宏观经济学英文课件PPT推荐.ppt

宏观经济学英文课件PPT推荐.ppt

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Shouldit?

Importantissuesinmacroeconomics,Whatisthegovernmentbudgetdeficit?

Howdoesitaffecttheeconomy?

WhydoestheU.S.havesuchahugetradedeficit?

Whyaresomanycountriespoor?

Whatpoliciesmighthelpthemgrowoutofpoverty?

U.S.GrossDomesticProductinbillionsofchained1996dollars,U.S.GrossDomesticProductinbillionsofchained1996dollars,Whylearnmacroeconomics?

Themacroeconomyaffectssocietyswell-being.example:

Unemploymentandsocialproblems,Unemploymentandsocialproblems,Eachone-pointincreaseintheunemploymentrateisassociatedwith:

920moresuicides650morehomicides4000morepeopleadmittedtostatementalinstitutions3300morepeoplesenttostateprisons37,000moredeathsincreasesindomesticviolenceandhomelessness,Whylearnmacroeconomics?

Unemploymentandsocialproblems,Themacroeconomyaffectsyourwell-being.example1:

Unemploymentandearningsgrowthexample2:

Interestratesandmortgagepayments,Unemploymentandearningsgrowth,Interestratesandmortgagepayments,Fora$150,00030-yearmortgage:

$11,782,$981,6.84%,Dec2001,$12,771,$1064,7.65%,Whylearnmacroeconomics?

Interestratesandmortgagepayments,Themacroeconomyaffectspolitics&

currentevents.example:

Inflationandunemploymentinelectionyears,InflationandUnemploymentinElectionYears,yearUrateinflationrateelec.outcome19767.7%5.8%Carter（D）19807.1%13.5%Reagan（R）19847.5%4.3%Reagan（R）19885.5%4.1%BushI（R）19927.5%3.0%Clinton（D）19965.4%3.3%Clinton（D）20004.0%3.4%BushII（R）,Economicmodels,aresimpliedversionsofamorecomplexrealityirrelevantdetailsarestrippedawayUsedtoshowtherelationshipsbetweeneconomicvariablesexplaintheeconomysbehaviordevisepoliciestoimproveeconomicperformance,Exampleofamodel:

Thesupply&

demandfornewcars,explainsthefactorsthatdeterminethepriceofcarsandthequantitysold.assumesthemarketiscompetitive:

eachbuyerandselleristoosmalltoaffectthemarketpriceVariables:

Qd=quantityofcarsthatbuyersdemandQs=quantitythatproducerssupplyP=priceofnewcarsY=aggregateincomePs=priceofsteel（aninput）,Thedemandforcars,showsthatthequantityofcarsconsumersdemandisrelatedtothepriceofcarsandaggregateincome.,Digression:

Functionalnotation,Generalfunctionalnotationshowsonlythatthevariablesarerelated:

Digression:

Aspecificfunctionalformshowstheprecisequantitativerelationship:

Themarketforcars:

demand,QQuantityofcars,PPriceofcars,Thedemandcurveshowstherelationshipbetweenquantitydemandedandprice,otherthingsequal.,Themarketforcars:

supply,Themarketforcars:

equilibrium,Theeffectsofanincreaseinincome:

Anincreaseinincomeincreasesthequantityofcarsconsumersdemandateachprice,whichincreasestheequilibriumpriceandquantity.,Theeffectsofasteelpriceincrease:

AnincreaseinPsreducesthequantityofcarsproducerssupplyateachprice,whichincreasesthemarketpriceandreducesthequantity.,Endogenousvs.exogenousvariables:

Thevaluesofendogenousvariablesaredeterminedinthemodel.Thevaluesofexogenousvariablesaredeterminedoutsidethemodel:

themodeltakestheirvalues&

behaviorasgiven.Inthemodelofsupply&

demandforcars,Nowyoutry:

Writedowndemandandsupplyequationsforwirelessphones;

includetwoexogenousvariablesineachequation.Drawasupply-demandgraphforwirelessphones.Useyourgraphtoshowhowachangeinoneofyourexogenousvariablesaffectsthemodelsendogenousvariables.,AMultitudeofModels,Noonemodelcanaddressalltheissueswecareabout.Forexample,Ifwewanttoknowhowafallinaggregateincomeaffectsnewcarprices,wecanusetheS/Dmodelfornewcars.Butifwewanttoknowwhyaggregateincomefalls,weneedadifferentmodel.,AMultitudeofModels,Sowewilllearndifferentmodelsforstudyingdifferentissues（e.g.unemployment,inflation,long-rungrowth）.Foreachnewmodel,youshouldkeeptrackofitsassumptions,whichofitsvariablesareendogenousandwhichareexogenous,thequestionsitcanhelpusunderstand,andthoseitcannot.,Prices:

FlexibleVersusSticky,Marketclearing:

anassumptionthatpricesareflexibleandadjusttoequatesupplyanddemand.Intheshortrun,manypricesaresticky-theyadjustonl