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Macro Objectives

Learn about macroeconomics with a focus on concepts such as GDP, inflation, debt, supply and demand. Explore economic facts, descriptions of global economies, and economic models. Understand the importance of jobs, growth, price stability, government budgets, balance of payments, and exchange rates. Analyze economic policies and compare laissez-faire with activism. Discover micro foundations in production possibilities, supply and demand, and equilibrium.

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Macro Objectives

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  1. Macro Objectives • Talk’n’ Economics • Vocabulary: GDP, Inflation, Debt, Supply, Demand…and much, much more • Economic Facts • Descriptions of the US and world economies • Economic Models • Simplifying a complex reality • Economic Policy Analysis • Laissez – faire vs. activism The Economic Way of Thinking

  2. Macro Concerns • Jobs • Growth • Price Stability • Government Budget • Balance of Payments • Exchange Value of Dollar

  3. Macro Pictures: Jobs

  4. Macro Pictures: Unemployment

  5. Macro Pictures: Prices

  6. Macro Pictures: Budget Deficit

  7. Macro Pictures: Payments Deficit

  8. Macro Pictures: Exchange Rate

  9. Micro Foundations: A Brief Review Production Possibilities Frontier Quantity of Computers Produced D C A Production Possibilities B Feasible but Inefficient Frontier Efficient Points Quantityof Cars Produced 0

  10. Supply Equilibrium Demand Micro Foundations: A Brief ReviewSupply and Demand Price of Ice-Cream Cone $3.00 2.50 2.00 1.50 1.00 0.50 Quantity of Ice-Cream Cones 0 1 2 3 4 5 6 7 8 9 10 11 12

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