1. Principles of Macroeconomics ECON 401
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 26, as well as Chapters of the textbook.
This week we will talk about Chapters 23 and 24.
The required textbook
Principles of Macroeconomics, Day 1

3. 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
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4. Principles of Macroeconomics, Day 1
Grading
Mid-term test - 20%
Final Exam - 40%
Homework %
Quizzes %
Total %
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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, …
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6. 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
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7. 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
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8. Principles of Macroeconomics, Day 1
U. S. Real GDP
3rd Qtr. 5% growth 4th … .6%?
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9. Prices of Gross Domestic Purchases 2000 - 2007
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10. 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!
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11. Problem Set 1: CPI and GDP deflator
Calculation of Price Indices
Paasche
Laspeyres
Principles of Macroeconomics, Day 1