Principles of Macroeconomics • Two formats: – Lecture/Rec: Ricardo Caballero, M-W 1; Re F – All-section: M-W-F (synchronized) • Three short tests (no exam) • 6 Problem sets (marginal)Macroeconomics? • Micro-economics: – individual markets – effects are limited to that market • Macro-economics: – aggregate: sum of markets plus cross effects • GDP, U, Inflation – Too complex => Take shortcuts => Art • Ambitious! Too much? Not at this levelStyle • Basic structure (book) + current events • Level: Read and find mistakes in “technical” news – Discuss news frequently“In the News” (Bloomberg 09/05) - S&P 500 Gains for a Fourth Week, Longest Streak Since January - U.S. 10-Year Treasury Has Biggest Weekly Drop in 6 on Job Gains - Dollar Has Biggest Weekly Gain in Five Versus Yen on Job Growth - Asian Currencies Have Weekly Gains as Investors Buy More Stocks - South Korean Business Confidence Rises; First Gain in 4 Months - Japan's Bonds Have Weekly Gain on Expectations Growth Will Slow - European Bonds Drop in Week as Economic Growth Outlook Improves - German Stocks Advance After U.S. Adds Most Jobs in 3 Months - Brazil Economy Has `Solid' Growth, IMF's de Rato SaysA Tour Around the World •US • Europe •Japan • Emerging economiesFigures/Tables-Chapter
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