macroeconomics (4)
宏观经济学课程简介英文模板
M acroeconomicsCourse Code: 62094000Course Name: MacroeconomicsCourse Credit: 4 Course Duration: Three SemestersTeaching Object: All Undergraduate Students who Studying Economics and Management Pre-course:MicroeconomicsCourse Director: Zuo Feng Associate Professor MasterCourse Introduction:Macroeconomics is a basic obligatory courses for all undergraduate students who studying economics and management. As an important part of economics, this course offers an overall picture of the operation of our economy. The course focuses on how the economic system determines the level of national income, the unemployment rate, and the rate of inflation. Fiscal, monetary, and supply-side policies are discussed.Practical Activities:Students are required to carry out some practical operations on the Internet under the teacher’s guidance. The teacher will give students some appointed tasks or let students find retrieval subjects that they are interested in, then students are required to complete these tasks with the help of what they have learnt in this course. During this process, the teacher should track students’performance in time, pay attention to students’ operation process and result, solve problems for students and give assessment and advice according to students’ performance.Course Examination:The final exam will be an close-book exam. In the students’ final scores, the proportion of the scores of ordinary tests doesn’t preponderate over 30%, and the proportion of the scores of final exam is not under 70%.Appointed Teaching Materials:Gao Hongye. Macroeconomics(4edition), Beijing: China Renmin University Press,2007.Bibliography:[1] Paul A．Samuelson，William D．Nordhaus Macroeconomics McGraw-Hill Companies，Inc．1998[2] Dornbusch，Fischer，Startz Macroeconomics China Financial and Economics Publishing House 2003。
微观经济学 microeconomics Chapter_4
When the price is RM2.00, Zarina will demand 4 icecream cones.
Zarina’s Demand
Price of IceCream Cone
When the price is RM2.00, Nathan will demand 3 icecream cones.
1.00
4
8
3
5
7
13
Quantity of Ice-Cream Cones
Quantity of Ice-Cream Cones
Quantity of Ice-Cream Cones
When the price is RM1.00, Zarina will demand 8 icecream cones.
Nathan’s Demand
The market demand at RM2.00 will be 7 ice-cream cones.
Market Demand
+
=
Price of IceCream Cone
Price of IceCream Cone
2.00
2.00 1.00
2.00 1.00
Figure 1 Zarina’s Demand Schedule and Demand Curve
Price of Ice-Cream Cone
RM3.00 2.50 1. A decrease in price ... 2.00 1.50 1.00
0.50
0 1 2 3 4 5 6 7 8 9 10 11 12 Quantity of Ice-Cream Cones 2. ... increases quantity of cones demanded.
微观经济学(1——4章)习题汇总,含答案
第一章微观经济学绪论一、名词解释1．经济学(economics)是研究如何将稀缺的资源有效地配置于相互竞争的用途之中以使人类欲望得到最大满足的科学。
经济学的目标是有效利用稀缺资源来生产商品和劳务，并在现在或将来把它们合理地分配给社会成员或集团以供消费之用。
2．资源的稀缺性(scarcity)是指人们的欲望总是超过了能用于满足欲望的资源时的状态。
3．微观经济学(microeconomics)是主要以单个经济主体(即作为消费者的单个家庭或个人、作为生产者的单个厂商或企业以及单个产品或要素市场)为研究对象，研究这些单个经济主体面对既定的资源约束时如何选择以实现其最优配置的科学。
4．宏观经济学(macroeconomics)是以整个国民经济为研究对象，其主要着眼于对经济总量的研究，如国民生产总值的水平及其增长率、利率、失业，以及通货膨胀等。
宏观经济学研究的是总体经济行为与总量经济的关系。
5．实证分析(positive analysis)是描述经济现象“是什么”以及“社会经济问题实际上是如何解决的”等问题时所使用的方法。
这种方法旨在揭示有关经济变量之间的函数关系和因果关系，其局限在于仅对能证实的观点进行分析。
6．规范分析(normal analysis)是研究经济活动“应该是什么”以及“社会经济问题应该是怎样解决的”等问题时所使用的方法。
这种分析方法一般是以一定的价值判断为基础，突出某些准则作为经济理论的前提和指定政策的依据，并考察如何才能符合这些准则。
这种方法表达了对某一经济主题的个人的或集体的观点或价值判断，但难以通过事实证明是对是错。
7．均衡分析(equilibrium analysis)是指假定其他因素不变的条件下，研究经济主体决策时的各种变量能够达到均衡时应具备的条件的方法。
均衡分析可以分为局部均衡分析(partial equilibrium analysis)和一般均衡分析(general equilibrium analysis)。
macroeconmic常见词组
macroeconmic常见词组宏观经济学是研究整体经济现象和经济体运行规律的学科，其涉及的词组在经济领域中非常常见。
下面是一些常见的宏观经济学词组及其解释：1. 国内生产总值（Gross Domestic Product，GDP）：衡量一个国家或地区经济活动总量的指标，是宏观经济学中最重要的衡量指标之一。
2. 通货膨胀（Inflation）：指货币的购买力下降，物价普遍上涨的经济现象。
3. 失业率（Unemployment Rate）：衡量一个国家或地区劳动力市场上的失业程度的指标。
4. 货币政策（Monetary Policy）：由中央银行制定和执行的旨在控制经济活动和通货膨胀的政策。
5. 财政政策（Fiscal Policy）：由政府制定和执行的通过调整税收和支出来影响经济活动的政策。
6. 国际收支（Balance of Payments）：一个国家或地区与其他国家或地区之间的经济交易的总和。
7. 汇率（Exchange Rate）：一个国家货币兑换另一个国家货币的比率。
8. 经济增长（Economic Growth）：指一个国家或地区的实际GDP在一段时间内的增加。
9. 供给与需求（Supply and Demand）：描述市场中商品和服务的供给量和需求量之间的关系。
10. 资本市场（Capital Markets）：提供融资和投资机会的市场，包括股票市场和债券市场等。
11. 贸易保护主义（Trade Protectionism）：指通过限制进口、征收关税或实施其他贸易限制措施来保护本国产业免受国外竞争的经济政策。
12. 供给侧改革（Supply-side Reform）：通过改善供给条件，推动经济增长和提高生产率的改革措施。
13. 货币供应量（Money Supply）：指在一个国家或地区流通的货币总量。
14. 经济周期（Business Cycle）：经济活动的周期性波动，包括繁荣、衰退、萧条和复苏阶段。
黄亚钧《宏观经济学》(第4版)笔记和课后习题(含考研真题)详解
Macroeconomics宏观经济学共8页文档
MacroeconomicsPart I IntroductionChapter 1 The Science of Macroeconomics【Mainpoints】1.Exogenous Variables and Endogenous VariablesExample: The total quantity and price level of pizza in a country.Exogenous variables are given in a model. [aggregate income, price of materials]Endogenous variables are what a model explains. [price level and total quantity of pizza]2.Flexible Price and Sticky PriceFlexible price: easy to adjust, in short run.Sticky price: hard to adjust, in long run.Chapter 2 The Data of Macroeconomics【Mainpoints】1.GDP(1) Real GDP and Nominal GDP, GDP deflator(2) economy's income = economy's expenditure(3) GDP = C + G + I + NX2.CPI(1) CPI measures the price of a basket of goods(2) CPI = ∑P m Q / ∑P n Q(3) difference between GDP deflator and CPI3. The Unemployment Rate(1) Labour Force = Number of Unemployment + Number of Employment(2) Unemployment Rate = Number of Unemployment / Labour Force × 100%Part II Classical Theory: The Economy in the Long Run ---- Flexible Price Chapter 3 National Income: Where It Comes From and Where It Goes【Mainpoints】1.Total Production(1) Production Function: Y = F(L,K)(2) constant returns to scale: zY = zF(L,K)2. National Income Distribution(1) Factor Prices ---- Labour:MPL = F(L+1,K) - F(L,K)ΔProfit = ΔRevenue - ΔCost = MPL×P - WIn order to maximize profit, make ΔProfit = 0. So MPL=W/P, Real WageLabour Income = MPL×L(2) Factor Prices ---- CapitalMPK = F(L,K+1) - F(L,K)ΔProfit = ΔRevenue - ΔCost = MPK×P - RIn ordet to maximize profit, make ΔProfit= 0 . So MPK=R/P, Real Rental Price of CapitalCapital Income = MPK×K3)The Cobb-Douglas Production FunctionLabour Income = MPL×L = (1-α)YCapital Income = MPK×K = αY→F(K,L) = AKαL(1-α) , A measures the productivity of the available technology3.Total Demand1)Consumption:Determined by disposable incomeC=C(Y-T)Marginal Propensity to ConsumeMPC=C(Y-T+1)-C(Y-T)2)Investment:Determined by interest rateI=I(r)When r is high, investors will give upinvestment because cost of loan is higherthan rate of return.3) Government PurchasesG vs T, measures government budget5. Equilibrium (in a closed economy)(1) Market of Goods and ServicesY=C(Y-T)+I(r)+G(2) Market of Loanable FundsS=Y-C(Y-T) - G = I(r)investment is crowded out Chapter 4 Money and Inflation【Mainpoints】1.Concept of Money(1) Funtions of Money: 1) Store of Value. Example: You can hold your money and trade itfor goods and services at some time in the future.2) Unit of Account. Example: In store people use money to showprice.3) Medium of Exchage. Example: People use money as tool toexchange goods.(2) Types of Money: 1) Fiat Money. No value, example: Paper Money.2) Commodity Money. With value, example: Gold and Silver.(3) Control of Money: 1) Institution: Central Bank. Example: Deutsche Bundesbank2) Method: Open-Markt Operation. Example: Buy governmentbonds to increase money supply.2.The Quantity Theory of Money(1) Quantity Equation: MV=PT →MV=PYQuantity Theory of Money: MV=PY(2) Real Money Balances: M/P , measured in quantity of goods and services.The Money Demand Function: (M/P)d = L(Y,i) = M/P← Money Supply. Y↑, d↑; i↑,d↓(3) Money and Inflation: ΔM% + ΔV% = ΔP% + ΔY% So M↑, P↑3.Inflation and Interest Rate(1) Fisher Equation: i = r + πChapter 5 The Open Economy【Mainpoints】1.International Trade in a Samll Open Economy(1) View of goods and capital flow: NX = Y- (C+G+I)(2) View of capital flow: NX = Y-C-G-I = S-I= S-I(r*)r* is World Interes Rate(3) Trade Policies: 1) Domestic Fiscal Policy, influenceG↑,T↓→S↓→NX↓2) Fiscal Policy Abroad, influenceG e↑, T e↓→S e↓→r*↑→NX↑3) Shift in investment demand. Example: Government provides aninvestment tax credit2.Exchange Rates(1) Nominal Exchange Rates(e) and Real Exchange Rates(ε)Nominal exchange rates are measured in currency. Example: 100 yen / 1 dollarReal exchage rates are measured in goods and services. Example: 2 Japan Car / 1 USA car ε = e × (P/P*) , P* means price level of foreign countries.(2) The Real Exchange Rates and Trade Balance:NX = NX(ε)ε↓, P/P*↓, mean s domestic goods and servicesare cheaper than abroad. NX↑When NX(ε) = S - I, ε is equilibrium real ex.rate.(3) Trade Policies: 1) Domestic Fiscal Policy:G↑,T↓ → S↓(Expansionary Fiscal Policy)2) Fiscal Policy Abroad:G e↑, T e↓→S e↓→r*↑→I↓3) Shift in investment demand.4) Shift in NX(ε) Example: Protectionist Trade Policies(4) Inflation and nominal exchange rates:e = ε × (P*/P) → Δe%= Δε% + (π* - π)(5) PPP(Purchasing-Power Parity): 1 Dollar can buy the same quantity of wheat in anycountry.Chapter 6 Unemployment【Mainpoints】1.Natual Rate of Unemployment(1) Concept: The rate of unemployment which the economy get closed to in the long run.(2) Calculation: L-Labour Froce, E-Number of Employed, U-Number of Unemployed, f-rate of job fiding, s-rate of job seperating.L=E+U, fU=sE → U/L=1/(1+f/s)2.Causes for Unemployment(1) Frictional Unemployment:Unemployed people need time to find jobs.e.g. sectoral shift, unemploymetn insurance.(2) Structural Unemployment:Wage Rigidity. Wage is above the equlibrium level.e.g. Minimum-Wage Laws, Unions, Efficiency Wages.Part III Growth Theory: The Economy in the Very Long Run ---- Solow Growth Model Chapter 7 Economic Growth I: Capital Accumulation and Population GrowthAssumption: Constant Return to Scale【Mainpoints】1.Capital Accumulation(1) Production Function per worker: zY=F(zK,zL)→Y/L=F(K/L,1)→y=f(k),MPK=f(k+1)-f(k)(2) Output and consumption per worker: y=c+i→c=(1-s)y→i=sy→i=sf(k)(3) The Steady State: Capital stock growth Δk = 0Δk=i-δk, δ is depreciation rate→Δk=sf(k)-δk=0→sf(k*)=δk*(4)Golden Rule level of capital: k*gold which maximizes cc=y-i→c=f(k)-sf(k)→c*=f(k*)-δk*→c max:MPK=δ2. Population Growth(at rate of n)(1) The Steady State:Δk=i-k(δ+n)→Δk=sf(k)-k(δ+n)=0→sf(k*)=(δ+n)k*(2) Golden Rule level of capital:k*gold, c=y-i→c max:MPK=δ+nChapter 8 Economic Growth I: Technology, Empirics, and Policy1.Technological Progress in the Solow ModelAssumption: Technology growth is a given exogenous variable g(1) Efficiency of Labour: Y=F(K,EL)(2) The Steady State: Δk=sf(k)-(g+n+δ)k=0→sf(k*)=(g+n+δ)k*(3) Golden Rule level of capital: k*gold , c=y-i→MPK=g+n+δ2.Endogenous Growth TheoryAssupmtion: Technolgy growth is a endogenous function g(μ), capital includes knowledge (1) 2 Sector Model: Y=F[K,(1-μ)EL], ΔE=g(μ)E, ΔK=sY-δKPart IV Business Cycle Theory: The Economy in the Short Run ---- Sticky Price Chapter 9 Introduction to Economic Fluctuations【Key Concepts】Recession: A period of falling output and rising unemployment.Business Cycle: Short-run fluctuations in output and employment.【Mainpoints】1.GDP and unemployment(1) Okun's Law: ΔReal GDP%=3%-2×ΔUnemployment Rate(2) Leading Economic Indicators: Forecasts. Example: Average work time, Index of stock prices, Money Supply....2.Aggregate Demand and Aggregate Supply( P=P(Y))(1) The Quantity Theory of Money→AD: MV=PY→M/P=(M/P)d=kY(2) AS: SRAS---P=P, LRAS---Y=Y(3) From Short Run to Long Run: M changes AD, Y is unchanged inthe long run, but P in the long run changes. (A→B→C)(4) Shocks to AD and AP:1) Shocks to AD. Example: Credit Card makes V rise.Policy: Reduce the Money Supply.2) Shocks to AP. Example: A drought that destroys crops. Cartel. Union. etc. P↑Policy: Wait! Then price returns original level eventually(But it takes longtime). Or expand AD(But price level will be high in long period of time) Chapter 10 Aggregate Demand I: Building the IS-LM Model (Y-r)【Mainpoints】1.IS Curve(1) Good and Service Market→The Keynesian Cross: Y=C+I+G, PE=AE(2) IS curve:Y=C(Y-T)+I(r)+G 1) r↑→I↓→Y↓ 2) Fiscal Policy: G↑→Y↑→IS→, Governmetn-purchases multiplier, tax multiplier.2.LM Curve(1) Money Market→The Theory of Liquidity Peference: M/ P=L(r), M s=M d(2) LM Curve: M/P=L(r,Y). 1) Y↑,M d↑,r↑ 2)M s↑,r↓,LM←3. The Short-Run EquilibriumChapter 11 Aggregate Demand II: Applying the IS-LM Model (Y-P)【Mainpoints】1.IS-LM Model as a Theroy of Aggregate Demand(1) Derivation: P↑,(M/P)s↓,r↑,LM↑→Y↓(2) Shift in AD: G,T,M→IS/LM→Y(3) In long run and short run: In long run Y<YChapter 12 The Open Economy Revisited: The Mundell-Fleming Model and the Exchange Rate Regime【Mainpoints】1.Mundell-Fleming Model(1) IS* Curve: Y=C(Y-T)+I(r*)+G+NX(ε) (2) LM* Curve: M/P=L(r*,Y)2.Under Floating Exchange Rates(1)Fiscal Policy:Shift IS*,ineffectual; Monetary Policy:Shift LM*; Trade Policy:Shift NX(ε)→IS* 3.Under Fixed Exchange Rates(1) Theory: Arbitrageur arbitrage so that M changes.(2)Fiscal Policy shifts IS*→LM*; Monetary Policy:Shift LM*, ineffectual; Trade Policy: Shift NX(ε)→IS*→LM*4. Policy Choice: Impossible Trinity5. Mundell-Fleming Model in Short andLong RunChapter 13 AS and the Short-Run Tradeoff Between Inflation and Unemployment1.Aggregate Supply ModelY=Y+α(P-P e)2.Inflation, Unemployment and Phillips Curve(1)Y=Y+α(P-P e)→P-P-1=P e-P-1+1/α(Y-Y)+v→π=πe+β(μ-μn)+v [Okun's Law] v-supply shock(2) Sacrifice Ratio: π↓1%, GDP ↓ ? %Part V Macroeconomic Policy DebateChapter 14 Stabilization Policy1.Inside Lag and Outside Lag(1) Inside lag is the time between economy shock and the policy anction responds. Example: Policy makers need time to recognize a shock and react.(2) Outside lag is the time between a policy action and its influence on the economy. Example: Change in money supply and interest rate.Chapter 15 Government Debt and Budget Deficits1.The Traditional View of Government Debt(1) In the short run, T↓,C↑,S↓,r↑,I↓,lower steady-state K and a lower level of Y.(2) In the lo ng run, T↓,C↑,IS→,AD↑, finally Y=Y, P i s higher.(3) In open economy, T↓,C↑,IS→, ε↑2.The Ricardian View of Government Debt(1) Ricardian Equivalence: Consumers are forward-looking.They think that government will raise tax at some point in the future, in order to afford budget. So they won't change consumption.Part VI More on the Microeconomics Behind MacroeconomicsChapter 18 Money Supply, Money Demand and the Banking System1.Money Supply(1) Money Supply (M) = Currency (C) + Demand Deposits (D)(2) Reserves: The money that bank receive but don't lend out. Reserve-deposit ratio-rr1) 100% Reserve Banking. 1C→1D, M remains constant.2) Fractional-Reserve Banking. 1C→rrD+(1-rr)C, M increases. And (1-rr)C can be put into another bank, the process of money creation can be continued.(3) Money Supply Model: M=C+D.B(Monetary Base)=C+R [Control by Central Bank]→ M=(cr+1)/(cr+rr)×B=m×B [cr is currency-deposit ratio](4) Monetary Policy Tool: open-market operation, reserve requirements, discout rate[the rate that banks borrow from central bank].2.Money Demand(1) Quantity Theory: (M/P)d=L(i;Y)(2) Portfolio Theory: (M/P)d=L(r s,r b,πe,W) [r s-expected real return on stock, r b-expected real return on bonds, W-real wealth]。
宏观经济学课件Chapter_04
The higher s, the higher the growth rate of output
4-8
Deeper Economics of Endogenous Growth
• Eliminating diminishing marginal returns to capital runs against prevailing microeconomic principles
change in the capital stock is defined as:
K sY saK
OR
K sa
(2)
K
Growth rate of capital is proportional to the savings rate
• Output is proportional to capital, thus the growth rate of output is Y sa (3)
[Insert Figure 4-1 (a) and (b) here, again]
4-7
Mechanics of Endogenous Growth
• If the savings rate, s, is constant and there is neither population growth nor depreciation of capital, then the
• The question analyzed in this chapter is “How do society’s choices affect these parameters?”
• In many developed countries, invention and advances in technology are the key determinants of growth
Macroeconomics
Of all
GDP includes all items produced in the economy and sold legally on markets.
Market value of housing provided by the economy’s stock of housing also included.
GDP is the market value
GDP adds together many products into a single measure of the value of economic activity.
Market prices are used since they reflect the value of the goods/services.
Always have your application materials reviewed by someone who is a better editor than you are
3. Be patient and persistent Set aside time every week to check for job postings, to do research on employers in your field, and to send out a manageable number of applications 4. Don't treat an interview as an interrogation If you are fortunate enough to land an interview, do not be shy in letting the interviewer know how much you know about the employer and how much you want to work there. Be enthusiastic, not desperate. 5. Practice out loud. 6. Be "on" from the start
Microeconomics 2011 Chapter 4 微观经济 教学课件
Price Elasticity of Demand
The price falls to $19.50 and the quantity demanded increases to 11 pizzas an hour. The price falls by $1 and the quantity demanded increases by 2 pizzas an hour.
quantity demanded
© 2010 Pearson Addison-Wesley
Price Elasticity of Demand
In Figure 4.1(b), an increase in supply brings A small fall in price A large increase in the
© 2010 Pearson Addison-Wesley
Price Elasticity of Demand
The formula yields a negative value, because price and quantity move in opposite directions. But it is the magnitude, or absolute value, of the measure that reveals how responsive the quantity change has been to a price change.
© 2010 Pearson Addison-Wesley
Price Elasticity of Demand
Elasticity Along a Straight-Line Demand Curve Figure 4.4 shows how demand becomes less elastic as the price falls along a linear demand curve.
宏观经济学课件Chapter_04PPT资料24页
Mechanics of Endogenous Growth
• Need to modify the production function to allow for selfsustaining, endogenous growth
• Figure 4-1 (a) shows the Solow growth diagram, with the steady state at point C where savings equals required investment
• By the late 1980’s there was great dissatisfaction with neoclassical growth theory since:
1. It does not explain the economic determinants of technological progress
• If savings above required investment, economy is growing as more capital is added process continues until savings equals required investment (reach the steady state)
• Endogenous gபைடு நூலகம்owth theory (Romer, Lucas) explains how society’s choices lead to technological progress and growth
4-2
Trouble With Neoclassical Growth Theory
• Economy illustrated in Figure 4-1 (b) is described by a production function with a constant MPK: Y = aK (1)