经济学宏观经济学及习题.pptx

Click to edit Master title style,Click to edit Master text styles,Second level,Third level,Fourth level,Fifth level,Chapter 7:Economic Growth,Productivity,and Living Standards,Slide,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,Chapter 7:Economic Growht,Productivity,and Living Standards,#,MB,MC,Copyright c 2007 by The McGraw-Hill,Companies,Inc.All rights reserved.,Important Concepts,Compound interest,复利,Diminishing returns to capital,资本收益递减,Entrepreneur,企业家,Chapter outline,The sources of economic growth and rising living standards in the modern world,Analyze each of there factors and discuss its implications for government policies to promote growth,Introduction,“,Which would you rather be?An ordinary,middleclass American living today,or the richest person in America at the time of George Washington?”,You can think of enormous change in the way average people live,These changes are due in large part to scientific advances.,New scientific knowledge leads to widespread improvements in living standards only when it is commercially applied,.,the remarkable rise in living standards:the record,Compound interest,Why nations become rich:the crucial role of average labor productivity,Real GDP per Person In Selected Countries,1870-2003(in 2000 U.S.Dollars),Country,Australia5,5127,2369,36917,67028,3121.22.1,Canada2,3285,5098,90619,88229,2011.92.3,France2,2914,4846,16418,13826,1761.82.8,Germany1,1522,2184,78517,22225,2712.33.2,Italy2,8524,0185,12816,91225,4581.73.1,Japan9311,7632,14116,32926,6362.64.9,United Kingdom3,8925,9768,70916,55726,8521.52.1,United States2,8876,85212,11022,83535,4881.92.0,Annual%change 1950-2003,Annual%change 1870-2003,1870,1913,1950,1979,2003,Real GDP per Person in Five Industrialized Countries,1870-2003,Observation,The variety,quality,and quantity of goods and services increased enormously during the 19th and 20th centuries,as reflected in real per capita GDP.,Real GDP per Person In Selected Countries,1870-2000(in 1995 U.S.Dollars),Country,Australia5,6267,3859,56118,03324,7081.11.9,Canada2,4475,7919,36220,89926,6041.82.1,France2,2494,4016,04917,80122,4471.82.6,Germany1,2052,3205,00518,01423,2472.33.1,Italy2,2483,1674,04213,33121,9301.83.4,Japan9631,8252,21616,89924,7722.54.8,United Kingdom3,5005,3747,83214,88921,1421.42.0,United States28436,74511,92122,48032,6291.92.0,Annual%change 1950-2000,Annual%change 1870-2000,1870,1913,1950,1979,2000,Observations,1870:Australia had the highest per capital real GDP and Japan the lowest,2000 real per capita GDP in Japan exceeded Australia,Note the difference in the growth rate of 1.1%for Australia and 2.5%for Japan,Real GDP per Person In Selected Countries,1870-2003(in 2000 U.S.Dollars),Country,Australia5,5127,2369,36917,67028,3121.22.1,Canada2,3285,5098,90619,88229,2011.92.3,France2,2914,4846,16418,13826,1761.82.8,Germany1,1522,2184,78517,22225,2712.33.2,Italy2,8524,0185,12816,91225,4581.73.1,Japan9311,7632,14116,32926,6362.64.9,United Kingdom3,8925,9768,70916,55726,8521.52.1,United States2,8876,85212,11022,83535,4881.92.0,Annual%change 1950-2003,Annual%change 1870-2003,1870,1913,1950,1979,2003,Observations,2000 Real Per Capital GDP in Japan was greater than Australia,2003 Australias Real Per Capita GDP was greater than Japan,Small changes in growth rates make a big difference,Compound Interest,The payment of interest not only on the original deposit but on all previously accumulated interest,Why“Small”Differences in Growth Rates Matter,Why“Small”Differences in Growth Rates Matter,Compound Interest,Suppose:,In 1800$10 deposited 4%interest,In 2005 the account is worth$25,507.50,$10 x(1.04),205,=$31,033.77,Why“Small”Differences in Growth Rates Matter,Interest rate(%)Value of$10 after 205 years,2$579.48,4$31,033.77,6$1,540,644.29,Observations,A small sum compounded over long periods can greatly increase in value,Small differences in interest have a very large impact on value,Compound Interest,Economic growth rates are similar to compound interest rates.,Government policies that affect the long-term growth rate by a small amount will have a major economic impact.,Why Nations Become Rich:The Crucial Role of Average Labor Productivity,Question,What determines a nations economic growth rate?,Some definitions:,Y,=real GDP,N,=number of employed workers,POP,=total population,Real GDP Per Person,Real GDP Per Person,Observations,Real output/person depends on:,How much each worker can produce.,The percent of the population that is working.,Real GDP per Person and Average Labor Productivity in the U.S.,1960-2004,Real GDP per person grew by 166%between 1960 and 2004,Share of the U.S.Population Employed,1960-2004,Increases in both labor productivity and the working people contribute to this rise in living standard,Why Nations Become Rich:The Crucial Role of Average Labor Productivity,What determines a nations economic growth rate?,In the long run,increases in output per person arise primarily from increases in average labor productivity.,.,The Determinants of Average Labor Productivity,A.Human Capital,The talents,education,training,and skills of workers,Example,Lucy and Ethel on the assembly line,Lucy and Ethel wrap and box chocolate candies.,Lucy(a novice)wraps 100 candies/hr or 4,000/week,Ethel(received on-the-job training)wraps 300/hr or 12,000/week,Average labor productivity/week=16,000/2=8,000/week or 16,000/80 hrs=200 candies/hr,Ethel(with training)is more productive than Lucy,B.Physical Capital,Worker productivity depends not only on their skills(human capital)but on the tools(physical capital)they have to work with.,Example,Lucy and Ethel get automated,Candy Co buys a candy-wrapping machine operated by one worker,An untrained worker using the machine can wrap 500 candies/hr,Lucy uses the machine and Ethel wraps by hand,Example,Lucys weekly output(40 hrs x 500)=20,000 candies,Ethels weekly output(40 hrs x 300)=12,000 candies,Total output=32,000 candies/week or average labor productivity=16,000 candies/week or,32,000/80 hrs.=400 candies/hr.,Double the average productivity with the machine,Average Labor Productivity and Capital per Worker in 15 Countries,1990,Capital,Output,and Productivity in the Candy-Wrapping Factory,(1),Number of machines(capital),016,00080200,132,00080400,240,00080500,340,00080500,(2),Total number of candies wrapped each week(output),(3),Total hours worked per week,(4),Candies wrapped per hour worked(productivity),Observations,For a given number of workers,adding capital will generally increase output and average labor productivity,The more capital that is already in place,the smaller the benefits of adding extra capital,Diminishing Returns to Capital,If the amount of labor and other inputs employed is held constant,then the greater the amount of capital already in use,the less an additional unit of capital adds to production.,Physical Capital,Public policy designed to stimulate growth should consider that:,Increasing the amount of capital available to the workforce will tend to increase output and average labor productivity.,The degree to which productivity can be increased by an expanding stock of capital is limited.,C.Land and Other Natural Resources,Generally,an abundance of natural resources increases the productivity of workers.,Resources can be obtained through international markets.,D.Technology,New technologies are the single most important source of productivity improvement.,A new technology will expand the productivity in many sectors by stimulating greater specialization.,E.Entrepreneurship and Management,Entrepreneurs,People who create new economic enterprises,Entrepreneurship and Management,Factors influencing entrepreneurship,Taxation,Regulation,Social Customs,Entrepreneurship and Management,Management:,Influence productivity by implementing more efficient methods of production.,F.The Political and Legal Environment,Establish:,Well-defined property rights,Maintain,political stability,Promote,free and open exchange of ideas,.The Costs of Economic Growth,The opportunity cost of increasing the production of capital goods is:,Less consumer goods.,Reduced leisure time,workers safety,and health.,The cost of R&D.,The cost of education(human capital).,What Do You Think?,Do the benefits of economic growth exceed the costs?,.,Promoting Economic Growth,Policies to increase human capital,Policies that promote saving and investment,Policies that support research and development,The legal and political framework,Why do almost all countries provide free public education?,Policies that promote saving and investment,Tax code provisions,Public investment and creatio