Macro2Macroeconomic Data and Variables宏观经济学(南开大学,龚刚).pptVIP

Lecture 2Macroeconomic Data and Variables Macroeconomics I. Macroeconomic Variables Gross Domestic Product, GDP Definition： GDP is the total market value of all final goods and services produced by a country within a certain period (a quarter or a year). I. Macroeconomic Variables Gross Domestic Product, GDP (continued) The importance The variable reflects the economic activity level within a country. The so-called economic growth is referred to the growth in GDP. The so-called per capita GDP is often used for measuring the living standard of a country. It is perhaps the most important variable in macroeconomics. I. Macroeconomic Variables Gross Domestic Product, GDP (continued) Here，the so-called final product is referred to those products that are not used as intermediate input. For example,... In addition, we shall also distinguish nominal GDP (calculated on current price) and real GDP (calculated on fixed, base year, price). I. Macroeconomic Variables Price and Inflation Inflation is another problem that will be concerned in macroeconomics. Higher inflation may bring problem to the economy. The inflation rate is a measure of the degree of inflation problem. It is referred to the growth rate of price level. I. Macroeconomic Variables Price and Inflation (continued) There are mainly three statistic indices to measure price level: GDP deflator; consumer price index; producer price index. I. Macroeconomic Variables Unemployment and Unemployment Rate The unemployment is another important problem that is concerned in macroeconomics. Unemployment rate is the measure of the extent of unemployment problem. This is the ratio of unemployment to total labor force. II. Some Stylized Factors, Evidence from Developed Countries Why Important ? A proper macroeconomic theory should be able to express the stylized factors as we observed from the empiric. II. Some Stylized Factors, Evidence from Developed Countries Economic Growth and Business Cycles An economy is gene