AP宏观经济学.docx

1、AP宏观经济学AP宏观经济学备考攻略1.AP宏观经济学的考试时间和地点AP宏观经济学的考试的考试时间是130分钟，分为多项选择题和自由回答题两种题型，其中多项选择题70分钟的答题时间，然后是10分钟的读题时间，这段时间内，建议学生仔细阅读每个题目、绘图、做笔记、打草稿。紧接着就是50分钟自由回答题。考试地点比较近的可以在香港、新加坡、泰国等国家和地区，中国大陆北京和上海的某些私立高中会设有考点，但是仅供这些高中的同学应考。2.AP宏观经济学的考试题型分析AP宏观经济学的考试分为多项选择题和自由回答题两种题型，其中多项选择题是60道题，用时70分钟;自由回答题是3道大题，其中第一道大题平均有5-

2、6道小题，用时大概25分钟，第二道和第三道大题平均有3-4道小题，用时分别为12.5分钟。其中多项选择题部分占学生考试得分的2/3，自由回答题部分占余下的1/3。多项选择题主要考察的是学生对宏观经济学基础知识的把握程度，考点主要是基本宏观经济学概念、宏观经济学概念的扩展、宏观经济学的应用以及各个概念的对比分析等。自由回答题主要考察的是学生对宏观经济学基本框架的把握和理解，以及对宏观经济学分析工具的应用能力，其中的一部分问题需要进行图形分析，要求考生对宏观经济学中图形分析工具具有相当程度的掌握。3.AP宏观经济学的考点分析AP宏观经济学的考点大致分为：国民经济核算体系，国民收入的决定-收入和支出

3、模型，货币、利率和国民收入，宏观经济政策，国民收入的决定：总供给-总需求模型，失业与自然失业率，通货膨胀理论，开放经济下的宏观经济理论，经济增长理论，经济周期，西方经济学主要学派。其中考察的重点知识为国民经济核算指标，菲利普斯曲线，失业和通货膨胀，开放经济下的宏观经济学，财政和货币政策，银行和货币创造等。4.AP宏观经济学的备考策略首先，AP宏观经济学考试最重要的备考方法还是从基础的经济学知识角度掌握整个宏观经济学的分析框架以及分析思路，从而可以从本质上抓住考试的重点。其次，AP经济学考试不同于GRE，TOEFL或SAT等英文考试，经济学是一门学科，侧重的是知识性和内容性，因此技巧对于AP考试

4、来说就不是最重要的因素，从而考生在复习考试的时候要淡化技巧，强调知识学习。最后，AP宏观经济学考试要求考生培养一种经济学素养，可以从经济学视角解释和说明现实中的很多问题。5.AP宏观经济学的参考书推荐对于参考书来讲，国外的教材推荐考生阅读：经济学原理(第三版)，格利高里.曼昆(Mankiw)，2006，清华大学出版社，这本书是宏观经济学的入门教材，也是AP考试主要考察的难度范围。如果考生想进阶提升自己的经济学水平，推荐阅读：宏观经济学(第六版)，格利高里.曼昆(Mankiw)，2009，中国人民大学出版社，以及宏观经济学，多恩.布什，2009，中国人民大学出版社，这两本教材是宏观经济学的中级教

5、材，适合进阶阅读。对于国内的教材，推荐考生阅读：西方经济学(第四版)，高鸿业，2009，中国人民大学出版社，以及西方经济学，吴易风，2009，中国人民大学出版社，这是国内宏观经济学教科书里比较好的两本教材。2013年AP宏观经济学真题解析1. Assume that the United States economy is operating at full employment.(a) Using a correctly labeled graph of the long-run aggregate supply, short-run aggregate supply, and aggreg

6、ate demand, show each of the following.(i) Current price level, labeled PL1(ii) Current output level, labeled Y1(b) Assume that personal savings in the United States increase. Using a correctly labeled graph of the loanable funds market, show the impact of the increase in personal savings on the rea

7、l interest rate.(c) Based on the real interest rate change identified in part (b),(i) will interest-sensitive expenditures increase, decrease, or remain unchanged?(ii) what will happen to the rate of economic growth? Explain.(d) Assume that the real interest rate of the euro zone increases relative

8、to the real interest rate of the United States. Draw a correctly labeled graph of the foreign exchange market for the euro and show the impact of the change in the real interest rate in the euro zone on each of the following.(i) Demand for the euro. Explain.(ii) Value of the euro relative to the Uni

9、ted States dollar(e) Assume that the United States current account balance is zero. Based on the change in the value of the euro identified in part (d)(ii), will the United States current account balance now be in surplus, be in deficit, or remain at zero?(a)此题考察的是总供给-总需求模型的概念。X轴为real GDP，Y轴为price l

10、evel，短期总供给曲线SRAS与总需求曲线AF相交即为短期均衡水平，分别对应PL1以及Y1。因为full employment，所以长期而言，real GDP的价格水平弹性应该为0，即价格水平的变动并不会带来real GDP的变动，所以为垂直X轴的直线，并且经过短期均衡点，因为短期均衡水平即为长期均衡水平。(b)此题考察的重点是货币市场。对于贷款市场而言，需求即为贷款需求，而贷款供给即为savings。作图时X轴为贷款数量，而Y轴为利率水平。因为savings增加，所以贷款供给增多，S线右移，产生新的均衡利率，此时的均衡利率降低。(c. i) 既然是interest-sensitive的支出

11、，所以当r降低时，相应的expenditures会有变化。因为r降低会增加投资水平，所以相应的支出会增多。(c. ii) 因为r降低会增大投资支出，所以会增强capital formation，进而加快经济增长速度。 (d)题目要求分析对euro的需求，因此X轴为euro的数量，纵轴为euro的价格，即dollar/euro。euro的利率水平相对上涨时，会将投资吸引到euro上，这样可以因为euro较高的资本回报而获利，所以对euro的需求会增多，进而使euro相对升值。(e) 因为euro相对升值，所以dollar相对贬值，可以刺激出口，进而加大经常账户盈余水平。2. Assume tha

12、t the country of Fischerland produces only consumer goods and capital goods.(a) The graph above shows the production possibilities curve for Fischerland. The production of which of the following exhibits increasing opportunity costs: consumer goods only, capital goods only, both goods, or neither go

13、od?(b) Redraw the graph given above. Show a point that represents fully employed and efficiently used resources on the redrawn graph and label it A.(c) Assume there is a recession in Fischerland. On your graph in part (b), label as C a point representing the recession.(d) Identify a fiscal policy ac

14、tion that the Fischerland government can take to address the recession.(e) Assume instead that no discretionary policy actions are taken. Will short-run aggregate supply increase, decrease, or remain the same in the long run? Explain.(a) 此题考查的是对生产可能性曲线的理解。由图可以看出，当增大capital goods的生产时，需要减少的consumer go

15、ods的产量逐渐增大;同样，随着consumer goods的产量增大，需要减少的capital goods产量增大。因此，对于二者而言，opportunity cost均在增加。(b)因为是full employed并且efficiently used resources，所以产量水平应该在生产可能性曲线上，例如A点。(c) 因为是recession，所以资源并没有全部利用，产量水平应该在生产可能性曲线内部，例如C点。(d) 此题考查的是政府的财政政策，这点需要注意，财政政策主要就是政府支出与收入(税)。在recession时期，需要采用扩张性的财政政策，支出方面便是扩大政府支出，在收入方面

16、便是减少纳税水平。(e) 如果并没有实行财政政策，经济体会进行调整。因为在recession时期，工资水平降低，生产成本降低，所以会使短期总供给SRAS增加。3. Inflation and expected inflation are important determinants of economic activity.(a) Draw a correctly labeled graph of a short-run Phillips curve.(b) Using your graph in part (a), show the effect of an increase in the

17、expected rate of inflation.(c) What is the effect of the increase in the expected rate of inflation on the long-run Phillips curve?(d) Given the increase in the expected rate of inflation from part (b),(i) will the nominal interest rate on new loans increase, decrease, or remain unchanged?(ii) will

18、the real interest rate on new loans increase, decrease, or remain unchanged?(e) Assume that the nominal interest rate is 8 percent. Borrowers and lenders expect the rate of inflation to be 3 percent, and the growth rate of real gross domestic product is 4 percent. Calculate the real interest rate.(a

19、)此题考查的是短期菲利普斯曲线。X轴为失业水平，Y轴的通胀率，曲线表达的是随着通胀率的增加，失业率会相应降低。(b) expected inflation rate会使短期菲利普斯曲线移动，在预期通胀率增加时，曲线右移，这是因为短期内，预期水平较高，需要较高的名义通胀率来达到相同的失业率水平，即在同样的名义通胀率下，若预期通胀率较高，失业率会较高。(c) 长期菲利普斯曲线不受预期通胀率的影响，长期会进行调整恢复均衡状态。(d. i) 名义利率=预期通胀率+实际利率，所以预期通胀率增加会使名义利率增加。(d. ii) 预期通胀率对实际利率不产生影响。(e) 名义利率=预期通胀率+实际利率，所以实

20、际利率为：8%-3%=5%。2012年AP宏观经济学真题解析1.Assume that the country of Rankinland is currently in recession.(a) Assume that Rankinland produces only food and clothing. Draw a correctly labeled production possibilities curve for Rankinland. Show a point that could represent the current output combination and lab

21、el it A.(b) Assume that the Central Bank of Rankinland pursues an expansionary monetary policy.(i) Identify the open-market operation that the Central Bank would use.(ii) Draw a correctly labeled money market graph and show the short-run effect of the expansionary monetary policy on the nominal inte

22、rest rate.(iii) Assuming no change to the price level, what happens to the real interest rate as a result of the expansionary monetary policy? Explain.(iv) Given your answer to part (b)(iii) regarding the real interest rate, what happens to the real gross domestic product (GDP) in the short run? Exp

23、lain.(c) Suppose Rankinland has a current account deficit. Rankinlands currency is called the bera.(i) What will initially happen to the current account deficit in Rankinland solely due to the change in the real GDP from part (b)(iv) ? Explain.(ii) What will happen to the international value of the

24、bera solely due to the change in the real GDP from part (b)(iv) ? Explain.(a)此题为第一题的a问，在做题之前要看题目的整体前提是什么：in recession，这是每一小问答题是需要考虑的前提条件。再来看题目，考察的知识点为production possibilities curve(PPC)。题目中提到only food and clothing，满足包含两种产品的PPC的前提条件。注意PPC图的形状(向外凸)，这是由于生产要素的边际替代率递减(clothing生产增加时，需要food要素的替代量逐渐减少)。PPC描

25、述的是在要素量一定时的最大生产可能，因为是in recession，所以A点应该在曲线之内任一点。(b.i) open-market operation为央行进行monetary policy的途径之一，通过买卖债券来达到扩张或是紧缩的目的。若是需要扩张经济，需要buying of bonds，进而增加市场流动性。(b. ii)做货币市场图时，X轴为quantity of money，Y轴为nominal interest rate，MD为货币需求曲线：随着货币量增加，名义利率下降。MS为货币供给曲线，为平行于Y轴的直线(货币供给的利率弹性为0)，政府的行为为：增加货币供给量，因此曲线向右移动

26、，使名义利率下降。(b. iii) nominal interest rate=real interest rate + price level，因为价格水平不变，所以名义利率下降，实际利率同样下降。(b. iv) real interest rate下降后，会刺激投资(因为贷款利率降低)并且刺激消费(因为存款利率降低)，是经济扩张。根据支出法，GDP=C(消费)+I(投资)+G(政府支出)+X-M(净出口)，所以C和I增加会是real GDP增加。(c. i) 题目中问对current account的影响，经常账户衡量的是一国进出口的水平，real GDP增加，对内/对外的购买力均会增加，

27、因此进口水平会提高，从而降低net exports，进而增加current account deficit(进口增加量大于出口)。(c. ii) 由于current account deficit的增加，政府为了维持国际收支平衡，会增加货币发行，进而降低bera的international value，由此来刺激出口，恢复经常账户平衡。2. The following is a simplified balance sheet for Mi Tierra Bank in the United States.(a) What is the reserve requirement?(b) Assu

28、me that Luis withdraws $5,000 in cash from his checking account at Mi Tierra Bank.(i) By how much will Mi Tierra Banks reserves change based on Luis withdrawal?(ii) What is the initial effect of the withdrawal on the M1 measure of money supply? Explain.(iii) As a result of the withdrawal, what is th

29、e new value of excess reserves on the balance sheet of Mi Tierra Bank based on the reserve requirement from part (a)?(c) Assume that the next day John withdraws from Mi Tierra Bank an amount that exceeds the banks excess reserves. Assuming that no loans are called in, how can Mi Tierra Bank cover it

30、s required reserves?(a) 此题考查的是reserve的概念，reserve为准备金，包含required reserves以及excess reserves，其中required reserves为央行规定的需要根据存款数额来计提的准备金，而excess reserves为其余的部分。因此，题中的reserve requirement应该为required reserves与demand deposits的比例(10%)。(b. i) 由资产负债表的理论得知，assets以及liability应该相等，Luis withdraws $5,000，则liability减少了

31、$5,000，loans不变的情况下，reserve就会减少相同数额。(b. ii) M1(狭义货币供给量)，包括现金以及活期存款，因此对于M1而言，活期存款与现金之间的转换没有影响。(b. iii) 对于assets方而言，减少了$5,000，即为之前的excess reserves;由于demand deposit减少了$5,000，所以required reserves减少$500，所以excess reserves增加了$500，因此为$500。(c) 此题掌握概念即可，银行可以从央行或其他银行进行借款。3. Assume the economy of Andersonland is in a long-run equilibrium with full employment. In the short run, nominal wages are fixed.(a) Draw a correctly labeled graph of short-run aggregate supply, long-run aggregate supply, and aggregate demand. Show each of the following.(i) Equilibrium output, labeled Y1(