Unit 4: Introduction to Macroeconomics
Objectives:
Optional Homework for Unit 4
Read pages 254-256; Answer section 1; Review on page 256 #'s 1-6
Read pages 257-263; Answer section 2; Review on page 263 #'s 1-6
- What is the difference between Macroeconomics and Microeconomics?
- What are the uses for macroeconomics and statistics?
- What is the difference between GNP and GDP?
- What are the two ways to calculate GDP?
- What is not included in GDP?
- What are some things GDP cannot tell us about a county?
- What is inflation?
- What are three ways to measure inflation?
- What is a COLA?
- What are the three types of economic indicators and what do each tell us?
- What are the different parts of the business cycle?
- What are some characteristics of each phase of the business cycle?
- What are the different types of unemployment?
- What is a recession?
- By looking at economic data be able to analyze where in a business cycle we are.
- By looking at economic data be able to predict where the economy is likely to be going. AND WHY.
- Be able to calculate current prices given a CPI and an original price.
- What is the Phillips Curve?
Optional Homework for Unit 4
Read pages 254-256; Answer section 1; Review on page 256 #'s 1-6
Read pages 257-263; Answer section 2; Review on page 263 #'s 1-6