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Macro 1

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Gale Pooley
Gale Pooley

This document provides an overview of the introduction lecture for a macroeconomics course. It includes: - Contact information for the professor, Dr. Gale L. Pooley - A brief history of economic growth from 1820 to present showing increases in population, life expectancy, income per capita, and comparisons to the world - An introduction to key concepts in economics like scarcity, choices, and cooperation - Information about the course structure including textbook, grading scale, and time commitment - Details on the economics lab and opportunities to get help from the teaching assistant - A quote about thinking like an economist and weighing costs and benefits of choices

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Lecture 1 - Introduction Macroeconomics
Dr. Gale L. Pooley, Ph.D. Email: gpooley@byuh.edu Phone: 675-3587 Office: HGB 226 Office Hours: Monday and Wednesday 2:00pm to 4:00pm or by appointment
Angus Maddison
20161 AD $2 $100 $30 World 15x Northern Europe North America 50x 1820
88% to 2% in 32 years
1820 2018 Change Population 1 billion 7.5 billion 7.5 x Life Expectancy 30 years 72 years 42 + Income Per Capita Per Day $2 $30 15 x
Astonishing! extremely surprising or impressive; amazing.
How did this happen?
Observe
Think
?
Observe Why Test Think
The Economic Way of Thinking Think Like an Economist
Course Textbook Modern Principles of Macroeconomics 3rd Ed. Cowan, Tabarrok.
Digital-Free Zone No Laptops or Cell Phones
Points Exams 75% Homework, Quizzes In-Class 25% Total 100%
Grading Scale
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
“The pursuit, discovery, and application of truth are what we are on this earth to discover.”
"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
Econ Lab Jaeleen Room 117 Tuesday 9pm - 11pm Wednesday 7pm -9pm
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
Who should make your choices?
What do you want to be?

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Macro 1