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Review lectures #255

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8 changes: 4 additions & 4 deletions lectures/business_cycle.md
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Expand Up @@ -16,7 +16,7 @@ kernelspec:

## Overview

In this lecture, we review some empirical aspects of business cycles.
In this lecture we review some empirical aspects of business cycles.

Business cycles are fluctuations in economic activity over time.

Expand Down Expand Up @@ -94,7 +94,7 @@ wb.series.metadata.get('NY.GDP.MKTP.KD.ZG')
(gdp_growth)=
## GDP growth rate

First, we look at GDP growth.
First we look at GDP growth.

Let's source our data from the World Bank and clean it.

Expand Down Expand Up @@ -289,7 +289,7 @@ plt.show()
Greece experienced a very large drop in GDP growth around 2010-2011, during the peak
of the Greek debt crisis.

Next, let's consider Argentina.
Next let's consider Argentina.

```{code-cell} ipython3
---
Expand Down Expand Up @@ -587,7 +587,7 @@ unempl_rate.columns = unempl_rate.columns.str.replace('YR', '').astype(int)
fig, ax = plt.subplots()

countries = ['United Kingdom', 'United States', 'Japan', 'France']
ylabel = 'Unemployment rate (national estimate) (%)'
ylabel = 'unemployment rate (national estimate) (%)'
plot_comparison(unempl_rate, countries,
ylabel, 0.05, None, ax, g_params,
b_params, t_params, baseline=None)
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8 changes: 4 additions & 4 deletions lectures/inequality.md
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Expand Up @@ -59,7 +59,7 @@ shape our findings reduces objectivity.
To bring a truly scientific perspective to the topic of inequality we must
start with careful definitions.

In this lecture, we discuss standard measures of inequality used in economic research.
In this lecture we discuss standard measures of inequality used in economic research.

For each of these measures, we will look at both simulated and real data.

Expand All @@ -86,7 +86,7 @@ from interpolation import interp

One popular measure of inequality is the Lorenz curve.

In this section, we define the Lorenz curve and examine its properties.
In this section we define the Lorenz curve and examine its properties.


### Definition
Expand Down Expand Up @@ -274,7 +274,7 @@ Another popular measure of income and wealth inequality is the Gini coefficient.

The Gini coefficient is just a number, rather than a curve.

In this section, we discuss the Gini coefficient and its relationship to the
In this section we discuss the Gini coefficient and its relationship to the
Lorenz curve.


Expand Down Expand Up @@ -345,7 +345,7 @@ lognormal distribution with parameters $\mu$ (mean) and $\sigma$ (standard devia
To create the five populations, we vary $\sigma$ over a grid of length $5$
between $0.2$ and $4$.

In each case, we set $\mu = - \sigma^2 / 2$.
In each case we set $\mu = - \sigma^2 / 2$.

This implies that the mean of the distribution does not change with $\sigma$.

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