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Welcome to Principles of Macroeconomics Summer 2014

Welcome to Principles of Macroeconomics Summer 2014. Name that Economist. This guy is formerly very important. Now she’s very important. 4. We’ll talk about this guy…. and a little about this guy. This guy’s pretty cool. Economics Gets People to Places – Some Past Economics Majors.

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Welcome to Principles of Macroeconomics Summer 2014

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  1. Welcome to Principles of MacroeconomicsSummer 2014

  2. Name that Economist

  3. This guy is formerly very important.

  4. Now she’s very important.... 4

  5. We’ll talk about this guy…

  6. and a little about this guy.

  7. This guy’s pretty cool.

  8. Economics Gets People to Places – Some Past Economics Majors Business leaders: Warren Buffett - CEO, Berkshire Hathaway Donald Trump – Real estate/TV mogul Sam Walton – Founder, Wal-Mart Meg Whitman – CEO, Ebay Steve Ballmer – CEO, Microsoft Heads of state: George H. W. Bush – US president Gerald Ford – US president Ronald Reagan – US president Stephen Harper – Prime minister, Canada Manmohan Singh – Prime minister, India Public officials: Sandra Day O’Connor – Supreme Court justice Arnold Schwarzenegger – Governor/Philanderer Barbara Boxer – US Senator Ben Bernanke – Chairman, the US Federal Reserve Kofi Annan – UN secretary General Entertainers, athletes, and others: Cate Blanchett – Actress Mick Jagger – Singer Young MC – Singer Lionel Richie - Singer Bernie Kosar – NFL quarterback Tiger Woods – Golfer/Philanderer Muhammad Yunus – Nobel Peace Prize winner

  9. My girls

  10. Why should you finish your degree?

  11. What about the impact of the Great Recession?

  12. Your major also matters. • If you want a really high paying job you should major in…. • …engineering. • If you want a high paying job in business or social sciences you should major in… • If you want a really high paying job you should major in…. • …engineering. • If you want a high paying job in business or social sciences you should major in…. • If you want a really high paying job you should major in…. • …engineering. • If you want a high paying job in business or social sciences you should major in…. • http://chronicle.com/article/Median-Earnings-by-Major-and/127604/

  13. For you specifically What about YSU? http://collegerealitycheck.com/en/colleges/compare/ 13

  14. Put another way - ROI? • Study by Barrow and Rouse: • “Lifetime incomes of college grads in today's dollars average nearly $300,000 more than high school graduates over a 40-year career. And that's the net benefit, after deducting an average cost of more than $100,000 in tuition, room and board and potential income lost while attending college.”

  15. Why you should come to class, economically speaking. This is class costs an in-state student $1,045 (including fees). There are 17 scheduled classes, so each class session costs an average of $61.47. For a YSU graduate, the estimated gross returns are between $4.00 - $5.60 for every $1.00 spent on education! If you graduate, each class would be worth an average of $245.88 - $344.24 in additional gross lifetime income ($184.41 – $282.77 net)! 15

  16. Scarlett Marie Wants You… • …to do well in this class!

  17. Attendance is not required?Attendance and Grade Distribution

  18. Your First (of many) Graphs

  19. The key to Success in this class: • Practice

  20. Read – and use - the book More of this Less of this

  21. - Review the material outside of class. - Put effort into assignments and prepare for quizzes. - Do the study guide practice problems that are posted on the class website. - E-mail me questions or come see me in my office. - Use the tutors at the Center for Student Progress (Kilcawley Center below the bookstore). Schedule an appointment by calling: 330-941-7253

  22. Write down this website www.people.ysu.edu/~ajsumell 22

  23. Microeconomics 23

  24. Macroeconomics 24

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