Professional Documents
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Course Information
Tutorials
Start: Monday, 8th January 2018
TA:
Office:
Office Hours:
Email:
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Textbook
Ragan, Christopher
Macroeconomics, 15th Canadian Edition, 2017 Pearson
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MyEconLab
You must register with MyEconLab through
www.pearsonmylabs.com. This is where you will have
access to each of the quizzes.
Please note that you MUST have the 15th edition of the
pearson online component for this course. Any previous
edition will not allow you to register for the quiz
component.
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Course Evaluation
5 MyEconLab Quizzes 15% (3% each)
Date: 22 Jan, 5 Feb, 12 Mar, 26 Mar, 7 Apr
Format: Multiple choice, ≈15 questions
Duration: 1 hour
Midterm 35%
Coverage: Ch.19,20,21,22,23,24
Tentative Date and Time: Wed, Feb 14, 6:15-7:45pm
Depending on room availiability
Final 50%
Coverage: Cumulative
Date: TBA
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Quizzes
You are required to do online quizzes throughout the semester from
www.pearsonmylabs.com, for which you must register. You can do your
quiz at any time before the deadline. However, once you begin your
quiz, it must be finished within an hour.
You must not exit or close the quiz window during the quiz as this will
count as you submitting your quiz as is. This will also occur if your
internet cuts out so please make sure you are on a secure connection.
For these quizzes, one attempt is allowed.
To reduce risk of computing issues with these online quizzes, please run
a browser check prior to your first quiz.
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Exams
Exams will consist of multiple choice and short answer questions. The
final will cover material from the entire course. To prepare for exams,
students should review all the relevant chapters and class notes. Exam
dates in this outline are only tentative. Students will be notified of the
date of the exam at least one week in advance.
Course Website
Canvas
https://isit.arts.ubc.ca/canvas/
8 Spring Break
9 Money and Banking Ch.26
10 Interest Rates and Economic Activity Ch.27
11 Canadian Monetary Policy Ch.28
12 Canadian Monetary Policy Ch.28
13 International Trade and Trade Policies Ch.32 and 33
Course Objectives
You can understand what people are talking about in the
news regarding the economy
http://www.rbc.com/economics/economic-reports/provincial-economic-forecasts.html
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Chapter 19 and 20
What Macroeconomics Is
All About
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Source: https://www.economics.utoronto.ca/jfloyd/modules/infl.html
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CPI t =
∑ PQt 0
× 100
∑PQ 0 0
CPI t =
∑ PQ
t 0
× 100
∑PQ
0 0
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Suppose
CPI1986 = 64.4
CPI2013 = 121.9
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GDP Deflator
GDPDeflatort =
∑ PQ t t
x100 =
NominalGDP
x100
∑PQ 0 t RealGDP
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US Annual Inflation Rate
Interest Rates
http://www.statcan.gc.ca/tables-tableaux/sum-
som/l01/cst01/dsbbcan-eng.htm
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Peak
Actual GDP
Potential GDP
Peak
Trough
Inflationary Gap
Time
Potential output (full employment output)
What the economy could produce at a point in time if all
resources were employed at their normal levels of
utilization.
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Long-Term Growth
Potential output increases over time.
What the economy could produce at a point in time if all
resources were employed at their normal levels of
utilization.
1,400.00
1,200.00
1,000.00
800.00
600.00
400.00
200.00
0.00
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Actual GDP
Potential GDP
Time
Economists debate the effectiveness of fiscal and monetary
policy in influencing these short-run fluctuations.
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Question
What is the best level of
1) real GDP?
2) annual real GDP growth?
3) annual inflation rate?
4) unemployment rate?
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