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What the Short-run and Long-run is in macroeconomics - Principlas of Macro Economics - Lecture Notes

Lecture Notes, Macroeconomics

Post: November 13th, 2012
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What the Short-run and Long-run is in Macroeconomics, AD Curve Slopes, Classical Economists Thought, Marginal Propensity to Consume, Unspent Purchasing power and Sticky Wages are key points of this lecture notes. This lecture is part of principal of macroeconomics course.
What the Short-run and Long-run is in Macroeconomics, AD Curve Slopes, Classical Economists Thought, Marginal Propensity to Consume, Unspent Purchasing power and Sticky Wages are key points of this lecture notes. This lecture is part of principal of macroeconomics course.
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Contents
Economics 2 Spring 2012 Unit 3 What I expect you to know for the test: Chapter 5 - Why the AD curve slopes down (real balance effect): Pages 120-121. - What the short-run is in macroeconomics: Pages 130-132. - Why the short-run aggregate supply curve slopes up: Pages 130-132. - What causes the SRAS curve to shift and why: Pages 132-134. - Why the macroeconomic equilibrium is where it is: Pages 134-135. - The relationship between output and unemployment: Pages 135-137. - How the short-run macroeconomic equilibrium changes when AD or SRAS curve shifts and how this affects prices, output, and unemployment: Pages 137-139. Chapter 6 - What the long-run is in macroeconomics: Pages 139-140. - How wages will change in the long-run and how this will affect the SRAS: Pages 150-152,154-158. - The long-run equilibrium and the long-run supply curve: Pages 139-141. - Be able to work through how a shift in the SRAS or AD curve affects the economy in both the short-run and the long-run: Pages 158-15..

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