SlideShare a Scribd company logo
Lecture 13
Macroeconomics
Two Supply Curves
Long-Run
Short-Run
Short-Run Supply Curve
Adrenaline
Give 110%
Push to exceed normal
capacity
Long Run
Run out of Adrenaline
Fall back to normal
Cannot do 110% forever
unless.....
Aggregate Supply Curve
Aggregate Demand Curve
π Y
Quiz     ADAS Modeling Inflation Output
Curve Direction Level Level
1. Good Weather
2. Slower Money Growth Rate
3. Lower Business Taxes
4. Decrease in Exports
5. New innovation
6. Lower electricity prices
7. Higher Personal Taxes
8. Earthquake
Quiz
AD
Real GDP Growth Rate
Inflation
Rate
π
LRAS
SRAS
Exam 2 Bonus
Movie
Pad Man
Innovation in India
Thursday Room 115
7:00pm - 9:30pm
Little things can
cause big things
Life is not linear
Good
Bad
Transmission and Amplifications
Intertemporal Substitution
Uncertainty and Irreversible Investments
Labor Adjustment Costs
Time Bunching
Collateral Damage
Uncertainty and Irreversible
Investments
Bad news creates uncertainty
uncertainty makes you wait
Sunk Costs
Cannot reverse
Labor Adjustment Costs
Structural Unemployment
What to do?
Wait
Move
Retraining Costs
Time Bunching
Everything at once
Together
Cities are economic clusters
Seasons
Collateral Damage
Skin-in-the-Game
Name on the deed but the
bank owns the house
Owe more than I own
Values fall, equity disappears
Macro 13

More Related Content

Similar to Macro 13

Macro 13
Macro 13Macro 13
Macro 13
Gale Pooley
 
Macro 16
Macro 16Macro 16
Macro 16
Gale Pooley
 
Macro 17.pdf
Macro 17.pdfMacro 17.pdf
Macro 17.pdf
GalePooley1
 
history expectation and growth 1.ppt
history expectation and growth 1.ppthistory expectation and growth 1.ppt
history expectation and growth 1.ppt
NanoSana
 
Crisis 2008 - History, Psychology and Future
Crisis 2008 - History, Psychology and FutureCrisis 2008 - History, Psychology and Future
Crisis 2008 - History, Psychology and Future
Indicus Analytics Private Limited
 
Crisis 2008
Crisis 2008Crisis 2008
Crisis 2008
Siddhartha Dutta
 

Similar to Macro 13 (6)

Macro 13
Macro 13Macro 13
Macro 13
 
Macro 16
Macro 16Macro 16
Macro 16
 
Macro 17.pdf
Macro 17.pdfMacro 17.pdf
Macro 17.pdf
 
history expectation and growth 1.ppt
history expectation and growth 1.ppthistory expectation and growth 1.ppt
history expectation and growth 1.ppt
 
Crisis 2008 - History, Psychology and Future
Crisis 2008 - History, Psychology and FutureCrisis 2008 - History, Psychology and Future
Crisis 2008 - History, Psychology and Future
 
Crisis 2008
Crisis 2008Crisis 2008
Crisis 2008
 

More from Gale Pooley

The Economic History of the U.S. Lecture 30.pdf
The Economic History of the U.S. Lecture 30.pdfThe Economic History of the U.S. Lecture 30.pdf
The Economic History of the U.S. Lecture 30.pdf
Gale Pooley
 
The Economic History of the U.S. Lecture 28.pdf
The Economic History of the U.S. Lecture 28.pdfThe Economic History of the U.S. Lecture 28.pdf
The Economic History of the U.S. Lecture 28.pdf
Gale Pooley
 
The Economic History of the U.S. Lecture 26.pdf
The Economic History of the U.S. Lecture 26.pdfThe Economic History of the U.S. Lecture 26.pdf
The Economic History of the U.S. Lecture 26.pdf
Gale Pooley
 
The Economic History of the U.S. Lecture 25.pdf
The Economic History of the U.S. Lecture 25.pdfThe Economic History of the U.S. Lecture 25.pdf
The Economic History of the U.S. Lecture 25.pdf
Gale Pooley
 
The Economic History of the U.S. Lecture 23.pdf
The Economic History of the U.S. Lecture 23.pdfThe Economic History of the U.S. Lecture 23.pdf
The Economic History of the U.S. Lecture 23.pdf
Gale Pooley
 
The Economic History of the U.S. Lecture 22.pdf
The Economic History of the U.S. Lecture 22.pdfThe Economic History of the U.S. Lecture 22.pdf
The Economic History of the U.S. Lecture 22.pdf
Gale Pooley
 
The Economic History of the U.S. Lecture 21.pdf
The Economic History of the U.S. Lecture 21.pdfThe Economic History of the U.S. Lecture 21.pdf
The Economic History of the U.S. Lecture 21.pdf
Gale Pooley
 
The Economic History of the U.S. Lecture 20.pdf
The Economic History of the U.S. Lecture 20.pdfThe Economic History of the U.S. Lecture 20.pdf
The Economic History of the U.S. Lecture 20.pdf
Gale Pooley
 
The Economic History of the U.S. Lecture 19.pdf
The Economic History of the U.S. Lecture 19.pdfThe Economic History of the U.S. Lecture 19.pdf
The Economic History of the U.S. Lecture 19.pdf
Gale Pooley
 
The Economic History of the U.S. Lecture 18.pdf
The Economic History of the U.S. Lecture 18.pdfThe Economic History of the U.S. Lecture 18.pdf
The Economic History of the U.S. Lecture 18.pdf
Gale Pooley
 
The Economic History of the U.S. Lecture 17.pdf
The Economic History of the U.S. Lecture 17.pdfThe Economic History of the U.S. Lecture 17.pdf
The Economic History of the U.S. Lecture 17.pdf
Gale Pooley
 
Economic History of the U.S. Lecture 16.pdf
Economic History of the U.S. Lecture 16.pdfEconomic History of the U.S. Lecture 16.pdf
Economic History of the U.S. Lecture 16.pdf
Gale Pooley
 
Units States Economic History Lecture 15
Units States Economic History Lecture 15Units States Economic History Lecture 15
Units States Economic History Lecture 15
Gale Pooley
 
Economic History of the United States - Lecture 9
Economic History of the United States - Lecture 9Economic History of the United States - Lecture 9
Economic History of the United States - Lecture 9
Gale Pooley
 
Econ 1740 Economic History of the U.S. Lecture 7
Econ 1740 Economic History of the U.S. Lecture 7Econ 1740 Economic History of the U.S. Lecture 7
Econ 1740 Economic History of the U.S. Lecture 7
Gale Pooley
 
Economic History of the United States - Lecture 4
Economic History of the United States - Lecture 4Economic History of the United States - Lecture 4
Economic History of the United States - Lecture 4
Gale Pooley
 
Economic History of the United States - Lecture 4
Economic History of the United States - Lecture 4Economic History of the United States - Lecture 4
Economic History of the United States - Lecture 4
Gale Pooley
 
Economic History of the United States - Lecture 2
Economic History of the United States - Lecture 2Economic History of the United States - Lecture 2
Economic History of the United States - Lecture 2
Gale Pooley
 
Economic History of the United States - Lecture 1
Economic History of the United States - Lecture 1Economic History of the United States - Lecture 1
Economic History of the United States - Lecture 1
Gale Pooley
 
Economic History of the United States - Lecture 3
Economic History of the United States - Lecture 3Economic History of the United States - Lecture 3
Economic History of the United States - Lecture 3
Gale Pooley
 

More from Gale Pooley (20)

The Economic History of the U.S. Lecture 30.pdf
The Economic History of the U.S. Lecture 30.pdfThe Economic History of the U.S. Lecture 30.pdf
The Economic History of the U.S. Lecture 30.pdf
 
The Economic History of the U.S. Lecture 28.pdf
The Economic History of the U.S. Lecture 28.pdfThe Economic History of the U.S. Lecture 28.pdf
The Economic History of the U.S. Lecture 28.pdf
 
The Economic History of the U.S. Lecture 26.pdf
The Economic History of the U.S. Lecture 26.pdfThe Economic History of the U.S. Lecture 26.pdf
The Economic History of the U.S. Lecture 26.pdf
 
The Economic History of the U.S. Lecture 25.pdf
The Economic History of the U.S. Lecture 25.pdfThe Economic History of the U.S. Lecture 25.pdf
The Economic History of the U.S. Lecture 25.pdf
 
The Economic History of the U.S. Lecture 23.pdf
The Economic History of the U.S. Lecture 23.pdfThe Economic History of the U.S. Lecture 23.pdf
The Economic History of the U.S. Lecture 23.pdf
 
The Economic History of the U.S. Lecture 22.pdf
The Economic History of the U.S. Lecture 22.pdfThe Economic History of the U.S. Lecture 22.pdf
The Economic History of the U.S. Lecture 22.pdf
 
The Economic History of the U.S. Lecture 21.pdf
The Economic History of the U.S. Lecture 21.pdfThe Economic History of the U.S. Lecture 21.pdf
The Economic History of the U.S. Lecture 21.pdf
 
The Economic History of the U.S. Lecture 20.pdf
The Economic History of the U.S. Lecture 20.pdfThe Economic History of the U.S. Lecture 20.pdf
The Economic History of the U.S. Lecture 20.pdf
 
The Economic History of the U.S. Lecture 19.pdf
The Economic History of the U.S. Lecture 19.pdfThe Economic History of the U.S. Lecture 19.pdf
The Economic History of the U.S. Lecture 19.pdf
 
The Economic History of the U.S. Lecture 18.pdf
The Economic History of the U.S. Lecture 18.pdfThe Economic History of the U.S. Lecture 18.pdf
The Economic History of the U.S. Lecture 18.pdf
 
The Economic History of the U.S. Lecture 17.pdf
The Economic History of the U.S. Lecture 17.pdfThe Economic History of the U.S. Lecture 17.pdf
The Economic History of the U.S. Lecture 17.pdf
 
Economic History of the U.S. Lecture 16.pdf
Economic History of the U.S. Lecture 16.pdfEconomic History of the U.S. Lecture 16.pdf
Economic History of the U.S. Lecture 16.pdf
 
Units States Economic History Lecture 15
Units States Economic History Lecture 15Units States Economic History Lecture 15
Units States Economic History Lecture 15
 
Economic History of the United States - Lecture 9
Economic History of the United States - Lecture 9Economic History of the United States - Lecture 9
Economic History of the United States - Lecture 9
 
Econ 1740 Economic History of the U.S. Lecture 7
Econ 1740 Economic History of the U.S. Lecture 7Econ 1740 Economic History of the U.S. Lecture 7
Econ 1740 Economic History of the U.S. Lecture 7
 
Economic History of the United States - Lecture 4
Economic History of the United States - Lecture 4Economic History of the United States - Lecture 4
Economic History of the United States - Lecture 4
 
Economic History of the United States - Lecture 4
Economic History of the United States - Lecture 4Economic History of the United States - Lecture 4
Economic History of the United States - Lecture 4
 
Economic History of the United States - Lecture 2
Economic History of the United States - Lecture 2Economic History of the United States - Lecture 2
Economic History of the United States - Lecture 2
 
Economic History of the United States - Lecture 1
Economic History of the United States - Lecture 1Economic History of the United States - Lecture 1
Economic History of the United States - Lecture 1
 
Economic History of the United States - Lecture 3
Economic History of the United States - Lecture 3Economic History of the United States - Lecture 3
Economic History of the United States - Lecture 3
 

Recently uploaded

Applying the Global Internal Audit Standards_AIS.pdf
Applying the Global Internal Audit Standards_AIS.pdfApplying the Global Internal Audit Standards_AIS.pdf
Applying the Global Internal Audit Standards_AIS.pdf
alexiusbrian1
 
DEMAND AND SUPPLY.docx Notes for Economics
DEMAND AND SUPPLY.docx Notes for EconomicsDEMAND AND SUPPLY.docx Notes for Economics
DEMAND AND SUPPLY.docx Notes for Economics
Opanga1
 
Who Is the Largest Producer of Soybean in India Now.pdf
Who Is the Largest Producer of Soybean in India Now.pdfWho Is the Largest Producer of Soybean in India Now.pdf
Who Is the Largest Producer of Soybean in India Now.pdf
Price Vision
 
Tumelo-deep-dive-into-pass-through-voting-Feb23 (1).pdf
Tumelo-deep-dive-into-pass-through-voting-Feb23 (1).pdfTumelo-deep-dive-into-pass-through-voting-Feb23 (1).pdf
Tumelo-deep-dive-into-pass-through-voting-Feb23 (1).pdf
Henry Tapper
 
1.2 Business Ideas Business Ideas Busine
1.2 Business Ideas Business Ideas Busine1.2 Business Ideas Business Ideas Busine
1.2 Business Ideas Business Ideas Busine
Lawrence101
 
Who Is Abhay Bhutada, MD of Poonawalla Fincorp
Who Is Abhay Bhutada, MD of Poonawalla FincorpWho Is Abhay Bhutada, MD of Poonawalla Fincorp
Who Is Abhay Bhutada, MD of Poonawalla Fincorp
beulahfernandes8
 
Financial Assets: Debit vs Equity Securities.pptx
Financial Assets: Debit vs Equity Securities.pptxFinancial Assets: Debit vs Equity Securities.pptx
Financial Assets: Debit vs Equity Securities.pptx
Writo-Finance
 
How Non-Banking Financial Companies Empower Startups With Venture Debt Financing
How Non-Banking Financial Companies Empower Startups With Venture Debt FinancingHow Non-Banking Financial Companies Empower Startups With Venture Debt Financing
How Non-Banking Financial Companies Empower Startups With Venture Debt Financing
Vighnesh Shashtri
 
5 Tips for Creating Standard Financial Reports
5 Tips for Creating Standard Financial Reports5 Tips for Creating Standard Financial Reports
5 Tips for Creating Standard Financial Reports
EasyReports
 
一比一原版(UCSB毕业证)圣芭芭拉分校毕业证如何办理
一比一原版(UCSB毕业证)圣芭芭拉分校毕业证如何办理一比一原版(UCSB毕业证)圣芭芭拉分校毕业证如何办理
一比一原版(UCSB毕业证)圣芭芭拉分校毕业证如何办理
bbeucd
 
SWAIAP Fraud Risk Mitigation Prof Oyedokun.pptx
SWAIAP Fraud Risk Mitigation   Prof Oyedokun.pptxSWAIAP Fraud Risk Mitigation   Prof Oyedokun.pptx
SWAIAP Fraud Risk Mitigation Prof Oyedokun.pptx
Godwin Emmanuel Oyedokun MBA MSc PhD FCA FCTI FCNA CFE FFAR
 
1. Elemental Economics - Introduction to mining.pdf
1. Elemental Economics - Introduction to mining.pdf1. Elemental Economics - Introduction to mining.pdf
1. Elemental Economics - Introduction to mining.pdf
Neal Brewster
 
Role of Information Technology in Revenue - Prof Oyedokun.pptx
Role of Information Technology in Revenue  - Prof Oyedokun.pptxRole of Information Technology in Revenue  - Prof Oyedokun.pptx
Role of Information Technology in Revenue - Prof Oyedokun.pptx
Godwin Emmanuel Oyedokun MBA MSc PhD FCA FCTI FCNA CFE FFAR
 
This assessment plan proposal is to outline a structured approach to evaluati...
This assessment plan proposal is to outline a structured approach to evaluati...This assessment plan proposal is to outline a structured approach to evaluati...
This assessment plan proposal is to outline a structured approach to evaluati...
lamluanvan.net Viết thuê luận văn
 
Independent Study - College of Wooster Research (2023-2024)
Independent Study - College of Wooster Research (2023-2024)Independent Study - College of Wooster Research (2023-2024)
Independent Study - College of Wooster Research (2023-2024)
AntoniaOwensDetwiler
 
Seminar: Gender Board Diversity through Ownership Networks
Seminar: Gender Board Diversity through Ownership NetworksSeminar: Gender Board Diversity through Ownership Networks
Seminar: Gender Board Diversity through Ownership Networks
GRAPE
 
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...
Donc Test
 
Earn a passive income with prosocial investing
Earn a passive income with prosocial investingEarn a passive income with prosocial investing
Earn a passive income with prosocial investing
Colin R. Turner
 
1:1制作加拿大麦吉尔大学毕业证硕士学历证书原版一模一样
1:1制作加拿大麦吉尔大学毕业证硕士学历证书原版一模一样1:1制作加拿大麦吉尔大学毕业证硕士学历证书原版一模一样
1:1制作加拿大麦吉尔大学毕业证硕士学历证书原版一模一样
qntjwn68
 
Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...
Labour Market Information Council | Conseil de l’information sur le marché du travail
 

Recently uploaded (20)

Applying the Global Internal Audit Standards_AIS.pdf
Applying the Global Internal Audit Standards_AIS.pdfApplying the Global Internal Audit Standards_AIS.pdf
Applying the Global Internal Audit Standards_AIS.pdf
 
DEMAND AND SUPPLY.docx Notes for Economics
DEMAND AND SUPPLY.docx Notes for EconomicsDEMAND AND SUPPLY.docx Notes for Economics
DEMAND AND SUPPLY.docx Notes for Economics
 
Who Is the Largest Producer of Soybean in India Now.pdf
Who Is the Largest Producer of Soybean in India Now.pdfWho Is the Largest Producer of Soybean in India Now.pdf
Who Is the Largest Producer of Soybean in India Now.pdf
 
Tumelo-deep-dive-into-pass-through-voting-Feb23 (1).pdf
Tumelo-deep-dive-into-pass-through-voting-Feb23 (1).pdfTumelo-deep-dive-into-pass-through-voting-Feb23 (1).pdf
Tumelo-deep-dive-into-pass-through-voting-Feb23 (1).pdf
 
1.2 Business Ideas Business Ideas Busine
1.2 Business Ideas Business Ideas Busine1.2 Business Ideas Business Ideas Busine
1.2 Business Ideas Business Ideas Busine
 
Who Is Abhay Bhutada, MD of Poonawalla Fincorp
Who Is Abhay Bhutada, MD of Poonawalla FincorpWho Is Abhay Bhutada, MD of Poonawalla Fincorp
Who Is Abhay Bhutada, MD of Poonawalla Fincorp
 
Financial Assets: Debit vs Equity Securities.pptx
Financial Assets: Debit vs Equity Securities.pptxFinancial Assets: Debit vs Equity Securities.pptx
Financial Assets: Debit vs Equity Securities.pptx
 
How Non-Banking Financial Companies Empower Startups With Venture Debt Financing
How Non-Banking Financial Companies Empower Startups With Venture Debt FinancingHow Non-Banking Financial Companies Empower Startups With Venture Debt Financing
How Non-Banking Financial Companies Empower Startups With Venture Debt Financing
 
5 Tips for Creating Standard Financial Reports
5 Tips for Creating Standard Financial Reports5 Tips for Creating Standard Financial Reports
5 Tips for Creating Standard Financial Reports
 
一比一原版(UCSB毕业证)圣芭芭拉分校毕业证如何办理
一比一原版(UCSB毕业证)圣芭芭拉分校毕业证如何办理一比一原版(UCSB毕业证)圣芭芭拉分校毕业证如何办理
一比一原版(UCSB毕业证)圣芭芭拉分校毕业证如何办理
 
SWAIAP Fraud Risk Mitigation Prof Oyedokun.pptx
SWAIAP Fraud Risk Mitigation   Prof Oyedokun.pptxSWAIAP Fraud Risk Mitigation   Prof Oyedokun.pptx
SWAIAP Fraud Risk Mitigation Prof Oyedokun.pptx
 
1. Elemental Economics - Introduction to mining.pdf
1. Elemental Economics - Introduction to mining.pdf1. Elemental Economics - Introduction to mining.pdf
1. Elemental Economics - Introduction to mining.pdf
 
Role of Information Technology in Revenue - Prof Oyedokun.pptx
Role of Information Technology in Revenue  - Prof Oyedokun.pptxRole of Information Technology in Revenue  - Prof Oyedokun.pptx
Role of Information Technology in Revenue - Prof Oyedokun.pptx
 
This assessment plan proposal is to outline a structured approach to evaluati...
This assessment plan proposal is to outline a structured approach to evaluati...This assessment plan proposal is to outline a structured approach to evaluati...
This assessment plan proposal is to outline a structured approach to evaluati...
 
Independent Study - College of Wooster Research (2023-2024)
Independent Study - College of Wooster Research (2023-2024)Independent Study - College of Wooster Research (2023-2024)
Independent Study - College of Wooster Research (2023-2024)
 
Seminar: Gender Board Diversity through Ownership Networks
Seminar: Gender Board Diversity through Ownership NetworksSeminar: Gender Board Diversity through Ownership Networks
Seminar: Gender Board Diversity through Ownership Networks
 
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...
 
Earn a passive income with prosocial investing
Earn a passive income with prosocial investingEarn a passive income with prosocial investing
Earn a passive income with prosocial investing
 
1:1制作加拿大麦吉尔大学毕业证硕士学历证书原版一模一样
1:1制作加拿大麦吉尔大学毕业证硕士学历证书原版一模一样1:1制作加拿大麦吉尔大学毕业证硕士学历证书原版一模一样
1:1制作加拿大麦吉尔大学毕业证硕士学历证书原版一模一样
 
Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...
 

Macro 13