Class Notes

Tuesday class:

we covered material informally to get you thinking about comparisons and data:

  • lots of data for japan, go to government web sites first!
  • market exchange rates and PPP exchange rates: we generally will use the latter
  • misc as class progressed on population, GDP
  • horror of a natural disaster vs economic impact (<.02% of population, and <.01% of labor force while losses to [say] schools may not impede “output” — holding classes — given the availability of substitute production methods)
  • but indirect impact is a pending topic

for thursday: GDP which will provide an entre to growth models and business cycles

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