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Principles of Macroeconomics - A Comprehensive Course Outline

Learn Macroeconomic fundamentals for business application, covering Chapters 23-35 of textbook. Lectures, assignments, exams, and resources detailed. Grading breakdown included. Access to economic publications crucial.

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Principles of Macroeconomics - A Comprehensive Course Outline

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  1. MacroeconomicsDay 1 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 35 of the textbook. • This week we will talk about Chapters 23 & 24. The required textbook Principles of Macroeconomics, Day 1

  3. Lectures and Practice Problems • Lectures: 2 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 (sometimes just reading). • 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 • First Exam - 20% • Final Exam - 60% • Homework - 10% • Quizzes - 10% • 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. Principles of Macroeconomics (Ch. 23) • A “snapshot” from The Economist online magazine:http://www.economist.com/node/16909167(China’s private vehicles are growing faster than the amount of express highways is growing. The growth rates are expressed in the graph above as the slopes of the lines.) Principles of Macroeconomics, Day 1

  7. MY WEBSITE: andrewparkes.com • Or blog – sometimes I comment on economics and finance. • Like this => Total Public Debt Outstanding 11/29/2007 $ 9,139,880,193,861.94 3/19/2009 $ 11,039,686,130,898.10 9/06/2010 $ 13,442,057,367,029.28 Principles of Macroeconomics, Day 1

  8. Yuan trades at what rate today? • See BB (Blackboard.com) 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 • On the first test!!! – 5 pts Principles of Macroeconomics, Day 1

  9. U. S. Real GDP 2005 - 2009 http://www.bea.gov/newsreleases/national/gdp/gdp_glance.htm Principles of Macroeconomics, Day 1

  10. Personal Income & Spending http://www.bea.gov/newsreleases/national/pi/pi_glance.htm Principles of Macroeconomics, Day 1

  11. Trade Balance in the U.S. http://www.bea.gov/newsreleases/international/transactions/trans_glance.htm Principles of Macroeconomics, Day 1

  12. Consumer Price Index 1999 - 2009 Principles of Macroeconomics, Day 1

  13. KNOW WHO THE FED IS!?! • See my website if you need more info … • PPT from week 2 or 3 Principles of Macro • 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

  14. Geographic Distribution of Unemployment,July 2009 Principles of Macroeconomics, Day 1

  15. Problem Set 1: Inflation Basics • CPI and GDP deflator • Some basic ideas and concepts Principles of Macroeconomics, Day 1

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