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Class Notes (1,032,767)
AUS (35,063)
UniMelb (5,189)
ECON10003 (54)

Class Notes for ECON10003 at University of Melbourne

Introductory Macroeconomics

ECON10003 Lecture Notes - Lecture 19: Kuznets Curve, Comparative Advantage, Protectionism

Lectures 19 20 Readings: o Chapter 14.3, 15.1 15.4 of Bernanke, Olekalns Frank ********************************************************************************** o Winners of free trade: consumers of imported goods, prod...

Economics
ECON10003
Nahid Khan, Lawrence Uren
ECON10003 Lecture Notes - Lecture 13: Output Gap, Potential Output, Real Interest Rate

Lectures 13 14 Readings: o Chapter 9 of Bernanke, Olekalns Frank (pgs. 211 231) ********************************************************************************** o ADs downward slope captures the inverse relationship be...

Economics
ECON10003
Nahid Khan, Lawrence Uren
ECON10003 Lecture Notes - Lecture 11: Monetary Policy, Overnight Rate, Output Gap

Lectures 11 12 Readings: o Chapters 8 9 of Bernanke, Olekalns Frank (pgs. 194 207, 211 231) o RBA Speech Operations in Financial Markets (Lec 11) o Monetary Policy Regimes: Past and Future (Lec 11) *********************...

Economics
ECON10003
Nahid Khan, Lawrence Uren
ECON10003 Lecture Notes - Lecture 9: Output Gap, Transfer Payment, Fiscal Policy

Lecture 9 10 Readings: o Chapter 6 7 of Bernanke, Olekalns Frank (pgs. 160 178 178 194) ********************************************************************************** o Change in PAE key reason for creation of shor...

Economics
ECON10003
Nahid Khan, Lawrence Uren
ECON10003 Lecture Notes - Lecture 7: Menu Cost, Unemployment, Output Gap

Lecture 7 & 8 Readings: o Chapter 5 of Bernanke, Olekalns & Frank (pgs. 135 160) ********************************************************************************** o In the short-term, the rate of aggregate...

Economics
ECON10003
Nahid Khan, Lawrence Uren
ECON10003 Lecture Notes - Lecture 5: Real Wages, Demand Curve, Reservation Price

Lecture 5 Readings: o Chapter 3 of Bernanke, Olekalns & Frank o Supplementary: ABS Labour Force release Lecture 6 Readings: o Chapter 4 of Bernanke, Olekalns & Frank ************************************...

Economics
ECON10003
Nahid Khan, Lawrence Uren
ECON10003 Lecture Notes - Lecture 3: Relative Price, Deflation, Nominal Interest Rate

Lecture 3 Readings: o Chapter 1.4 of Bernanke, Olekalns & Frank o Supplementary: ABS CPI release Lecture 4 Readings: o Chapter 2 of Bernanke, Olekalns & Frank *******************************************...

Economics
ECON10003
Nahid Khan, Lawrence Uren
ECON10003 Lecture Notes - Lecture 7: Real Wages, Aggregate Demand, Output Gap
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Introductory Macroeconomics Week 7 LECRTURE 13: AGGREGATE SUPPLY AS Curve map out set of points (Y, ) where firms production decisions consistent with price changes What determines price changes at firms? 1. Firms ...

Economics
ECON10003
Lawrence
ECON10003 Lecture Notes - Lecture 4: Exogeny, Menu Cost, Real Interest Rate
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Introductory Macroeconomics Wk. 4 READING: CHAPTER 5 SPENDING AND OUTPUT IN THE SHORT RUN 5.1 An Introduction to the Keynesian Model Key idea of Keynes: decline in aggregate spending may cause output to fall below ...

Economics
ECON10003
Lawrence
ECON10003 Lecture Notes - Lecture 6: Monetary Policy, Equilibrium Point, Money Supply
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Introductory Macroeconomics Wk. 6 CHAPTER 8: THE RESERVE BANK AND THE ECONOMY 8.1 The Reserve Bank, Interest Rate and Monetary Policy Reserve Bank targets interest rate in overnight cash market to conduct monetary ...

Economics
ECON10003
Lawrence
ECON10003 Lecture Notes - Lecture 2: Real Interest Rate, Nominal Interest Rate, Fisher Equation
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Introductory Macroeconomics Week 2 LECTURE 3 WHY DO WE CARE ABOUT INFLATION? Inflation has costs upon economy when high Provides info about performance of economy Key macro models will try and expla...

Economics
ECON10003
Lawrence
ECON10003 Lecture Notes - Lecture 8: Physical Capital, Capital Accumulation, Total Factor Productivity
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Introductory Macroeconomics Week 8 CHAPTER 11: THE ECONOMY IN THE LONG RUN 11.1 Introduction to Economic Growth Quality and availability of goods and services have changed a lot o Eg. newer better medici...

Economics
ECON10003
Lawrence
ECON10003 Lecture Notes - Lecture 9: Total Factor Productivity, Growth Accounting, Poverty Trap
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Introductory Macroeconomics Week 9 LECTURE 17: EMPIRICS OF ECONOMIC GROWTH Convergence Hypothesis Basic idea countries converge to a steady state if: Two countries approach the same steady state but one is initially poor a...

Economics
ECON10003
Lawrence
ECON10003 Lecture 5: Macro Wk. 5
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Introductory Macroeconomics Wk. 5 CHAPTER 6: FISCAL POLICY 6.1 GOVERNMENT PURCHASES AND PLANNED SPENDING Decisions about government spending represent one of two main components of fiscal policy Other: decisions about taxe...

Economics
ECON10003
Lawrence
ECON10003 Lecture Notes - Lecture 1: Gross Domestic Product, Gross National Income, National Accounts
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Introductory Macroeconomics Week 1 Economics as a science Advances in 20 century Advances in Macroeconomics built upon improvements in measuring state of economy Empirical observation theories validationrejection of theory...

Economics
ECON10003
Lawrence
Permachart - Marketing Reference Guide: Net Asset Value, Mutual Fund, U.S. Securities And Exchange Commission

l e a r n • r e f e r e n c e • r e v i e w permacharts TM Mutual Funds WHAT IS A MUTUAL FUND? PURCHASING & REDEE...

Biology
BIOL2721
All Professors
Macroeconomics - Reference Guides

Take a look at the big picture. This chart covers national income accounting, inflation, consumption, economic growth, money supply, labor markets, monetary policy, international trade, supply side economics, and fiscal po...

Business and Political Economy Program
BPEP-UB 2
All Professors
Permachart - Marketing Reference Guide: Marginal Revenue, Profit Maximization, Marginal Cost

l e a r n • r e f e r e n c e • r e v i e w permacharts TM Microeconomics Microeconomics TYPES OF MARKETS ...

E-Business Marketing
ECN 102
All Professors
Permachart - Marketing Reference Guide: National Environmental Policy Act, Municipal Solid Waste, Criteria Air Contaminants

l e a r n • r e f e r e n c e • r e v i e w permacharts TM EEnvironmental Law ENVIRONMENTAL REGULATION NATIONAL ENVIRONMENTAL POL...

LAW
LAW 356
All Professors

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