20110426 ias 107 - delong.typepad.com · 26-04-2011 · 20110426 ias 107.pptx author: bradford...
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IAS 107 Lecture: The Course as a Whole
J. Bradford DeLong U.C. Berkeley
IAS107 Lecture Notes
http://delong.typepad.com/berkeley_econ_101b_spring/
April 26, 2011
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Problem set 9/sample final due April 28 at start of class...
http://delong.typepad.com/berkeley_econ_101b_spring/2011/04/problem-set-9-due-april-28-2011.html
Office hours: today, Thursday... Tuesday: Review of important concepts from the
course Thursday: Go over sample final
Logistics
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Growth: production function Growth: balanced growth path Growth: forecasting Depression: NIPA Depression: income-expenditure Depression: investment-savings Depression: real interest rate movements Inflation: quantity theory of money Inflation: Phillips Curve Inflation: MPRF Inflation: Expectationally-consistent
equilibrium
Problems to Solve Budget: sustainability Budget: burden of debt Budget: crowding out Data: pace of long-term growth Data: world real GDP Data: spread of world GDP Data: unemployment rate Data: employment-to-population ratio Data: inflation rate Data: government spending Data: government deficits
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Depression Economics
J. Bradford DeLong U.C. Berkeley
IAS107 Lecture Notes
http://delong.typepad.com/berkeley_econ_101b_spring/
April 26, 2011
Resolution for screencast capture: 1024x768
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The Labor Market
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Interest Rates
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Real GDP
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Inflation Expectations
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Four years ago: Income-expenditure
model Multiplier Investment-savings
equation Monetary policy Irrelevance of fiscal
policy
Depression Economics Today:
Income-expenditure model
Multiplier
Investment-savings equation
Monetary policy
Fiscal policy
Financial crisis
Say’s Law
Financial excess demands—for liquidity, duration, safety
Liquidity traps
Non-standard monetary policy
Banking policy
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Inflation Economics
J. Bradford DeLong U.C. Berkeley
IAS107 Lecture Notes
http://delong.typepad.com/berkeley_econ_101b_spring/
April 26, 2011
Resolution for screencast capture: 1024x768
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Quantity theory of money Monetary base Money multiplier Money stock Phillips curve Inflation expectations—static, adaptive, rational Monetary policy reaction function
Inflation Economics
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Budget Economics
J. Bradford DeLong U.C. Berkeley
IAS107 Lecture Notes
http://delong.typepad.com/berkeley_econ_101b_spring/
April 26, 2011
Resolution for screencast capture: 1024x768
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Call This Date 2015. What Will the World Look Like in 2015? “Baseline”
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Call This Date 2015. What Will the World Look Like in 2015?
“Alternative”
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Medical Care Across Countries
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Is There a Compelling Argument for Shrinking Government—or Capping
Its Growth?
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Countercyclical deficits good Structural deficits bad Government health care programs Long-run health care financing dilemmas Debt sustainability Impact of rising debt on economic growth Hyperinflation
Budget Ecconomics
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Growth Economics
J. Bradford DeLong U.C. Berkeley
IAS107 Lecture Notes
http://delong.typepad.com/berkeley_econ_101b_spring/
April 26, 2011
Resolution for screencast capture: 1024x768
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Neolithic Revolution Total factor productivity Malthus Demographic transition Production function Capital-output ratio Steady-state balanced growth path Resources: savings, physical capital, human capital, labor-force
growth, depreciation Technology, organization, and markets
Growth Economics