宏观经济学课件(英文版)
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曼昆《经济学原理》(宏观经济学分册)英文原版PPT课件
© 2007 Thomson South-Western
Table 2 Real and Nominal GDP
© 2007 Thomson South-Western
Table 2 Real and Nominal GDP
© 2007 Thomson South-Western
Table 2 Real and Nominal GDP
© 2007 Thomson South-Western
THE ECONOMY’S INCOME AND EXPENDITURE
• When judging whether the economy is doing well or poorly, it is natural to look at the total income that everyone in the economy is earning.
Y = C + I + G + NX
© 2007 Thomson South-Western
THE COMPONENTS OF GDP
• Consumption (C):
• The spending by households on goods and services, with the exception of purchases of new housing.
© 2007 Thomson South-Western
THE MEASUREMENT OF GROSS DOMESTIC PRODUCT
• The equality of income and expenditure can be illustrated with the circular-flow diagram.
宏观经济学英文课件 (2)
Capital Input
• The Demand for Capital Services
– Firms maximize real profit
• π/P= A·F[(κK)d, Ld)] −(w/P) · Ld− (R/P)·(κK)d
Capital Input
Capital Input
– Net real income from supplying capital services = K·[(R/P)·κ − δ(κ)]
Capital Input
• The Supply of Capital Services
– Rate of return from owning capital = ( R/P)·κ − δ(κ)
Capital Input
• Market Clearing and Capital Utilization
– i = (R/ P) · κ − δ(κ) – Rate of return on bonds
= rate of return on ownership of capital
– Increase in the technology level, A, raises the rate of return from owning capital, the interest rate, i, increases. The interest rate is still procyclical in the model.
Capital Utilization and Unemployment
Capital Input
• Capital utilization rate
– The fraction of the capital stock used in production. – κ (the Greek letter kappa) represent the utilization rate for the capital stock, K. – Y= A· F(κ K, L)
宏观经济学课件(英文版)14
real deficit is the same as the government's real dissaving. If the right-hand side of equation (14.4) equals zero, the government has a balanced budget. In this case, the government's real saving equals zero.
5
The History of the Public Debt in the United States and the United Kingdom
6
Characteristics of Government Bonds
In the model, the government can now borrow funds from households by issuing interest-bearing bonds. We assume that these government bonds pay interest and principal in the same way as the private bonds in the model. In particular, we continue to simplify by assuming that all bonds have very short maturity.
21
The Budget Deficit
22
Inflation and the Budget Deficit in the National Accounts
23
Inflation and the Budget Deficit in the National Accounts
5
The History of the Public Debt in the United States and the United Kingdom
6
Characteristics of Government Bonds
In the model, the government can now borrow funds from households by issuing interest-bearing bonds. We assume that these government bonds pay interest and principal in the same way as the private bonds in the model. In particular, we continue to simplify by assuming that all bonds have very short maturity.
21
The Budget Deficit
22
Inflation and the Budget Deficit in the National Accounts
23
Inflation and the Budget Deficit in the National Accounts
宏观经济学英文PPT课件
Macro Economics
Gross Domestic Product
In this chapter, look for the answers to these questions:
What is Gross Domestic Product (GDP)?
How is GDP related to a nation’s total income and spending?
Gross Domestic Product (GDP) measures total income of everyone in the economy. GDP also measures total expenditure on the economy’s output of g&s.
For the economy as a whole, income equals expenditure, because
Macroeconomics: The study of the economy as a whole.
We begin our study of macroeconomics with the country’s total income and expenditure.
Income and Expenditure
Intermediate goods: used as components or ingredients in the production of other goods
GDP only includes final goods – they already embody the value of the intermediate goods used in their production.
Gross Domestic Product
In this chapter, look for the answers to these questions:
What is Gross Domestic Product (GDP)?
How is GDP related to a nation’s total income and spending?
Gross Domestic Product (GDP) measures total income of everyone in the economy. GDP also measures total expenditure on the economy’s output of g&s.
For the economy as a whole, income equals expenditure, because
Macroeconomics: The study of the economy as a whole.
We begin our study of macroeconomics with the country’s total income and expenditure.
Income and Expenditure
Intermediate goods: used as components or ingredients in the production of other goods
GDP only includes final goods – they already embody the value of the intermediate goods used in their production.
曼昆《经济学原理》(宏观经济学分册)英文原版PPT课件
© 2007 Thomson South-Western
THE COMPONENTS OF GDP • GDP includes all items produced in the economy and sold legally n markets. • What Is Not Counted in GDP?
– Every transaction has a buyer and a seller. – Every dollar of spending by some buyer is a dollar of income for some seller.
© 2007 Thomson South-Western
Y = C + I + G + NX
© 2007 Thomson South-Western
THE COMPONENTS OF GDP • Consumption (C):
• The spending by households on goods and services, with the exception of purchases of new housing. • Investment (I):
© 2007 Thomson South-Western
Table 2 Real and Nominal GDP
© 2007 Thomson South-Western
Table 2 Real and Nominal GDP
© 2007 Thomson South-Western
Table 2 Real and Nominal GDP
• “. . . Final . . .” – It records only the value of final goods, not intermediate goods (the value is counted only once).
THE COMPONENTS OF GDP • GDP includes all items produced in the economy and sold legally n markets. • What Is Not Counted in GDP?
– Every transaction has a buyer and a seller. – Every dollar of spending by some buyer is a dollar of income for some seller.
© 2007 Thomson South-Western
Y = C + I + G + NX
© 2007 Thomson South-Western
THE COMPONENTS OF GDP • Consumption (C):
• The spending by households on goods and services, with the exception of purchases of new housing. • Investment (I):
© 2007 Thomson South-Western
Table 2 Real and Nominal GDP
© 2007 Thomson South-Western
Table 2 Real and Nominal GDP
© 2007 Thomson South-Western
Table 2 Real and Nominal GDP
• “. . . Final . . .” – It records only the value of final goods, not intermediate goods (the value is counted only once).
宏观经济学课件(英文版)
GDP Composition
The breakdown of GDP into its various components, such as consumption, investment, government spending, and net exports.
VS
A measure of the percentage of the labor force that is jobless and actively seeking employment.
04
Fiscal Policy and Government Speing is a significant component of the economy, representing a significant share of GDP.
Government spending can also act as a stabilizer during economic downturns, stimulating growth and absorbing economic shocks.
05
Monetary Policy and Central Bank Operations
The main monetary policy tools used by central banks are open market operations, reserve requirements, and interest rate policy.
02
Examples include stimulus packages during the Great Recession, infrastructure spending programs, and social welfare policies.
The breakdown of GDP into its various components, such as consumption, investment, government spending, and net exports.
VS
A measure of the percentage of the labor force that is jobless and actively seeking employment.
04
Fiscal Policy and Government Speing is a significant component of the economy, representing a significant share of GDP.
Government spending can also act as a stabilizer during economic downturns, stimulating growth and absorbing economic shocks.
05
Monetary Policy and Central Bank Operations
The main monetary policy tools used by central banks are open market operations, reserve requirements, and interest rate policy.
02
Examples include stimulus packages during the Great Recession, infrastructure spending programs, and social welfare policies.
宏观经济学英文课件
slide 2
Important issues in macroeconomics
▪ What is the government budget deficit?
How does it affect the economy?
▪ Why does the U.S. have such a huge trade
and aggregate income.
CHAPTER 1 The Science of Macroeconomics
slide 15
Digression: Functional notation
▪ General functional notation shows only
that the variables are related:
even when the economy is booming?
▪ Why are there recessions?
Can the government do anything to combat recessions? Should it??
CHAPTER 1 The Science of Macroeconomics
D
Q
Quantity of cars
CHAPTER 1 The Science of Macroeconomics
deficit?
▪ Why are so many countries poor?
What policies might help them grow out of poverty?
CHAPTER 1 The Science of Macroeconomics
slide 3
U.S. Gross Domestic Product
英文版宏观经济学——国民收入与市场均衡课件
• • • • In two sector modle,there exist such equation AD=AS C+I=C+S I=S
National income(2 sector)
• Method 1: calculated by AD-AS • condition: equilibrium in Y=C+I
Consumption function
C MPC y
C APC y
Consumption function
The image of consumption function. In which the slope (斜率）is MPC, and the intercept（截距） is autonomous consumption
Brief introduce
• foreign trade multiplier
Y C cTR c(1 t )Y I 0 G X (M 0 mY ) dY c(1 t )dY dX mdY Y 1 KX X 1 c(1 t ) m
I S , S C0 (1 c)Y
C C0 cY
C0 I 0 Y 1 c
National income(2 sector)
• Paradox of thrift(节俭悖论)
• The paradox states that if everyone tries to save more money during times of economic recession, there individual wealth would grow. But then aggregat demand will fall and will in turn lower total savings in the population because of the decrease in consumption. The paradox is, narrowly speaking, that total savings may fall even when individual savings attempt to rise, and, broadly speaking, individual economy my be contradict with the society ‘s economy.
National income(2 sector)
• Method 1: calculated by AD-AS • condition: equilibrium in Y=C+I
Consumption function
C MPC y
C APC y
Consumption function
The image of consumption function. In which the slope (斜率）is MPC, and the intercept（截距） is autonomous consumption
Brief introduce
• foreign trade multiplier
Y C cTR c(1 t )Y I 0 G X (M 0 mY ) dY c(1 t )dY dX mdY Y 1 KX X 1 c(1 t ) m
I S , S C0 (1 c)Y
C C0 cY
C0 I 0 Y 1 c
National income(2 sector)
• Paradox of thrift(节俭悖论)
• The paradox states that if everyone tries to save more money during times of economic recession, there individual wealth would grow. But then aggregat demand will fall and will in turn lower total savings in the population because of the decrease in consumption. The paradox is, narrowly speaking, that total savings may fall even when individual savings attempt to rise, and, broadly speaking, individual economy my be contradict with the society ‘s economy.
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13
The Government’s Budget Constraint
14
The Government’s Budget Constraint
15
The Budget Deficit
16
The Budget Deficit
If the government owned capital, its net real assets would include this capital.
In particular, we continue to simplify by assuming that all bonds have very short maturity.
7
Characteristics of Government Bonds
We also assume that, like private bonds, government bonds specify nominal amounts of principal and interest.
17
The Budget Deficit
18
The Budget Deficit
19
The Budget Deficit
If the right-hand side of equation (14.4) is greater than zero, the government’s revenue exceeds its expenditure. Economists describe this situation as a budget surplus.
4
The History of the Public Debt in the United States and the United Kingdom
5
The History of the Public Debt in the United States and the United Kingdom
A budget deficit means that the quantity of public debt increases over time.
3
The History of the Public Debt in the United States and the United Kingdom
Chapter 14 The Public Debt
1
The Public Debt
In recent years, one of the most controversial economic issues has been the government’s budget deficit.
At least from reading the newspapers, we would think that the economy suffers greatly when the government runs a deficit.
6
Characteristics of Government Bonds
In the model, the government can now borrow funds from households by issuing interest-bearing bonds.
We assume that these government bonds pay interest and principal in the same way as the private bonds in the model.
As we shall see, our conclusions depart dramatically from those expressed in the newspapers.
2பைடு நூலகம்
The Public Debt
Budget deficits arise when the government finances part of its expenditures by issuing interest-bearing government bonds—public debt—rather than levying taxes.
9
Characteristics of Government Bonds
10
Characteristics of Government Bonds
11
Budget Constraints and Budget Deficits
12
The Government’s Budget Constraint
That is, we do not consider indexed bonds, which we discussed in chapter 11.
8
Characteristics of Government Bonds
We assume that bondholders (households in our model) regard government bonds as equivalent to private bonds.
In that case, an increase in government owned capital stock—called net public investment—would mean that the government had more net real assets.
Thus, an increase in net public investment means that the government is saving more or dissaving less in real terms.
Specifically, we do not allow for the possibility that private bonds are riskier than government bonds in terms of the probability of default.
In this case, households would hold the two kinds of bonds only if they paid the same nominal interest rate, i.
The Government’s Budget Constraint
14
The Government’s Budget Constraint
15
The Budget Deficit
16
The Budget Deficit
If the government owned capital, its net real assets would include this capital.
In particular, we continue to simplify by assuming that all bonds have very short maturity.
7
Characteristics of Government Bonds
We also assume that, like private bonds, government bonds specify nominal amounts of principal and interest.
17
The Budget Deficit
18
The Budget Deficit
19
The Budget Deficit
If the right-hand side of equation (14.4) is greater than zero, the government’s revenue exceeds its expenditure. Economists describe this situation as a budget surplus.
4
The History of the Public Debt in the United States and the United Kingdom
5
The History of the Public Debt in the United States and the United Kingdom
A budget deficit means that the quantity of public debt increases over time.
3
The History of the Public Debt in the United States and the United Kingdom
Chapter 14 The Public Debt
1
The Public Debt
In recent years, one of the most controversial economic issues has been the government’s budget deficit.
At least from reading the newspapers, we would think that the economy suffers greatly when the government runs a deficit.
6
Characteristics of Government Bonds
In the model, the government can now borrow funds from households by issuing interest-bearing bonds.
We assume that these government bonds pay interest and principal in the same way as the private bonds in the model.
As we shall see, our conclusions depart dramatically from those expressed in the newspapers.
2பைடு நூலகம்
The Public Debt
Budget deficits arise when the government finances part of its expenditures by issuing interest-bearing government bonds—public debt—rather than levying taxes.
9
Characteristics of Government Bonds
10
Characteristics of Government Bonds
11
Budget Constraints and Budget Deficits
12
The Government’s Budget Constraint
That is, we do not consider indexed bonds, which we discussed in chapter 11.
8
Characteristics of Government Bonds
We assume that bondholders (households in our model) regard government bonds as equivalent to private bonds.
In that case, an increase in government owned capital stock—called net public investment—would mean that the government had more net real assets.
Thus, an increase in net public investment means that the government is saving more or dissaving less in real terms.
Specifically, we do not allow for the possibility that private bonds are riskier than government bonds in terms of the probability of default.
In this case, households would hold the two kinds of bonds only if they paid the same nominal interest rate, i.