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hello and welcome to our course on intermediate macroeconomics this is econ 2221 and today we're going to cover the course introduction my name is sergio campo diaz i'm an assistant professor of economics at western university and i'll be the instructor for this course today we're going to talk a little bit about me so that you know who is behind the voice that you're hearing we're going to talk about the course mechanics and finally the course outline in the next class we're going to start covering the material by reviewing different aspects and different concepts that you've covered before in your 22-20 course so a little bit about me but first welcome to the course so my background i'm originally from colombia there i did my undergrad and master's at pontificia university at javeriana both in economics and i also spent three years working at the colombian central bank i actually work at the macroeconomic modeling department this is the department in charge of building dynamic general equilibrium models with the dual objective of forecasting microeconomic variables these are variables like gdp employment inflation interest rates exchange rates etc and also understanding the effect of different changes in the economy particularly foreign shocks say that the united states decides to change their interest rates but also policy decisions inside of colombia that our government decides to spend more money or raise taxes or the central bank decides to change the interest rate and so this really was very formative for me as an economist working at the central bank you really get to see how the models that we see in class can be later on used for policy decisions by policy makers then after working there i moved to washington dc where i spent the year working at the inter-american development bank mostly on topics related to labor economics on employment and labor search and then finally i moved to minnesota where i did my phd in economics and actually i'm very proud of that and so that you know how i look here it's me graduating from my phd and so now you know exactly how i look so a little bit about my teaching experience i actually have been teaching this course on intermediate macro since i was in grad school so this will be approximately the sixth or seventh time i've taught this course but the way i'm gonna teach it i'm gonna focus on concepts and how to understand models and to use them so models are very key to how we think as economists and how we see the world the point here is not to solve math problems the point here is to represent economic problems and how to think and solve them so i'm going to be putting a lot of emphasis on interpretation and on how to interpret different problems we see in real life as mathematical problems then later are going to tell us things about how the economy works so that's going to be where most of our time is going to be spent i also do this because i want to help you build tools that you will use across almost any econ class so i really hope that you can take out of this course not only your knowledge about macroeconomics and the models we use in macroeconomics but also general ways of thinking and general ways of solving problems that can be useful in classes beyond this one now one final thing i want to talk about myself is research turns out research is the main occupation of economies that is most of what we do we also teach but most of our time is spent researching and so understanding what your professor is researching is really important for you to know what they do how they think and the type of things they actually devote time to so these research topics vary a lot and they often differ from what exactly we teach in class in my case i teach and research in macro but when you look at my research i focus mostly on heterogeneity that is the sense in which not all people have the same income there are some people that are poor some people that are rich not everybody has the same occupation some people they work in services some people are clerics some people are managers and then at the same time not only people are heterogeneous among them but also firms are heterogeneous amongst them they are not all the same they are not at all as productive they don't all face the same competition so understanding how all this heterogeneity aggregates to macro effects of policy it's very important to me um and so i wanted to give you a sense of that by briefly mentioning three of my papers the first one is called use it or lucid efficiency gains from world taxation and in this paper we re-evaluate the properties of wealth taxes as opposed to capital income taxes we actually find that well taxes can improve efficiency in the economy and they are preferred to capital income taxes because they favor people with higher returns that are also more productive so you can increase the overall productivity by switching from capital income taxes which are paid by the people who have the highest returns to wealth taxes which are mostly paid by the wealthy unproductive people people who have lots of wealth but they aren't doing much with it and so this is a new sense in which wealth taxes can be good for the economy not because they reduce inequality but because they favor the accumulation of wealth by people who are having high returns and that know what to do with that money in a very different second project that's called self-employment and development i study the fact that in developing countries without a safety net poor people can become self-employed out of necessity so you start your own business which is usually a very unproductive business because you cannot search for a job you cannot remain unemployed for long periods of time because you're poor and the state is not there to help you and we show there that this has important implications for developing policies and to understand why developing countries are so much less productive than developed countries and so this is a second paper and for you to see this also applies to firms in a third paper it's called the evolution of u.s retail concentration i uh i showed there is a known and marked trend of higher concentration across industries and in particular what we do is we measure local concentration in the retail industry local concentration is important because most retail markets are local you buy you buy goods and you buy goods mostly from retail businesses that are close to you and we showed that concentration has indeed increased in the retail sector but the effect on consumers might be small and so this kind of gives you a sense of the different topics that i that i study you can find more information at my website that's a hyperlink in case you want to click on it and in fact i actually encourage you to look at all of your professors website that's going to help you understand what they do what they work on how they think and you can engage them more in terms of what they are actually thinking about and so i really encourage you to go and check what are your professors doing as you take their courses and with that that's enough about me and we can now move to course mechanics okay so the present course it's going to be divided in six modules each of these modules is going to last for two weeks and each module is going to cover a specific topic topics are generally going to build on the previous ones and they are going to be linked to a book chapter that's going to be from the williamson's macroeconomics book the same one that you use in econ 2220 that will be intermediate macro one or if we're going to use some additional materials i will provide those readings module materials are generally going to be the following you're going to have some readings you have to do i'm going to provide you with slides and those slides are going to be accompanied by video lectures such as this one that are going to give you more details about what we do then for each module i'm also going to give you sample exercises of the type of questions that we can encounter given the topic that we're covering now what we're going to have are module tests so each module we have a test each of these tests has up to three questions and one of those questions is going to be drawn directly from the sample problems that you're going to have now tests will take place the monday after we finish each module so that's going to be mondays every two weeks starting on the monday of january 25th the test will take an hour and 30 minutes that's an hour and a half and they are gonna start at six pm eastern time at that time you can access the questions through owl and then upload your answers again throughout i will give you an additional 30 minutes after this hour and a half so that you can upload your answers and there will be no submissions after that now to be clear the only answer that you can upload is a single pdf file where you're going to have the answers to the three problems in order it is your responsibility that these uploads are legible so that we can grade them correctly now we're also going to have some readings actually there will be a reading associated to each module and these readings are going to come from academic articles in economics and the objective is to give you a sense of other things economies do but also how macroeconomics as a field has evolved in recent decades microeconomics has changed a lot and i want to give you a sense through the through the viewpoint of different important macroeconomists of how this has happened okay so i i really hope you you enjoy these readings now each of the readings is going to have an assignment a short one-page write-up about the reading i'm going to provide you with a specific question that you should answer for each of these readings and again you need to upload this but this is going to be the second monday of every module that's going to be monday every two weeks starting january 18th so what's gonna happen is every monday you're gonna either have to give one of submit one of your readings or you're gonna have one of the tasks for the module and so that's gonna be basically the pace that we cover in the class now the grading is going to be based of course on the readings that you're going to do and on the test and so the reading assignments are going to be 20 of the total grade and all assignments are equally weighted and the module tests are going to be the remaining 80 percent with all the tests equally weighted and that's going to be the entirety of the grades of the course okay there are no exams now the makeup policy reading assignments received after the daylight will not be accepted and a grade of zero will be attributed okay you can of course if you have a problem you can always submit your reading assignments before time that way you will not run this risk there will be no makeups for any of the reading assignments or any that's a typo there sorry or any of the module tests okay no makeups whatsoever in case you miss a module test as a student you can present an official document justifying the absence and if you do then the weight of the test will be distributed evenly among the other tests so instead of 80 of the course being divided between six tests it will be divided between the five remaining tests if you cannot provide a justification for the absence then a markup zero will be assigned to the test this also happens if you do not submit your test in the half an hour that you're provided to do so okay if you start submitting at the beginning of the half an hour you will have enough time to troubleshoot any problems you have to upload it correctly okay oh sorry that jumped on me then the final thing we want to talk about today is the course outline so again this is going to be around the modules our first module is going to be entirely made of review we're going to be covering the two period general equilibrium model and this is gonna be based on chapter 11 of the textbook again that's williamson's textbook it doesn't really matter which edition you have if you have this the book chapter 11 is what we're going to cover we're also going to briefly cover some mathematical tools that you're going to be using but this is going to be the core okay so that's the first module the second module is going to be about the fiscal multiplier and price rigidities it's going to be based on part of chapter 11 of the textbook but also in some academic papers by professors atif miyan and amir sufi who have researched this topic extensively at if miyanis at princeton amir sufi is at the boot school of business of the university of chicago then we're going to jump to chapter 6 of the textbook and we're going to cover a third module on unemployment and search frictions that's going to be the third module by then we're going to be halfway through the course then we're going to jump to chapter 15 of the textbook that actually builds directly on chapter 11 to talk about international trade and sovereign default so we're going to talk about open economies in this module the final two modules are going to be about monetary economics the first one about money neutrality and it's going to be on chapter 12 of the textbook money neutrality is the starting point of how we think about money but then we're going to be able to talk about money non-neutrality in the cash in advance model this is also based on chapter 12 of the textbook actually on the appendix and with that we're going to cover all the different topics we want that go from the simple two period general equilibrium model where everything is real we're gonna be able to talk about the effects of fiscal policy on employment which is absent from that model but we're going to be able to introduce it we're going to open the economy to international trade and then we're going to introduce money to be able to talk about monetary policy as well and so with that we finish for today and in the next lecture what we're going to talk about are different mathematical concepts mostly linked to optimization and constraint optimization that we're going to be using throughout the course thank you

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How to electronically sign a PDF document with an iPhone or iPad How to electronically sign a PDF document with an iPhone or iPad

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How to eSign a PDF file on an Android How to eSign a PDF file on an Android

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How do i add an electronic signature to a word document?

When a client enters information (such as a password) into the online form on , the information is encrypted so the client cannot see it. An authorized representative for the client, called a "Doe Representative," must enter the information into the "Signature" field to complete the signature.

How to sign a document through a pdf?

How to sign through the Internet? What is a pdf document? How to send and receive a pdf document? How to create a pdf document? How to sign a pdf document using the Internet? If the PDF document is not saved in the folder, how to save the file in another folder? How to create a PDF for the website? To sign a PDF in a computer, how to sign the pdf document through computer? Which programs will I need to use to create a PDF? How to create a PDF in an electronic book? How to create a pdf in Windows PowerPoint? For more than the above information, do not forget to check our PDF tutorial to become an expert in the subject.

How to digitally sign pdf that has no digital signature field?

It's just the first one. And it's not even that complex. You just need: A PDF file that has a digital signature field on it. Some text or something else that will be digitally signed by the document, so other programs can read it without the signature. And the rest is just formatting, with some extra text to make it really nice so others can read it too. Here's how to do it: Step 1: Copy the PDF's signature and make a new PDF out of it. This can be as small as a few lines, but in my experience the best size is about 10 lines. In this file, you'll also need to get rid of any formatting. (Or you could just change the signature, but then you need to make your own format for the text so they can read it without the signature.) Step 2. Now, print the "new" PDF. If you want to use some other program (like Google Pages), just use that program. If you want to have your printer print it right to you, use a PDF printer. The one I use is called PDF Expert, and it's free. Now, you need to get a text file that will be digitally signed by the document. You can do that by typing the text right in that new PDF. For example: <a href=> <strong>This is our digital signature</strong> </a> You'll need that file and your signature. Step 3: In that newly created PDF file, make sure the first line is "The following text is being digitally signed by ...". That's a way of telling the program that this PDF is an example of the digital signature and the text you want to sign must also...