Macroeconomics Presentation施羽何明慧章毓琬.pptxVIP

19.20.21 ;Chapter 19 Introduction to Macroeconomics;※What are Macroeconomics and Microeconomics?;※What does Macroeconomics concern ?;Government policy makers would like to have high output growth , low unemployment, and low inflation. We will see that these goals may conflict with one another and that an important point in understanding macroeconomics is understanding these conflicts.;※Output Growth;5.Business cycle: the cycle of short –term ups and downs in the economy. Each business cycle consists of two parts: ups (usually called expansion or a boom) and downs (usually called contraction, recession or slump);In this business cycle, the economy is expanding as it moves through point A from the trough to the peak. When the economy moves from a peak down to a trough, through point B, the economy is in recession. ;※Unemployment ;※Inflation and Deflation;※The Components of the Macroeconomy ;※The Circular Flow Diagram;One lesson of the circular flow diagram is that everyone’s expenditure is someone else’s receipt. Every transaction must have two sides.;※The Three Market Arenas;3.Money Market : In the money market—sometimes called the financial market—households purchase stocks and bonds from firms.;Dividends: The portion of a firm’s profits that the firm pays out each period to its shareholders.;20.Measuring National Output and National Income ;Final Goods and Services;value added: The difference between the value of goods as they leave a stage of production and the cost of the goods as they entered that stage.;Exclusion of Output Produced Abroad by Domestically Owned Factors of Production;The Income Approach;NNP:net national product---Gross national product minus depreciation; a nations total product minus what is required to maintain the value of its capital stock. ;;Calculating the GDP Deflator;Gross National Income per Capita;21.Unemployment，Inflation，and Long-Lun Growth;Chapter Outline Unemployment Measuring Unemployment