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ECON 222 (8)
Lecture 1

ECON 222 Lecture 1: ECON222 Lecture 1 Notes
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Department
Economics
Course
ECON 222
Professor
Mike Kennedy
Semester
Winter

Description
ECON 222 9/1/17 Lecture 1 Notes: • Macro needs good micro foundations • Empirical in nature • (Ex) What determines a nations LR economic growth? • Robert Gordon – the rise and fall of US growth • To increase total output increase the population • Recession is measured from last peak to the bottom of the trough • Recovery can vary in time • Recessions are usually accompanied by rising unemployment • Unemployment rate = Unemployed/ Labor force • Labor Force = Total Employed + Unemployed • Labor Force x Source Population • Unaccounted for are discoura
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