武汉大学金融系各科教材初级宏观OVERIVEW OF THE TEXTBOOK培训资料.pptVIP

OVERIVEW OF THE TEXTBOOK;MACROECONOMICS;Figure 1 The Circular-Flow Diagram;Perspectives:;短期波动理论的分析思路;Part Five Macroeconomics: The Study of Economic Growth and Business Cycles;Chapter 20 Overview of Macroeconomics;2. Basic Indicators Describing Performance of The Economy as a Whole ;Real GDP and Nominal GDP Actual GDP and Potential GDP;ACTUAL AND POTENTIAL OUTPUT, 1959-2000;THE BUSINESS CYCLE;3. Objectives of Macroeconomic Policy (Table 20-1) 4. Policy Instruments Fiscal Policy Monetary Policy;5. Basic Forces Inside the Macroeconomy----Aggregate Demand and Aggregate Supply ;5.1 Aggregate Supply and Its Determinants The AS-curve (or Schedule) describes the quantity of goods and services firms are willing to supply at each price level. Forces behind the AS curve: Potential output (productive capacity) Resources such as: Level of costs Various polices;5.2 Aggregate Demand and Its Determinants The AD-curve (or schedule) shows all possible combinations of the price and output level A change in price level (price adjustment) will result in a movement along the AD-curve. Components of AD AD = C + I + G + X Forces behind the AD curve: Money stock, Interest rate, exchange rate, consumer confidence, producer confidence, exchange rate, foreign economic activities, government actions;;AN INCREASE IN THE NOMINAL MONEY STOCK SHIFTS AGGREGATE DEMAND TO THE RIGHT;5.4 Changes in GDP Caused by AD Shifts Suppose AD increases =AD curve shifts to the right Result: GDP and price level increase simultaneously Forces to increase AD: Recall: AD = C + I + G + X The AD-curve shifts to the right (left) whenever expansionary (restrictive) fiscal or monetary policies are employed. ;A LEFTWARD SHIFT OF AGGREGGATE SUPPLY;5.5 GDP Changes Caused by AS Shifts Suppose AS increases =AS curve shifts to the right Result: GDP increases and price level goes down Forces to increase AS: Resources, Capital stock, Technology;5.6 Case Study: Macroeconomic History Great depression: