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Econ 102: Introductory Macroeconomics (Spring 2014)

Professor: Elizabeth Kelly.
Lectures: MW 1:20pm-2:10pm.
Office Hours: M 2:20pm-3:20pm, W 9:00am-10:00am.
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)


  • The structural unemployment question from Midterm 1.

    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.

  • GDP deflator note.

    Here is a revised explanation of the GDP deflator:

    To compute Real GDP, you use the prices from a certain base year: RealGDPcur=∑ Pbase * Qcur.

    To compute Nominal GDP, you use the prices from the current year: NominalGDPcur=∑ Pcur * Qcur.

    To compute the GDP deflator, you use the Nominal GDP and the Real GDP from the current year: Deflator = NominalGDPcur / RealGDPcur.

Hints & Tips

  1. Looking for problems? Professor Kelly's website. There are so many problems to solve.

  2. Looking for help? Come to office hours! Or, if you can't make my office hours for whatever reason, write me an e-mail and let me know when you're available and we will work out a time.


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.
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Week 16 and Solution.

This Page Last Updated: May 11, 2014