Professor: Elizabeth Kelly
Lectures: MW 1:20pm-2:10pm.
Office Hours: M 2:20pm-3:20pm, W 9:00am-10:00am.
E-mail: zflynn@wisc.edu.
Office: 6473 Social Science.
Sections: F 8:50am-9:40am (354), F 9:55am-10:45am (356), F 11:00am-11:50am (351), F 12:05pm-12:55pm (359)
Notes
Consider a labor market with unemployment benefits u such that u is greater than the market wage, then, u is effectively a price floor on wages which prevents the labor market from clearing.
Here is a graph.
Here is a revised explanation of the GDP deflator:
To compute Real GDP, you use the prices from a certain base year: .
To compute Nominal GDP, you use the prices from the current year: .
To compute the GDP deflator, you use the Nominal GDP and the Real GDP from the current year: .
Hints & Tips
Handouts
Week 1.
Week 2 and Solution.
Week 3 and Solution.
Week 4 and Solution.
Week 5 and Solution.
Week 6 and Solution.
Week 7 and Solution.
Week 8 and Solution.
Week 9 and Solution.
Week 10 and Solution.
Week 11 and Solution.
Week 12 and Solution.
Week 13 and Solution.
Week 14 and Solution.
Week 15 and Solution.
Week 16 and Solution.