Tutorials
Week 3
Maastricht University · Economics and Business Economics
Y1 - MacroeconomicsInhoud
De koppen uit dit document, op volgorde. Niet de inhoud zelf.
- the workers ( unions )
- unions care about wages, bargaining power → how many people are in union → relate this to
- unemployment : wage setting equation
- firms which are in an unequal market → what do they do
- setting prices given the wages that are negotiated : the price setting equation
- equilibrium ( figure )
- the battle of the markups
- natural unemployment
- endogenous, exogenous and parameters
- 2 bonus questions
- learning goals
- What does the Phillips curve look like?
- Understanding the role of the axis in a graph: why does the PC keep moving?
- What is the role of expectations in the Phillips curve? (how does it tie into your task for the second country risk anal
- What explains inflation? Why is inflation a monetary phenomenon?
- Why is there a trade-off between inflation and unemployment
- What is the natural rate of unemployment? (i.e. what are its determinants)
- A3
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