Here are two interesting websites you might find interesting:
Meta
Interesting Budget Links
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Correct Answers on the First Exam
- e
- c
- d
- d
- c
- a
- a
- b
- b
- a
- a
- c
- e
- a
- d
- d
- c
- e
- b
- a
- a
- b
- b
- b
- c
- b
- a
- b
- d
- d
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Reading for this Week
Please read the Radford article, “The Economic Organization of a P.O.W. Camp” for class this coming week. You can find the article under the tab marked “Readings” above.
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Welcome!
Welcome to ECON 201, Principles of Macroeconomics!
Please enable Javascript and Flash to view this Flash video.
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Exercise
To practice your understanding of how market economies allocate resources, read this recent
article from the Wall Street Journal and try to graph what’s begin described. You should include
the market for automobiles, the market for healthcare, and a production possibilities curve.
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U.S. Federal, State & Local Government Budgets
One way to assess the role of government in the economy is to look at the size and composition of the government budget. This information is available in the Economic Report of the President.
Please review the following two spreadsheets to identify the major spending categories and the major revenue sources for the U.S. government at the Federal and at the State & Local levels.
Table B-81 Federal Receipts, Outlays, Surplus or Deficit, and Debt
Table B-86 State and Local Government Revenues and Expenditures
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Third Formal Homework Assignment
A perennial question of concern is the state of the economy, that is, whether current economic conditions are good or not. To answer that question, go online to the 2007 Economic Report of the President. Find and download annual data for the U.S. economy for the period 1970-2006 for three variables:
· the inflation rate,
· the unemployment rate, and
· the growth rate of real GDP.
(Note: You will have some decisions to make about which versions of these variables to select.)
Put the data in a table and examine it to answer the following questions:
· In which decade (1970s, 1980s or 1990s) was inflation highest and lowest?
· In which decade was unemployment highest and lowest?
· In which decade was economic growth highest and lowest?
How do economic conditions in the first decade of the 2000s compare with the three previous decades? Specific conclusions are better than general ones: overall better, worse or about the same.
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Deposit Expansion Multiplier Process
Here is deposit-expansion-multiplier-process I promised. Let me know if you find any errors.
- SG
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Second Formal Homework Assignment
This is the second formal homework assignment you will do this semester, though it’s not due until near the end of the semester.
Economics is both an area of study (which overlaps with the other social sciences), and a methodology. It’s really the methodology, or Economic Way of Thinking, that differentiates economics from the other social sciences.
Write a brief essay, in your own words, to explain this Economic Way of Thinking. Your essay should include a clear, summary statement explaining how an economist goes about analyzing an issue or problem. It should also discuss the assumptions commonly used by this approach.
When we discussed the EWOT in class, we identified a half dozen characteristics. Your essay should discuss each characteristic, and identify an example of each from the course, either from the readings or the course sessions to illustrate the characteristic and show your understanding of it.
Your essay should be between one and five double-spaced pages in length with reasonable margins and font size. The essay should be turned in no later than November 30.
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Protected: Fourth Formal Homework Assignment: What is money?
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