Lecture notes principles of microeconomics economics. Openstax college has compiled many resources for faculty and students, from facultyonly content to interactive homework and study guides. This database hosts comprehensive ib economics revision notes me and my study group made for the post20 examinations syllabus currently sl material only. Macroeconomics 1880 1900 1920 1940 1960 1980 2000 matthiasdoepke universityofchicago andreaslehnert boardofgovernorsofthe federalreservesystem andreww. Macroeconomics class 12 pdf is a great way of saving time and effort. Principles of economics pdf and web view versions have been updated to include current fred federal reserve economic data. In macroeconomics, if we can successfully explain particular phenomena e. This manuscript is a rough and unfinished set of lecture notes about macroeconomics.
Understanding and forecasting shortunderstanding and forecasting short run fluctuations therun fluctuations the business cyclebusiness cycle. Economics, therefore, is a social science, which examines people behaving according to their selfinterests. The lecture notes combine the approaches of and adapt materials in both. It uses media from around the web, including some economics educators youtube channels. If the consumer spends all the money in good x then she buys ipx units of this good. Applied microeconomics consumption, production and markets this is a microeconomic theory book designed for upperdivision undergraduate students in economics and agricultural economics. See the appendix for an explanation of the notation for calculus, and note how we. Bbs 2nd year business economics ii macroeconomics notes. Lecture notes in macroeconomics the department of economics. Clarity comes in part from the intuitive presentation style, but we have also integrated a number of pedagogical features that we believe make learning economic concepts and principles easier and more fun.
Growth, inflation, balance of payments, unemployment, fiscal policy, monetary policy. Lecture notes intermediate macroeconomics economics. This is a summary of some basic mathematics for handling constrained optimiza. Download the education resources of bbs 2 nd year business economics ii macroeconomics from our collection. Modern macroeconomics is simply microeconomics applied at a high. Jan 25, 2017 bbs 2nd year business economics ii macroeconomics notes. July 31, 2019 chapters 1216 are preliminary and incomplete. To decide what to produce and in what quantities, it is first necessary to know what is obtainable. The prefix micro means small, indicating that microeconomics is concerned with the study of the market system on a small scale. Below is a topicbytopic listing of the available study notes for the macroeconomics topics for year 1 as a level economics here on tutor2u. The main aims of macroeconomics have to do with i economic growth and ii cycles, as measured by various statistical representations of the variables that describe the economy economic growth.
Developing countries, notwithstanding the enormous strides they. A brief overview of the history of macroeconomics i classics smith, ricardo, marx did not have a sharp distinction between micro and macro. For students, by students znotes ciecaie igcse,as,a. Now, skilled labors and advanced computerized machineries are used. We build entirely on models with microfoundations, i. Microeconomics is primarily focused on the individual agents i. The definition set out at the turn of the twentieth century by alfred marshall, author of the principles of economics, reflects the complexity underlying economics. Jul 18, 2017 microeconomics and macroeconomics are two most general fields in economics. Ppcshows all the possible combinations of 2 goods or services. Driscoll brown university and nber1 december 21, 2003. More specifically, the editors encourage the submission of high quality papers that are concerned with the theoretical or empirical aspects of the following broadly. This document is highly rated by commerce students and has been viewed 33530 times.
This book represents a substantial makeover and extension of the course notes for intermediate macroeconomics which have been provided publicly on eric simss personalwebsitefor several years. Gregory mankiw pdf book play macro pdf book econ1102 summary notes. The emphasis is on theory, although data guides the theoretical explorations. Macroeconomic revision notes macroeconomics global. Advanced macroeconomics 11 introduction to macroeconomics 1 introduction to macroeconomics 1. Comparing the two totals, we see that national product equals national income as it always must. Online text and notes in principles of macroeconomics the. There are many ne textbooks for macroeconomics at the intermediate level currently available. Contents preface xvii i the field and basic categories 1 1 introduction 3 1. Principles of macroeconomics open textbook library. Intermediate macroeconomics lecture 1 introduction to economic growth. Since its inception in 1979, the journal of macroeconomics has published theoretical and empirical articles that span the entire range of macroeconomics and monetary economics.
Jan 15, 2020 this is an open online course, including text, interactive graphs, assignments and discussion topics, video clips, and interactive questions, based on the openstax principles of economics textbook and refined after testing in some us universities and community colleges in 2017. Intermediate macroeconomics lecture 1 introduction to. The nations unemployment rate, inflation rates, interest rates, federal government budgets and government fiscal policies, economic growth, the federal reserve system. Intermediate macroeconomics lecture 1 introduction to economic growth zs o a l. This is a basic equality that holds even in the most complex economies. The lecture notes combine the approaches of and adapt materials in both books. Motivation consider the handout labeled the first measured century. Dornbusch, rudiger 1980 open economics macroeconomics, chapter 6, new york. Economics is one of the social sciences, which has great influence on every human being.
Because historical episodes allow diverse interpretations, many conclusions of macroeconomics are not coercive. But ever since i found znotes, ive never felt any more relieved about the upcoming exams. Lecture notes principles of macroeconomics economics. Microeconomics looks at the individual markets that make up the market system and is concerned with the choices made by small economic units such as individual consumers, individual firms, or individual government agencies. Ch 23 measuring a nations income introduction microeconomics studies how households and firms make decisions and how they interact in markets. A summary of the macroeconomic rofiq, irawanperwanda q 1. Us business cycle and economic growth real gdp 11948 present black line trend in real gdp over time black axis defined later in the lecture. Mit opencourseware makes the materials used in the teaching of almost all of mits subjects available on the web, free of charge. As such, it is important to understand some of the most important definitions and concepts used in the field of labor economics.
Introduction to macroeconomics lecture notes robert m. I besides the lectures, there will be 6 tutorials i september 15, september 29, october, november 10, november 17, december 1. The overriding goal of the course is to begin provide methodological tools for advanced research in macroeconomics. I lecture notes will become available weekly on my website. We will study investment activity in more detail later. Modern economies have more diversion in form of production function. Reducing unemployment and inflation are two of the key macroeconomic objectives of any government. Introductory microeconomics uniti production possibilities curve the production possibilities pp curve is a graphical medium of highlighting the central problem of what to produce. Governments rarely want high unemployment as it is a waste of resources. The study of unemployment is one major focus of macroeconomics. National council of educational research and training home. Introduction to macroeconomics cheng chen school of economics and finance the university of hong kong cheng chen hku econ21022220. This is a collection of lecture notes that i have used over a number of years teaching advanced. Firms and consumers and how their behaviors determine price and quantities in specific markets.
Summary notes for final exam covering all course material summary australian business law business law notes summary principles of macroeconomics macroeconomics notes summary principles of macroeconomics n. Please take note that although succinct notes are essential towards your revision, they should not be the only materials you cover working through practice. While doing so, it is imperative to provide them opportunities to acquire analytical. Macroeconomics revision notes are all you need to prepare for your exam. Macroeconomics lecture notes l2 measuring macroeconomic variables. References in the notes refer to articles given on the reading list. Lecture notes for macroeconomics i, 2004 yale economic. Weve made the notes available for helping the students. This is an open online course, including text, interactive graphs, assignments and discussion topics, video clips, and interactive questions, based on the openstax principles of economics textbook and refined after testing in some us universities and community colleges in 2017. These notes offer a summary of the whole macroeconomics term. We provide cbse class 12 economics chapter wise notes pdf download, which helps you to study the notes offline. What is the difference between microeconomics and macroeconomics. The lectures will very closely follow my lecture notes.
Microeconomics microeconomics is the study of decisions that people and businesses make regarding the allocation of resources and prices of goods and services. We also recommend you work through some of the as macro revision videos on the entry below. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. In macroeconomics, the term investment is reserved for purchases by firms of capital machines, buildings, etc and purchases by households of some durable goods such as housing. Intermediate macroeconomics university of notre dame. This latter type of transaction gets categorized as savings, not investment. Macroeconomics notes 3 money income illustration from the above diagram if the money income received by households from the firms is all returned back to the firms in form of expenditure, on goods produced by the firms and. Online text and notes in principles of macroeconomics. Unemployment interacts with the rest of the macroeconomy in often predictable and sometimes unpredictable ways. Well motivate our study with examples from the us mostly in class and canada mostly in the textbook. Intermediate macroeconomics page 10 of 12 policy effectiveness and the slope of the lm schedule o the slope of the is depends on the money demandinterest rate elasticity. School of economics and finance the university of hong kong. Definition, measurement problems and estimate with diagram. Download ncert text books and cbse books for economics.
Macroeconomics considers the aggregate performance of all markets in the market system and is concerned with the choices made by the large subsectors of the economythe household sector, which includes all consumers. Therefore, in this part, the main question we want to answer is how does the interaction of demand and supply. In other words, the total income of a society is the value of what it produces. Find materials for this course in the pages linked along the left. With few exceptions, the articles are also summarized in romer or blanchard and fischer. Romer, which should be familiar and blanchard and fischer. Hansen 2000, 20201 university of wisconsin department of economics this revision. Unemployment principles of economics, 8th edition n. This section provides the schedule of lecture topics along with lecture notes for each topic. Mankiws macroeconomics is popular, widely adopted and well known for clearly communicating the principles of macroeconomics in a concise and accessible way. Weve made the notes available for helping the students prepare for their examinations in an effective way. Notes for a course in development economics debraj ray version 3. Macroeconomics greek makro big describes and explains economic processes that concern aggregates. Chapter 2 national income university of washington.
The subtopics for each lecture are related to the chapters in the textbook. February, 2020 comments welcome 1this manuscript may be printed and reproduced for individual or instructional use, but may not be printed for commercial purposes. As economic life and the economy go through changes, the need to ground education in childrens own experience becomes essential. Why do prices rise rapidly in some periods and remain stable in others. Basic books obstfeld, maurice and kenneth rogoff 1996 foundations of international macroeconomics, chapter 4, pp. With more than 2,200 courses available, ocw is delivering on the promise of open sharing of knowledge. Lecture notes in macroeconomics university of houston.
This introductory course to advanced macroeconomics along with econometrics and advanced microeconomics forms the core trinity of compulsory disciplines that provide a theoretical background for the masters program in economics at the hse faculty of economics. The difference between macroeconomics and microeconomics macroeconomics includes those concepts that deal with the entire economy or large components of the economy or the world. Students can ask their queries about macroeconomics notes class 12 or any other. Intermediate macroeconomics chapter 1 lecture 1 introduction and course overview this video is one of a series of lectures created by dr. These lecture notes were prepared by xingze wang, yinghsuan lin, and frederick jao specifically for mit opencourseware.
Why is average income high in some countries and low in others. It is thus not necessary to read all or even most of the articles on the list. Recognizing that a course in economics may seem daunting to some students, we have tried to make the writing clear and engaging. Gregory mankiw page 3 against the adverse effect of the activities. Summary notes for final exam covering all course material summary australian business law business law notes summary principles of macroeconomics macroeconomics notes summary macroeconomics n. An aggregate is a multitude of economic subjects that share some common features. Mar 10, 2020 comprehensive revision notes and model essays on macroeconomics. National income of a country means the sum total of incomes earned by the citizens of that country during a given period, say a year. Students considering macroeconomics as a field are strongly. Comprehensive revision notes and model essays on macroeconomics. The sixth edition maintains the core features that have. The lecture notes shown below are from the one of the discussion sections for the course.
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