ap宏观经济学知识点.docx

ap宏观经济学知识点.docx

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ap宏观经济学知识点

ap宏观经济学知识点

【篇一：

ap宏观经济学知识点】

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六、ap经济学考试中的十三大要点

1、fundamentalsofeconomicanalysis

scarceresources

productionpossibilities

functionsofeconomicsystem

s

2、demand,supply,marketequilibrium,andwelfareanalysis

demand

supply

marketequilibrium

welfareanalysis

3、elasticity,microeconomicpolicy,andconsumertheory

elasticity

microeconomicpolicyandapplicationsofelasticity

consumerchoice

4、thefirm,profit,andthecostsofproduction

firms,opportunitycosts,andprofits

productionandcost

5、marketstructures,perfectcompetition,monopoly,andthingsbetween

perfectcompetition

monopoly

monopolisticcompetition

oligopoly

6、factormarkets

factordemand

least-costhiringofmultipleinputs

factorsupplyandmarketequilibrium

imperfectcompetitioninproductandfactormarkets

7、publicgoods,externalities,andtheroleofgovernment

publicgoodsandspilloverbenefits

pollutionandspillovercosts

incomedistributionandtaxstructures

8、macroeconomicmeasuresofperformance

thecircularflowmodel

accountingforoutputandincome

inflationandtheconsumerpriceindex

unemployment

9、consumption,saving,investment,andthemultiplier

consumptionandsaving

investment

themultipliereffect

10、aggregatedemandandaggregatesupply

aggregatedemand

aggregatesupply

macroeconomicequilibrium

thetrade-offbetweeninflationandunemployment

11、fiscalpolicy,economicgrowth,andproductivity

expansionaryandcontractionaryfiscalpolicy

difficultiesoffiscalpolicy

economicgrowthandproductivity

12、money,banking,andmonetarypolicy

moneyandfinancialassets

fractionalreservebankingandmoneycreation

monetarypolicy

13、internationaltrade

comparativeadvantageandgainsfromtrade

balanceofpayments

foreignexchangerates

tradebarriers

【篇二：

ap宏观经济学知识点】

阅读，只需一秒。

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macroecon1macroeconomics:

branchofeconomicsthatfocusoneconomyasawhole

2microeconomics:

branchofeconomicsthatanalyzeinp>gdp3gdppercapita:

gdp/population.ameasurementoflivingstandard.

4gdp=c+i+g+nx

5consumption:

（a）onlyfinalgoodcounts:

anyintermediategoodarenotcountedtopreventdoublecount

（b）resaleisnotcounted:

peopleknowtheycanresaleitlatersothevalueofthatgoodisnotashighasthepriceshows.

（c）transactionwithoutmoneydoesnotcount

（d）undergroundeconomydoesnotcount

investment:

purchaseofequipment,newconstructionandunsoldinventories（存货）

governmentspending:

allspendingongoodsorservices,doesnotcountwelfare.sometimesitcanoverstatequalityoflifeassomespendingdoesnotcreatesomuchutility.

netexport:

export:

producedbutnotconsumedinacountry,doesnotmatterifaforeignerproducesthem.import:

consumedbutnotproducedinacountry.

gdpcanbeanoverstatementoflifeifnegativeexternalityexists.itcanbeanunderstatementoflife

gdp=wages+rent+interest+profit

inflation6inflation:

anincreaseintheoverallpricelevel=decreaseofpurchasepowerofcurrency

7whenincreasingmoneysupply,realwealthshiftstomoneymaker

8moneyneutrality:

aponetimechangeinmoneysupplywillhavenorealeffectinthelongrun.

9shoeleathercosts:

theeffortmadetodecreasetheeffectofinflation.likewithdrawingmoneytopurchaserealgood.

10menucosts:

causeofpricestickiness.thereiscosttochangepricesocompanywillnotchangepriceimmediatelyuntilmbmc

11contract:

causeofwagestickiness,usuallyforayear

12rationalexpectation:

peopleexpectinflationandactaccordingly.theaverageerrorofexpectationiszero.

13gdpdeflator:

onewaytocalculateinflation:

p>14cpi:

takesafixedbasketofgoodandcalculatetheirprice15.cpivs.gdpdeflator:

cpionlylooksatconsumergoods.alsopeopletendtobuylessofonethingifpriceincreasessocpiisnotaccurate.acommonproblemforbothwaysisthattheydonottakeintoaccountthequality.agoodwithbetterqualitynowisstillcountedthesameasbefore.16.deflation:

inflationisnegative.itisveryharmfulasinterestratecannotbelowerthanzero.

unemployment15peopleemployed/totallaborforce=unemploymentrate

16thosenotlookingforajob,tooyoungandprisonerorpatientarenotcountedinlaborforce

17discouragedworker:

peoplewhogiveuplookingforajob.morediscouragedworkerscanincreaseemploymentrate.

18typesofunemployment:

seasonal,structural,frictionalandcyclical.seasonal,structuralandfrictionalareunavoidablesonocyclicalunemploymentmeansfullemployment,ornaturalrateofunemployment.

19effectofunemployment:

loweroutput（okun’slaw:

foreverypercentofunemploymenthigherthannaturalrate,gdpis2percentlowerthanpotential）,stress,workerslosesskill,sendabadsignaltoemployer

20biasaboutunemployment:

theleisurepeopleexperiencewhennothavingajobdecreasethenegativeeffectofunemployment.however,thelifeisstressfulandpeoplemayspendsomeofthetimelookingforajobandthesefactorsmakethingsworse.

aggregatedemandegatedemand21ad:

totalexpenditureinacountry

22adisdownwardslopingbecause:

（a）wealtheffect:

thehigherthepricelevel,thelessyoucanbuywithafixedamountofmoney

（b）interestrateeffect:

higherpricelevel—carrymoremoney—lesssavings—higherinterestrate—lowerinvestment

（c）exchangerateeffect:

higherpricelevel—carrymoremoney—lesssavings—higherinterestrate—appreciatecurrency—moreimportandlessexport

3.shiftsofad:

changesinexpectations,animalspirit（confidence）,changeinmoneysupply,fiscalpolicy

aggregatesupply23aggregatesupply:

totalsupply.thelongrunascurveisvertical,onlyaffectedbychangeinresourcesandtechnology.shortrunasisupwardsloping.24asisupwardslopingbecause:

（a）stickyprice:

lowerpricelevelandsamenomialprice—morerealprice—lessdemand--lesssupply

（b）stickywages:

lowerpricelevelandsamewage—morerealwage—highercost—produceless（stickywagesmaycausedbymoneyillusion,laborcontracts,laborregulationandunionpower）

3.shiftsofas:

realfactorsofproductionwillcausebothlrasandsrastoshift.expectationsandchangeinpriceorwageswillcausesrastoshift.

4.demandpullinflation:

increaseinad（maycausedbyincreaseinmoneysupplyorfiscalstimulus）—decreaseinas—equilibriumandhigherpricelevel

5.costpushinflation:

decreaseinas—increaseinad—equilibriumandhigherpricelevel

6.inflationgap:

adincreasesandthegapbetweenthesrandlrlevelofoutputisinflationgap.

7.recessionarygap:

addecreasesandthegapbetweensrandlrlevelofoutputisrecessionary/outputgap

supplysideeconomics25supplysideeconomicstendtosolveprobleminmacroeconomicsbychangingas.theywouldagreeacutoftaxifitcanincreasepeople’sincentivetowork.sotheydonotagreeafundbackoflastyear’stax.26laffercurve:

whentaxrateishigherthananumber,taxrevenuemaydecreasewhengovernmentincreasestaxratebecausethedecreaseinefficiencyissogreat.

whatismoney27usesofmoney:

mediumofexchange,unitofaccountandstoreofvalue

28propertiesofmoney:

portable（easytocarryaround）,fungible（canbep>29definitionofmoney:

m0:

onlycurrency

m1:

m0+checkingdeposit

m2:

m1+closemoneysubstitutes

quantitytheoryofmoney30mv=py

31ex:

whenfedprintsmoneybutdoesnotusethem,v=0sothereisnorealeffectintheeconomy

savingsandinvestment:

32aneconomycanonlysavebybuildingconstructionsthatmightbeusedinthefuture

33inaclosedeconomy:

c+i+g=gdp=c+g+savings（totalspending+thatarenotspent）

monetarypolicy34monetarypolicyisthepolicytakenbyfederalreservetocontroleconomy

35openmarketoperation:

buyorselltreasurybondtoincreaseordecreasetotalmoneysupplyintheeconomy

36discountrate:

rateofinterestratebanksborrowmoneyfromthefed

37federalfundsrate:

theinterestratethatthefedtargetedwithopenmarketoperation

38reserverequirement:

therequiredamountofmoneyabankneedtohold,usuallynotusedasatoolas:

1.iffedraisesrrduringexpansion,bankmayhaveadifficulttimetogetenoughrr

2.iffeddecreasesrrduringrecession,ithasnoeffectasthebankcannotloanouttheextraamountofmoney

fiscalpolicy39fiscalpolicyistheactionofgovernmenttocontroltheeconomy,usuallyincludegovernmentspendingandchangeoftaxrate

40expansionaryfiscalpolicymaycauseanincreaseininterestrateasgovernmentmustborrowbeforespend.thiswillcrowdoutprivateinvestment.

fiscalandmonetarypolicy41fiscalandmonetarypolicymayhelporcancelouteachother.thereisachartinthehandout

42afterfedmultiplier:

istheoveralleffectoffiscalandmonetarypolicy.ifadincreases,itispositive;ifaddecreases,itisnegative;ifaddoesnotchange,itiszero.

interestratedetermination43shortrun:

iffedtakesexpansionarypolicy—msincreases—savingshiftstotheright—lowerinterestrate

44longrun:

iffedtakesexpansionarypolicy—mdincreases—savingshiftsback—interestratebacktoformerone

allformulasforcalculation1.fiscalpolicy:

（a）spendingmultiplier=1/mps=1/（1-mpc）

（b）taxmultiplier=mpc/mps

（c）balancemultiplier=spendingmultiplier+taxmultiplier=1

2.omo:

（a）changeinmoneysupply:

1/rr*bp（bond）

（b）newloans:

1/rr*bp-bp

（c）reserves:

bp

3.newdeposit:

（a）changeinmoneysupply:

1/rr*dd（depositmoney）-dd

（b）demanddeposit:

1/rr*dd

（c）loans:

1/rr*dd-dd

（d）reserves:

dd

internationaltrade46currentaccount:

accountofphysicalgood.exportcountsasposi