intro to marcoeconomics - Updated Fall 09 Lecture 1...

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Click to edit Master subtitle style Lecture 1 Introduction to Macroeconomics and GDP definition PRINCIPLES OF MACROECONOMICS Dr. Fidel Gonzalez Department of Economics and Intl. Business Sam Houston State University Updated Fall 09
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Click to edit Master subtitle style Macroeconomics Lets start by defining what is Macroeconomics. Macroeconomics is the study of the aggregate economic activity. If you have taken Microeconomics you probably remember that in Microeconomics you usually deal with individual firms, consumers and governments. In the case of Macroeconomics we talk about the all the firms or all consumers in a country o region. In Macroeconomics we do not care too much about one specific individual, firm or market. We care about all of them together.
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Click to edit Master subtitle style Macroeconomics But exactly is the subject of Macroeconomics. There are may topics that concern Macroeconomists but the main topics can be summarized in the following: 1) Production and Income: we want to know what is the production and income of a country or region because higher production is usually related to higher standard of living and more happiness. 1) Growth: we care about how can countries make their production increase and have higher economic growth. What kind of policies (if any) can the government implement to help increase production and income? 1) Unemployment: in general when there is a lot of unemployed people society suffers. Therefore, we want to study unemployment and find
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Click to edit Master subtitle style Measuring production Lets start then with the first concern of Macroeconomics 1) Production and Income: As we mentioned before we want to know what is the level of production in a country because it determines the living standard of the people in that region. But what do we mean by “production”?
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intro to marcoeconomics - Updated Fall 09 Lecture 1...

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