QUESTION 1. COMPARATIVE ADVANTAGE: Shoes come in pairs: A
left (foot) shoe has to find a right (foot) shoe. A representative worker in the
North can produce EITHER 30 right shoes OR 10 left shoes (or any convex
combination of these figures). There are 10
What are your views about the ECBs handling of the Greek
The Greek public debt has generated lots of concern, as fears from investors appeared
from 2009 to doubt at the capability that Greek could meet the obligations. In 2010,
Module 5 (Textbook reading is recommended)
-The quantity theory of money: Do we have a constant (predictable) velocity of money?
Does the QTM work in the short run? And in the long run?
-Central Bank independence
-Objectives of Fed vs. Objectives of ECB
HOMEWORK (at most three printed pages, due
on Tuesday January 31st)
France and eight other euro-zone countries suffered ratings downgrades
on their sovereign debt Friday, sparking renewed global worries over
Europe's ability t
Module 8: Economic Growth
Department of Economics
is the Value
Created by Every
The Definition of Value
V (qi ) = pi qi
Module 5: Supplement to the
Role of Monetary Policy
Department of Economics
1. Which one of the following functions of money is more
(a) It favors specialization
(b) It reduces the costs of exchange
ECO 695: SAMPLE MIDTERM EXAM (NOT REAL EXAM)
PROFESSOR MANUEL SANTOS
February 2, 2012
1. Please, explain which countries are borrowers and lenders in the global economy
COUNTRIES WITH CURRENT ACCOUNT SURPLUSES GENERATE EXTRA
CASH TO LEND. THOSE I
1. Suppose that you are given the equation pi= h g, where pi= inflation, h = growth of
money supply, and g = growth of nominal GDP. Is this a version of the QTM?
NO. g should be real GDP.
2. Why do Central Banks issue too much money?
In the short run liqu
In this report, we choose China as our target country. In terms of growth, we select the following
parts: module 1 which include effects of the tax sys
European debt crisis
Explain the instruments, monetary aggregates, and economic targets of
the European Central Bank (ECB) to conduct monetary policy.
Growth & Crisis
Effects of the tax system on the business environment
The rule of law and reinforcement of property rights
Global Economics: Eco 695-57(1011)
Michael Connolly, Ph.D.
Meeting times: Tuesday/Thursday: 3:30 - 5:50pm, Stubblefield 402
Class dates: January 17 - February 23, 2017
Reading days: TBA
Final exam: TBA
Course goals and learning objectives: We