Sept 30 I. Consumer Price Index A. Measurement B. Changes New GDP Estimate.

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Sept 30 I. Consumer Price Index A. Measurement B. Changes New GDP Estimate

The UNIVERSITY of VERMONT JANUS FORUM Monday October 5, 4-5:30pm Grand Maple Ballroom, Davis Center, UVM Campus $787 Billion:Stimulus orSedative A Debate Featuring Jeffrey Miron, Ph.D. Senior Lecturer and Director of Undergraduate Studies Harvard University Senior Fellow, Cato Institute and Justin Wolfers, Ph.D. Associate Professor of Business and Public Policy University of Pennsylvania Senior Fellow, Brooking Institution Debate Moderator Emerson Lynn Editor and Publisher of the St. Albans Messenger Reception Immediately Following in the Livak Fireplace Lounge 5:30–6:30p.m.

Exam 1 Friday October 2 in class Friday October 2 in class Multiple choice Multiple choice Covers Ch 1-5, readings on syllabus, class materials, and ed readings Covers Ch 1-5, readings on syllabus, class materials, and ed readings Old exam is online Old exam is online Justin does not have the exam questions or answers Justin does not have the exam questions or answers NOTE: Syllabus says Fall recess is Oct 7—it is Oct 9 NOTE: Syllabus says Fall recess is Oct 7—it is Oct 9 Aplia Assignment Sunday and Guest Lecture Monday—Prof Justin Wolfers Aplia Assignment Sunday and Guest Lecture Monday—Prof Justin Wolfers Janus Forum Debate Monday 4:00 Davis Center Janus Forum Debate Monday 4:00 Davis Center

Consumer Price Index 50,000 households 50,000 households 87 urban areas 87 urban areas 23,000 retail establishments 23,000 retail establishments 96,000 items 96,000 items

How Do People Spend? The CPI Basket

How is the CPI Calculated? See handout

US Price Level

US Inflation Rate

US Price Level