notes_macro_mid_rev

notes_macro_mid_rev - MACROECONOMICS Macro Notes G.Karras...

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Macro Notes © G.Karras 2011 MACROECONOMICS Georgios Karras* University of Illinois at Chicago * Professor of Economics; Mailing Address: Department of Economics, University of Illinois at Chicago, 601 S. Morgan St., Chicago, IL 60607-7121; e-mail: gkarras@uic.edu . Lecture Draft Do not cite without permission
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Macro Notes © G.Karras 2011, p.2 MIDTERM REVIEW UNIT #1 (Chapters 1 & 2): Measurement National Income Identity: T S C Y p National Expenditure Identity: NX G I C Y National Saving: G p p S S G T S S ) (
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Macro Notes © G.Karras 2011, p.3 Real vs Nominal Variables Variables measured in monetary units: P Real Nominal P GDP P C C
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Macro Notes © G.Karras 2011, p.4 In Practice: “Current Prices” Nominal “Constant Prices” Real Variables measured in percent: Real Nominal     growth real growth nominal r i
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Macro Notes © G.Karras 2011, p.5 UNIT #2 (Chapter 3): Production Function & Labor Market Production Function
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This note was uploaded on 10/07/2011 for the course ECON 221 taught by Professor Georgioskarras during the Fall '10 term at Ill. Chicago.

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notes_macro_mid_rev - MACROECONOMICS Macro Notes G.Karras...

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