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Principles of Macroeconomics ECON 401

This course provides a comprehensive understanding of macroeconomics for business students. Topics include GDP, unemployment, inflation, and the role of monetary and fiscal policies.

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Principles of Macroeconomics ECON 401

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  1. Principles of MacroeconomicsECON 401 Dr. Andrew L. H. Parkes “A Macroeconomic Understanding for use in Business” 卜安吉

  2. Syllabus and Our Course • The syllabus provides an outline of what we will cover during the term: Chapters 23 through 26, as well as Chapters 28-36 of the textbook. • This week we will talk about Chapters 23 and 24. The required textbook Principles of Macroeconomics, Day 1

  3. Lectures and Practice Problems • Lectures: 2 to 4 hours per week I will introduce the new material to you. • Practice Problems: We will do assignments from my slides and from the textbook. • You will have to prepare assignments for every class; there is NO class without homework. • You will do all of your own work during the course. Copied assignments will be given 0 marks. • Notice you must have access to WSJ, FT (also investopedia.com – Forbes, etc.). Keep up to date with Economics related issues Principles of Macroeconomics, Day 1

  4. Grading • Mid-term test - 20% • Final Exam - 40% • Homework - 20% • Quizzes - 20% • Total - 100% Principles of Macroeconomics, Day 1

  5. Principles of Macroeconomics (Ch. 23) • Nothing is required to begin this course! • Definitions: We know MANY of these already! • Real GDP, CPI, GDP deflator, Unemployment rate, … Principles of Macroeconomics, Day 1

  6. SEE MY WEBSITE: andrewparkes.com • Often and regularly • Kept ahead of class • Links and PPT • Other information Like this => Total Public Debt Outstanding 11/29/2007 $ 9,139,880,193,861.94 3/13/2008 $ 9,408,066,260,869.55 Principles of Macroeconomics, Day 1

  7. Yuan trades at what rate today? • See my website for articles we discuss! • Three Goals of any MACROECONOMY • Full Employment – Unemployment Rate • Economic Growth – REAL GDP • Price Stability - CPI • KNOW what real GDP and CPI mean • Quiz next class!!! – 5 pts Principles of Macroeconomics, Day 1

  8. U. S. Real GDP 2000 - 2007 3rd Qtr. 5% growth 4th … .6%? Principles of Macroeconomics, Day 1

  9. Prices of Gross Domestic Purchases 2000 - 2007 Principles of Macroeconomics, Day 1

  10. KNOW WHO THE FED IS!?! • See my website if you need more info … • PPT from week 2 or 3 Intro • U.S. Macroeconomic Sites • People’s Bank of China • Website is available from mine • Know who they are and what they do! • These are the most important financial institutions in this class! Principles of Macroeconomics, Day 1

  11. Problem Set 1: CPI and GDP deflator • Calculation of Price Indices • Paasche • Laspeyres Principles of Macroeconomics, Day 1

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