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					    Macroeconomics
                    Day 1


     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 35 of
    the textbook.

   This week we will talk
    about Chapters 23 & 24.                               The required textbook




September 6, 2011   Principles of Macroeconomics, Day 1                       2
    Lectures and Practice Problems
   Lectures: 2 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 (sometimes just reading).
   You will do all of your own work during                      Keep up to date with
    the course. Copied assignments will be                       Economics related issues
    given 0 marks.
   Notice you must have access to WSJ, FT
    (also investopedia.com – Forbes, etc.).


September 6, 2011          Principles of Macroeconomics, Day 1                              3
                            Grading

 First Exam         -    20%
 Final Exam         -    60%
 Homework           -    10%
 Quizzes            -    10%
   Total            - 100%


 September 6, 2011       Principles of Macroeconomics, Day 1   4
         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, …


September 6, 2011   Principles of Macroeconomics, Day 1   5
         Principles of Macroeconomics
                     (Ch. 23)




      A “snapshot” from The Economist online magazine:             http://www.economist.com/node/16909167

       (China’s private vehicles are growing faster than the amount of
       express highways is growing. The growth rates are expressed
       in the graph above as the slopes of the lines.)

September 6, 2011             Principles of Macroeconomics, Day 1                                            6
MY WEBSITE: andrewparkes.com

       Or blog –
        sometimes I
        comment on
        economics and
        finance.
                                 Total Public Debt Outstanding
       Like this =>         11/29/2007            $ 9,139,880,193,861.94

                               3/19/2009           $ 11,039,686,130,898.10
                               9/06/2010           $ 13,442,057,367,029.28
September 6, 2011   Principles of Macroeconomics, Day 1                      7
Yuan trades at what rate today?
   See BB (Blackboard.com) 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
      – On the first test!!! – 5 pts

September 6, 2011       Principles of Macroeconomics, Day 1   8
      U. S. Real GDP 2005 - 2009




        http://www.bea.gov/newsreleases/national/gdp/gdp_glance.htm
September 6, 2011          Principles of Macroeconomics, Day 1        9
        Personal Income & Spending




            http://www.bea.gov/newsreleases/national/pi/pi_glance.htm

September 6, 2011            Principles of Macroeconomics, Day 1        10
           Trade Balance in the U.S.




                    http://www.bea.gov/newsreleases/international/transactions/trans_glance.htm

September 6, 2011                       Principles of Macroeconomics, Day 1                       11
 Consumer Price Index 1999 - 2009




September 6, 2011   Principles of Macroeconomics, Day 1   12
        KNOW WHO THE FED IS!?!

          See my website if you need more info …
             – PPT from week 2 or 3 Principles of Macro
             – 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!


September 6, 2011         Principles of Macroeconomics, Day 1   13
Geographic Distribution of Unemployment,
                July 2009




September 6, 2011   Principles of Macroeconomics, Day 1   14
    Problem Set 1: Inflation Basics
 CPI and
  GDP
  deflator
 Some
  basic ideas
  and
  concepts



September 6, 2011   Principles of Macroeconomics, Day 1   15

				
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