1. Principles of Macroeconomics Instructor Bernard Malamud Professor of Economics –Email: malamud@ccmail.nevada.edumalamud@ccmail.nevada.edu –Website: www.unlv.edu/faculty/bmalamudwww.unlv.edu/faculty/bmalamud –Office: BEH 502 –Phone: 895 - 3294

2. 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

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

4. Macro Pictures: Jobs

5. Macro Pictures: Unemployment

6. Macro Pictures: Growth

7. Macro Pictures: Prices

8. Macro Pictures: Budget Deficit

9. Macro Pictures: Payments Deficit

10. Macro Pictures: Exchange Rate

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

12. Supply Demand Price of Ice-Cream Cone Quantity of Ice-Cream Cones Micro Foundations: A Brief Review Supply and Demand 2134567891012110 $3.00 2.50 2.00 1.50 1.00 0.50 Equilibrium