Review of the Previous
Income Effect and Substitution Effect
Role of Real Interest Rate
Constraints on Borrowings
Topics under Discussion
Franco Modigliani and the life-cycle
1. Macroeconomics does not try to answer the question of:
A) why do some countries experience rapid growth.
B) what is the rate of return on education.
C) why do some countries have high rates of inflation.
D) what causes recessions and depressions.
Using Economic Data
There are three kinds of lies; Lies, Damn
Lies, and Statistics
- Mark Twain
Principle #1: What are you trying to measure? How is your statistic
defined ? Is your statistic consistent with what you are
Ratna K. Shrestha
Duopoly in Computer CPUs
In CPU market,
Intel Corporation and
AMD Inc. are two
Each of them must
take the Price and
Output of the other
while making its own
Pricing and Output
The Great Society
The Main Idea
President Johnson used his political skills to push Kennedys proposals
through Congress and expanded them with his own vision of the Great
Why was Lyndon Johnsons background good preparation for