1. EC4004 Lecture 1 Lecture 1 Growth Matters

3. <1> <2> Setup Recap <3> Growth Matters

4. <1> Setup

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6. Volunteers Email if you don’t want to be one

7. www.stephenkinsella.net

8. Office: KB 3-46 [email_address] Office Hours: TBA

9. </1> Setup

10. <2> Recap

11. 1. Economic Models 2. Supply and Demand 3. Measuring the Macroeconomy (Handout)

12. </2> Recap

13. <3> Growth Matters

15. Growth rate of real GDP for year t = (( Yt− Yt−1)/ Yt−1)− 1 Multiply by 100 to get the growth rate of real GDP in percent per year.

16. Example: Y2006=105; Y2005=100 Growth Rate = 105-100/100-1*100 =5%

21. </3> Growth Matters

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23. Next Time Growth Theory Read Barro Chapter 3