Microeconomics versus Macroeconomics • Should I continue to study or take a job right now? • How many people are employed in the economy as a whole this year? • How much would the bus company increases the fares? • What determines the overall level of prices in the economy as a whole?
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5 3. Why Macroeconomics Matters • Cultural Literacy ± ability to follow and participate in public
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This note was uploaded on 02/19/2011 for the course ECON 1021 taught by Professor Kokwanwai during the Fall '08 term at CUHK.

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a01.Introduction - Introduction What Macroeconomics is All...

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