宏观经济学第一章-PPT课件.ppt

MACROECONOMICSC H A P T E RN.GREGORY MANKIWThe Science of Macroeconomics1暨南大学 经济学院 周泳宏slide 11 Course Title MacroeconomicsMacroeconomics is the study of the economy as a whole.Microeconomics is the study of how firms and individuals make decisions and how these decision makers interact.Macroeconomics is useful for both explaining economic events and formulating economic policy.slide 2Required TextbookN.Gregory Mankiw,Macroeconomics,Seventh EditionRecommended ReferenceN.Gregory Mankiw,Principles of Economics,Sixth EditionRudiger Dornbusch,et.al.Macroeconomics,Seventh Editionslide 3国际经济学保险学证券投资财政学国民经济核算宏宏观经济学学开放经济国际贸易理论与实务国际金融货币金融学经济增长与经济周期国民收入与宏观经济政策税收经济学金融机构管理增长经济学发展经济学货币理论基本原理与模型中级宏观经济学高级宏观经济学学术研究行业分析、资本运作、管理咨询等实操技能 Macroeconomics:The Basic Scienceslide 42 Learning ObjectivesThe issues macroeconomists studyOutput&Economic GrowthPrice,Inflation,Unemployment&Business CycleMacroeconomic PolicyThe tools macroeconomists useModels,GraphsThe concepts in macroeconomic analysisGDP,Aggregate Demand,IS-LM,Philips Curve slide 52.1 Important issues in macroeconomicsWhy does the cost of living keep rising?Why are millions of people unemployed,even when the economy is booming?What causes recessions?Can the government do anything to combat recessions?Should it?Macroeconomics,the study of the economy as a whole,addresses many topical issues:slide 6What is the government budget deficit?How does it affect the economy?Why does some countries have a huge trade deficit/surplus?Why are so many countries poor?What policies might help them grow out of poverty?Macroeconomics,the study of the economy as a whole,addresses many topical issues:slide 7IS1Y rLMr1Y1IS2Y2r21.2.3.2.2 The tools macroeconomists use2.2.1 GraphsUnderstanding graphical analysis is a key part of learning macroeconomics For exampleslide 82.2.2 Modelsnare simplified versions of a more complex realitynirrelevant details are stripped awaynare used tonshow relationships between variablesnexplain the economys behaviorndevise policies to improve economic performanceslide 9Endogenous vs.exogenous variablesThe values of endogenous variables are determined in the model.The values of exogenous variables are determined outside the model:the model takes their values&behavior as given.slide 10A multitude of modelsNo one model can address all the issues we care about.e.g.,our supply-demand model of the car marketcan tell us how a fall in aggregate income affects price&quantity of cars.cannot tell us why aggregate income falls.slide 112.3 the concepts of MacroeconomicsThree important indicatorsGDP,CPI,UnemploymentOther conceptsInvestment&ConsumptionImport&ExportSaving&TaxAggregate Demand&Aggregate SupplyEconomics Growth RateIS Curve&LM CurvePhillips Curveslide 123 Course SynopsisPart One IntroductionPart Two“Classical Theory:The Economy in the Long Run”Part Three“Growth Theory:The Economy in the Very Long Run”Part Four“Business Cycle Theory:The Economy in the Short Run”Part Five“Macroeconomic Policy Debates”slide 13 From Short Run to Long Run Prices:flexible vs.stickyMarket clearing:An assumption that prices are flexible,adjust to equate supply and demand.In the short run,many prices are sticky adjust sluggishly in response to changes in supply or demand.For example,many labor contracts fix the nominal wage for a year or longermany magazine publishers change prices only once every 3-4 yearsslide 14The economys behavior depends partly on whether prices are sticky or flexible:If prices are sticky,then demand wont always equal supply.This helps explainunemployment (excess supply of labor)why firms cannot always sell all the goods they produceLong run:prices flexible,markets clear,economy behaves very differently slide 154 Course ContentPart 1,the IntroductionHow economists measure economic variablesChapter lThe broad questions that macroeconomists addressChapter 2The key data of macroeconomics,emphasizing GDP,CPI,and the unemployment rateslide 16Part 2,“Classical Theory:The Economy in the Long Run”The economy in the long run over which prices are flexibleChapter 3The basic classical model of national income Chapter 4Money and the priceChapter 5Unemployment Chapter 6The open-economy macroeconomicsslide 17Part 3,“Growth Theory:The Economy in the Very Long Run”The classical analysis of the economy dynamic by developing the tools of modern growth theoryChapter 7Solow growth modelChapter 8Solow model with technological progressslide 18Part 4,“Business Cycle Theory:The Economy in the Short Run”The behavior of the economy when prices are sticky Chapter 9Key facts that describe short-run fluctuationsChapter 10The Keynesian crossChapter 11IS-LM modelChapter 12 MundellFleming modelChapter 13 Aggregate supply&tradeoff between inflation and unemployment Chapter 14 A dynamic model of AD&ASslide 19Part 5,“Macroeconomic Policy Debates”It considers what role the government should have in the economyChapter 15Stabilization policyChapter 16Government debt and budget deficits slide 205 Evaluation 30%homeworkclass exerciseclass testpresentation70%final examinationChapter SummaryMacroeconomics is the study of the economy as a whole,includinggrowth in incomes,changes in the overall level of prices,the unemployment rate.Macroeconomists attempt to explain the economy and to devise policies to improve its performance.slide 21Chapter SummaryEconomists use different models to examine different issues.Models with flexible prices describe the economy in the long run;models with sticky prices describe the economy in the short run.Macroeconomic events and performance arise from many microeconomic transactions,so macroeconomics uses many of the tools of microeconomics.slide 22