...of the World A Tour of The World A Tour of The World Chapter 1: A Tour of the World CHAPTER 1 Prepared by: Fernando Quijano and Yvonn Quijano Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall • Macroeconomics, 5/e • Olivier Blanchard 1-1 The United States Table 1-1 1996–2006 (average) 2006 2007 2008 3.1% 3.4% 3.3% 2.1% 2.5% Output growth rate Unemployment rate 6.2 5.0 4.6 4.6 4.8 Inflation rate The unemployment rate 4.0 2.0 2.9 2.6 2.2 Output growth rate: annual rate of growth of output (GDP). Unemployment rate: average over the year. Inflation rate: annual rate of change of the price level (GDP deflator). 3 of 18 Chapter 1: A Tour of the World The inflation rate The period 1996-2006 was one of the best decades in recent memory: The average rate of growth was 3.4% per year. The average unemployment rate was 5.0%. The average inflation rate was 2.0%. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall • Macroeconomics, 5/e • Olivier Blanchard 1-1 The United States 4 of 18 1-1 The United States Has the United States Entered a New Economy? Should We Worry About the U.S. Trade Deficit? Figure 1 - 2 Figure 1 - 3 Rate of Growth of Output per Hour in the United States Since 1960. The U.S.Trade Deficit Since 1990 The trade deficit increased from about 1% of output in 1990 to about 6% of output in 2006. The...
Words: 25619 - Pages: 103
...ECONOMICS AND FINANCE FACULTY OF BUSINESS AND ECONOMICS THE UNIVERSITY OF HONG KONG Pokfulam Road, Hong Kong _____________________________________________________________________________________ ECON2102/2220 Intermediate Macroeconomics 2015-2016 ECON2102CD/2220CD Instructor: C. Chen Office: 901 KKL Office hours: Monday 1:40am – 3:00pm and Tuesday 4:40pm – 6:00pm E-mail: ccfour@hku.hk Semester: 2 Class meeting: ECON2102C/2220C: Monday 9:30am – 12:20pm in LE6 ECON2102D/2220D: Tuesday 1:30pm – 4:20pm in MB201 Mid-term Exams: ECON2102C/2220C: March/14th. (Mon.) 9:40am – 12:10pm in LE6 ECON2102D/2220D: March/15th. (Tue.) 1:40pm – 4:10pm in MB201 Teaching assistant: Mr. Yuk Kwan Wong. One extra class for ECON2102C: Please choose among March/7th. (Mon.) and May/3rd-6th. Q&A class for ECON2102CD: April/26th. (Tue.) Prerequisites: ECON1001/1210 introductory microeconomics and ECON1002/1220 Introductory macroeconomics according to the Regulations, Syllabus & Structure and List of Courses for the BEcon and BEcon&Fin programmes. The course is primarily for students majoring in economics and as such can be technical at times, involving the use of mathematics including elementary calculus. Slides are available at http://www.sef.hku.hk/~ccfour/#Teaching Textbook: Macroeconomics by Andrew B. Abel, Ben S. Bernanke, and Dean Croushore, 8th edition, Pearson Addison Wesley. Assessment: Homework (problem sets plus one short essay) Test (mid-term) Examination (final) 20% (10%+10%) 20% 60% Short Essay:...
Words: 1257 - Pages: 6
... | |Approved course syllabus signed by Instructor & Program chair | |Objective and Outcome Mapping | |Lesson Plan | |Assessment Scheme and Schedule | |Model Question Paper (Semester End Examination (SEE)) | |Lectures Slides, Tutorials and other Learning Resource provided (See Annexure 1) | |Assignments / Course Projects | |Evaluated samples of Assignments / Course Projects (One sample each from Excellent, Average and Satisfactory Bands) (See | |Annexure 2: Hard Copy of Evaluated Project Reports) | |Quizzes and CAT-I & II question papers and...
Words: 7055 - Pages: 29
...ECON 515 MACROECONOMIC POLICY FALL 2012 Monday & Wednesday 8:00AM-9:30AM 9:50PM-11:20PM 1:10PM-2:40PM Rawls 3082 INSTRUCTOR: DR. GERALD J. LYNCH Office: Rawls 4039 Phone 494-4388 lynch@purdue.edu Secretary: Sherry Fisher 496-7227 Office Hours: Monday and Wednesday 3:00-4:00 and by appointment Introduction to the topic: As recent turmoil in the financial markets has demonstrated, macroeconomic fluctuations in the economy can create a difficult operating environment for the firm. This situation is further complicated by the fact that it is an environment over which the firm has little control. Even though the firm cannot control the environment, it can still react to economic conditions in ways that minimize its uncertainty as long as it understands the constraints it is facing. The purpose of this course is to help in an understanding of the macroeconomy. Macroeconomics is that branch of economics that seeks to understand and explain changes in output, general prices, employment, interest rates, foreign exchange rates, the balance of payments, and other related phenomena. Emphasis is given in this course to analyzing financial markets where interest rates are determined. We will spend more time than usual on the financial markets this year in response to the uncertainty in that environment today. Also, since the macroeconomic environment in this country is increasingly influenced by international conditions, the factors underlying trade and exchange...
Words: 2711 - Pages: 11
...given for this course to students who have receive credit in ECO 260. | Course Title: | Principles of Macroeconomics | Catalog CourseDescription | A study of how society’s needs are satisfied with the limited resources available. Topics include contemporary issues such as inflation, unemployment, economic growth, international dependencies, and how public policy deals with them. | Instructor Contact Information: | Campus Location: | Prestonsburg | Building & Room: | Pike 215D | Office Hours: | N/A | Office Phone Number: | 1-888-641-4132 | Alternate Number: | 886-3863, Ext. 64781 | Best Times to Call: | The best place to communicate with me is in the message area of the blackboard course shell. | KCTCS Email: | Daniel.bell@kctcs.edu | Special Instructions: | N/A | Supervisor Contact Information: | Name: | Kelli Hall | Campus Location: | Pikeville | Building & Room: | N 102 | Office Phone Number: | 606-218-1275 or Ext 81275 | KCTCS Email: | Kelli.Hall@kctcs.edu | Text and Supplies: Macroeconomics, McConnell & Brue, Flynn 19th Edition – Copyright 2012 by McGraw-Hill-Irwin. | | Approved Course Competencies General Education: (KCTCS General Education Competency Statements and General Education Requirements) | I. Communicate Effectively | 1. Read and listen with comprehension. 2. Speak and write clearly using Standard English. 3. Interact...
Words: 2128 - Pages: 9
...Economics 2102 Intermediate Macroeconomics George Washington University Fall 2014 Professor Henry S. Terrell, Ph.D. Course Description Economics 2102 is a course in Intermediate Macroeconomics. The course will analyze the economy in a “general equilibrium” framework, where the performance of the economy in terms of output, employment and unemployment, inflation, and international trade and capital flows is determined by the simultaneous interaction of the goods, labor, money, and international markets. The course will highlight the differences between the economy in the short and long run, the important role that expectations about the future play in macroeconomic analysis, the role, limits, and transmission mechanisms of fiscal and monetary policy in efforts at economic stabilization, and the Solow model of the determinants of long-term economic growth and the role of capital formation in economic growth. The course will also explicitly consider the current challenges to the economy. Textbook and Other Materials The textbook is MacroEconomics, by Andrew B. Abel, Ben S. Bernanke, and Dean Croushore, 8th edition. The MyEconLab system that comes with that textbook is required. Grades will be based on: 1. Three problem sets turned in on MyEconLab that will count for a total of 25 percent. The problem sets when turned in are graded immediately and you will have three chances to correct any mistakes and resubmit your answers. The first problem set will...
Words: 692 - Pages: 3
...Chapter 12 - Macroeconomic and Industry Analysis CHAPTER TWELVE MACROECONOMIC AND INDUSTRY ANALYSIS CHAPTER OVERVIEW This is the one of three chapters that covers fundamental security valuation. This chapter introduces a topdown approach to fundamental security analysis. It covers the first two components: macroeconomic and industry analysis. The textbook begins with a global analysis, particularly with respect to how the performance of domestic firms is influenced by international economic performance. The chapter’s main focus however is on aspects of the U. S. economy that affect security returns, including fiscal and monetary policy. In addition, a brief presentation of the determinants of interest rates is covered. The chapter concludes with a discussion of industry analysis that includes classifications of industries, information sources, the industrial life cycle and a Porter framework that can be used to analyze industry competition. LEARNING OBJECTIVES Upon reading this chapter, you should have a basic understanding of some of the macroeconomic factors that affect security prices. That is, how fiscal and monetary policy affect interest rates and security prices. And some industry groups are more affected by macroeconomic factors than others and the characteristics of an industry that affect its competitiveness. CHAPTER OUTLINE The top-down approach to fundamental analysis begins with analyzing the economy. Expected economic performance will influence...
Words: 4152 - Pages: 17
...Unit 1 - Individual Project - Introduction to Macroeconomic Theory Click Link Below To Buy: http://hwcampus.com/shop/unit-1-individual-project-introduction-macroeconomic-theory/ Assignment Details Assignment Description Weekly tasks or assignments (Individual or Group Projects) will be due by Monday and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time. In economics, they say a picture is worth a thousand words. Below, you will find two scenarios. Your assignment is to discuss the situation by writing the solutions, and then show the solutions and how you got here in one or more graphs or flowcharts. Scenario One Supply and demand are foundational concepts in understanding economic theory. Whether you are a coffee drinker or not, you have been tasked to examine the impact of supply and demand when dealing with the coffee retail industry. A few companies probably come to mind. Pick a major coffee retailer, and then contemplate what has been happening to both the supply and demand for this product. Next, analyze the following scenario that deals with what happened in the coffee industry at the beginning of the last decade: In the early part of the last decade, there was an overproduction of coffee. The price dropped so low that producers' costs were higher than the market price. The reason this happened was that market prices...
Words: 4383 - Pages: 18
...Unit 1 - Individual Project - Introduction to Macroeconomic Theory Click Link Below To Buy: http://hwcampus.com/shop/unit-1-individual-project-introduction-macroeconomic-theory/ Assignment Details Assignment Description Weekly tasks or assignments (Individual or Group Projects) will be due by Monday and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time. In economics, they say a picture is worth a thousand words. Below, you will find two scenarios. Your assignment is to discuss the situation by writing the solutions, and then show the solutions and how you got here in one or more graphs or flowcharts. Scenario One Supply and demand are foundational concepts in understanding economic theory. Whether you are a coffee drinker or not, you have been tasked to examine the impact of supply and demand when dealing with the coffee retail industry. A few companies probably come to mind. Pick a major coffee retailer, and then contemplate what has been happening to both the supply and demand for this product. Next, analyze the following scenario that deals with what happened in the coffee industry at the beginning of the last decade: In the early part of the last decade, there was an overproduction of coffee. The price dropped so low that producers' costs were higher than the market price. The reason this happened was that market prices...
Words: 4383 - Pages: 18
...International Macroeconomics1 Stephanie Schmitt-Groh´2 e April 26, 2013 Mart´ Uribe3 ın 1 The seeds for this manuscript were lecture notes taken by Alberto Ramos in a course on International Finance that Mike Woodford taught at the University of Chicago in the Winter of 1994. 2 Columbia University. E-mail: stephanie.schmittgrohe@columbia.edu. 3 Columbia University. E-mail: martin.uribe@columbia.edu. ii Contents 1 Global Imbalances 1.1 Balance-of-Payments Accounting . . . . . . . . . . . . . . . . 1.2 The Current Account . . . . . . . . . . . . . . . . . . . . . . 1 1 5 1.3 The Current Account and the Net International Investment Position . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 1.4 Valuation Changes and the Net International Investment Position . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 1.5 The Negative-NIIP-Positive-NII Paradox: Dark Matter? 1.5.1 1.5.2 . . 20 Dark Matter . . . . . . . . . . . . . . . . . . . . . . . 22 Return Differentials . . . . . . . . . . . . . . . . . . . 23 1.6 Who Lends and Who Borrows Around the World? . . . . . . 26 1.7 Exercises . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 35 2 Current Account Sustainability 2.1 Can a Country Run a Perpetual Trade Balance Deficit? . . . 35 2.2 Can a Country Run a Perpetual Current Account Deficit? . 39 2.3 Savings, Investment, and the Current Account . . . . . . . . 41 iii iv 2.3.1 CONTENTS Current Account Deficits...
Words: 77395 - Pages: 310
...Introduction to Economics Course outline Instructor/ teaching assistants details Details | Instructors name | Ayesha Samie | Email address | ayesha_samie@yahoo.com | Counseling hours | | Teaching assistants name | Uroosa Jeelani | Email address | uroosaj@gmail.com | Tutorial timings and days | Thursday 12:45-13:45 | About the course. This course will teach students the basic tools of microeconomics and macroeconomics issues such as price determination, supply and demand, consumer behavior, costs of production and market structures growth, inflation, unemployment, interest rates, exchange rates, technological progress, budget and trade deficits. The course will provide a unified framework to address these issues and to study the impact of different policies, such as monetary and fiscal policies, on the aggregate behavior of individuals. Evaluation of Student Performance: | Weightage in grade | Hourlies | 30% (15% of each hourly) | Final exam | 30% | Assignments/presentations/quizzes | 25% | Class Participation | 15% | Total | 100 | Description of each component: * The term exams (hourlies) and final exam will be conducted as per the rules set by IBA. There will be no makeup exams, unless instructed. All IBA rules of examination apply to undertaking the exam * Assignments will be split in class assignments and home assignments. Class assignments must be handed over to the instructor at the end of the class (unless otherwise)...
Words: 2405 - Pages: 10
...201: PRINCIPLES OF MACROECONOMICS Fall Term 2015 2:00-3:15 PM Mondays and Wednesdays Room 1090 CASL CRN # 11014 Section 004 Carol Hogan Office Hours: 10:00-10:45 AM 2190 Social Sciences Building Mondays and Wednesdays, 1:00- 313-436-9181 1:45 PM Mondays and Wednesdays, clhogan@umich.edu 5:00-5:45 PM Mondays, and by appointment |ECON 201 - Prin: Macroeconomics | |Together with ECON 202, this course serves to introduce the student to the basic ideas and concepts of modern economic analysis, and applies| |them to current economic problems, policies and issues. The focus of this course is on macroeconomics: income and wealth, employment, and | |prices at the national level in the United States economy. It is recommended that students take ECON 201 before ECON 202. MATH 105 is highly| |recommended but not required. (F,W,S). | |ECON 201 - Prin: Macroeconomics | |Together with ECON 202, this course serves to introduce the student to the basic ideas and concepts of modern economic analysis, and applies| |them to current economic problems, policies and issues. The focus of this course is on macroeconomics: income and wealth...
Words: 1944 - Pages: 8
...HAMPTON UNIVERSITY SCHOOL OF BUSINESS Course Syllabus - FALL 2011 ECON 201-ALL SECTIONS PRINCIPLES OF ECONOMICS (MACRO) SEC | CRN | DAYS | TIME | CLASSROOM | INSTRUCTOR | 201-HR | 21507 | TR | 12:30-1:45PM | ST-321 | Sarki, A | 201-02 | 21509 | MWF | 9:00-9:50AM | BU-122 | Ferdnance, T | 201-03 | 21512 | TR | 11:00-12:15PM | BU-101 | Toney, S | 201-05 | 21513 | TR | 9:30-10:45AM | ST-336 | Sarki, A | 201-07 | 21514 | TR | 2:00-3:15PM | BU-101 | Toney, S | 201-09 | 21516 | MWF | 1:00-1:50PM | BU-122 | Ferdnance, T | PROFESSORS OFFICES OFFICE HOURS PHONE Dr. Ayuba J. Sarki Science & Tech (301C) TBA (757) 727-5868 Dr. Tyrone Ferdnance Buckman (107B) TBA (757) 727-5134 Dr. Susanne Toney Buckman (214C) TBA (757) 727-5760 REQUIRED TEXTS: Case, Karl E., Fair, Ray C., & Oster, Sharon M; Principles of ECONOMICS 10th Edition, Pearson/Prentice-Hall, 2012 ISBN-10: 0132552914; ISBN-13: 9780132552912 0132744856 OR Case, Karl E., Fair, Ray C., & Oster, Sharon M; Principles of Macroeconomics 10th Edition, Pearson/Prentice-Hall, 2012 ISBN-10: 0131391402; ISBN-13: 978-0131391406 AND MyEconLab (Required) (Note that all the required materials can be purchased from Hampton University Virtual Bookstore). CATALOG DESCRIPTION: A first course on modern market economies. Emphasizes the determination of national income, fluctuations, and...
Words: 4002 - Pages: 17
...Shantou University Course Syllabus |Course Name |Course Code |Credit |Class Hours | |Macroeconomics |BUS1035 |2 |32 | 1. Course Objectives To provide a basic understanding of economic reasoning, economic theory and economic policy, particularly for the study of the economy as a whole. Throughout the course, students will be introduced to: ● Define Gross National Product, Gross Domestic Product, Net National Product, National Income, Personal Income, and Disposable Income ● Explain the purpose of a price index, use a price index to calculate the rate of inflation, and distinguish between Demand-Pull inflation and Cost-Push Inflation ● Define unemployment in China, calculate unemployment and employment rates, and differentiate between frictional, cyclical, structural and seasonal unemployment ● Describe the phases of the business cycle and economic growth ● Explain the role of money and monetary policy ● Explain fiscal policy 2. Course Description/ Intended Learning Outcomes (Course ILOs) An introduction to the basic principles of economics with emphasis on the macroeconomic aspects of the entire economy. It deals with national income, national output, national employment, inflation, cyclical business fluctuations, economic growth, the role of money, theories...
Words: 770 - Pages: 4
...Chapter 4 Measuring GDP and Economic Growth 1 Gross Domestic Product 1) Gross domestic product is the total ________ produced within a country in a given time period. A) market value of all final and intermediate goods and services B) market value of all goods and services C) amount of final and intermediate goods and services D) market value of all final goods and services Answer: D Topic: GDP Skill: Recognition Question history: Previous edition, Chapter 4 AACSB: Reflective Thinking 2) Gross domestic product A) includes all the goods and none of the services produced in an economy in a given time period. B) measures the value of the aggregate production of goods and services in a country during a given time period. C) measures the value of labor payments generated in an economy in a given time period. D) is generally less than federal expenditure in any time period. Answer: B Topic: GDP Skill: Recognition Question history: Previous edition, Chapter 4 AACSB: Reflective Thinking 3) Gross domestic product is a measure of the total value of all A) sales in an economy over a period of time. B) consumer income in an economy over a period of time. C) capital accumulation in an economy over a period of time. D) final goods and services produced in an economy over a period of time. Answer: D Topic: GDP Skill: Recognition Question history: Previous edition, Chapter 4 AACSB: Reflective Thinking Copyright © 2012 Pearson Education, Inc. Chapter 4 Measuring GDP and Economic Growth 493 ...
Words: 28581 - Pages: 115
