assign3 - 1 Intro Macro N. Sheflin Assignment 3 NOTES: Well...

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1 Intro Macro N. Sheflin Assignment 3 NOTES : We’ll look at the basic Keynesian short-run (SR) macro Aggregate Demand and Supply model and use it to introduce some of the key concerns of Macro, and look at the macro history of the U.S. . In later weeks we will examine the underpinnings of the model. DO NOT define macro as study of economy as a whole , rather as the study of output/income determination for the economy, the overall level of prices and inflation, economic growth, and the role of monetary and fiscal policy Lots of material here – don’t [panic, get the basics, ask questions. We’ll be using this all semester. INVESTMENT GAME BEGINS – GET INVESTMENT ROUND 0 handout from RESOURCES INVESTMENT GAME ADVISEMENT 1 HOW TO DO THE ASSIGNMENT AND LEARN MACRO Learning economics (or math or biology) is not a matter of just reading the chapters like a novel. Here are some suggestions about effective ways to learn the material. Read this assignment to get an idea of what it’s about and what you are to be learning Look at the end of chapter summary and questions to find out what you are to be learning. Skim the textbook chapter to get an overview. Do not underline or highlight or take notes. Put a check next to sections that are confusing Now carefully read the chapter, concentrating on sections that confuse you Skim the chapter again, concentrating on the whole story. Read the additional material and do any assigned applications. See if you can answer the end of chapter questions and others you make up. Look up material in the text as needed. Post questions on the chat room/discussion board for that weeks hw, or ask in class, about material that you are still confused about. Do the multiple choice on line homework. When the answers are available, see what you got wrong and if you don’t understand, post the question on the chat room/discussion board for that week. READING Samuelson Chapter 4 Also, get depressed at: http://www.todaysteacher.com/TheGreatDepressionWebQuest/BriefOverview.htm Meet John Maynard Keynes at: http://www.bized.co.uk/virtual/economy/library/economists/keynes.htm http://www.spartacus.schoolnet.co.uk/TUkeynes.htm KEY POINTS Macroeconomics – studies the determinants of fluctuations in output, employment, unemployment, prices (inflation) and the role of fiscal (government spending and taxing) and monetary (Fed control of Money Supply and interest and credit conditions) policies. Also studies determinants of economic growth, inflation, and impact of and on international matters. Short-run Macro Model
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assign3 - 1 Intro Macro N. Sheflin Assignment 3 NOTES: Well...

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