EC6012 Lecture 4: The Simplest Model with Government Money
Today:
1. Finish off Conventional National Income and Expenditure Matrix
2. Problem: Calculation of GDP GL, (pg. 34--36)
3. Another accounting problem using the circular flow.
4. The Simplest Model with Government Money (GL, pgs 57--71 & Simulations using Eviews)
5. Problem: Interpretation of "steady states" and "shocks" in the light of SIM1.
Before the lecture:
Web Stuff to look at in revision, from Brad Delong's excellent blog.
Book Read Godley and Lavoie pgs 32--71.