January 23, 2008

Macroeconomics - understanding the big picture.

The macroeconomics class is a great P3 core course. It is interesting to understand ..

What is GDP? How is it calculated?
What is PPP?
What is the world's GDP?
What is inflation? Why does it occur?
What is money supply? How does money circulate? What happens when central banks print too much money?
Why do some countries grow and others don't?
What is important for countries to grow rich?
Which country has had the highest average growth rate in last 20 years?
Which Latin American country was in the top 10 in early 20th century with GDP higher than all countries in EU (except UK and Germany)?
What is technology frontier? Could someone in 1920 have projected US growth rate in 2006?
Which were the 2 biggest economies in the world in 19th century?
Why did the industrial revolution really happen?

and so on..each class provides insights and some striking examples.

Professor Ilian Mihov's class is a joy to be in - and today's class was fantastic. He is engaging, subtle and - accomplished (several papers with Antonio Fatas and Ben Bernanke). I need to spend some time studying all his optional readings.

Things are getting terribly hectic again in P3. INSEAD is not for those who cannot take a frenetic pace of study and partying.

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