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Principles of Macroeconomics
University of Maryland
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Browse the full collection of course materials, past exams, study guides and class notes for ECON 201 - Principles of Macroeconomics at University of Maryland verified by our …

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John Neri

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Class Notes

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ECON 201 Lecture 1: Introduction

Required items for this class: principles of macroeconomics by parkin, 13th edition,pearson, myeconlab for parkin for graded homework assignments and p

ECON 201 Lecture Notes - Lecture 2: Annual Percentage Rate, Aggregate Demand, Government Budget Balance

Graph showing decline and subsequent rise in gdp following the bailout (from the professor). Here is the graph of gdp per quarter from the end of gw bu

ECON 201 Lecture Notes - Lecture 4: Income Approach, Discouraged Worker, Business Cycle

Gdp data is compiled by the bureau of economic analysis. In every transaction, one person"s expenditure is another person"s income. Gdp is measured as

ECON 201 Lecture Notes - Lecture 5: Hyperinflation, Gdp Deflator, Core Inflation

The price value is the average level of prices in the economy. Why are we interested in this price level: we want to measure the inflation or deflation

ECON 201 Lecture Notes - Lecture 6: Production Function, Real Wages, Potential Output

In this lecture, we will do four things. Shows global gdp growth from 2010 to 2013 (from neri, 1) Gdp of wealthy vs poor countries (neri, 2) Real gdp c

ECON 201 Lecture Notes - Lecture 7: Physical Capital, Financial Capital, Financial Institution

Physical capital are goods produced in the past and are used today to produce goods and services. Financial capital are funds used by firms to buy phys

ECON 201 Lecture Notes - Lecture 8: Disposable And Discretionary Income, Nominal Interest Rate, Loanable Funds

The interest rate in the context of loanable markets is the real interest rate. We use a term called the nominal interest rate to describe the number o

ECON 201 Lecture Notes - Lecture 9: Fixed Price, Consumption Function, Disposable And Discretionary Income

Econ201 lecture 9: basic keynesian model, expenditures, tax models. Aggregate expenditure is determined when price level is fixed. How real gdp is dete

ECON 201 Lecture 10: Keynesian Economics, Tax multipliers (Part 2)

Econ201 lecture 10: keynesian economics, tax multipliers (part 2) Planned aggregate expenditure is planned consumption (c) plus planned investment (i)

ECON 201 Lecture Notes - Lecture 11: Fiscal Multiplier

When autonomous spending changes, the equilibrium level of real gdp changes. But the change in real gdp equilibrium level is larger than the change in

ECON 201 Lecture Notes - Lecture 13: Economic Equilibrium

ECON 201 Lecture Notes - Lecture 14: Fiscal Multiplier

Econ201 lecture 14: last part of tax multipliers. This represents the multiple by which gdp increases or decreases in response to an increase or decrea

ECON 201 Lecture Notes - Lecture 15: Barter, Open Market Operation, Federal Open Market Committee

Econ201 lecture 15: money, price level, inflation (part 1) Describe the structure and function of the federal reserve. Explain how the banking system c

ECON 201 Lecture Notes - Lecture 16: Aggregate Supply, Aggregate Demand, Potential Output

ECON 201 Lecture Notes - Lecture 17: Nominal Interest Rate, Financial Innovation, Real Interest Rate

Econ201 lecture 17: money, price level, inflation (part 2) How much money people want to hold depends on: Nominal money is the amount of money measured

ECON 201 Lecture Notes - Lecture 18: Aggregate Supply, Equilibrium Point, Potential Output

Econ201 lecture 18: aggregate supply and demand (part 2) The figure shows sr equilibrium where ad=sas (short run aggregate supply) (neri 1) At price le

ECON 201 Lecture Notes - Lecture 19: Aggregate Supply, Aggregate Demand, Potential Output

Econ201 lecture 19: aggregate supply & demand (part 3) The business cycle occurs because aggregate demand and short-run aggregate supply fluctuate.

ECON 201 Lecture Notes - Lecture 20: John Stuart Mill, Monetarism, New Keynesian Economics

Econ201 lecture 20: aggregate supply & demand (part 4) The effects of a rise in the price of oil-a negative or adverse supply shock. Real gdp decre

ECON 201 Lecture Notes - Lecture 21: Deflation, Monetary Policy, Durable Good

Econ201 lecture 21: the business cycle, government policy, inflation and. Explain how ad and and as forces cycles in inflation and deflation. Describe

ECON 201 Lecture Notes - Lecture 22: Phillips Curve, Deflation, Edmund Phelps

Econ201 lecture 22: the business cycle, government policy, inflation, deflation (part 2) Phillips curve shows the relationship between inflation rate a

ECON 201 Lecture Notes - Lecture 24: Deflation, Tax Wedge, Potential Output

Recent history of outlays, receipts, deficits, and debt. Explain supply-side effects of fiscal policy-aka supply-side economics. Explain how fiscal pol

ECON 201 Lecture Notes - Lecture 25: Nominal Interest Rate, Loanable Funds, Fiscal Imbalance

Econ201 lecture 25: fiscal policy, government spending, tax policy (part 2) A tax on interest income lowers the quantity of saving and investment and s

ECON 201 Lecture Notes - Lecture 27: Core Inflation, Business Cycle, Output Gap

Objectives of monetary policy and the framework for setting and achieving them. How the reserve makes a interest rate decision and achieves its interes

ECON 201 Lecture Notes - Lecture 28: Federal Funds Rate, Monetary Base, Demand Curve

The monetary policy instrument is a variable that the fed can directly control and closely target. There are two possible policy instruments: monetary

ECON 201 Lecture Notes - Lecture 29: Federal Funds Rate, Phillips Curve, Output Gap

The decision to change the target federal funds rate begins with an assessment of the current state of the economy. Three key variables: inflation gap-

ECON 201 Lecture Notes - Lecture 30: Import Quota, Electric Car, International Trade

Import quota: a governmental restriction on the quantities of a particular commodity that may be imported within a specific period of time, usually wit