Principles of Macroeconomics ECON 401 Dr. Andrew L. H. Parkes “A Macroeconomic Understanding for use in Business” 卜安吉

Syllabus and Our Course The syllabus provides an outline of what we will cover during the term: Chapters 23 through 26, as well as Chapters 28-36 of the textbook. This week we will talk about Chapters 23 and 24. The required textbook Principles of Macroeconomics, Day 1

Lectures and Practice Problems Lectures: 2 to 4 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. 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

Principles of Macroeconomics, Day 1 Grading Mid-term test - 20% Final Exam - 40% Homework - 20% Quizzes - 20% Total - 100% Principles of Macroeconomics, Day 1

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

SEE MY WEBSITE: andrewparkes.com Often and regularly Kept ahead of class Links and PPT Other information Like this => Total Public Debt Outstanding 11/29/2007 $ 9,139,880,193,861.94 3/13/2008 $ 9,408,066,260,869.55 Principles of Macroeconomics, Day 1

Yuan trades at what rate today? See my website 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 Quiz next class!!! – 5 pts Principles of Macroeconomics, Day 1

Principles of Macroeconomics, Day 1 U. S. Real GDP 2000 - 2007 3rd Qtr. 5% growth 4th … .6%? Principles of Macroeconomics, Day 1

Prices of Gross Domestic Purchases 2000 - 2007 Principles of Macroeconomics, Day 1

Principles of Macroeconomics, Day 1 KNOW WHO THE FED IS!?! See my website if you need more info … PPT from week 2 or 3 Intro 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

Problem Set 1: CPI and GDP deflator Calculation of Price Indices Paasche Laspeyres Principles of Macroeconomics, Day 1