ECON 1132.03
Principles of Economics-Macro
Harold Petersen
January 13, 2015
Lecture 1: Introduction.
This is a course in Principles of Economics: Macro. I am assuming you
have had Principles: Micro and will teach the course with that understanding. If
you
ECON 1132
Principles of Economics-Macro
Harold Petersen
Feb. 19, 2015
Lecture 10: Banking and the Supply of Money
We looked last time at money and demand for money. Then we began to
talk about the banking system. We noted we have two types of banks-commer
Statistics
Problem Set 3- SOLUTIONS
Igor Karagodsky
SOLUTIONS
Problem Set 3
Please feel free to work with up to two other people when completing this problem set. Please
submit your problem set at the beginning of class on the due date
Discrete Random Var
Christine Skaf
Problem Set 2
Due Monday, April 4th, 2016
EC1150 Sections 02 & 03
1. About the structure of the dataset
a. How many string variables does the dataset contain? - 5
b. How many numeric variables does the dataset contain? - 4
c. How many obser
Statistics
Problem Set 4- SOLUTIONS
Igor Karagodsky
SOLUTIONS
Problem Set 4
Ch. 5: Continuous Random Variables
1) Uniform Distribution
a. If a random variable, X, has a uniform distribution over the values 10 to 15, what
does f(x) equal? Draw the diagram.
Statistics
Problem Set 1- SOLUTIONS
Igor Karagodsky
SOLUTIONS
Problem Set 1
Question 1:
Suppose you have 90 people in your sample and you ask them how many sodas they drank
yesterday. Ten say three sodas. Fifteen say two sodas. Twenty say they had one sod
Statistics
Problem Set 5- SOLUTIONS
Igor Karagodsky
SOLUTIONS
Problem Set 5
1) Pancakes
You own a business selling pancakes at a Farmers Market on Saturday mornings. All of the
batter and appropriate toppings that you offer people must be made in advance
Describe the long-run effects of an investment policy (investment tax credit) for a
closed economy, a small open economy, and a large open economy. Provide the
effects of such policy on (1) real interest rate (2) saving (3) investment (4) net
capital outf
2
1
Y =3 K 3 L 3
Saving rate=0.3
=0.05
N=0.1
1. Find the value of
y ,c,i
2
1
1)
Y 3 K 3 L3
y= =
=3 K 2 /3 L2/ 3
L
L
2)
C=( 1s ) y=( 10.3 ) 3 K 3 L 3 =2.1 K 2 /3 L2/ 3
3)
i=sy=0.3 (3 K
2
2
3
L
2
3
2
)=0.9 K
2 /3
2/ 3
L
2. Find k, y, c,i
2 /3
K
K
1) y=3( )
Keynesian Cross
S=Y T C=(YdC) so C=YdS
a.
Yd=Y T =Y ( 60+0.25 Y )=.75 Y 60
Y =C + I +G+ NX =( YdS )+ 150+ 200+50( 20+ 0.20Yd )
( Yd+ 400.1Yd ) +400200.2Yd
0.7 Yd+ 420=0.7 ( 0.75Y 60 ) + 420=0.525 Y 42+420
0.525 Y +378
0.475 Y =378
Y =795.79
b.
Y =0.7 Y
Exam Sheet
Chapter 1
Real GDP=value of g/s using constant set of prices P(base year)X Q(year analyzing)
Nominal GDP=value of g/s measured at current prices
Recessions
Depressions
Inflation Rate
Deflation Rate
Endogenous Variables
Exogenous Variables
Marke
Hi Students,
I am sending you this message to remind you that Exam # 2 will be on Thursday, April 10,
2014 at the beginning of class.
A review session for the exam will be held on Saturday, April 5, 2014 at 11:00am. Expect to
be at the review for up to 3
Alyssa Craparotta
Mr. Borra
AP Microeconomics 11/3/14
I.
MLA CITATION
"The Upside of Lower Oil Prices." The New York Times. The New York Times, 22 Oct.
2014. Web. 02 Nov. 2014. <http:/www.nytimes.com/2014/10/22/opinion/the-upside-of-loweroil-prices.html?_
Boston Collge
Principle of Microeconomics
Discussion Notes
Discussion Leader:
Chiu Yu Ko
Instructor:
Prof. Richard Tresch
December 10, 2009
All questions are adapted directly from the textbook and problem set. Advice from Professor Tresch
are used in prep
EC131 Prof. Regan Unit 1 Terms, Concepts, & Graphs
1. Define:
a.
Economics
b.
Scarcity
c.
Equity
d.
Efficiency
e.
Productive efficiency
f.
Allocative efficiency
g.
Marginal benefit (MB)
h.
Marginal cost (MC)
i.
Demand
j.
Ceteris paribus
k.
Demand schedule
Unit 3 Terms, Concepts, & Graphs
1. Define:
a.
Excess capacity
b.
Game theory
c.
Payoff matrix
d.
Players/decision makers
e.
Strategies
f.
Payoffs
g.
Nash Equilibrium
h.
Dominant strategy
i.
Prisoners dilemma
j.
Collude/collusion
k.
Cartel
l.
Price discri
ECON 1132
Principles of Economics-Micro
Harold Petersen
April 28, 2015
Lecture 25: Asset Bubbles
I want to start today by reviewing rational expectations, then the
Minsky Hypothesis, and then apply these views to Asset Bubbles. Rational
Expectations holds
Ec. 132.03
Principles of Economics-Macro
Harold Petersen
January 20, 2015
Lecture 3: Aggregate Supply and Demand
I noted last time that the inflation number for the past year would be
announced on Friday (as measured by change in the consumer price index)
Ec. 132
Principles of Economics-Macro
Harold Petersen
April 21, 2105
Lecture 23: The Modern Financial System
I want to start today with a few words about the modern financial
system. Look again at the circular flow diagram as we have used it before.
Spend
ECON 1132
Principles of Economics-Macro
Harold Petersen
March 12, 2015
Lecture 14: Aggregate Supply and Unemployment
In the Keynesian model, if demand falls firms cut back on output and lay off
workers. We call this a recession, and we assume that much mo
ECON 1132
Principles of Economics-Macro
Harold Petersen
April 16, 2015
Lecture 22: Monetarism and Rational Expectations
Since the end of 2007 the U.S. money supply (M1) has increased at
an annual rate of over 10% per year, as the Fed did everything it cou
Ec. 132
Principles of Economics-Macro
Harold Petersen
March 19, 2015
Lecture 16: The Phillips Curve
Last time we talked about the rate of inflationmoderate,
galloping, or hyper, and about the costs of inflation. Then we talked
about kinds of inflationiner
EON 1132
Principles of Economics-Macro
Harold Petersen
February 17, 2015
Lecture 9 Money: Meaning of and Demand for Money
It is time to turn to money, interest rates, banking, and monetary policy
as pursued through a central bank, in this country The Fed.
Ec. 132
Principles of Economics-Macro
Harold Petersen
February 5, 2015
Lecture 8: The Demand Curve in Macro vs. Micro
We have a framework of aggregate demand-aggregate supply.
Q*
P
AS (costs)
Po
AD (C+I+G+X)
Q*
Q
AD moves with anything that affects spendi
I. Introduction to Macroeconomics
a. Science of Macroeconomics
The study of the economy as a whole, including growth incomes, changes in prices etc.
Macroeconomists attempt to explain economic events and to devise policies to improve
economic performance.
II. The Data of Macroeconomics
a. GDP
GDP is the market value of all finals goods and services produced within an economy in
a given period of time.
b. Measuring GDP
Computed by Bureau of Economic Analysis. Computed through primary sources that
include bo
III. The Classical Theory: The Economy in the Long Run
Production: Capital and labor stocks are fixed and, together with the production function,
determine GDP.
Distribution: GDP is paid to factors of production according to their marginal products.
Euler
I. Introduction to Macroeconomics
a. Science of Macroeconomics
The study of the economy as a whole, including growth incomes, changes in prices etc.
Macroeconomists attempt to explain economic events and to devise policies to improve
economic performance.
IV. Monetary System
Money: is the stock of assets that can readily used to make transactions.
Functions as a store of a value, unit of account and medium of exchange. Without money,
like in a barter economy, double coincidence of wants happens and can onl