University of Vermont Department of Economics Course Outline
... Office Hours: by appointment only catalina.vizcarra@uvm.edu ...
... Office Hours: by appointment only catalina.vizcarra@uvm.edu ...
Breaking from Orthodoxy: Responses to the Great Depression
... stay low, factories stay idle, workers stay unemployed, and workers don’t have income to consume products. Demand therefore stays low • A “vicious circle” created by investors acting rationally as individuals, but irrationally as a group. Implied a role for government to help shift investor expectat ...
... stay low, factories stay idle, workers stay unemployed, and workers don’t have income to consume products. Demand therefore stays low • A “vicious circle” created by investors acting rationally as individuals, but irrationally as a group. Implied a role for government to help shift investor expectat ...
202 course paper: 2001
... You can liven up the theoretical aspects of this course by referring to current policy issues. A lot of information is now available on the internet and I would strongly recommend you to get acquainted with two sites which produce some very interesting material for this course. Some of you will alre ...
... You can liven up the theoretical aspects of this course by referring to current policy issues. A lot of information is now available on the internet and I would strongly recommend you to get acquainted with two sites which produce some very interesting material for this course. Some of you will alre ...
econimic is the social science
... the town well. To pay for maintaining the well, the town taxes its residents. Peter has income of $50,000 and is taxed $5,000, or 10 % Paul has income of $10,000 and is taxed $2,000, or 20 % Is this policy fair? If not, who pays too much and who pays too little? Does it matter whether Paul’s low inc ...
... the town well. To pay for maintaining the well, the town taxes its residents. Peter has income of $50,000 and is taxed $5,000, or 10 % Paul has income of $10,000 and is taxed $2,000, or 20 % Is this policy fair? If not, who pays too much and who pays too little? Does it matter whether Paul’s low inc ...
Microfoundations
... phenomena in terms of the behavior of individual economic entities and their interactions. These interactions can involve both market and non-market interactions. The quest for microfoundations grew out of the widely felt, but rarely explicitly stated, desire to stick to the position of methodologic ...
... phenomena in terms of the behavior of individual economic entities and their interactions. These interactions can involve both market and non-market interactions. The quest for microfoundations grew out of the widely felt, but rarely explicitly stated, desire to stick to the position of methodologic ...
1. The field of economics is traditionally divided into two - E-SGH
... b. How can we best encourage economic growth? c. What is the overall price level in the economy? d. What are the variables that determine the price of a specific good? e. How can we reduce the unemployment rate among Hispanic men? 12. A normative statement describes how the world a. Was in the past ...
... b. How can we best encourage economic growth? c. What is the overall price level in the economy? d. What are the variables that determine the price of a specific good? e. How can we reduce the unemployment rate among Hispanic men? 12. A normative statement describes how the world a. Was in the past ...
Advanced Placement Microeconomics Review Sheet
... export and import. Identify whether the data is in terms of – output per unit of input or input per unit of output. 4) Use PPC’s to illustrate the gains from trade. 5) What is a tariff, and what are some of the effects of tariffs? 6) Use supply and demand graphs to illustrate the economic effects of ...
... export and import. Identify whether the data is in terms of – output per unit of input or input per unit of output. 4) Use PPC’s to illustrate the gains from trade. 5) What is a tariff, and what are some of the effects of tariffs? 6) Use supply and demand graphs to illustrate the economic effects of ...
International Institute of Economics and Finance
... representative agent framework and the overlapping-generations framework, as well as some of the standard applications to fiscal policy and social security. Students will be also familiarized with the main ideas of endogenous growth theory, ways to introduce money in dynamic optimizing macroeconomic ...
... representative agent framework and the overlapping-generations framework, as well as some of the standard applications to fiscal policy and social security. Students will be also familiarized with the main ideas of endogenous growth theory, ways to introduce money in dynamic optimizing macroeconomic ...
ECON 3080-001 Intermediate Macroeconomic Theory
... Exams and Problem Sets Each exam will be composed of several multiple choice questions and some analytical problems. Midterm exams are not cumulative. The final exam will be held in the regular classroom on Saturday May 3 from 1:30 – 4:00 PM. There will be no make-up exams. Problem sets for each ch ...
... Exams and Problem Sets Each exam will be composed of several multiple choice questions and some analytical problems. Midterm exams are not cumulative. The final exam will be held in the regular classroom on Saturday May 3 from 1:30 – 4:00 PM. There will be no make-up exams. Problem sets for each ch ...
Other materials - Essentials Guides
... National income and price determination Financial sector Inflation, unemployment, and stabilization policies Economic growth and productivity Open Economy (international trade and finance) Aggregate economic activity, utilization of resources within and across countries, and the critical evaluation ...
... National income and price determination Financial sector Inflation, unemployment, and stabilization policies Economic growth and productivity Open Economy (international trade and finance) Aggregate economic activity, utilization of resources within and across countries, and the critical evaluation ...
Measuring Unemployment Measuring Unemployment (cont.)
... One of the major goals in stabilizing the national economy is maintaining a low unemployment rate. Economists classify unemployment as one of four types. ...
... One of the major goals in stabilizing the national economy is maintaining a low unemployment rate. Economists classify unemployment as one of four types. ...
Neo Keynesianism
... In this paper we show that fiscal multipliers can be strongly state dependent in a countercyclical manner. – In particular, a fiscal expansion during a recession may lead to multiplier values exceeding two, ...
... In this paper we show that fiscal multipliers can be strongly state dependent in a countercyclical manner. – In particular, a fiscal expansion during a recession may lead to multiplier values exceeding two, ...
LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
... Money demand Md = 0.2y – 10i Money supply Ms = 100 Exports X = 20 Imports M = 10 + 0.1y a) Obtain the IS and LM equations of the economy b) Find out equilibrium income and rate of interest c) Find the balance of trade. 12. Explain the concept of Multiplier. How does it work? 13. Explain the various ...
... Money demand Md = 0.2y – 10i Money supply Ms = 100 Exports X = 20 Imports M = 10 + 0.1y a) Obtain the IS and LM equations of the economy b) Find out equilibrium income and rate of interest c) Find the balance of trade. 12. Explain the concept of Multiplier. How does it work? 13. Explain the various ...
ECON 3080-001 Intermediate Macroeconomic Theory
... questions. All other tests would be of essay kind, some of them would consist of the questions given at home to study. Make-up tests are strongly discouraged. In general, a score of 901 ...
... questions. All other tests would be of essay kind, some of them would consist of the questions given at home to study. Make-up tests are strongly discouraged. In general, a score of 901 ...
Ch25 - 山东大学课程中心
... 2. If consumer expenditure is related to consumers' expectations of their average income in the future, will an income tax cut have a larger effect on consumer expenditure if the public expects the tax cut to last for one year or for ten years? Use an aggregate demand and supply diagram to illustrat ...
... 2. If consumer expenditure is related to consumers' expectations of their average income in the future, will an income tax cut have a larger effect on consumer expenditure if the public expects the tax cut to last for one year or for ten years? Use an aggregate demand and supply diagram to illustrat ...
Edmund Phelps
Edmund Strother Phelps, Jr. (born July 26, 1933) is an American economist and the winner of the 2006 Nobel Memorial Prize in Economic Sciences. Early in his career he became renowned for his research at Yale's Cowles Foundation in the first half of the 1960s on the sources of economic growth. His demonstration of the Golden Rule savings rate, a concept first devised by John von Neumann and Maurice Allais, started a wave of research on how much a nation ought to spend on present consumption rather than save and invest for future generations. His most seminal work inserted a microfoundation—one featuring imperfect information, incomplete knowledge and expectations about wages and prices—to support a macroeconomic theory of employment determination and price-wage dynamics. This led to his development of the natural rate of unemployment—its existence and the mechanism governing its size.Phelps has been McVickar Professor of Political Economy at Columbia University since 1982. He is also the director of Columbia's Center on Capitalism and Society.