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[MUSIC]
Well, I do hope you've enjoyed this
introductory course in the principles of macroeconomics.
I also hope that I've convinced you about the real power of
this subject to help you in both your personal and professional lives.
At this point, I would humbly like to suggest that you
commit to making the study of macro economics a life long endeavor.
I do not mean that you necessarily have to
go to the intermediate and advanced levels of macroeconomics
in an academic environment.
Instead what I'm asking you to do is to commit yourself to further building your
economic and finiancial market literacy by regularly
following the financial press on a daily basis.
This financial press comes in many forms.
For example, in daily newspapers like the Financial Times.
Investors Business Daily and the Wall Street Journal, or in weekly
magazines like Barron's and the Economist.
In addition to these print venues there are
also cable networks such as Bloomberg TV and CNBC.
My suggestion here is that you use a digital video
recorder like Tivo, to record CNBC or Bloomberg every weekday morning.
Just after the stock and bond markets open, this really is the best
time to watch these financial networks as
their analysts will help you interpret events
as they may affect both the economy and stock market.
Of course, I'm talking about events like a Federal Reserve rate hike.
A sharp drop in the unemployment rate, a drought
affecting crop prices, an oil price shock, and so on.
Given what you've learned in this course, you
really should have all the tools you need to
interpret how such events might affect everything from
your stock portfolio, to your job or your business.
As a follow-up
to this course, I also urge you
to consider learning the art of stock trading.
I'm certainly not suggesting you do this with real
money at the beginning, you will almost surely loose.
However, there are websites like
www.stocktrak.com and www.wallstreetsurvivor.com, that do
allow you to trade stocks Using what is essentially play money.
I strongly urge you to try this out.
It's a lot of fun and you should learn very
quickly how broad macroeconomic events affect movements in the financial markets.
And, as you accumulate wealth over the course of your life,
this knowledge and your stocks trading skills, should serve you well.
2:23
At any rate, thanks for spending all that time
and hard work on mastering the principles of macroeconomics.
While money certainly isn't everything, financial
prosperity and security can be important components
of everyone's quality of life, and if you
really understand how broad macroeconomical forces affect you.
You really will do much better with your finances when it is all said and done.
So, good luck to you and do feel free to look
at some of the recommended readings to further expand your horizons.
If you found this class interesting, you may also be pleased
to know that there is a companion course that teaches the principles
of microeconomics as well.
So take care, I'm Peter Navarro from University of Calfornia Irvine.
I hope to meet you down the road.
[MUSIC]
Dr. Peter NavarroProfessor
