ECOS2002 - Tutorial 1
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ECOS2002 - Tutorial 1
Welcome! Welcome everyone, online and on campus, to ECOS2002-Intermediate Macroe- conomics S2 - 2022. Tutorial 1 will serve as an icebreaker and repetition tutorial.
1. Icebreaker Exercise: Introduce yourself to the person sitting next to you or the the people assigned to your breakout room. You could discuss your hobbies, your chosen degree or what you hope to learn in this class.
2. Macroeconomic research in a nutshell
https://www.youtube.com/watch?v=d0nERTFo-Sk
Have a listen!
3. What is the difference between nominal and real variables? Which are more useful for economic analyses?
4. Consider a one good (car) economy in 2009– 11. Calculate the nominal and real GDP (in 2010 dollars) values.
Year |
Quantity of cars |
Price of Cars |
Nominal GDP |
Real GDP (in 2010 dollars) |
2009 |
5 |
$10 000 |
|
|
2010 |
10 |
$14 000 |
|
|
2011 |
13 |
$16 000 |
|
|
5. Form small groups (2-4 students) and research the most recent values (for Aus- tralia) for:
● Annual inflation:
● Unemployment:
● Quarterly real GDP growth:
Discuss these values within your group.
6. What is the difference between an endogenous and an exogenous variable? What is an example you could think of?
7. Assume the following GDP values for country A and country B in 2000 and 2020:
Country A: Country B:
2000: $5’000
2000: $9’700
2020: $11’300
2020: $14’700
Calculate the average (compound) annual growth rate for the two countries.
2022-11-23