This document provides an overview of a macroeconomics course. It outlines that the course will cover chapters 23 through 35 of the textbook over the term. This week's lectures will focus on chapters 23 and 24. Students will complete homework assignments for each class and have their first exam covering chapters 23 through 24. The grading breakdown is provided, with the final exam counting for 60% of the final grade. Key macroeconomic indicators like real GDP, CPI, and unemployment rate are introduced.

1. Macroeconomics
Day 1
Dr. Andrew L. H. Parkes
“A Macroeconomic Understanding for use in Business”
卜安
吉

2. Syllabus and Our Course
 The syllabus provides an
outline of what we will
cover during the term:
Chapters 23 through 35 of
the textbook.
 This week we will talk
about Chapters 23 & 24. The required textbook
September 6, 2011 Principles of Macroeconomics, Day 1 2

3. Lectures and Practice Problems
 Lectures: 2 hours per week I will
introduce the new material to you.
 Practice Problems: We will do
assignments from my slides and from
the textbook.
 You will have to prepare assignments
for every class; there is NO class without
homework (sometimes just reading).
 You will do all of your own work during Keep up to date with
the course. Copied assignments will be Economics related issues
given 0 marks.
 Notice you must have access to WSJ, FT
(also investopedia.com – Forbes, etc.).
September 6, 2011 Principles of Macroeconomics, Day 1 3

4. Grading
 First Exam - 20%
 Final Exam - 60%
 Homework - 10%
 Quizzes - 10%
 Total - 100%
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5. Principles of Macroeconomics
(Ch. 23)
 Nothing is required to
begin this course!
 Definitions: We know
MANY of these already!
 Real GDP, CPI, GDP
deflator, Unemployment
rate, …
September 6, 2011 Principles of Macroeconomics, Day 1 5

6. Principles of Macroeconomics
(Ch. 23)
 A “snapshot” from The Economist online magazine: http://www.economist.com/node/16909167
(China’s private vehicles are growing faster than the amount of
express highways is growing. The growth rates are expressed
in the graph above as the slopes of the lines.)
September 6, 2011 Principles of Macroeconomics, Day 1 6

7. MY WEBSITE: andrewparkes.com
 Or blog –
sometimes I
comment on
economics and
finance.
Total Public Debt Outstanding
 Like this => 11/29/2007 $ 9,139,880,193,861.94
3/19/2009 $ 11,039,686,130,898.10
9/06/2010 $ 13,442,057,367,029.28
September 6, 2011 Principles of Macroeconomics, Day 1 7

8. Yuan trades at what rate today?
 See BB (Blackboard.com) for articles
we discuss!
 Three Goals of any
MACROECONOMY
– Full Employment – Unemployment Rate
– Economic Growth – REAL GDP
– Price Stability - CPI
– KNOW what real GDP and CPI mean
– On the first test!!! – 5 pts
September 6, 2011 Principles of Macroeconomics, Day 1 8

9. U. S. Real GDP 2005 - 2009
http://www.bea.gov/newsreleases/national/gdp/gdp_glance.htm
September 6, 2011 Principles of Macroeconomics, Day 1 9

10. Personal Income & Spending
http://www.bea.gov/newsreleases/national/pi/pi_glance.htm
September 6, 2011 Principles of Macroeconomics, Day 1 10

11. Trade Balance in the U.S.
http://www.bea.gov/newsreleases/international/transactions/trans_glance.htm
September 6, 2011 Principles of Macroeconomics, Day 1 11

12. Consumer Price Index 1999 - 2009
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13. KNOW WHO THE FED IS!?!
 See my website if you need more info …
– PPT from week 2 or 3 Principles of Macro
– U.S. Macroeconomic Sites
 People’s Bank of China
– Website is available from mine
– Know who they are and what they do!
– These are the most important financial
institutions in this class!
September 6, 2011 Principles of Macroeconomics, Day 1 13

14. Geographic Distribution of Unemployment,
July 2009
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15. Problem Set 1: Inflation Basics
 CPI and
GDP
deflator
 Some
basic
ideas and
concepts
September 6, 2011 Principles of Macroeconomics, Day 1 15