ECON 2400 Lecture Notes - Lecture 1: U.S. Bancorp, Dot-Com Bubble, Money Supply
8 Oct 2015
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Document Summary
Difference between microeconomics and macroeconomics: micro is more detailed and macro focuses on the whole society. Macroeconomics policies regarding to growth (growth policies, which government was interested in before and after 1930s) 2. In the great depression, unemployment rate (unr) rose to over. Fluctuating during the years, not a stable one: real income per person was growing over the period. When compare to argentina, it had much lower growth than that of. Growth-oriented policies: expenditures on education: created more human capital, law and order: protects individuals from fraud, etc, political stability. Same democratic system enable us to plan ahead (e. g. 10 years later the policies will still be the same), this encourage the investment in long-term project. (in. Argentina, this is not the case: expenditure on health. Healthy labor force means more productive labor force: expenditure on research and development (r&d)
