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Principles of Macroeconomics

Principles of Macroeconomics. http://web.mit.edu/14.02/www Two formats: Lecture/Rec: Ricardo Caballero, M-W 1; Re F All-section: M-W-F (synchronized) Head TA: Andrew Healy Three short tests (no exam) 6 Problem sets (marginal). Macroeconomics?. Micro-economics: individual markets

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Principles of Macroeconomics

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  1. Principles of Macroeconomics • http://web.mit.edu/14.02/www • Two formats: • Lecture/Rec: Ricardo Caballero, M-W 1; Re F • All-section: M-W-F (synchronized) • Head TA: Andrew Healy • Three short tests (no exam) • 6 Problem sets (marginal)

  2. Macroeconomics? • Micro-economics: • individual markets • effects are limited to that market • Macro-economics: • aggregate: sum of markets plus cross effects • GDP, U, Inflation • Too complex => Take shortcuts => Art • Ambitious! Too much? Not at this level

  3. Style • Basic structure (book) + current events • Level: Read and find mistakes in “technical” news • Discuss news frequently

  4. “In the News” (Bloomberg 09/05) • - S&P 500 Gains for a Fourth Week, Longest Streak Since January • U.S. 10-Year Treasury Has Biggest Weekly Drop in 6 on Job Gains • Dollar Has Biggest Weekly Gain in Five Versus Yen on Job Growth • Asian Currencies Have Weekly Gains as Investors Buy More Stocks • South Korean Business Confidence Rises; First Gain in 4 Months • Japan's Bonds Have Weekly Gain on Expectations Growth Will Slow • European Bonds Drop in Week as Economic Growth Outlook Improves • German Stocks Advance After U.S. Adds Most Jobs in 3 Months • Brazil Economy Has `Solid' Growth, IMF's de Rato Says

  5. A Tour Around the World • US • Europe • Japan • Emerging economies

  6. Figures/Tables-Chapter 1

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