经济与金融学院-MacroeconomicsInTheGlobalEconomy.pptVIP

Macroeconomics In The Global Economy Wei wei Shool of Economics and Finance Jiaotong University Chapter 1 Introduction The approach of Macroeconomics Some of the key questions addressed by macroeconomics Macroeconomics in historical perspective Providing a broader framework for macroeconomic analysis The approach of Macroeconomics  What is macroeconomics ? Macroeconomics is the study of aggregate behavior in an economy. While the economic life of a country depends on millions of individual actions taken by business firms, consumers, workers, and government officials, macroeconomics focuses on the overall consequences of these individual actions. For example, prices---- price index. The approach of Macroeconomics The basic approach of Macroeconomics is to look at the overall trends in the economy. Special summary measures of economic activity ---GNP, the saving rate, or the consumer price index--- give the “big picture” of changes and trends. These overall macroeconomic measures provide the basic equipment that allows macroeconomists to focus on the dominant changes in the economy. How do economists do their job? First, try to understand on a theoretical level the decision processes of individual firms and households. Second, try to explain the overall behavior of the economy by aggregating, or adding up, all the decisions of the individual households and firms in the economy. Third, giving empirical content to theory by collecting and analyzing actual macroeconomic data. Some of the key questions addressed by macroeconomics The most important single measure of production in the economy is the GNP. Economic growth and business cycles Unemployment is a second key variable that macroeconomics investigates. A third key variable that interests macroeconomists is the inflation rate. The fourth major variable that macroeconomists look at is the trade balance. Macroeconomics in historical perspective The creation of macroeconomics Economic stati