assign11 - Intro Macro N Sheflin ASSIGNMENT 11 NOTES...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
n t r o M a c r o N . S h e f l i n ASSIGNMENT 11 NOTES: Unemployment and Wages, and Review of the LR Classical Model and Sticky/Flexible wages (and prices). Investment Game – Round 3 – Mutual Funds – do by next Thursday HOW ARE YOU DOING (and what to do about it)? If you are doing poorly and feel you need more help, go to one of the Learning Resource Centers for tutoring ( for hours and locations – see bottom of assignment). The student tutors are generally very good and can be most helpful. BRING QUESTIONS THAT ARE GIVING YOU TROUBLE – from homework and/or from big questions from the assignments. HAVE THE TUTOR SIGN THE QUESTION SHEET and show it to me for EXTRA CREDIT points. EARLY WARNING FINAL EXAM coming - do not make travel plans for date of final Much more information will be coming over the next weeks, including: a review guide, a set of essential questions, help with study group formation, q&a classes, and what to do about conflicts. EXAM DATE is on the syllabus and will be posted, emailed, announced, pantomimed, shouted, and beamed to you with telepathy –DO NOT MISS THE EXAM! EXAM WILL BE HELD ON THE OFFICIALLY SCHEDULED DATE. NOTES - KEY POINTS Unemployment Defining and Measuring unemployment and the unemployment rate o Structural, frictional and cyclical unemployment o Discouraged workers and hidden unemployment o Unemployment composition and duration o International comparisons and explanations Harm of unemployment o Economic o Social o Political The Natural Rate of unemployment – NAIRU o The ‘full-employment’ unemployment rate at which there is structural and frictional but not cyclical unemployment o The long-term unemployment rate at which inflation does not increase (i.e., there is no acceleration in prices – hence the non-accelerating inflation, rate of unemployment Unemployment Policies o Cyclical – stabilization (monetary/fiscal) policies o Structural – training, education, etc o Frictional – job search services etc. Okun’s Law
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 09/30/2011 for the course ECONOMICS 103 taught by Professor Sheflin during the Spring '08 term at Rutgers.

Page1 / 5

assign11 - Intro Macro N Sheflin ASSIGNMENT 11 NOTES...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online