Micro and Macro Study Guide

Micro Study Guide

Macro Study Guide

International Trade Guide

Chapter for HW Due 3/30

Here is the link.

Chapter for HW

Here is the link

PPP Assignment (Due at End of Class)

For today's assignment, share a Google Doc with me (Mrdasilvasjha@gmail.com) labeled the following: "Measuring Development and PPP Assignment."


#1: Go to http://www.economist.com/content/big-mac-index and complete the following:

• A. In your own words, what is the theory behind purchasing power parity?
• B. What does the Big Mac Index measure?
• C. List two countries in which a Big Mac is more expensive than it is in the US
• D. Why is a Big Mac more expensive in these countries?
• E. List two countries in which a Big Mac is cheaper than it is in the US.
• F. Why is a Big Mac cheaper in these countries?

#2: Go to Where Are You on the Global Pay Scale?
Read the article and complete the following:

• A. What is the total value of world income?
• B. If income were to be divided completely evenly, how much income should each person in the world make?
• C. Why is it difficult to calculate the world's average wage?
• D. What is the world's average yearly salary?
• E. Why is the world's average yearly salary higher than your answer for question B?
• F. Why is PPP important to understanding the value of people's wages?

#3: Read ch. 28 from the textbook (link here). Then answer the following questions:

• a. What is the difference between absolute and relative poverty?
• b. What is the cycle of poverty?
• c. Why might a developing country have a much different value for its GNI/GNP than its GDP? (remember that GDP measures goods produced within borders while GNI/GNP tracks where the profits go)
• d. What are some different health and education measures that economists use? What information do they tell us?

#4: Extra Credit: Go here to see some interesting things about the world's population. Then, Go here to see trends in different development statistics.   What is the value of these tools to economists?

Commentary Samples

FEEDBACK

Above is the link to the feedback about your article choices. Your assignment today is to write your commentary. If you've forgotten how, below is a quick outline.

I. Introduction (set context and briefly summarize article)
II. Define and explain relevant terms
III. Use and explain diagrams related to the article.
IV. Evaluate different perspectives on the article or economic decisions implicit in the article.

Here is a link to the outline doc we've used before.




Below are some sample Commentaries for this unit and the Google Form Submission.
Sample A

Sample B (Quotas)

Submit a Google Form for your Econ Commentary Article. 

If you finish your commentary early, start reading Ch. 27.

Answer questions 1-4 on page. 280

Link

Macroeconomics Commentaries

Complete this Form to submit an article.
To see my feedback, click here.


Places to start looking for articles:
BBC News

New York Times

Lots of Different English-Language Newspapers From Around the Globe

CNN 

San Jose Mercury News

Wall Street Journal

Assignment: Find at least one article where you could apply about the macroeconomic concepts we've learned about so far in the class


Samples:

Inequality
Unemployment
Inflation 

If you finish early, start outlining your commentary more in-depth.