02教案宏观经济学柳玉寿文档格式.docx

1、授课方式lecture 教学目的Let the students understand the concept below：1. Whats GDP?2. The measurement of GDP3. The components of GDP4. Real versus Nominal GDP （GDP deflator）5. GDP and Economic Well-being重点The measurement of GDPThe components of GDPReal versus Nominal GDP （GDP deflator）GDP and Economic 难时间分

2、配教 学 内 容15mins20mins25mins45minsThe teacher gives the Lectures about the contents below:1.MicroeconomicsMicroeconomics is the study of how individual households and firms make decisions and how they interact with one another in markets.MacroeconomicsMacroeconomics is the study of the economy as a wh

3、ole.Its goal is to explain the economic changes that affect many households, firms, and markets at once.2.MacroeconomicsMacroeconomics answers questions like the following:Why is average income high in some countries and low in others? Why do prices rise rapidly in some time periods while they are m

4、ore stable in others?Why do production and employment expand in some years and contract in others?The Economys 3.Income and ExpenditureWhen 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.4.Income and ExpenditureF

5、or an economy as a whole, income must equal expenditure because:Every transaction has a buyer and a seller.Every dollar of spending by some buyer is a dollar of income for some seller. 5.Gross Domestic ProductGross domestic product （GDP） is a measure of the income and expenditures of an economy.It i

6、s the total market value of all final goods and services produced within a country in a given period of time.The Circular-Flow DiagramThe equality of income and expenditure can be illustrated with the circular-flow diagram.The Measurement of GDPGDP is the market value of all final goods and services

7、 produced within a country in a given period of time.6.The Measurement of GDPOutput is valued at market prices.It records only the value of final goods, not intermediate goods （the value is counted only once）.It includes both tangible goods （food, clothing, cars） and intangible services （haircuts, h

8、ousecleaning, doctor visits）. It includes goods and services currently produced, not transactions involving goods produced in the past.It measures the value of production within the geographic confines of a country.It measures the value of production that takes place within a specific interval of ti

9、me, usually a year or a quarter （three months）. 7.What Is Counted in GDP?GDP includes all items produced in the economy and sold legally in markets.8.What Is Not Counted in GDP?GDP excludes most items that are produced and consumed at home and that never enter the marketplace.It excludes items produ

10、ced and sold illicitly, such as illegal drugs.9.Other Measures of IncomeGross National Product （GNP）Net National Product （NNP）National IncomePersonal IncomeDisposable Personal Income10.Gross National ProductGross national product （GNP） is the total income earned by a nations permanent residents （cal

11、led nationals）.It differs from GDP by including income that our citizens earn abroad and excluding income that foreigners earn here.Net National Product （NNP） is the total income of the nations residents （GNP） minus losses from depreciation.Depreciation is the wear and tear on the economys stock of

12、equipment and structures.National Income is the total income earned by a nations residents in the production of goods and services.It differs from NNP by excluding indirect business taxes （such as sales taxes） and including business subsidies. 11.Personal IncomePersonal income is the income that hou

13、seholds and noncorporate businesses receive.Unlike national income, it excludes retained earnings, which is income that corporations have earned but have not paid out to their owners. In addition, it includes households interest income and government transfers. Disposable personal income is the inco

14、me that household and noncorporate businesses have left after satisfying all their obligations to the government.It equals personal income minus personal taxes and certain nontax payments.The Components of GDP12.GDP （Y ） is the sum of the following: Consumption （C） Investment （I） Government Purchase

15、s （G） Net Exports （NX）Y = C + I + G + NXConsumption （C）:The spending by households on goods and services, with the exception of purchases of new housing.Investment （I）:The spending on capital equipment, inventories, and structures, including new housing.Government Purchases （G）:The spending on goods

16、 and services by local, state, and federal governments.Does not include transfer payments because they are not made in exchange for currently produced goods or services.Net Exports （NX）:Exports minus imports.GDP and Its Components （1998）13.Real versus Nominal GDPNominal GDP values the production of

17、goods and services at current prices.Real GDP values the production of goods and services at constant prices. Real versus Nominal GDPAn accurate view of the economy requires adjusting nominal to real GDP by using the GDP deflator.14. GDP DeflatorThe GDP deflator measures the current level of prices

18、relative to the level of prices in the base year.It tells us the rise in nominal GDP that is attributable to a rise in prices rather than a rise in the quantities produced. GDP DeflatorThe GDP deflator is calculated as follows:Converting Nominal GDP to Real GDPNominal GDP is converted to real GDP as

19、 follows:Real and Nominal GDPReal GDP in the United States15.GDP and Economic Well-BeingGDP is the best single measure of the economic well-being of a society. GDP per person tells us the income and expenditure of the average person in the economy.Higher GDP per person indicates a higher standard of

20、 living.GDP is not a perfect measure of the happiness or quality of life, however.Some things that contribute to well-being are not included in GDP.The value of leisure.The value of a clean environment.The value of almost all activity that takes place outside of markets, such as the value of the tim

21、e parents spend with their children and the value of volunteer work.GDP, Life Expectancy, and LiteracySummaryBecause every transaction has a buyer and a seller, the total expenditure in the economy must equal the total income in the economy.Gross Domestic Product （GDP） measures an economys total exp

22、enditure on newly produced goods and services and the total income earned from the production of these goods and services.GDP is divided among four components of expenditure: consumption, investment, government purchases, and net exports.Nominal GDP uses current prices to value the economys producti

23、on. Real GDP uses constant base-year prices to value the economys production of goods and services.The GDP deflator-calculated from the ratio of nominal to real GDP-measures the level of prices in the economy.GDP is a good measure of economic well-being because people prefer higher to lower incomes.

24、It is not a perfect measure of well-being because some things, such as leisure time and a clean environment, arent measured by GDP.作业布置Exercise Whats GDP?Discuss The measurement of GDPDiscuss The components of GDP课后总结02 Chapter23 Measuring the Cost of LivingEquipping students one of the most powerfu

25、l tools in economics study, this section shall introduce different economic graphs and their purposes and usages. Help student to plot, read and understand different graphs and understand Measuring the Cost of LivingLet students understand the following conceptions:1.Measuring the Cost of Living2.Ho

26、w the Consumer Price Index Is Calculated3.GDP Deflator4.Whats in the CPIs Basket?1.How the Consumer Price Index Is Calculated2.Whats in the CPIs Basket?Inflation refers to a situation in which the economys overall price level is rising.The inflation rate is the percentage change in the price level f

27、rom the previous period.The Consumer Price IndexThe consumer price index （CPI） is a measure of the overall cost of the goods and services bought by a typical consumer. The Bureau of Labor Statistics reports the CPI each month.It is used to monitor changes in the cost of living over time.The Consumer Price Ind