EC4004 Lecture 2: When Macreconomics doesn’t work
“You know, we’re not used to this, not having enough food,” said Orresta, with a hint of embarrassment in her voice.
She paused, and began to weep.
“You can’t know what it’s like to see your children hungry and feel helpless to stop it,” she said.
“The food is there, in the grocery store, but you just can’t afford to buy it anymore. My husband keeps working, but he keeps bringing home less and less. We never had much, but we always had food, no matter how bad things got. But these are not normal times.”
Introduction
Macroeconomics is concerned with the analysis of aggregate fluctuations. The consequences for ordinary people when macroeconomic stability is compromised can be severe.
In this lecture, we’ll study the case of Argentina in the 1990’s. You can see from Gapminder that Argentina has had a rough ride in terms of GDP per capita over the last 50 years. We will see examples of this in the story of 
Oresta and her family.
Click the link below to download handouts, slides, and get links to further readings.
Slides
Handouts
EC4004_Lecture2” title=”EC4004_Lecture2_Handout.pdf”>EC4004_Lecture2
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