Course description Macroeconomics is the most disputed, confused, yet excited field in economics. This course introduces you how economists think about those macroeconomic problems such as inflation, unemployment and recession, and how macroeconomic policies

Chapter 7: The Analysis of Price Determination Gang Gong Copyright Notes: This electronic file is only used as a lecture notes for the student in this class. It is not allowed to be used for presentation anywhere else without the permission from the author

Introduction The objective of this chapter is to put the previously discussed two models --the models of product market and money market --together and discuss how output and interest rate is determined The model presented in this chapter is often called the IS-LM model (IS: the product market model; LM the money market model)

Question 1 Suppose in an open economy the consumption function take the form C=100+0.8 Tax is the proportion of income with the tax rate to be given by 0. 2. Meanwhile import depends on the domestic income with the function given by

(Continued with question 1 in exercise for chapter 3). Suppose instead of given 2000 there is an investment function which takes the form Above, i is the interest rate. Meanwhile there is a demand function for money Md=1.2Y-20000i Assume that the monetary base is equal to 2000 while the required reserve ratio is 1 ). What is the equilibrium level of output Y and interest rate?

Nobel lecture december 12, 1933 On passing through an optical instrument, such as a telescope or a camera lens, a ray of light is subjec reflecting surface. The path of the rays can be constructed if we know the two simple laws which govern the changes in direction: the law of refrac- tion which was discovered by Snellius a few hundred years ago, and the law of reflection with which Archimedes was familiar more than 2,000 years ago

When in 1920 I resumed my studies of theoretical physics which had long been interrupted by circumstances beyond my control, I was far from the idea that my studies would bring me several years later to receive such a higl and envied prize as that awarded by the Swedish Academy of Sciences each year to a scientist: the Nobel Prize for Physics. What at that time drew me towards theoretical physics was not the hope that such a high distinction

Daniel E Prober is in the Departments of Applied Physics and Physics, Yale University, NewHaven, Connecticut 06520-8284 USA. e-mail: daniel.prober@yale.edu Astronomers crave a detector sensitive enough to detect a single photon and determine its energy. new single-pixel

The events leading to the discovery of tunnelling supercurrents took place while I was working as a research student at the Royal Society Mond Labo- ratory, Cambridge, under the supervision of Professor Brian Pippard. During my second year as a research student, in 1961-2, we were fortunate to have as a visitor to the laboratory Professor Phil Anderson, who has made numerous

Note final ps For question 2(a)the value of k'in the final equation(Eq 3b) needs to be rescaled Tuesday lecture will be for questions on the last problem set Juan)