ECON202 Chapter 1: Chapter 1 Econ 202 Notes Looking for notes in .doc form and not .ppt? This is what you're looking for. With diagrams and and pictures from the textbook as well as Vaughn's in-class notes, this is the perfect set of study notes
16 Oct 2011
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Macroeconomics focuses on the behaviour of key macroeconomic variables including: Real gdp a measure of aggregate output, income, and spending (under certain assumptions) Inflation rate a measure of how fast prices, in general, are rising. Unemployment rate the proportion of the labour force out of work. Exchange rate the cost of one currency in terms of anther. Interest rate the cost of borrowing and return to saving. Canadian historical data on real gdp (data showing american data) Data on real gdp for canada since 1900 reveal two patterns of variation over time: A long-run upward trend the result of long run economic growth [real gdp per capita is about 11 times higher now than in 1900] A sequence of short-run cyclical fluctuations around trend the result of the business cycle [in recession, such as 1981-2 and 1990-1, real gdp actually falls] Canadian historical data on the inflation rate (data showing american data)
