Macroconomics宏观经济学.docVIP

Macroeconomics ---------------------------------------------------------------------------------------------------------------------- Part I Introduction Chapter 1 The Science of Macroeconomics 【】 【】 ∑PmQ / ∑PnQ (3) difference between GDP deflator and CPI 3. The Unemployment Rate (1) Labour Force = Number of Unemployment + Number of Employment (2) Unemployment Rate = Number of Unemployment / Labour Force × 100% ---------------------------------------------------------------------------------------------------------------------- Part II Classical Theory: The Economy in the Long Run ---- Flexible Price Chapter 3 National Income: Where It Comes From and Where It Goes 【Mainpoints】 Total Production (1) Production Function: Y = F(L,K) (2) constant returns to scale: zY = zF(L,K) 2. National Income Distribution (1) Factor Prices ---- Labour: MPL = F(L+1,K) - F(L,K) ΔProfit = ΔRevenue - ΔCost = MPL×P - W In order to maximize profit, make ΔProfit = 0. So MPL=W/P, Real Wage Labour Income = MPL×L (2) Factor Prices ---- Capital MPK = F(L,K+1) - F(L,K) ΔProfit = ΔRevenue - ΔCost = MPK×P - R In ordet to maximize profit, make ΔProfit= 0 . So MPK=R/P, Real Rental Price of Capital Capital Income = MPK×K The Cobb-Douglas Production Function Labour Income = MPL×L = (1-α)Y Capital Income = MPK×K = αY → F(K,L) = AKαL(1-α) , A measures the productivity of the available technology Total Demand Consumption: Determined by disposable income C=C(Y-T) Marginal Propensity to Consume MPC=C(Y-T+1)-C(Y-T) Investment: Determined by interest rate I=I(r) When r is high, investors will give up investment because cost of loan is higher than rate of return. 3) Government Purchases G vs T, measures government budget 5. Equilibrium (in a closed economy) (1) Market of Goods and Services Y=C(Y-T)+I(r)+G (2) Market of Loanable Funds S=Y-C(Y-