How does your economy grow?

 

Update:  You will not need a laptop every class.  And if you do not have one for this class we can share.  

We will start our study of the macroeconomy by looking at some ways of assessing how well a nation is doing.  During class we will create comparisons of countries’ economic and social data.  Is there one measure – life expectancy, per person income, tax rates – that you would consider most important in deciding where to live?

20150319_tax_fo

Source: http://www.forbes.com Mar 19, 2015

We will also begin to model the national economy to better understand the constraints it faces and ways to grow.  The first model will be the production possibilities curve (PPC).  Below are three videos about PPCs. Watch them and complete the study guide.  Please print the study guide and bring it with you to class.

And finally, one of the big controversies in macroeconomics is pinpointing the necessary elements for economic growth and development.  Over the next few weeks we will look at a few researchers’ ideas.

Before March 3:

I am looking forward to seeing you all Thursday morning, 9:30-11:30!

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