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Class Notes for Economics at Virginia Commonwealth University

Exam Study Guides for Economics Courses

Covers all exam topics.

ECON 211 Lecture Notes - Lecture 3: Frictional Unemployment, Structural Unemployment
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Chapter 28: Natural rate: average unemployment rate Cyclical Unemployment: year to year fluctuations in unemployment (total unemployment national rate= cyclical) Measuring Unemployment: 1. Employed (fullpart time or unpaid...

Economics
ECON 211
Hinchey
ECON 211 Lecture Notes - Lecture 5: Fisher Equation, Money Supply
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Lecture 2: INFLATION Inflation: increase in prices deflation: decrease in prices Inflation: increase in prices Value of money: the amount of goods that can be bought with 1 When price increases, value of money decreases Th...

Economics
ECON 211
Hinchey
ECON 211 Lecture Notes - Lecture 4: Fractional-Reserve Banking
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Chapter 29: Money is an asset that can be used to make payments. Wealth is not money. Money is a medium of exchange Unit of Account: any measure that people use to post prices Store of Value: anything that can be used to t...

Economics
ECON 211
Hinchey
ECON 211 Lecture Notes - Lecture 6: Nominal Interest Rate, Real Interest Rate, Gdp Deflator
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Chapter 30: If the price level is above the equilibrium level, people will want to hold more money than the Fed has created, so the price level must fall to balance supply and demand. If the price level is below the equili...

Economics
ECON 211
Hinchey
ECON 211 Lecture Notes - Lecture 7: Loanable Funds, Exchange Rate
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Chapter 31: net exports: the difference between the value of its exports and the value of its imports Trade Deficit: if net exports are negative Balanced Trade: If net exports are zero net capital outflow: the difference b...

Economics
ECON 211
Hinchey
ECON 211 Lecture Notes - Lecture 2: Mutual Fund, Negative Number, Autarky
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Chapter 26: Financial markets are the institutions through which a person who wants to save can directly supply funds to a person who wants to borrow. bond is a certificate of indebtedness that specifies the obligations of...

Economics
ECON 211
Hinchey
ECON 211 Lecture 1: Lecture 1
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Lecture 1: GDP Macro econ is the study of the structure of an economy GDP measures total income of everyone in an economy. Also measures total expenditure of everyone in an economy. Because every dollar spend becomes the i...

Economics
ECON 211
Hinchey
ECON 210 Lecture Notes - Lecture 7: Clayton Antitrust Act, Sherman Antitrust Act, Nash Equilibrium
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Chapter 1617: Oligopoly: a market structure in which only a few sellers offer similar or identical products. Monopolistic competition: many firms sell similar but not identical products. Concentration ratio: the percentage...

Economics
ECON 210
Chandra M Shrestha
ECON 210 Lecture Notes - Lecture 1: Opportunity Cost, Externality
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Chapter 1: Scarcity: limited nature of societys resources Economics: the study of how society manages its scarce resources Efficiency: when society gets the most from its scarce resources Equality: when prosperity is distr...

Economics
ECON 210
Chandra M Shrestha
ECON 210 Lecture Notes - Lecture 2: Opportunity Cost
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Chapter 2: Model: A simplified representation of a more complicated reality. (economists use models to study economic issues) CircularFlow Diagram: an economic model that shows how money flows through markets among househo...

Economics
ECON 210
Chandra M Shrestha
ECON 210 Lecture Notes - Lecture 4: Demand Curve
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Chapter 4: Perfectly Competitive: All goods are exactly the same. So many buyers and sellers that no individual can effect market price. Law of Demand: quantity demanded of a good falls when the price of the good rises Dem...

Economics
ECON 210
Chandra M Shrestha
ECON 210 Lecture Notes - Lecture 6: Price Discrimination
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Chapter 15: The main cause of monopolies are barriers that keep other firms from entering the market Reasons 1. A firm owns a key resource (diamond mines) 2. Gov. gives one firm the excluseive right (patent, copyright) 3. ...

Economics
ECON 210
Chandra M Shrestha
ECON 210 Lecture Notes - Lecture 5: Marginal Cost, Marginal Product, Production Function
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Chapter 5: Elasticity: Measures how much one variable responds to changes in another d s Elasticity is a numerical measure of the responsiveness of Q or Q to one of its determinants. Price elasticity is higher when close ...

Economics
ECON 210
Chandra M Shrestha
ECON 210 Lecture Notes - Lecture 3: Absolute Advantage, Comparative Advantage, Opportunity Cost
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Chapter 3: Interdependence and trade increase production possibilities. Trade allows countries to consume more than they produce. Absolute Advantage: The ability to produce a good with fewer inputs than another producer. E...

Economics
ECON 210
Chandra M Shrestha
ECON 205 Lecture Notes - Lecture 14: Monopsony, Marginal Revenue, Lorenz Curve
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ECON 205 001 Tuesday, December 5, 2017 Lecture 14: Final Review RED means important, GREEN means example. Read Chapter 16, 17 & 18 and study notes, dont forget prob...

Economics
ECON 205
Lacy
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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