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