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Lecture 1 - Introduction
Macroeconomics
Opening
Prayer
Start
Recording
Dr. Gale L. Pooley, Ph.D.
Email: gpooley@byuh.edu
Phone: 675-3587
Office: HGB 227
Office Hours:
Wednesday 10:00am - 11:00pm
Tuesday and Thursday 1:30pm – 3:00pm
or by appointment
Angus Maddison
20161
AD
$2
$100
$30 World
15x
Northern Europe
North America
50x
1820
88% to 2% in 32 years
For the earth is full, and there is
enough and to spare; yea, I
prepared all things, and have given
unto the children of men to be
agents unto themselves.
Doctrine and Covenants 104:17
Year: 1834
1820 2020 Change
Population 1 billion 7.8 billion 7.8 x
Life Expectancy 30 years 72 years 42 +
Income Per
Capita Per Day
$2 $30 15 x
“The pursuit,
discovery, and
application of
truth are what
we are on this
earth to
discover.”
Astonishing!
extremely surprising
or impressive;
amazing.
How did this
happen?
The Economic Way
of Thinking
Think Like
an Economist
Econ
Lab
TA
Conner
Econ 201
Course
Textbook
Modern Principles of
Macroeconomics
4th Edition
Cowan, Tabarrok.
Free Trial
Go to https://www.macmillanhighered.com/launchpad/cowentabarrokmacro4e/11883878
Activate Flash
Points
Exams 75%
Homework, Quizzes In-Class 25%
Total 100%
Grading Scale
"For a poor person
everything is
terrible. . . . we are
afraid of everything;
we depend on
everyone. No one
needs us. We are like
garbage that
everyone wants to
get rid of”
Blind woman from Tiraspol, Moldova 1997 (cited in Narayan, 2000, p.
65).
All human beings—male and female—are
created in the image of God. Each is a
beloved spirit son or daughter of
heavenly parents, and, as such, each has
a divine nature and destiny.
Scarcity
Choices
Make Better
Choices
Economics
How we create
value for one
another
Cooperation
Time Commitment
Class 3 Hours
Homework 6 Hours
Total 9 Hours
Can you make a
pencil?
Every Trade
One Price
TwoValues
Two Winners
Think
like an
Economist
Words
Numbers
Illustrations
Economist’s
Dictionary
Yabut
Yes, but
Weight Costs and
Benefits
Compared
to What?
Then
What
Happens?
Who should
make your
choices?
What
do you
want to be?
Get the most
out of life
Rational
Incentives
Margin
Where
is the
iPhone
made?
ARM Holdings
Wolfson
Marvel
Skyworks
CSR
Linear Technologies
NXP
National Semiconductor
Sharp
Samsung
Toshiba
Infineon
Broadcom
Numonyx
Micron
Dialog Semiconductor
Texas Instruments
STMicroelectronics
Silicon Storage
RF Microdevices
Cirrus Logic
U.S.
U.K.
Germany
Korea
Japan
Taiwan
China
Made on Earth
Design
Manufacturing Parts
Assembly
Packaging
Shipping
Marketing
What would you
have to be paid
to never use the
Internet again?
Then you must
be a millionaire
Only possible
because billions
of people have
learned to
cooperate with
each other
To serve one
another
The most
creative-destructive
device ever
invented
What does it cost to ship an iPhone from China to the U.S.?
54¢
450,000 iPhones cost about $242,000 to charter
Fuel accounting for more than half the expense. 44,700 gallons

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