MacroEconomics 2014 John Cossey

皇帝帅哥

Where am I from?

TORONTO, CANADA

WHAT ARE THE TOP BANKS IN CANADA?

WHAT ARE THE TOP BANKS IN CHINA?

Canadian Imperial Bank of Commerce

s

-Fifth largest bank in Canada -$350 Billion CAD in assets. -42 000 employees.-Opened 1867

$1 CAD = 6 RMB

TELLER: A CUSTOMER’S FIRST IMPRESSION

Chinese Canadian

Studied Finance No

Often not smiling Must smile

Glass protection None

Take number Stand in line

Follow Chinese banking policy Follow Canadian banking policy *stricter than USA (ie 2008 recession caused by banks giving bad loans)

Use chopsticks ?

ATM sometimes no $ Always have $ or else customers would leave bank.

Me Related to Macroeconomic

sCIBC

Motorcycle Business

Brother Works for IBM &

Cisco Systems & the

Canadian Government

My own investments

require knowledge of

macroeconomics

Hobby (reading the

news eg. BBC)

Questions?

入乡随俗！

Expectations for this Course This will be an interactive course. If you

answer my questions, even if they are wrong I can see you are thinking!

Ask questions! This shows me you are thinking!

This course will build your English vocabulary, communication skills, your analytical and management skills.

This course will better prepare you for the business world.

This is an ideas course not a math course. You won’t need a calculator.

Homework 5

Attendance 10

Classwork 20

Midterm Examination 25

Final Examination 40

100%

Hand in at beginning of the class. If not then you will lose marks.

Homework 5

Attendance 10

Classwork 20

Midterm Examination 25

Final Examination 40

100%

Excused absences ( 假条 ) lower the final grade 1 point each. Unexcused absences （没有假条） lower the final grade 2 points each.

Repeatedly being absent from class （ 1/3 ） will result in failing the course with no option to take the final exam.

Come to class on time!

Homework 5

Attendance 10

Classwork 20

Midterm Examination 25

Final Examination 40

100%

-No Sleeping!

-No Angry Birds!

-No talking loudly to partners when I’m talking!

-Participate in class!

-Ask questions! Give answers!

Homework 5

Attendance 10

Classwork 20

Midterm Examination 25

Final Examination 40

100%

Content of exams will be totally from my lectures and PPTs.

Cheating policy…

Cheating Policy

On all Quizzes or Exams:

Talking: -10%Phone: -10%Cheat Cheat = 0%

Cheating Policy

Cheating may seem like a good way to reach your goals, but you are actually hurting yourself, the people you cheat from, and your teacher.

Cheating includes copying your answers from another student’s book, doing an assignment or an exam for someone else, turning in the same written homework paper, and looking at other student’s quizzes or exams.

“If you are faithful with the little you will be faithful with much!”

- Jesus

Want good marks? Buy me this!

http://macrosias2013.weebly.com/

John’s phone number: 1-863-901-1031

Have you studied economics before?

What is Economics?The study of how people deal with limited resources

What is Macroeconomics?

What is Microeconomics?

- Examines the workings and problems of an economy as a whole.- The large things. Not just peanuts. Sees the big picture.

-Examines individual decision-making at firms and households

Give me examples of macroeconomic ideas.

Some ideas we will study:

How do governments create economic stability?Why do some countries grow wealthy faster than other countries? (Korea vs. Mexico)What government decisions can lengthen

or shorten recessions?How does technology affect wealth?What causes GDP to grow or to decrease?What influences unemployment rate to rise or fall?

Why do inflation rates change?

Why is lower inflation rate better than higher?

What does a change in interest rates do to an economy?

Is international trade beneficial?

What are bonds? What are mutual funds?

Are these Micro- or Macro- economic questions/ideas?

•GDP: Gross Domestic Product

•The total monetary value of all the finished goods and services produced within a country's borders.

Answer: Macro

GDP per person (World Bank 2011)

The price farmer John sold his corn in California for?

Answer: Micro

Profits of wood production by Canada ‘s largest wood

company?Answer: Micro

Low interest rates in America.

•Interest Rate: the amount received or paid per dollar on a loan.

Answer: Macro

High unemployment in Europe.

Unemployment Rate: the percentage of those who are able to work that are unemployed

Answer: Macro

China’s Inflation Rate averaged about 6 percent from 1986 until

2013.Inflation Rate: the percentage increase in the price of all goods and services from one year to the next.

Answer: Macro

Apple stock loses 1.8 percent today.

Answer: Micro

American government spends $831 billion to stimulate it’s economy.

Answer: Macro

Why will a study of Macroeconomics benefit you?

Knowing how government decisions and economic factors will affect decisions people make about spending money will help you make better business/investment decisions.

To learn how you can be a positive influence on your country’s/your world’s economy.

Help you predict people’s financial decisions and prepare for it (personally or in business).

What affects/influences the wealth of nations?

• war• style of government/laws• desires and opportunities• weather• resources • culture• history• more….

Can you give me ideas/terms that Macroeconomics will study?

-Interest Rates-Inflation-GDP = Gross Domestic Product - Unemployment Rate-Monetary/Trade Policy (Government Law)-Large events (war, natural disasters, demographics) -Stock Market-National Debt-Technology

“Every coin has two sides”

A country goes to war.

What are the economic costs and benefits?

Costs: -money - lives of people who could make money-destruction of land/buildings etc.

Benefits:-soldiers, weapons companies, construction workers earn money-new safety to earn more money

What are the top three largest country economies in the world

in order?1.America2.China3.Japan

What has influenced them to become large/valuable?

Eg. America:-business savvy- big population- started on the shoulders of England’s advancements-well educated- financial freedom- large land with resources