曼昆宏观经济学第七版英文课件第八章
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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.
曼昆宏观经济学第七版英文课件第八章
( + n + g)k = break-even investment: the amount of investment necessary to keep k constant.
Consists of: k to replace depreciating capital
n k to provide capital for new workers g k to provide capital for the new “effective”
CHAPTER 8
Economic Growth II
5
Technological progress in the Solow model
We now write the production function as:
where L ×E = the number of effective workers. Increases in labor efficiency have the
If true, then the income gap between rich & poor
countries would shrink over time, causing living standards to “converge.”
In real world, many poor countries do NOT grow
CHAPTER 8Fra bibliotekEconomic Growth II
3
Examples of technological progress
From 1950 to 2000, U.S. farm sector productivity
Consists of: k to replace depreciating capital
n k to provide capital for new workers g k to provide capital for the new “effective”
CHAPTER 8
Economic Growth II
5
Technological progress in the Solow model
We now write the production function as:
where L ×E = the number of effective workers. Increases in labor efficiency have the
If true, then the income gap between rich & poor
countries would shrink over time, causing living standards to “converge.”
In real world, many poor countries do NOT grow
CHAPTER 8Fra bibliotekEconomic Growth II
3
Examples of technological progress
From 1950 to 2000, U.S. farm sector productivity
中文曼昆宏观经济学第七版讲义
13
Assumptions about capital flows
a. domestic & foreign bonds are perfect substitutes (same risk, maturity, etc.)
b. perfect capital mobility: no restrictions on international trade in assets
I (r* )
S, I
CHAPTER 5 The Open Economy
15
If the economy were closed…
r
…the interest rate would adjust to equate investment
and saving: rc
S
I (r )
CHAPTER 5 The Open Economy
I (rc ) S
S, I
16
But in a small open economy…
r
the exogenous
world interest
rate determines
investment…
r*
…and the
difference
rc
between saving
and investment
determines net
5
The national income identity in an open economy
Y = C + I + G + NX
or, NX = Y – (C + I + G )
net exports
昆曼围观经济学原理英文课件第八章
A PB B D C E
S
PS
F
D
QT
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
P
A PB B D C E
S
PS
F
D
QT
QE
Q
7
The Effects of a Tax
P
C + E is called the deadweight loss (DWL) of the tax, the fall in total surplus that results from a market distortion, such as a tax.
Wojciech Gerson (1831-1901)
Economics
Principles of
In this chapter, look for the answers to these questions
• How does a tax affect consumer surplus,
producer surplus, and total surplus?
Review from Chapter 6
A tax drives a wedge between the price buyers pay and the price sellers receive. raises the price buyers pay and lowers the price sellers receive. reduces the quantity bought & sold. These effects are the same whether the tax is imposed on buyers or sellers, so we do not make this distinction in this chapter.
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).
中文曼昆宏观经济学第七版讲义
foreign assets
▪ Foreigners owned $21.1 trillion worth of
U.S. assets
▪ U.S. net indebtedness to rest of the world:
$2.7 trillion--higher than any other country, hence U.S. is the “world’s largest debtor nation”
Y = C + I + G + NX
or, NX = Y – (C + I + G )
net exports
output
domestic spending
CHAPTER 5 The Open Economy
6
Trade surpluses and deficits
NX = EX – IM = Y – (C + I + G )
are determined
▪ how policies affect trade balance &
exchange rate
Imports and exports (% of GDP), 2019
In an open economy, ▪ spending need not equal output ▪ saving need not equal investment
▪ trade surplus:
output > spending and exports > imports Size of the trade surplus = NX
▪ trade deficit:
▪ Foreigners owned $21.1 trillion worth of
U.S. assets
▪ U.S. net indebtedness to rest of the world:
$2.7 trillion--higher than any other country, hence U.S. is the “world’s largest debtor nation”
Y = C + I + G + NX
or, NX = Y – (C + I + G )
net exports
output
domestic spending
CHAPTER 5 The Open Economy
6
Trade surpluses and deficits
NX = EX – IM = Y – (C + I + G )
are determined
▪ how policies affect trade balance &
exchange rate
Imports and exports (% of GDP), 2019
In an open economy, ▪ spending need not equal output ▪ saving need not equal investment
▪ trade surplus:
output > spending and exports > imports Size of the trade surplus = NX
▪ trade deficit:
曼昆经济学原理英文课件Chap08
Price sellers receive
Size of tax (T)
Supply
Quantity sold (Q)
0
Quantity Quantity
with tax without tax
Demand
Quantity
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
It does not matter whether a tax on a good is levied on buyers or sellers of the good…the price paid by buyers rises, and the price received by sellers falls.
Tax Distortions and Elasticities...
Price
(d) Elastic Demand Supply
Size of tax
0
When demand is relatively elastic, the deadweight loss of a tax is large.
How a Tax Affects Welfare...
Price
Tax reduces consumer surplus by (B+C) and producer surplus by (D+E)
Price
buyers
A
pay = PB
Tax revenue = (B+D) Supply
Price
Size of tax
Supply
第七版-曼昆宏观经济学课件
18
两部门国民收入流量循环图
生产要素市场
Y
工资，租金，利息，利润
家 庭 储蓄 金融机构 投资 企 业
S
I
购买各种产品和劳务
C 商品市场
总收入
2019/12/31
C+S =Y= C+I
总支出
19
三部门国民收入流量循环图
TR
G
政府
TA1 Y
TA2
家庭 S
金融机构 I
总
收 入
C
C+S+（TA-TR）= Y = C+I+G
5) GDP 是一国范围内生产的最终产品和 劳务的市场价值。
6) GDP一般仅指市场活动导致的价值。
2019/12/31
6
3.名义的GDP和实际的GDP
1) 名义的GDP(Nominal GDP)
以一定时期市场价格表示的国内生产
总值，称作该时期的名义的GDP。
2) 实际的GDP(Real GDP)
3. 国民收入(NI)National Income NI = NDP-间接税-企业转移支付+政府补贴
4.个人收入(PI)Personal Income PI=NI-公司未分配利润-公司所得税-社会保险
税+政府对个人的转移支付 5. 个人可支配收入(PDI)
Personal Disposable Income PDI = PI - 个人所得税
2019/12/31
12
部门法
一块面包的GDP的部门法核算
生产部门
市场价值（元） 附加价值（元）
农资公司（种子化肥）
0.10
0.10
农场（种小麦）
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SEVEchapter, you will learn:
how to incorporate technological progress in
the Solow model
CHAPTER 8
Economic Growth II
5
Technological progress in the Solow model
We now write the production function as:
where L ×E = the number of effective workers. Increases in labor efficiency have the
( + n + g)k = break-even investment: the amount of investment necessary to keep k constant.
Consists of: k to replace depreciating capital
n k to provide capital for new workers g k to provide capital for the new “effective”
about policies to promote growth about growth empirics: confronting the
theory with facts
two simple models in which the rate of
technological progress is endogenous
Economic Growth II
4
CHAPTER 8
Technological progress in the Solow model A new variable: E = labor efficiency Assume:
Technological progress is labor-augmenting: it increases labor efficiency at the exogenous rate g:
CHAPTER 8
Economic Growth II
3
Examples of technological progress
From 1950 to 2000, U.S. farm sector productivity
nearly tripled. The real price of computer power has fallen an average of 30% per year over the past three decades. Percentage of U.S. households with ≥ 1 computers: 8% in 1984, 62% in 2003 1981: 213 computers connected to the Internet 2000: 60 million computers connected to the Internet 2001: iPod capacity = 5gb, 1000 songs. Not capable of playing episodes of True Blood. 2009: iPod capacity = 120gb, 30,000 songs. Can play episodes of True Blood.
workers created by technological progress
CHAPTER 8
Economic Growth II
8
Technological progress in the Solow model
MACROECONOMICS
N. Gregory Mankiw
PowerPoint® Slides by Ron Cronovich
CHAPTER
8
Economic Growth II: Technology, Empirics, and Policy
Modified for EC 204 by Bob Murphy
Introduction
In the Solow model of Chapter 7, the production technology is held constant. income per capita is constant in the steady state. Neither point is true in the real world: 1908-2008: U.S. real GDP per person grew by a factor of 7.8, or 2.05% per year. examples of technological progress abound (see next slide).
Production function per effective worker:
y = f(k)
Saving and investment per effective worker:
s y = s f(k )
CHAPTER 8
Economic Growth II
7
Technological progress in the Solow model
same effect on output as increases in the labor force.
CHAPTER 8
Economic Growth II
6
Technological progress in the Solow model
Notation:
y = Y/LE = output per effective worker k = K/LE = capital per effective worker
SEVEchapter, you will learn:
how to incorporate technological progress in
the Solow model
CHAPTER 8
Economic Growth II
5
Technological progress in the Solow model
We now write the production function as:
where L ×E = the number of effective workers. Increases in labor efficiency have the
( + n + g)k = break-even investment: the amount of investment necessary to keep k constant.
Consists of: k to replace depreciating capital
n k to provide capital for new workers g k to provide capital for the new “effective”
about policies to promote growth about growth empirics: confronting the
theory with facts
two simple models in which the rate of
technological progress is endogenous
Economic Growth II
4
CHAPTER 8
Technological progress in the Solow model A new variable: E = labor efficiency Assume:
Technological progress is labor-augmenting: it increases labor efficiency at the exogenous rate g:
CHAPTER 8
Economic Growth II
3
Examples of technological progress
From 1950 to 2000, U.S. farm sector productivity
nearly tripled. The real price of computer power has fallen an average of 30% per year over the past three decades. Percentage of U.S. households with ≥ 1 computers: 8% in 1984, 62% in 2003 1981: 213 computers connected to the Internet 2000: 60 million computers connected to the Internet 2001: iPod capacity = 5gb, 1000 songs. Not capable of playing episodes of True Blood. 2009: iPod capacity = 120gb, 30,000 songs. Can play episodes of True Blood.
workers created by technological progress
CHAPTER 8
Economic Growth II
8
Technological progress in the Solow model
MACROECONOMICS
N. Gregory Mankiw
PowerPoint® Slides by Ron Cronovich
CHAPTER
8
Economic Growth II: Technology, Empirics, and Policy
Modified for EC 204 by Bob Murphy
Introduction
In the Solow model of Chapter 7, the production technology is held constant. income per capita is constant in the steady state. Neither point is true in the real world: 1908-2008: U.S. real GDP per person grew by a factor of 7.8, or 2.05% per year. examples of technological progress abound (see next slide).
Production function per effective worker:
y = f(k)
Saving and investment per effective worker:
s y = s f(k )
CHAPTER 8
Economic Growth II
7
Technological progress in the Solow model
same effect on output as increases in the labor force.
CHAPTER 8
Economic Growth II
6
Technological progress in the Solow model
Notation:
y = Y/LE = output per effective worker k = K/LE = capital per effective worker