chatper 5 investment.pptVIP

Chapter 5:Investment and saving 美国3名经济学家分享2007年诺贝尔经济学奖 据诺贝尔官方网站消息，瑞典皇家科学院15日宣布， 美国明尼苏达大学经济学教授赫尔维茨(Leonid Hurwicz) 新泽西普林斯顿高等研究院讲座教授的埃里克·马斯金(Eric S. Maskin) 芝加哥大学经济学教授罗格·迈尔森（Roger B. Myerson） 因为机制设计理论(Mechanism design)研究上的贡献而共同获得2007年诺贝尔经济学奖。 checklist When you have completed the chapter,you will be able to Define and explain the relationship among capital,investment,wealth,and saving Explain how investment and saving decisions are made Explain how government influences the real interest rate,investment,and saving. Waste or Save Father: Oh, Jack, you have slept away the whole morning. Dont you know you are wasting time? Jack: Yes, Dad. But Ive saved you a meal, haven I? 学习目标 描述投资和资本存量的增长和波动 描述实际利率的波动 解释如何做出投资决策 学习目标（续） 解释家庭如何做出储蓄决策 解释投资和储蓄如何相互作用以决定实际利率 学习目标（续） 解释政府如何影响实际利率、储蓄和投资 解释如何决定国际信贷 5.1 capital ,investment Capital Physical capital Is the tools,instruments,machines,buildings and the other constructions that have been produced in the past and that are used to produce goods and services. Financial capital The funds that firms use to buy and oprate physical capital investment Investment Is the purchase of new capital goods and additions to inventories(存货). Depreciation Is the decrease in the value of capital that results from its use（磨损） and from obsolescence（过时） Gross investment The total amount spent on new capital goods Net investment Equals gross investment minus depreciation 投资和资本存量：1970~1998年 投资和资本存量：1970~1998年 美国和世界各国的投资：1970~1998年 Practice problem 1 Michael is an Internet service provider. On December 31,2005,he bought an existing business with servers and a building worth $400,000. During his first year of operation,hes business grew and he bought new servers for $500,000. The market value of some of his older servers fell by $100,000. A.what was Michael’s gross investment during 2006 ? B. What was Michael’s deprciation during 2006? C. What was Michael’s net investment during 2006? D. What was Michael’s capital at the end of 2006? Wealth and savi