Macro 2
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This document provides an overview of the key topics to be covered in a lecture on macroeconomics. It includes questions about tradeoffs and incentives, unintended consequences, and how economic models provide simplified versions of reality. It also discusses how cooperation and innovation have allowed billions of people to create value for one another through trade and the production of goods like the iPhone.
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Macro 2
- 2. Lecture 2 - Foundations Macroeconomics
- 5. Questions?
- 6. Time Commitment Class 3 Hours Homework 6 Hours Total 9 Hours
- 8. Every Trade One Price TwoValues Two Winners
- 10. Scarcity Choices
- 12. Economics How we create value for one another Cooperation
- 13. Can you make a pencil?
- 18. Yabut Yes, but Weight Costs and Benefits
- 23. 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
- 24. Made on Earth
- 27. What would you have to be paid to never use the Internet again? Then you must be a millionaire
- 28. Only possible because billions of people have learned to cooperate with each other To serve one another
- 32. 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
- 33. What is worth the most?
- 35. Tradeoffs Mileage Safety A 2001 National Academy of Sciences study estimated that the traffic death toll attributable to past downsizing was approximately 2,000 lives per year.
- 36. Economic Models Simplified Version of Reality Value in Prediction
- 37. Incentives Matter Change Incentives Change Behavior
- 39. Incentives are more important than goals
- 42. Macro Micro
- 43. U.S. Farmers 1800 - 90 percent
- 44. U.S. Farmers 1900 - 45 percent Gasoline engines replaced horses
- 45. U.S. Farmers 2012 - 2 percent
- 46. What happened to those 88 people?
- 47. What is Wealth? What People Want
- 48. Wealth requires Innovation People are the ultimate wealth Innovation requires ideas Ideas require people
- 50. Get wealthy by making others happy
- 51. Every person has the power to create wealth
- 52. Because every person has the power to make someone happy
- 55. Learning English Access to the world’s knowledge
- 56. What if Steve Jobs had been born in Syria like his father?