Chapter1TheScienceofMacroeconomics(曼昆宏观经济学第七版(英.pptVIP

President Barack Obamaand the State of the Economy When President Obama moved into the White House in 2009, the economy was in a state of turmoil. Mortgage defaults and a drop in housing prices were the major culprits. The crisis affected other sectors of the economy, pushing the economy into another recession. Some liken the situation to that of the Great Depression which occurred in the 1930s. Market clearing is an alignment process whereby decisions between suppliers and demanders reach an equilibrium. Here’s how it works. * * Chapter One CHAPTER 1 The Science of Macroeconomics ? A PowerPoint?Tutorial To Accompany MACROECONOMICS, 7th. Edition N. Gregory Mankiw Tutorial written by: Mannig J. Simidian B.A. in Economics with Distinction, Duke University M.P.A., Harvard University Kennedy School of Government M.B.A., Massachusetts Institute of Technology (MIT) Sloan School of Management Mankiw’s Macroeconomics Modules for Macroeconomics 7th ed. are dedicated to the loving memory of my cherished father, best friend and mentor. Daddy– you are still my inspiration for making sure these tutorials are the best they can be for students worldwide! Ara Vahan Simidian (June 24, 1928 - December 19, 2008) May he continue to enjoy learning and loving economics from heaven above. In Memoriam Ara Vahan Simidian with Mankiw’s Macroeconomics Modules author, Mannig J. Simidian, 2007. Professor Greg Mankiw is not only a prolific, talented, and ingenious economist, but humble and kind-hearted. His unique and extraordinary creative ability to impart knowledge makes him both an economist and artist. I am so honored and grateful again be a part of supplementing his unprecedented craftsmanship. My mentor, and friend for over a decade Professor Mike McElroy (North Carolina State University) was the first to see the novelty in these tutorials while I was an undergraduate student at Duke University. His contributions and influence will be a part of my work indef