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presented by Eric Chiang

Creating PowerPoint Lectures w/ Animation. presented by Eric Chiang. By Educators. For Students. Benefits of Animation : 1) Allows one to break down explanations, graphs, and models into steps 2) Replicates the viewing of the chalkboard in class

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presented by Eric Chiang

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  1. Creating PowerPoint Lectures w/ Animation presented by Eric Chiang By Educators. For Students.

  2. Benefits of Animation: 1) Allows one to break down explanations, graphs, and models into steps 2) Replicates the viewing of the chalkboard in class 3) Allows students to review challenging concepts at home 4) Each slide serves as a template for the next

  3. CoreMacro Chapters 9 – 10 Aggregate Demand and Supply / Fiscal Policy

  4. 1. Promote Economic Growth

  5. 2. Maintain Full Employment

  6. 3. Achieve Price Stability

  7. Three Well Functioning Markets Capital Market (interest rates) Product Market (prices) Labor Market (wages)

  8. Economy stays on the long-run trend in the Classical Growth Model

  9. Economy experiences business cycles in modern macro models

  10. AD/AS model shows how aggregate output is affected by the price level

  11. AD/AS Model: Macro Equilibrium LRAS Price Level (P) SRAS Short-run macro equilibrium Long-run macro equilibrium AD Output

  12. How does the AD/AS model explain the business cycle?

  13. Negative Demand Shock LRAS Price Level (P) SRAS Long-run macro equilibrium Short-run Eq. AD AD2 Output Output Gap

  14. Option 1: Letting the Market Correct Itself over Time LRAS Price Level (P) SRAS SRAS2 Short-run Eq. Long-run Eq. AD AD2 Output Output Gap

  15. Option 2: Using Expansionary Fiscal Policy to Shift AD LRAS Price Level (P) SRAS Long-run macro equilibrium Short-run Eq. AD AD2 Output Output Gap

  16. Positive Demand Shock: Leads to Demand-Pull Inflation LRAS Price Level (P) SRAS Short-run equilibrium Long-run macro equilibrium AD2 AD Output Output Gap

  17. Option 1: Letting the Market Correct Itself over Time SRAS2 LRAS Price Level (P) SRAS Short-run equilibrium AD2 AD Output

  18. Option 2: Using ContractionaryFiscal Policy to Reduce Inflation LRAS Price Level (P) SRAS Short-run equilibrium Long-run macro equilibrium AD2 AD Output Output Gap

  19. Negative Supply Shock: Leads to Cost-Push Inflation SRAS2 LRAS Price Level (P) SRAS Short-run equilibrium Long-run macro equilibrium AD Output Output Gap

  20. CoreMicro Chapters 8 – 9 Maximizing Profit in Competition and Monopoly: The 5 Step Approach

  21. In a perfectly competitive market… P MC Find MR = MC Find optimal Q Find optimal P Find ATC Find Profit ATC $10 P = MR Profit $7 0 20 Q

  22. In a monopoly or monopolistically competitive market… P MC Find MR = MC Find optimal Q Find optimal P Find ATC Find Profit ATC $13 Profit $6 D MR 0 15 Q

  23. i>clicker Enhance your grade with active participation

  24. Macro Word of the Day “Multiplier Effect” a When word-of-mouth causes products to become popular When a dollar spent generates many more dollars of spending b c When you earn interest on past interest earnings d When you pay more in finance charges than you borrowed

  25. Macro Word of the Day “Multiplier Effect” a When word-of-mouth causes products to become popular When a dollar spent generates many more dollars of spending b QUESTION 1 c When you earn interest on past interest earnings Loading Results… d When you pay more in finance charges than you borrowed

  26. Famous Economist a Ben Bernanke b Timothy Geithner c AustanGoolsbee d Alan Greenspan

  27. Famous Building or Landmark a New York Stock Exchange b Bureau of Labor Statistics c U.S. Treasury d Federal Reserve Bank

  28. How long did our most recent recession officially last? a 12 months b 18 months c 24 months d This is a trick question: the recession hasn’t ended

  29. Is a person who lost a high paying job and temporarily working at a supermarket unemployed? a Yes, s/he is unemployed b No, s/he is employed

  30. How much are you willing to pay for one slice of pizza right now? a $5.00 b $3.50 c $2.00 d $1.00 e $0.00

  31. How much are you willing to pay for one slice of pizza right now? a $5.00 b $3.50 QUESTION 5 c $2.00 Loading Results… d $1.00 e $0.00 4% 6% 39% 33% 18%

  32. Suppose you do not work and have no income. Besides basic necessities, how much do you need per month to get by? a Less than $200 b $400 c $600 d $800 e $1,000 or more

  33. Now suppose your rich aunt gives you $1,000/month to spend. How much of this new money would you spend? a Less than $200 b $400 c $600 d $800 e $1,000 (all of it)

  34. Aggregate Expenditures Model Aggregate Expenditures (AE) 45º line: Y = AE C DEBT SAVINGS Income (Y)

  35. i>clicker Enhance your grade with active participation

  36. Homer is fired from the power plant and goes back to school to earn a college degree. Homer is: a still part of the labor force b not part of the labor force Loading Results…

  37. A business cycle recovery that doesn’t reach its long-term trend can lead to: a hyperinflation b lower cyclical unemployment c its natural unemployment rate d a double dip recession

  38. If the price index is 200, how much did a $4 Big Mac (today) cost in the base year? a $0.40 b $1.00 c $2.00 d $8.00

  39. By Educators. For Students.

  40. My Contact Information: E-mail: chiang@fau.edu Phone: 561-297-2947 Web: ProfessorChiang.com Twitter: @ProfessorChiang Facebook.com/CoreEconomics By Educators. For Students.

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