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  • Introduction To Macroeconomics ECO 104

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    Mustafiz Dipto
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    This document provides an introduction to a macroeconomics course. It outlines the instructor's contact information and office hours. It then briefly defines economics as the science of dealing with scarcity and distinguishes between microeconomics, which focuses on individual units, and macroeconomics, which focuses on the overall economy. The document lists some major macroeconomic problems like inflation and unemployment and their corresponding objectives. It also outlines the course assessment pattern and provides a word of advice about asking questions and being honest.

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    This document provides an introduction to a macroeconomics course. It outlines the instructor's contact information and office hours. It then briefly defines economics as the science of dealing with scarcity and distinguishes between microeconomics, which focuses on individual units, and macroeconomics, which focuses on the overall economy. The document lists some major macroeconomic problems like inflation and unemployment and their corresponding objectives. It also outlines the course assessment pattern and provides a word of advice about asking questions and being honest.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    11 views14 pages

    Introduction To Macroeconomics ECO 104

    Uploaded by

    Mustafiz Dipto
    This document provides an introduction to a macroeconomics course. It outlines the instructor's contact information and office hours. It then briefly defines economics as the science of dealing with scarcity and distinguishes between microeconomics, which focuses on individual units, and macroeconomics, which focuses on the overall economy. The document lists some major macroeconomic problems like inflation and unemployment and their corresponding objectives. It also outlines the course assessment pattern and provides a word of advice about asking questions and being honest.

    Copyright:

    © All Rights Reserved
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    of 14

    INTRODUCTION TO MACROECONOMICS

    ECO 104
    How can you find…or avoid me??

    • Where am I?
    – NAC 8th Floor Economics Department
    • How to contact me…
    Email –minhaz.ahmed@northsouth.edu
    GOOGLE CLASSROOM
    • Office Hours
    – RA 7:30 AM – 8:00 AM,
    – RA 9:40 AM – 10:40 AM
    – BY APPOINTMENT
    Textbook

    Economics 9th edition


    Roger Arnold
    Other Stuff…

    Academic Dishonesty

    Classroom Conduct
    Chapter 1
    What Economics is About?
    Definition of Economics

    SCIENCE of how individuals and


    societies deal with the fact that
    wants are greater than resources
    available to satisfy those wants
    Scarcity

    • Wants are greater than the resources available to


    fill those wants
    • What do you have scarcity of???
    – Money
    – Time
    • What do firms have scarcity of???
    – Labor
    – Land
    – Capital
    Thus….
    Economics is the
    SCIENCE of SCARCITY
    Micro vs. Macro
    • Microeconomics
    – Study of human behavior and choice. It looks at SMALL
    units (individual, market, single firm).
    • Macroeconomics
    – Study of human behavior and choices as they relate to
    highly aggregate markets (the economy as a whole).
    – Microeconomics is the basis through which macro
    analysis is made, hence it is important to have a strong
    understanding of micro theory and fundamentals.
    REVISION OF ECO 101
    • OPPORTUNITY COST
    • DEMAND AND SUPPLY
    • EQUILIBRIUM PRICE AND QUANTITY
    • MOVEMENT FACTORS
    • SHIFT FACTORS
    MACROECONOMICS
    • FOCUSES ON ECONOMY AS A WHOLE
    • IDENTIFIES PROBLEMS
    • THEORIES ARE DEVELOPED TO FIND THE
    CAUSE OF PROBLEMS
    • POLICIES ARE PUT FORWARD TO SOLVE THE
    PROBLEMS
    • DIFFERENT VIEWS REGARDING HOW
    PROBLEMS SHOULD BE SOLVED e.g. FEVER
    MAJOR MACROECOMIC PROBLEMS AND
    OBJECTIVES

    PROBLEMS OBJECTIVES

    HIGH INFLATION RATE STABLE PRICE LEVEL

    HIGH UNEMPLOYMENT RATE NATURAL RATE OF UNEMPLOYMENT

    HIGH INTEREST RATES STABLE INTEREST RATES

    LOW ECONOMIC GROWTH BOOST ECONOMIC GROWTH


    Assessment Pattern
    • MCQs
    • True/False
    • Short Questions
    • Fill in the Blanks
    • Analytical questions
    WORD OF ADVICE AND WARNING
    • IF YOU HAVE ANY QUERIES, QUERIES, PROBLEMS IN
    UNDERSTANDING MY LECTURE, YOU CAN ASK ME
    NUMEROUS TIMES SINCE THIS IS WHY YOU PAID FOR
    AND THIS IS WHY I AM PAID FOR. DON’T HESITATE!
    • BE HONEST AND TRUTHFUL IN YOUR EXCUSES,
    BECAUSE ONCE I FIND OUT THAT YOU WERE
    PRACTICING DISHONEST MEANS, PENALTIES WILL BE
    IMPOSED.
    THANK YOU

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