FinalcommentsF07

FinalcommentsF07 - Department of Economics Comments on the...

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Department of Economics Comments on the Economics 101 Final–Fall 2007 Professor Elizabeth C. Bogan 1. You are expected to know the assigned chapters from the texts, the main points from the Economist readings since the midterm, and the readings in your packet since the midterm. Most of the material from the packet readings relates to the precept questions on those readings. Most of the lecture material is since the midterm. To help focus your studying, let me mention some of the material that is not on the final. There is nothing on national income accounting, calculation of price indices or calculation of labor or total factor productivity. 2. You should be able to draw and explain the following or similar diagrams and use them in explaining macroeconomic events: Recessionary and Inflationary Gaps in AD, AS diagrams Money supply and demand AD-AS and Phillips curve diagrams including 1974-75 and 1981-82 U.S. monetary and fiscal policy Gains from comparative advantage—consumption possibility vs. production possibility
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FinalcommentsF07 - Department of Economics Comments on the...

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