Open-Economy Macroeconomics Basic Concepts. Outline: Closed versus open economy Key macroeconomic variables in an open economy Understanding and.
Slide 0 Marginal product of labor (MPL) def: The extra output the firm can produce using an additional unit of labor (holding other inputs fixed): MPL.
Lecture 3: Basics of Macroeconomics Dr. Rajeev Dhawan Director Given to the EMBA 8400 Class January 18, 2008.
ECON 102 Tutorial: Week 25 Ayesha Ali [email protected] office hours: 8:00AM – 8:50AM tuesdays LUMS.
Aggregate Demand - Aggregate Supply Equilibrium. The Fixed-Price Keynesian Model: An Economy Below Full – Employment Focus on the Demand Side.
Slide 0 The Data of Macroeconomics. slide 1 Learning objectives In this chapter, you will learn about: Gross Domestic Product (GDP) the Consumer Price.
Chapter 5 Production, Income, & Employment. Production and Gross Domestic Product Gross domestic product (GDP) Total value Of all final goods and services.
Open Macroeconomic Economy Part 2 (Chapter 32) Barnett UHS AP Econ.
Macroeconomics Mini-course Professor Pierre Yared.
International Economics
A Macroeconomic Theory of the Open Economy