PreparED Study Materials
ECON 2010: Intro to Macroeconomics (2010 - 003) Professor Sumant Rai
School: University of Memphis
Number of Notes and Study Guides Available: 6
Notes
Study Guides
Videos
Unpacking Long-Run Growth: The Pivotal Role of Rising Productivity
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Unravel the complexities of long-run economic growth and its driving factors. Discover why rising productivity stands out as the cornerstone of sustainable economic expansion. Understand the role of various elements in shaping a nation's economic trajectory.
Price Effect in Economics: Navigating Income & Substitution Dynamics
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Explore the nuances of the price effect in economics, focusing on the income and substitution effects. Understand through real-life scenarios how these phenomena influence consumer spending patterns. Gain insights into the intricate dynamics of consumer responses to price shifts.
Market Economy Pros & Cons: Balancing Benefits with Shortcomings.
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Discover the intricate workings of a market economy, highlighting its notable advantages such as efficiency and innovation, and addressing the critical challenges like income inequality and market failures. Understand the balance between market and non-market elements in global economic systems.
Barter to Money: How Double-Coincidence of Wants Evolved Trade
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Explore the historical barter system and its challenges, particularly the double-coincidence of wants. Witness how the need for simpler transactions led societies from direct barter to embracing mediums of exchange like money.
Storm Effects on Factor Markets: Wages and Capital Renta
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In the scenario presented, a ferocious storm causes damage to multiple factories, impacting the stock of capital. This, in turn, has consequences for factors in the market, affecting both wages and the rental price of capital.
Economic Resources Explained: The Pillars of Production in the Economy
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Uncover the fundamental concept of economic resources and their pivotal roles. From land and labor to capital and entrepreneurship, grasp the intricacies that drive production. Experience an insightful look into the elements shaping our economic activities.