Objectives:

1. TSW understand the reasoning/rationale for Macroeconomics.

2. TSW identify the 3 goals of every national economy.

 

Homework:

1. Read + Outline Chapter 23 in Mankiw (10 Points)

 

Objectives:

1. Define and answer how do we measure GDP?

2. How do you measure GDP from year to year? What is the percentage change is GDP formula? 

 

Homework:

None 

 

Objectives:

1. What are the two approaches to GDP?

2. GDP Practice Problems within the packet.

 

Homework:

1. 2007 FRQ Practice

 

Objectives:

1. Define Real vs. Nominal GDP

2. Define base year and how it is used in relation to how GDP is measured?

 

Homework:

None

 

Objectives: 

1. Man we talking about practice within our packet...

 

Homework:

None

 

Objectives:

1. 5 Examples of GDP through productivity.

2. Define GDP/Capita in relation to all of the nations of the world.

 

Homework:

None

 

Objectives:

1. Identify the 4 phases of the business cycle.

2. Identify the 3 responsibilities of the federal government back to Macro goals.

 

Homework:

None

 

Objectives:

1. Calculate GDP Growth Rate

2. Associate GDP Growth Rate with shifts/changes to the PPC Curve.

 

Homework:

None

 

Objectives:

1. Calculate the Gini Coefficient

2. Graph the area under the Lorenz curve in order to decide the equality of income distribution throughout a nation.

 

Homework:

None

 

Objectives:

1. Review for the Macro Unit 1: GDP + Business Cycle Test

 

Homework:

None

 

 

Unit I-12:  Goal #2: Full Employment

Objectives:

1. Define the following terms: unemployed, employed, labor force, unemployment rate

2. Determine how to calculate all of the above rates.

 

Homework:

1. Read Chapter 24...

 

Objectives:

1. Define and align the different types of unemployment such as frictional, structural, seasonal, and cyclical.

 

Homework:

1. None

 

Objectives:

1. How to calculate the NRU? What makes up this rate?

2. Define Okun's law.

3. Identify criticisms of the unemployment rate.

 

Homework:

1. None

 

Objectives:

1. Define long run and short run Phillips curves.

2. Evaluate the reasoning for the inverse relationship between unemployment and inflation.

3. Identify the 3 events possible to an economy. 

 

Homework:

1. 2006 Practice FRQ

 

1. Zimbabwe video and information.

2. Define inflation and identify how it is measured in the US?

 

Homework:

1. None

 

Objectives:

1. Relation of the CPI to the US economy

2. Identify the differences between the CPI and the Core CPI.

3. Learn how to calculate the CPI

4. What problems occur with the CPI

 

Homework:
1. None

 

Objectives:

1. Practice all of the above calculations...

 

Homework:

1. None

 

Objectives:

1. Define the 3 causes of inflation. 

2. Identify the quantity theory of money equation.

3. Explain the difference between demand pull and cost-push inflation.

 

Homework:

1. None

 

Objectives:

1. Define the difference between nominal and real interest rates. 

2. Calculate all of the above!

 

Homework:

1. None