ppt课件-m a c r o e c o n o m i c s- georgia state university（m c r o e c o n o m i c s -乔治亚州立大学）.pptVIP

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ppt课件-m a c r o e c o n o m i c s- georgia state university（m c r o e c o n o m i c s -乔治亚州立大学）.ppt

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MACROECONOMICS Unit of analysis: economy as a whole Variables of interest: Level of economic activity, unemployment, inflation, currency exchange…. Basic Definitions Open vs Closed Economy presence of foreign sector Private Vs. Mixed presence of government sector Economic Growth per capita GDP based on PPP Measuring Economic Activity Stock point in time wealth, debt, unemployment, account balance Flow over a period of time income, GDP Nominal vs Realadjusting for inflation Nominal GDP is measured at current prices Real GDP is measured at constant prices (like 1992) other important statistics Unemployment the total number of adults (16 and up) who are willing and able to work and who are actively looking for work, but have not found a job Labor Force adults who are either employed or unemployed Unemployment rate = Unemployed / Labor Force Structural, Cyclical, Frictional, Seasonal Inflation vs deflation Inflation – the situation in which the average of all prices in the economy is rising GDP deflation, CPI, PPI, Core CPI, Core PPI costs of inflation and the business cycle menu costs redistribution of wealth forward looking arrangements and the real interest rate currency depreciation and the standard of living RECESSION two consecutive quarters of negative growth Components of the GDP Personal Consumption Goods Durable Non-durable Services Gross Private Domestic Investment Fixed Investment Non-residential Structure Equipment and software Residential Business Inventories Components of the GDP Government Spending Federal and State and Local level Exports of goods and services Imports of goods and services GDP = C + I + G + x - m macro picture of the US economy stunning growth of the late 1990’s and now Average Growth Rates by Component, 1996-2000 Can Euro be yet another problem? Price of oil International reserve currency Competition for investment funding Simple view of the business cycle Business cycle Predicting the future The magical