ECON 2400 Lecture 1: ECON2400 lecture notes (final)
19 Jul 2016
School
Department
Course
Professor
Document Summary
Di erence 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 aqer 1930s) 2. Policies (government only interested aqer 1930s, the great depression) In the great depression, unemployment rate (unr) rose to over 20%. Fluctuaung during the years, not a stable one 2. Real income per person was growing over the period. When compare to argenuna, it had much lower growth than that of canada because of canadian be^er growth policies. Growth policies examples: (midterm tested on choosing the right. Growth-oriented policies: expenditures on educauon: created more human capital, law and order: protects individuals from fraud, etc, poliucal stability. Same democrauc system enable us to plan ahead (e. g. 10 years later the policies will sull be the same), this encourage the investment in long-term project. (in argenuna, this is not the case: expenditure on health.
