Intermediate macroeconomics page 1 of 12 lecture notes chapter 7. I besides the lectures, there will be 6 tutorials i september 15, september 29, october, november 10, november 17, december 1. Lecture notes in intermediate macroeconomics gregor. Economists use abstract quantitative tools to develop concepts about how markets and systems work. Lecture notes principles of macroeconomics economics. Comprehensive revision notes and model essays on macroeconomics. Labor is the most important resource because supply of labor depends on. The lecture notes combine the approaches of and adapt materials in both books. Macroeconomics considers the aggregate performance of all markets in the market system and is concerned with the choices made by the large subsectors of the economythe household sector, which includes all consumers. Ib microeconomics notes 26 pages notesgen notesgen. Lecture notes for mankiws principles of microeconomics. This is macroeconomics and here are some interesting objectivesquestions. The text observes shortrun macroeconomic performance, analysis, and policy motivated by the recessions of the early.
A 16th chapter is a set of flashcards for revision. Contents 1 themarket4 2 budgetconstraint8 3 preferences10 4 utility 14 5 choice 18 6 demand 24 7 revealedpreference27 8 slutskyequation30 9 buyingandselling33 10intertemporalchoice37 12uncertainty39 14consumersurplus43 15marketdemand46 18technology48. Intermediate macroeconomics lecture 1 introduction to. The sum total of factor of incomes accruing to the residents of the country, both from their activities within and outside the economic territory is the national income of the country. These include the syllabus, lecture notes, and problem. Intermediate microeconomics notes and assignment chapter 4. With few exceptions, the articles are also summarized in romer or blanchard and fischer. Factors that affect equilibrium income and the interest rate monetary influences. Each offers its owners significant advantages and disadvantages. This is a collection of lecture notes that i have used over a number of years teaching advanced. It is thus not necessary to read all or even most of the articles on the list. There is no making up for missed homework, so i strongly recommend not leaving them until the last minute. In this course, you will build on and apply what you learned in econ102.
In this set of notes we endogenize the real interest rate. We are interested to determine what drives the relative price of nontraded goods, p n. Economics 14 class notes spring 2005 introduction scarcity and choice. International macroeconomics advanced level lecture notes. Equilibrium eric sims university of notre dame fall 2012 1 introduction in our discussion of consumption, we analyzed the problem of an optimizing household that takes the real interest rate as given. Studying the longrun performance of the economy economic growth 3. With more than 2,200 courses available, ocw is delivering on the promise of open sharing of knowledge. This is a summary of some basic mathematics for handling constrained optimization problems. His research includes work on price adjustment, consumer behavior, financial markets. Intermediate macroeconomics lecture 1 introduction to economic growth. Growth, inflation, balance of payments, unemployment, fiscal policy, monetary policy. Intermediate macroeconomics page 1 of 5 lecture notes chapter 3.
Lecture notes in macroeconomics university of houston. There are additional readings on the syllabus which will be distributed in class. Notes on macroeconomic theory steve williamson dept. Find materials for this course in the pages linked along the left. Contents 1 themarket4 2 budgetconstraint8 3 preferences10 4 utility 14 5 choice 18 6 demand 24 7 revealedpreference27 8. Lecture notes intermediate macroeconomics economics mit. Macroeconomics final exam notes lecture notes, lectures.
Where it comes from and where it goes production function. Review notes introduction to macroeconomics what is macroeconomics. In macroeconomics, the term investment is reserved for purchases by firms of capital machines, buildings, etc and purchases by households of some durable goods such as housing. Notes for cbse class 12 economics free pdf download. Jan, 2017 dating from 2015, this is a 15chapter textbook intended for a onesemester course in macroeconomic theory. We also recommend you work through some of the as macro revision videos on the entry below. Macroeconomics notes pdf macroeconomics class 12 notes lecture notes on macroeconomics pdf advanced macroeconomics lecture notes mankiw, ng 1997, macroeconomics, worth publishers edgmand, m. Still this book provides a good example of internationally recognised standard oneyear intermediate macroeconomics course and serves as a natural benchmark for the syllabus. Remember that macroeconomics attempts to explain the role of government and the scope of total production in a national economy.
Below is a topicbytopic listing of the available study notes for the macroeconomics topics for year 1 as a level economics here on tutor2u. Macroeconomics this section of economics predominantly lends itself to paper 1, where we have to answer a two part essay question purely on macroeconomics plus another one on micro. These notes are specifically made for the new curriculum. Even though there are no required textbooks for this class, i match most covered topics with chapters of stephen williamsons macroeconomics, 5th ed. Governments rarely want high unemployment as it is a waste of resources. The emphasis is on theory, although data guides the theoretical explorations. Introduction to macroeconomics lecture notes robert m. In macroeconomics, if we can successfully explain particular phenomena e. Forms of business organizations there are three main forms of business organizations in the economy today the sole proprietorship, the partnership, and the corporation. These notes are for use with pacroeconoics, canadian edition.
Class notes intermediate macroeconomics li gan lecture 5. By contrast, microeconomics treats economic processes that concern. Lecture notes intermediate macroeconomics economics. Macroeconomics final exam notes lecture notes, lectures 4. Shifts in the lm schedule o assume an increase from to money supply shock. This book represents a substantial makeover and extension of the course notes for intermediate. Topics in microeconomics and macroeconomics, international trade, taxation, assets classes, investment, manufacturing, the service sector, and governments role. Lecture notes for mankiws principles of microeconomics, 3rd 3rd edition. Why do prices rise rapidly in some periods and remain stable in others. We build entirely on models with microfoundations, i. Note that growth accounting is not the study of economic growth we will return to consider the topic of economic growth at the end of the course. It examines the canadian economy as an economic system, and embeds current canadian institutions and approaches to monetary policy and fiscal policy within that system.
I lecture notes will become available weekly on my website. Chapter 11 aggregate supply aggregate supply in the short run as relationship between the economys price level and assuming. You should be sure to read the first two pages of the chapter. A short course in introductory macroeconomics not to be circulated. The difference between macroeconomics and microeconomics macroeconomics includes those concepts that deal with the entire economy or large components of the economy or the world. See the appendix for an explanation of the notation for calculus, and note how we. The starting point the keynesian revolution was against classical economics orthodox economics keynes refer to all economists before 1936 as classical economics this is wrong. It could also be used by graduate students seeking a refresher in advanced undergraduate macroeconomics. Reducing unemployment and inflation are two of the key macroeconomic objectives of any government. A level economics year 1 as macroeconomics study notes. Intermediate microeconomics notes and sample questions chapter 8. You will use the concepts of output, unemployment, inflation, consumption, and investment to study the dynamics of an economy at a more advanced level.
These notes will eventually become a book by professor drik kruger and jesus fernandezvillaverde. Class notes intermediate macroeconomics li gan lecture 3. Lecture notes in macroeconomics the department of economics. This book represents a substantial makeover and extension of the course notes for intermediate macroeconomics which have been provided publicly on eric simss personalwebsitefor several years. Lecture notes 1 homework 1 suggested answer dataset for the textbook. The most common form of business organization in the united states is the. Author names and qualifications are given in each lesson. Why is average income high in some countries and low in others. The nations unemployment rate, inflation rates, interest rates, federal government budgets and government fiscal policies, economic growth, the federal reserve system. A graphical introduction to the budget constraint and utility maximization. It is net national product nnp at factor cost fc it does not include taxes, depreciation and nonfactor inputs raw materials. The classical revolution classical economics was a reaction against mercantilism o the idea that wealth is in the stock of money precious metals and not in how much can be consumed o the idea that the state needs to impose regulation so that exports have to more than imports so. The kunzets curve, namely an inverted ushaped relation between income inequality and gdp per capita growth rates as well.
Gross domestic product inflation unemployment use of the scientific method. School of economics and finance the university of hong kong. Mit opencourseware makes the materials used in the teaching of almost all of mits subjects available on the web, free of charge. Burdett at the university of essex in 200910, based on mankiws macroeconomics 2006, 6th ed it includes a course outline, lecture notes, assignments and problem sets with solutions. Utility maximization and choice this chapter discusses how consumers make consumption decisions given their preferences and budget constraints. Also, unless there are critical circumstances out of your control happening such as sudden. Driscoll brown university and nber1 december 21, 2003 1department of economics, brown university, box b, providence ri 02912. Introduction to macroeconomics in the form of 15 chapters, subdivided into a total of 7 lessons, each with an animated video, a transcript and a selftext quiz. View detail add to cart ib microeconomics notes 26 pages commerce.
The study of structure and performance of national economies and government policies that a ect economic performance. Understanding and forecasting shortunderstanding and forecasting shortrun fluctuations therun fluctuations the business cyclebusiness cycle 2. An aggregate is a multitude of economic subjects that share some common features. We will study investment activity in more detail later.
The textbook for the course is dornbusch and fischers macroeconomics. Cost functions this chapter investigates the relationship between a production function and the cost of producing given quantities of output, assuming that a firm minimizes its costs of production. Those student who find it difficult to start the study of macroeconomics with blanchards. Ch 23 measuring a nations income introduction microeconomics studies how households and firms make decisions and how they interact in markets.
International macroeconomics balassasamuelson effect 1. Online text and notes in principles of macroeconomics. This course webpage supports a course on intermediate macroeconomics as taught by g. National income is calculated for a particular period, normally a financial year in india, financial year means april 1 to march 31 of next year. Mustwatch revision videos before sitting a level economics paper 2. The prefix macro means large, indicating that macroeconomics is concerned with the study of the market system on a large scale. Intermediate microeconomics, lecture 4 economics 352. Online text and notes in principles of macroeconomics the. Professor mankiw is a prolific writer and a regular participant in academic and policy debates. Macroeconomics 1880 1900 1920 1940 1960 1980 2000 matthiasdoepke universityofchicago andreaslehnert boardofgovernorsofthe federalreservesystem andreww. I longrun economic growth i business cycles i unemployment i in ation i the international economy i macroeconomic policy aggregation.
Paper 2 involves data response questions focussing on international trade and development economics, but a good foundation on macro is needed as well. Because historical episodes allow diverse interpretations, many conclusions of macroeconomics are not coercive. Econ 301d intermediate macroeconomics september 8, 2016 you are also required to complete homeworks in time and attend written exams. Access to the videos, full transcripts and quizzes requires a paid login. Intermediate macroeconomics university of notre dame. The overriding goal of the course is to begin provide methodological tools for advanced research in macroeconomics. Economics lecture 3 class notes national income total value of final goods and services produced by the normal residents during an accounting year, after adjusting depreciation. The main aims of macroeconomics have to do with i economic growth and ii cycles, as measured by various statistical representations of the variables that describe the economy economic growth. Cbse class 12 economics notes free pdf download ncert. Online text and notes in intermediate macroeconomics the. Notes for macroeconomics ii, ec 607 university of michigan. Theory a mankiw, ng 1997, macroeconomics, worth publishers. He has taught macroeconomics, microeconomics, statistics, and principles of economics.
1301 276 1108 165 212 127 736 1062 341 543 1251 1361 637 146 475 356 518 132 605 752 447 371 975 223 37 837 927 1350 263 506 409 384 185 57 912 884 1211 337 1134 260 1127 318 964 940 605 334 637