Gross Domestic Product (GDP)
The market value of all final goods and services produced domestically in that year. Equal to the sum of consumer expenditures, investment expenditures, government expenditures, and net exports. (Y=C+I+G+NX) Can also be measured by the total income of the economy.
This class was tough.
Professor Chud is a good guy, but this class is very intensive. Not that there is a lot of busy work, but the four homeworks you do get will take four hours or more, and his tests are very difficult.
You learn a lot about the operation of the FOMC, productions functions, wages, and more economical topics.
Hours per week:
Advice for students:
Go to class, and start studying for the exam as soon as you can.