Simplified Macroeconomics

[TallBill]

I took macro last year, got an A, and didn't understand a thing for the entire 2nd half.

 

[halik]

Mankiew's macroeconomics is standard for college

 

[mrkun]

Originally posted by: TehMac

Originally posted by: mrkun
Keynsian economics = nominal variables affect real economic output.

Classical economics = nominal variables have no affect on real economic output.

Last time I checked, interest rates, the money supply, and inflation are nominal variables.

Not necessarily; you're thinking of the Keynsian models Macroecomonists use to determine what causes inflation and how best to prevent it. Classicists argue that markets don't cause inflation necessarily, but that the money stock is a key, whereas Keynsians just believe in markets. For example, the Demand Pull suggests that higher wages mean higher prices, but that's not necessarily because of inflation, but because of higher demand, which equates to higher prices.

There's a basic example of a Keynsian model that is misleading.

Higher prices is the definition of inflation.

 

[mrkun]

Originally posted by: halik
Mankiew's macroeconomics is standard for college

Yeah, I used Mankiw's book for Macro.

 

[TehMac]

Originally posted by: mrkun
Higher prices is the definition of inflation.

:frown: That's the result of inflation, not necessarily a cause.

 

[mrkun]

Originally posted by: TehMac

Originally posted by: mrkun
Higher prices is the definition of inflation.

:frown: That's the result of inflation, not necessarily a cause.

Changes in price is the definition of inflation (and deflation). This is determined by various indices such as the Consumer Price Index (CPI) and GDP Deflator. It can be the result of a number of different factors.

 

[imported_DocHolliday]

Originally posted by: mrkun

Originally posted by: TehMac

Originally posted by: mrkun
Higher prices is the definition of inflation.

:frown: That's the result of inflation, not necessarily a cause.

Changes in price is the definition of inflation (and deflation). This is determined by various indices such as the Consumer Price Index (CPI) and GDP Deflator. It can be the result of a number of different factors.

*lawnchair*

 

[Kyteland]

Originally posted by: illusion88
It seems like you could go to your library, recite your post to the nice lady at the desk and she could produce a book that would meet your needs.

Only don't ask for it in "lament terms" or she might look at you funny.

If you only wanted a layman's overview of macroeconomics then why are you paying for a full course on the subject? Just read the wikipedia entry and be done with it.

 

[mrkun]

Originally posted by: DocHolliday

Originally posted by: mrkun

Originally posted by: TehMac

Originally posted by: mrkun
Higher prices is the definition of inflation.

:frown: That's the result of inflation, not necessarily a cause.

Changes in price is the definition of inflation (and deflation). This is determined by various indices such as the Consumer Price Index (CPI) and GDP Deflator. It can be the result of a number of different factors.

*lawnchair*

I should be more specific, really. An increase in the aggregate (economy-wide) price level is inflation. A decrease in the aggregate price level is deflation. These are defined purely in terms of the values of price indices such as the CPI and GDP Deflator. So in other words, if the CPI increases, then that's inflation.

 

[onlyCOpunk]

Well I've got my final in an hour. Studied my ass off, can't recall anything off the top of my head but I guess the test will be the basis for my knowledge. I'm also sick of seeing the word cyclically.

Could say I wish I had a choice in taking the class, but it was required, so I had no choice.

 

[OverVolt]

Theres a lot of Macroeconomics material that simply isnt approached scientifically... which is a nice way of saying a lot of it is total BS.

However i found lectures to best the resource of info for passing the class, most profs teach from their lectures and very little from the book.

Depends on the professor. Some faculty have no idea WTF they are doing and just teach from the book and then give exams that had nothing to do with the book because they don't even know the material very well either.

Some universities are very, very bad, some of them are very, very good. A measure of how much material the teacher gives from himself versus the textbook is one of my main measures of how knowledgeable a professor is about a given topic.

 

[sandorski]

What happened to my post?

 

[halik]

Does anyone know of a good online resource that explains macroeconomics in lament terms? Preferably one that would sum up everything, the AD and As curves, fiscal policies, and the lot? My textbook is really convoluted.

http://www.amazon.com/Macroeconomics.../dp/0716752379

Edit: Damn it, this shit is 4 years old. Also I posed the same book 4 years ago.

 

[dbk]

Macro was so fun! Down with Micro... ps. i forgot everything already.. econ degree is a dead paperweight to me

 

[highland145]

lament terms?

lol

 

[Fayd]

Does anyone know of a good online resource that explains macroeconomics in lament terms? Preferably one that would sum up everything, the AD and As curves, fiscal policies, and the lot? My textbook is really convoluted.

yeah, i lament learning economics as well.