ap宏观经济学知识点.docx

1、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】开考科目：详情查看请点击：【】【新航道提供免费服务，优先抢考位，如需代报名，详情查看： ，或者在线咨询我们的老师】六、 ap经济学考试中的十三大要点1 、fundamentals of economic analysisscarce resourcesproduction possibilitiesfunctions of economic systems2、 demand, supply, market equilibrium, and welfare analysisdemandsupplymarket equilibr

2、iumwelfare analysis3、elasticity, microeconomic policy, and consumer theoryelasticitymicroeconomic policy and applications of elasticityconsumer choice4、the firm, profit, and the costs of productionfirms, opportunity costs, and profitsproduction and cost5、market structures, perfect competition, monop

3、oly, and things betweenperfect competitionmonopolymonopolistic competitionoligopoly6、factor marketsfactor demandleast-cost hiring of multiple inputsfactor supply and market equilibriumimperfect competition in product and factor markets7、public goods, externalities, and the role of governmentpublic g

4、oods and spillover benefitspollution and spillover costsincome distribution and tax structures8、 macroeconomic measures of performancethe circular flow modelaccounting for output and incomeinflation and the consumer price indexunemployment9、 consumption, saving, investment, and the multiplierconsump

5、tion and savinginvestmentthe multiplier effect10、aggregate demand and aggregate supplyaggregate demandaggregate supplymacroeconomic equilibriumthe trade-off between inflation and unemployment11、fiscal policy, economic growth, and productivityexpansionary and contractionary fiscal policydifficulties

6、of fiscal policyeconomic growth and productivity12、money, banking, and monetary policymoney and financial assetsfractional reserve banking and money creationmonetary policy13、 international tradecomparative advantage and gains from tradebalance of paymentsforeign exchange ratestrade barriers【篇二：ap宏观

7、经济学知识点】阅读，只需一秒。精彩，尽在掌握！今天和明天主页君将给大家带来ap经济学两连发！今天是宏观经济学，主页君约了一个叫leo的学霸给大家整理了考点的的精髓，最后还有宏观经济学最重要的5张图，祝大家怒考5分！昨天微信好像抽风了，一部分小伙伴没收到统计的福利，现在回复统计就能看到啦！macro econ1 macroeconomics: branch of economics that focus on economy as a whole2 microeconomics: branch of economics that analyze inpgdp3 gdp per capita: g

8、dp/population. a measurement of living standard.4 gdp=c+i+g+nx5 consumption:(a)only final good counts: any intermediate good are not counted to prevent double count(b) resale is not counted: people know they can resale it later so the value of that good is not as high as the price shows.(c) transact

9、ion without money does not count(d) underground economy does not countinvestment: purchase of equipment, new construction and unsold inventories(存货)government spending: all spending on goods or services, does not count welfare. sometimes it can over state quality of life as some spending does not cr

10、eate so much export: export: produced but not consumed in a country, does not matter if a foreigner produces them. import: consumed but not produced in a country.gdp can be an overstatement of life if negative externality exists. it can be an understatement of lifegdp= wages +rent +interest +profit

11、inflation6 inflation: an increase in the overall price level=decrease of purchase power of currency7 when increasing money supply, real wealth shifts to money maker8 money neutrality: a pone time change in money supply will have no real effect in the long run.9 shoe leather costs: the effort made to

12、 decrease the effect of inflation. like withdrawing money to purchase real good.10 menu costs: cause of price stickiness. there is cost to change price so company will not change price immediately until mb mc11 contract: cause of wage stickiness, usually for a year12 rational expectation: people exp

13、ect inflation and act accordingly. the average error of expectation is zero.13 gdp deflator: one way to calculate inflation: p14 cpi: takes a fixed basket of good and calculate their price 15. cpi vs. gdp deflator: cpi only looks at consumer goods. also people tend to buy less of one thing if price

14、increases so cpi is not accurate. a common problem for both ways is that they do not take into account the quality. a good with better quality now is still counted the same as before. 16. deflation: inflation is negative. it is very harmful as interest rate can not be lower than zero.unemployment15

15、people employed/total labor force=unemployment rate16 those not looking for a job, too young and prisoner or patient are not counted in labor force17 discouraged worker: people who give up looking for a job. more discouraged workers can increase employment rate.18 types of unemployment: seasonal, st

16、ructural, frictional and cyclical. seasonal, structural and frictional are unavoidable so no cyclical unemployment means full employment, or natural rate of unemployment.19 effect of unemployment: lower output(okuns law: for every percent of unemployment higher than natural rate, gdp is 2percent low

17、er than potential), stress, workers loses skill, send a bad signal to employer20 bias about unemployment: the leisure people experience when not having a job decrease the negative effect of unemployment. however, the life is stressful and people may spend some of the time looking for a job and these

18、 factors make things worse.aggregate demand egate demand21 ad: total expenditure in a country22 ad is downward sloping because:(a)wealth effect: the higher the price level, the less you can buy with a fixed amount of money(b) interest rate effect: higher price levelcarry more moneyless savingshigher

19、 interest ratelower investment(c) exchange rate effect: higher price levelcarry more moneyless savingshigher interest rateappreciate currencymore import and less export3. shifts of ad: changes in expectations, animal spirit (confidence), change in money supply, fiscal policyaggregate supply23 aggreg

20、ate supply: total supply. the long run as curve is vertical, only affected by change in resources and technology. short run as is upward sloping. 24 as is upward sloping because:(a)sticky price: lower price level and same nomial pricemore real priceless demand-less supply(b) sticky wages: lower pric

21、e level and same wagemore real wagehigher costproduce less (sticky wages may caused by money illusion, labor contracts, labor regulation and union power)3. shifts of as: real factors of production will cause both lras and sras to shift. expectations and change in price or wages will cause sras to sh

22、ift.4. demand pull inflation: increase in ad (may caused by increase in money supply or fiscal stimulus)decrease in asequilibrium and higher price level5. cost push inflation: decrease in asincrease in adequilibrium and higher price level6. inflation gap: ad increases and the gap between the sr and

23、lr level of output is inflation gap.7. recessionary gap: ad decreases and the gap between sr and lr level of output is recessionary/output gapsupply side economics25 supply side economics tend to solve problem in macroeconomics by changing as. they would agree a cut of tax if it can increase peoples

24、 incentive to work. so they do not agree a fund back of last years tax. 26 laffer curve: when tax rate is higher than a number, tax revenue may decrease when government increases tax rate because the decrease in efficiency is so great.what is money27 uses of money: medium of exchange, unit of accoun

25、t and store of value28 properties of money: portable(easy to carry around), fungible(can be p29 definition of money: m0: only currencym1:m0+checking depositm2: m1+close money substitutesquantity theory of money30 mv=py31 ex: when fed prints money but does not use them, v=0 so there is no real effect

26、 in the economysavings and investment:32 an economy can only save by building constructions that might be used in the future33 in a closed economy: c+i+g=gdp=c+g+savings (total spending +that are not spent)monetary policy34 monetary policy is the policy taken by federal reserve to control economy35

27、open market operation: buy or sell treasury bond to increase or decrease total money supply in the economy36 discount rate: rate of interest rate banks borrow money from the fed37 federal funds rate: the interest rate that the fed targeted with open market operation38 reserve requirement: the requir

28、ed amount of money a bank need to hold, usually not used as a tool as:1. if fed raises rr during expansion, bank may have a difficult time to get enough rr2. if fed decreases rr during recession, it has no effect as the bank can not loan out the extra amount of moneyfiscal policy39 fiscal policy is

29、the action of government to control the economy, usually include government spending and change of tax rate40 expansionary fiscal policy may cause an increase in interest rate as government must borrow before spend. this will crowd out private investment.fiscal and monetary policy41 fiscal and monet

30、ary policy may help or cancel out each other. there is a chart in the hand out42 after fed multiplier: is the overall effect of fiscal and monetary policy. if ad increases, it is positive; if ad decreases, it is negative; if ad does not change, it is zero.interest rate determination43 short run: if

31、fed takes expansionary policyms increasessaving shifts to the rightlower interest rate44 long run: if fed takes expansionary policymd increasessaving shifts backinterest rate back to former oneall formulas for calculation1. fiscal policy:(a)spending multiplier=1/mps=1/(1-mpc)(b) tax multiplier=mpc/m

32、ps(c) balance multiplier=spending multiplier+ tax multiplier=12. omo:(a) change in money supply: 1/rr*bp (bond)(b) new loans: 1/rr*bp-bp(c) reserves: bp3. new deposit:(a) change in money supply:1/rr*dd (deposit money)-dd(b) demand deposit: 1/rr*dd(c) loans: 1/rr*dd-dd(d) reserves: ddinternational trade46 current account: account of physical good. export counts as posi