Philip Leatherwood, Lecturer

Kazakhstan Institute of Management, Economics, and Strategic Planning

27 February, 2001

Quiz (Use your own paper, please. Remember to include your student number.)

1. Describe any three of the following:

1. The Phillip's Curve
2. Okun's Law
3. Supply Side Economics
4. Laffer Curve

2. Explain one of the above.

• Developing the Phillip's Curve
• Implications for policy
• Supply shocks
• Supply side economics
• Laffer Curve
• The role of expectations on monetary policy effectiveness
• Monetarist School
• Neo Classical School

• Discussion of "The United States Stock Market: the Party's Over" from The Globe, 23 February and The Economist
• Deriving Labor Supply
• Midterm Review—Please come to class with questions about topics we have covered to this point.