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ECON1132 (63)

Class Notes for ECON1132 at Boston College

Principles of Economics II/Macroeconomics

Exam Study Guides for ECON1132

Covers all exam topics.

ECON1132 Lecture Notes - Lecture 16: Foreign Portfolio Investment, Capital Outflow, Open Economy
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Chapter 18 p.1 How are international flows of goods and assets related Whats the difference between the real and nominal exchange rate What is purchasing-power parity? How does it explain nominal exchan...

Economics
ECON1132
Michael Conolly
ECON1132 Lecture Notes - Lecture 15: Underconsumption, Market Power, Economic Surplus
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A country has a comparative advantage when they can produce it at a lower cost than other countries Countries can gain from trade The Determinants of Trade: Only domestic buyers and sellers Total benefits of ...

Economics
ECON1132
Michael Conolly
ECON1132 Lecture Notes - Lecture 14: Comparative Advantage, Opportunity Cost, Japa
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Why Trade Makes Countries Better off: Interdependence People rely on different products from all over the world for goods and services Trade can make everyone better off Goods can be mad...

Economics
ECON1132
Michael Conolly
ECON1132 Lecture Notes - Lecture 13: Nominal Interest Rate, Money Supply, Real Interest Rate
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Money Growth and Inflation How does the money supply affect inflation and nominal interest rates Does the money supply affect real variables like real GDp and or the real interest rate? How is inflation lik...

Economics
ECON1132
Michael Conolly
ECON1132 Lecture Notes - Lecture 13: Money Supply, Openmarket, Interest Rate
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The Waythe Fed canAffect the MoneySupply: Ms = C + D = MM * Res OpenMarket Operations (OMOs) The govt can purchase or sellgovt bonds bythe fed Openmarket purchase - helps fed ...

Economics
ECON1132
Michael Conolly
ECON1132 Lecture Notes - Lecture 12: Dual Mandate, Fractional-Reserve Banking, Money Market
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Important Questions: What is money? Types of money? Federal Reserve? Bank's Role? Money Supply Control? Money and its importance Without money: Need to barter ...

Economics
ECON1132
Michael Conolly
ECON1132 Lecture Notes - Lecture 11: Loanable Funds, Stock Market, Financial System
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Savings, Investment, and the Financial System: ● Firm’s Need for Finance: ○ Firm: wants to invest in capital goods to improve their business ■ Firms want to produce goods and services (Y) in...

Economics
ECON1132
Michael Conolly
ECON1132 Lecture Notes - Lecture 10: Foreign Portfolio Investment, Foreign Direct Investment, Diminishing Returns
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Ways public policy can affect long-run growth in productivity and living standards? Saving and Investment ● Raises future productivity ● You end up investing more in capital ○ I= investment = change i...

Economics
ECON1132
Michael Conolly
ECON1132 Lecture Notes - Lecture 9: Longrun, Human Capital
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Handout Info: Annual Percentage Change in the CPI: B. monthly growth rate from Jan ‘47-Feb ‘48 =100*CPI’2’47-CPI1’47/CPI 1’47 Price changes year to year matter more C. = CPIjan48 - CPIjan47 - for each month Incomes and...

Economics
ECON1132
Michael Conolly
ECON1132 Lecture Notes - Lecture 8: Market Power, Efficiency Wage, Unemployment
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Unemployment: Labor Force Stats: ● Produced by Bureau of Labor Stats in US Dept of Labor ● Based on survey of 60,000 ● Based on anyone 16yrs + ● 3 groups ○ Employed: paid employees, self employed, ...

Economics
ECON1132
Michael Conolly
ECON1132 Lecture Notes - Lecture 5: Interest Rate, Real Interest Rate, Gdp Deflator
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Contrasting CPI and GDP Deflator: ● Imported Consumer goods ○ Included in CPI ○ Excluded from GDP deflator (get offset) ○ Ie. Volvo increases price of a car from one year to the next ...

Economics
ECON1132
Michael Conolly
ECON1132 Lecture Notes - Lecture 6: Shortage, Cream Cheese, Demand Curve
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Supply and Demand: Market and Competition: ● Buyers are a group determine demand ● Sellers are a group determine supply ● Competitive Markets ○ Many buyers and sellers, negligible impact on market pric...

Economics
ECON1132
Michael Conolly
ECON1132 Lecture Notes - Lecture 2: Durable Good, Gdp Deflator
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What is GDP? ● The market value of all final goods and services produced within a country in a given period of time ○ Goods are valued at their market prices ■ All goods must be measu...

Economics
ECON1132
Michael Conolly
ECON1132 Lecture Notes - Lecture 4: Gdp Deflator, Deflation
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What is Consumer Price Index: ● Measure of the overall level of prices ● Measures overall cost of goods and services bought by a typical consumer ● Bureau of Labor Stats ● Inflation Rate: ○ Den...

Economics
ECON1132
Michael Conolly
ECON1132 Lecture Notes - Lecture 3: Gdp Deflator
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GDP Growth rate: ● =100*(GDPt-GDPt-1)/GDPt-1 GDP Deflator: ● Measure of overall level of prices ● 100 * GDPnt/GDPrt (nominal for year t) (real for year t) ● Measures level of prices relative to prices in base...

Economics
ECON1132
Michael Conolly
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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