ECON 408-001 Intermediate Macroeconomic Theory
... means we are concerned with economic behavior in the aggregate, that is, at the level of the system as a whole. Thus we want to find out what determines the level of and fluctuations (business cycles) in aggregate incorne, · aggr~ate emplo.:yrnent, and the aggregate price level . We .want to know ho ...
... means we are concerned with economic behavior in the aggregate, that is, at the level of the system as a whole. Thus we want to find out what determines the level of and fluctuations (business cycles) in aggregate incorne, · aggr~ate emplo.:yrnent, and the aggregate price level . We .want to know ho ...
Check Your Understanding
... 4. The Lorenz curve is used to demonstrate ___________. 5. Intense form of inflation that can go as high as 100 t 300 percent is ____________. 6. Unemployment caused when machines replace people 7. Caused by a fundamental change in the operations of the economy 8. Inflation in the range of 1 to 3% p ...
... 4. The Lorenz curve is used to demonstrate ___________. 5. Intense form of inflation that can go as high as 100 t 300 percent is ____________. 6. Unemployment caused when machines replace people 7. Caused by a fundamental change in the operations of the economy 8. Inflation in the range of 1 to 3% p ...
Document
... exams. There will be no early exams or e-exams. If you miss an exam, you have to make sure that your excuse is documented and approved by the University. If you have a valid reason with required documentation, such as a doctor’s report approved by the University, you will be allowed to take the make ...
... exams. There will be no early exams or e-exams. If you miss an exam, you have to make sure that your excuse is documented and approved by the University. If you have a valid reason with required documentation, such as a doctor’s report approved by the University, you will be allowed to take the make ...
Endogenous Variables Exogenous Variables
... (vertical), or c) gradually upward sloping. For each curve, be sure to address the role played by in the labor market. ...
... (vertical), or c) gradually upward sloping. For each curve, be sure to address the role played by in the labor market. ...
ECON-262 Principles of Macroeconomics
... After completion of the course students are expected to be able to: • Measure economic variables (GNP and its components, inflation, unemployment, money supply, balance of payments, exchange rates) • Analyze the aggregate demand – aggregate supply model, the concept of the multiplier and the busines ...
... After completion of the course students are expected to be able to: • Measure economic variables (GNP and its components, inflation, unemployment, money supply, balance of payments, exchange rates) • Analyze the aggregate demand – aggregate supply model, the concept of the multiplier and the busines ...
Lecture One: Introductions and Evolution of Macroeconomic Thought
... demand for goods which is determined by the levels of consumption and planned investment. If total demand in an economy is to low, then unemployment will exist. ...
... demand for goods which is determined by the levels of consumption and planned investment. If total demand in an economy is to low, then unemployment will exist. ...
Final Exam June 3
... of Economic Advisors under President George W. Bush from 2003 to 2005 and, thus, was chief author of its annual report, published with the Economic Report of the President during that time period. His text details the rudiments of the two major modeling strategies used by economists in the United St ...
... of Economic Advisors under President George W. Bush from 2003 to 2005 and, thus, was chief author of its annual report, published with the Economic Report of the President during that time period. His text details the rudiments of the two major modeling strategies used by economists in the United St ...
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.