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Class Notes for ECO102H1 at University of Toronto St. George (UTSG)

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UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture Notes - Lecture 12: Classical Economics, Capital Outflow, Money Supply

OC25673364 Page
1 Apr 2019
0
P y = v m. How many times on average each 1 dollar changes hands in a period. Everything has enough time to make all necessary adjustments. In the long
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UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture Notes - Lecture 13: Phillips Curve, Monetary Policy, Money Supply

OC25673363 Page
1 Apr 2019
0
Fiscal and monetary policy can change ad. Each sr phillips curve corresponds to a particular sras when we shift the ad around. Since the shift in ad, c
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UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Study Guide - Final Guide: Fiscal Policy, Aggregate Supply, Aggregate Demand

OC256733621 Page
2 Apr 2019
0
Topics included (separation according to class: gdp & cpi/ unemployment & inflation, economic growth/ savings & investment/ income & Expenditure: aggre
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UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture Notes - Lecture 11: Commercial Bank, Reserve Requirement, Profit Margin

OC25673365 Page
21 Mar 2019
0
Desire to reserve ratio of 10: keep reserves because the depositors may want to withdraw their money, assets i. Reserves will be : withdrawals, atm cas
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UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture Notes - Lecture 10: Excess Reserves, Fiat Money, Unemployment

OC25673365 Page
12 Mar 2019
0
In recession, income and taxes drop, while transfer payments will go up. T goes down and transfer goes up. But it is more likely to run a deficit. If y
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UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Study Guide - Midterm Guide: Loanable Funds, Autarky, Parsec

OC256733613 Page
8 Mar 2019
0
A= the least amount needed to survive (consumption) This chapter we learned how savings is equal to investment. S = y t + t c g. If t>tr + g, budget su
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UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture Notes - Lecture 9: Fiscal Policy, Stagflation, Government Budget Balance

OC25673363 Page
8 Mar 2019
0
Last lecture adjustment will eventually reach to yf again. All workers will get the work back. Normally 2 years for a contract, a lot of time. Governme
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UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture Notes - Lecture 8: Autarky, Open Economy, Autonomous Consumption

OC25673367 Page
26 Feb 2019
0
Every round of income expansion, there is a money not spend back on domestic output. In general the format of the multiplier is . If y= c + i + g + nx
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UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture Notes - Lecture 7: Disposable And Discretionary Income, Consumption Function, Redistribution Of Income And Wealth

OC25673367 Page
21 Feb 2019
0
The bigger the mpc the larger multiplier. As income goes up, disposable income goes up in every round there will be a larger increase in consumption. I
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UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture Notes - Lecture 6: Parsec

OC25673365 Page
13 Feb 2019
0
A= the least amount needed to survive (consumption) Because t-tr are given ,the change in gdp comes from change in income. Y: c mp c x y d. Average pro
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UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture 5: Chapter 10 Part 2

OC25673366 Page
5 Feb 2019
0
S = y t + t c. We know that government savings is equal to their fiscal budget position and can be defined as. If t>tr + g, budget surplus positive sav
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UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture Notes - Lecture 4: Government Spending, Autarky, Human Capital

OC25673365 Page
4 Feb 2019
0
Increase in human capital and physical capital. The savings-investment spending identity dictates that savings and investment are always equal for the
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UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture Notes - Lecture 3: Fallacy, Free Trade, Physical Capital

OC25673367 Page
22 Jan 2019
0
1: same amount of inputs, but more output, squeezing all you can from the inputs c. Increase in efficiency to handle inputs: may be due to technologica
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UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture Notes - Lecture 2: Employment-To-Population Ratio, Real Wages, Disinflation

OC25673367 Page
18 Jan 2019
0
A + b not in the labour force. C + d compose the labour force. Are actively working or looking for a job. The labour force participation rate increased
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UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture 1: & Texbook: Chapter 6&7

OC25673366 Page
16 Jan 2019
0
New ideas founded by keynes after the powerful negative consequences of the great depression in the economy. Recessions and slow economic growths are m
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UTSGECO102H1Robert GazzaleWinter

ECO102H1 Lecture Notes - Lecture 26: Fractional-Reserve Banking, Bank Reserves, Reserve Requirement

OC26418685 Page
6 Mar 2019
0
Goodthing i available to pay back depositors who withdrawa. Bad thing earns low interest rate target reserve ratio. Fractional a 2 equilibria reserve b
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UTSGECO102H1Robert GazzaleWinter

ECO102H1 Lecture Notes - Lecture 25: Xm Satellite Radio, Money Supply, Reserve Requirement

OC26418683 Page
4 Mar 2019
0
Long run assume no change in what purchase with. It g x m y y permanent g. Cct it ust t f infrastructure s affect long term growth may y services ie ha
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UTSGECO102H1Robert GazzaleWinter

ECO102H1 Lecture Notes - Lecture 23: Parsec

OC26418683 Page
27 Feb 2019
0
Fiscal policy part 2 automaticstabilizer progressive taxi put moredisposable income into people"s pocket during recessions yd t t t s multiplier effect
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UTSGECO102H1Robert GazzaleWinter

ECO102H1 Lecture 22: ECO102 - LEC22 - fiscal policy part 1

OC26418683 Page
25 Feb 2019
0
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UTSGECO102H1Robert GazzaleWinter

ECO102H1 Lecture Notes - Lecture 16: Farad, Keynesian Economics, Aggregate Supply

OC26418684 Page
19 Feb 2019
0
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UTSGECO102H1Robert GazzaleWinter

ECO102H1 Lecture 17: ECO102 - LEC17 - Aggregate Supply & Demand Part 2

OC26418684 Page
13 Feb 2019
0
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UTSGECO102H1Robert GazzaleWinter

ECO102H1 Lecture Notes - Lecture 14: Parsec

OC26418685 Page
6 Feb 2019
0
C 30 t f yd yd y i no taxes no government transfer. 105 yeq yeq yeq yeq 105. Pt t cy yd y wngov"t mo. Tslope yeq denominator smaller ly slop. ly . Pt y
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UTSGECO102H1Robert GazzaleWinter

ECO102H1 Lecture Notes - Lecture 13: Parsec, Dae Dae, Pessimism

OC26418684 Page
4 Feb 2019
0
Potential gdp y all factor production employed at normal utilization levels. I natural unemployment y y inflationarygap expansion low unemployment high
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UTSGECO102H1Robert GazzaleWinter

ECO102H1 Lecture 11: ECO102 - LEC11 - Financial System Part 2

OC26418683 Page
30 Jan 2019
0
Futurevalue fv: abond the amount to be repaid fixed including default risk the amount received today depends on nominal interest rate generally high li
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UTSGECO102H1Robert GazzaleWinter

ECO102H1 Lecture Notes - Lecture 10: Tibet, Loanable Funds, Vestment

OC26418685 Page
29 Jan 2019
0
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UTSGECO102H1Robert GazzaleWinter

ECO102H1 Lecture Notes - Lecture 8: Production Function, Workforce Productivity, Human Capital

OC26418683 Page
24 Jan 2019
0
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UTSGECO102H1William G. WolfsonWinter

ECO102H1 Lecture 3: ECO102 Lec03

OC25138324 Page
23 Jan 2019
0
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UTSGECO102H1Robert GazzaleWinter

ECO102H1 Lecture 7: ECO102- LEC7- Long Run GDP Growth

OC26418683 Page
22 Jan 2019
0
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UTSGECO102H1Robert GazzaleWinter

ECO102H1 Lecture 5: ECO102-LEC5-CPI&Inflation

OC26418684 Page
17 Jan 2019
0
If the cpi meas. me inflation rate will overstate the increase in the cost of. 600 for quality living increase in price quality improved while. Price r
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UTSGECO102H1William G. WolfsonWinter

ECO102H1 Lecture 2: ECO102 Lec02

OC25138324 Page
16 Jan 2019
0
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UTSGECO102H1Robert GazzaleWinter

ECO102H1 Lecture Notes - Lecture 4: Structural Unemployment

OC26418684 Page
14 Jan 2019
0
Problems with gdp as a measure of wealth created. Ignore the cost of aeating gdp resource depletion environmental degradation leisure and quality of li
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UTSGECO102H1William G. WolfsonWinter

ECO102H1 Lecture 1: ECO102 Lec01

OC25138323 Page
7 Jan 2019
0
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UTSGECO102H1zzzzzzzzzFall

ECO102H1 Lecture Notes - Lecture 19: Marginal Revenue, Profit Maximization, Perfect Competition

OC5374884 Page
19 Nov 2015
59
Eco100y1 lecture 19 topic 9: firms in competitive markets ii (picking up from last class"s points, elaborating on them ) Remember: revenue = p q (examp
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UTSGECO102H1zzzzzzzzzFall

ECO102H1 Lecture Notes - Lecture 18: Imperfect Competition, Marginal Revenue, Perfect Competition

OC5374885 Page
17 Nov 2015
46
Eco100y1 lecture 18 firms in competitive markets i. There are 4 types of markets, this (a competitive market) is an extreme case. Because of points 1 a
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UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture Notes - Lecture 12: Classical Economics, Capital Outflow, Money Supply

OC25673364 Page
1 Apr 2019
0
P y = v m. How many times on average each 1 dollar changes hands in a period. Everything has enough time to make all necessary adjustments. In the long
View Document
UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture Notes - Lecture 10: Excess Reserves, Fiat Money, Unemployment

OC25673365 Page
12 Mar 2019
0
In recession, income and taxes drop, while transfer payments will go up. T goes down and transfer goes up. But it is more likely to run a deficit. If y
View Document
UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture Notes - Lecture 3: Fallacy, Free Trade, Physical Capital

OC25673367 Page
22 Jan 2019
0
1: same amount of inputs, but more output, squeezing all you can from the inputs c. Increase in efficiency to handle inputs: may be due to technologica
View Document
UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture 5: Chapter 10 Part 2

OC25673366 Page
5 Feb 2019
0
S = y t + t c. We know that government savings is equal to their fiscal budget position and can be defined as. If t>tr + g, budget surplus positive sav
View Document
UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture Notes - Lecture 11: Commercial Bank, Reserve Requirement, Profit Margin

OC25673365 Page
21 Mar 2019
0
Desire to reserve ratio of 10: keep reserves because the depositors may want to withdraw their money, assets i. Reserves will be : withdrawals, atm cas
View Document
UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture Notes - Lecture 9: Fiscal Policy, Stagflation, Government Budget Balance

OC25673363 Page
8 Mar 2019
0
Last lecture adjustment will eventually reach to yf again. All workers will get the work back. Normally 2 years for a contract, a lot of time. Governme
View Document
UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture Notes - Lecture 7: Disposable And Discretionary Income, Consumption Function, Redistribution Of Income And Wealth

OC25673367 Page
21 Feb 2019
0
The bigger the mpc the larger multiplier. As income goes up, disposable income goes up in every round there will be a larger increase in consumption. I
View Document
UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture Notes - Lecture 6: Parsec

OC25673365 Page
13 Feb 2019
0
A= the least amount needed to survive (consumption) Because t-tr are given ,the change in gdp comes from change in income. Y: c mp c x y d. Average pro
View Document
UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture 1: & Texbook: Chapter 6&7

OC25673366 Page
16 Jan 2019
0
New ideas founded by keynes after the powerful negative consequences of the great depression in the economy. Recessions and slow economic growths are m
View Document
UTSGECO102H1Ho Cheung (Michael) HoWinter

ECO102H1 Lecture Notes - Lecture 13: Phillips Curve, Monetary Policy, Money Supply

OC25673363 Page
1 Apr 2019
0
Fiscal and monetary policy can change ad. Each sr phillips curve corresponds to a particular sras when we shift the ad around. Since the shift in ad, c
View Document
UTSGECO102H1zzzzzzzzzFall

ECO102H1 Lecture Notes - Lecture 18: Imperfect Competition, Marginal Revenue, Perfect Competition

OC5374885 Page
17 Nov 2015
46
Eco100y1 lecture 18 firms in competitive markets i. There are 4 types of markets, this (a competitive market) is an extreme case. Because of points 1 a
View Document
UTSGECO102H1zzzzzzzzzFall

ECO102H1 Lecture Notes - Lecture 19: Marginal Revenue, Profit Maximization, Perfect Competition

OC5374884 Page
19 Nov 2015
59
Eco100y1 lecture 19 topic 9: firms in competitive markets ii (picking up from last class"s points, elaborating on them ) Remember: revenue = p q (examp
View Document
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