Category Archives: Macroeconomics

Here’s the rundown on my plan for week 3.  We’ll start by working a couple of problems from the end of chapter 2 just to make sure we understand this stuff about comparative advantage.  Then we will proceed into chapter 3 on supply and demand, probably the last half of the class on Monday. I am going to plunge right in and talk about the graphs and forms rather than the long slow buildup in the chapter. this model of behavior is one of the most important and forms a basic knowledge set for economics.

We will also see how to derive a demand curve in practice, probably on Wednesday, by conducting an experiment in class.  Bring money.

We will continue with Ch 3 on Wednesday, with a lot of emphasis on interpreting graphs of supply and demand, and what it means for demand to increase or decrease, supply to increase or decrease.  We will try some problems also.

We will spend a few minutes Friday reviewing for the exam, which will cover Chapters 1, 2, and 3.  It will be Monday the 25th, part multiple choice and part writing things out.  There will be problem solving.

See you in class.

This week on Monday we will play the market game I’ve planned and told you about earlier. Be sure to read the instructions on WebCT. I will go over them in class, but it helps if everyone knows how it works before we start talking about it. Remember, I need three volunteers for statisticians to help with the record keeping. It won’t keep you from playing. I’m trying to figure out how to do the game in our lecture hall, and it may be tricky, but if we are laid back about it, it will work out.

I also need to remember to post the first homework assignment wo you can start working on it. It is due before the exam.

Also I expect on Wed to have a refresher of the math facts about graphs you will need. We will accomplish this by solving an exercise or two. I’m not going to lecture about it. We’ll have class members come up and explain the exercises.

Fri i will probably get to talk more about Ch 1 or more probably, go straight into chapter 2. So you can start reading ahead.