Growth, inflation, balance of payments, unemployment, fiscal policy, monetary policy. The govt has given the mpc an inflation target of cpi. Request pdf lecture notes on macroeconomics these are lecture notes for a firstyear graduate course on macroeconomics i taught at brown university from 1995 to 2002. Consumers satisfaction there are two sides in a market for a good demand supply created by consumers created by firms. The nations unemployment rate, inflation rates, interest rates, federal government budgets and government fiscal policies, economic growth, the federal reserve system. Macroeconomic stabilization policies, 10 january lecture 2. Macroeconomics 1880 1900 1920 1940 1960 1980 2000 matthiasdoepke universityofchicago andreaslehnert boardofgovernorsofthe federalreservesystem andreww. May, 20 intermediate macroeconomicschapter 1 lecture 1 introduction and course overview this video is one of a series of lectures created by dr.
Economics 14 class notes spring 2005 introduction scarcity and choice. Notes to the introduction to economics macroeconomic part by beggs book university. Lecture notes principles of macroeconomics economics mit. The chinese version of the book was already published in 2016. Cowell sticerd and department of economics london school of economics december 2004. Chapter 1 introduction these lecture notes cover a onesemester course. 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. These are all things that we hope you will learn, questions that you hope, when you. Thus, these notes are not a substitute for a textbooklecture i. Lecture notes econ4630, spring 2006 universitetet i oslo. Ch 23 measuring a nations income introduction microeconomics studies how households and firms make decisions and how they interact in markets. Lecture notes for macroeconomics i, 2004 per krusell please do not distribute without permission. Pdf on jan 1, 2004, sumru altug and others published lecture notes on macroeconomics find, read and cite all the research you need on researchgate. With few exceptions, the articles are also summarized in romer or blanchard and fischer.
Why do people, firms and governments behave the way they do o the role of incentives how does this behaviour impact on the economy, individuals and the environment o the constraint of scarce resources. The lecture notes combine the approaches of and adapt materials in both. The lecture notes combine the approaches of and adapt materials in both books. This section provides the schedule of lecture topics along with lecture notes for each topic. Mar 10, 2020 comprehensive revision notes and model essays on macroeconomics. This note uses the tools of macroeconomics to study various macroeconomic policy problems indepth. Online text and notes in principles of macroeconomics. Discuss whether the primary macroeconomic target of the govt should be low inflation. We on the econ 1 teaching staff all hope that you will be able to. This is the main di erence between the solow model and the neoclassical growth model. Dependent economy model with sectorspecific capital 4 2. We have added a third run to the mix, which we call the \medium run. The following textbooks are also helpful but not required.
To x ideas, assume all households are identical, so the economy admits a representative household. There are many ne textbooks for macroeconomics at the intermediate level currently available. The transmission of monetary policy, 24 january lecture 4. Lecture notes macroeconomic theory i economics mit. V chari, timothy kehoe and ed ward prescott, my excolleagues at stanford, robert hall, beatrix paal and tom.
Introduction to macroeconomics lecture notes robert m. Department of economic and social affairs desa commissioned a series of notes for policymakers and policyshapers both in the government and civil society, in major and interconnected areas relevant to the formulation of national development strategies. The difference between macroeconomics and microeconomics macroeconomics includes those concepts that deal with the entire economy or large components of. L2, measuring macroeconomic variables, this resource may not. Introduction to macroeconomics notes ec1002 london. Online text and notes in principles of macroeconomics the. Microeconomists use the theory of supply and demand to understand. Students can refer to economics a singapore perspective for the diagrams. Romer, which should be familiar and blanchard and fischer. The emphasis is on theory, although data guides the theoretical explorations. Below is a topicbytopic listing of the available study notes for the macroeconomics topics for year 1 as a level economics here on tutor2u.
Omer ozak solow model macroeconomic theory ii 5 142. This is a collection of lecture notes that i have used over a number of years teaching advanced. The natural rate of unemployment is the rate of unemployment that the economy experiences even during normal times, that is, even when the economy is not in a recession. An aggregate is a multitude of economic subjects that share some common features. Gross domestic product measuring a nations income 0 august 28, 2014 prof. Lecture notes macroeconomic theory ii economics mit. Lecture notes and slides are the main material for the class. Macroeconomic stability relies on the consolidated budget.
Week 1 0403 lecture notes what economics is all about. This requires a coordination between the federal government, states, and all levels of governments that manage a budget. Contents chapter 1 basic relationships and balance of payments accounting 1 chapter 2 dependent economy models 4 1. The most important omission is the fact that these notes do not cover dynamic macroeconomic models in any detail. The goals of macroeconomic policy macroeconomic policy o monetary policy. Introduction to macroeconomics macroeconomics lecture. The lectures will very closely follow my lecture notes. Macroeconomics greek makro big describes and explains economic processes that concern aggregates. Macroeconomic theory dirk krueger1 department of economics university of pennsylvania january 26, 2012 1i am grateful to my teachers in minnesota, v. An overview, published by the imf in 1979 under the authorship of poul hostmadsen. We focus on whether policy should consist of adherence to simple, but.
I have added almost double the content of this notes into the book. Lecture notes in macroeconomics university of houston. Political economy lecture notes pdf 569p this note. The second part of the course notes goes over some important macroeconomic topics. Before proceeding, a further note about the technology a is in order. This course on macroeconomic policy and models has not been given before and may well be considered as an experiment.
Introduction to macroeconomics notes ec1002 london studocu. Introduction to macroeconomic theory ii spring, 2019. Some parts of the lecture notes are alternative presentations of stu. This is similar to the approach inblanchard2017, although we reverse ordering relative to blanchard, studying the long run rst, then the medium run, then the. We build entirely on models with microfoundations, i. The lecture notes are in no way intended as a substitute for the textbook. Later we will expand our analysis to include them, but without changing this basic result that for the economy as a whole. Principle of microeconomics note lecture notes, chapters 1 10, 12 20. The central problem of economics will be taught in economics tuition in the first week of term 1. We also recommend you work through some of the as macro revision videos on the entry below. Traditionally, macroeconomic analysis is divided into the \long run growth and the \short run business cycles. Measuring a nations income 2 rich and poor spend the next several lectures looking at the variation in income production across time and across countries our study will be based on economic observables rather than, for instance, culture.
The problems range from economic growth in the long run, to government finances in the intermediate run, and economic stability in the short run. V chari, timothy kehoe and edward prescott, my excolleagues at stanford, robert hall, beatrix paal and tom sargent, my colleagues at upenn hal cole, jeremy greenwood, randy wright and. Slides, papers, and code for other papers can be found most likely at recent work section of this website. We use cookies to offer you a better experience, personalize content, tailor advertising, provide social media features, and better understand the use of our services. These texts include, but are certainly not limited to,mankiw2016,williamson. Apr 03, 2012 both courses and textbooksdivided into a microeconomic and a macroeconomic half. Use taxes or spending to stimulate or slow the economy. These are some selected presentations, notes, lecture notes, or software code based on past seminars and workshops given in the past. These notes are for use with pacroeconoics, canadian edition. Principle of microeconomics note lecture notes, chapters. Logan kelly for the undergraduate course, intermediate. Because historical episodes allow diverse interpretations, many conclusions of macroeconomics are not coercive. References in the notes refer to articles given on the reading list.
Lecture notes in macroeconomics the department of economics. The book is available in the major bookstores in singapore. Intermediate macroeconomicschapter 1 lecture 1 introduction and course overview this video is one of a series of lectures created by dr. The book of advanced microeconomic theory is based on my lecture notes that i have used for more than twenty years. It uses media from around the web, including some economics educators youtube channels. The economic approach, consumer theory basics, homothetic and quasilinear utility functions, the traditional approach to consumer theory, producer theory, choice under uncertainty, competitive markets and partial equilibrium analysis, externalities and public goods, monopoly. Cyclical unemployment refers to the additional unemployment that occurs during. Some words about the intensions underlying the course. Introduction to macroeconomics lecture notes download book. This is an open online course, including text, interactive graphs, assignments and discussion topics, video clips, and interactive questions, based on the openstax principles of economics textbook and refined after testing in some us universities and community colleges in 2017. Contents chapter 1 basic relationships and balance. Acemoglu, introduction to modern economic growth, princeton university press, 2009. Pdf macroeconomic theory lecture notes contents jessie.
Macroeconomics, system of national accounts, variants of gdp, the goods market, financial markets, demand for money and bonds, equilibrium in the money market, price of bonds and interest rate, the islm model, the labor market, the three markets jointly. Notes on international macroeconomics and finance qin lei georgetown university economics department january 1999. Find materials for this course in the pages linked along the left. This section includes detailed lecture material used in this course. See the appendix for an explanation of the notation for calculus, and note how we had.