统计数字(的资料).pptVIP

Macro Lecture 3 (S2005) Outline Ch.23 -- Measuring a Nation’s Income Ch.24 -- Measuring the Cost-of-living 引言: from individual to economy P1C1 + P2C2 no greater than I price-taking consumer’s constraint But now for the nation … Any difficulties? (watch out: planned vs. realized) Ch.23 -- Measuring a Nation’s Income Motivation Q: Can you find a good job four years later? A: It depends on the markets. Enter the labor force in a yr of economic expansion vs. in a yr of economic contraction Condition of overall economy affects us! Newspapers: statistics 統計數字(資料) -- for the economy What are they? How can we predict or change them? Here are some most important (macroeconomic) statistics GDP: measure total income of everyone in the economy Inflation rate: the rate at which average prices are rising Unemployment rate: percentage of labor force that is out of work Retail sales: total spending (by households) at (retail) stores From micro to macro Microeconomics: the study of how households and firms make decisions and how they interact in markets Macroeconomics: the study of economy-wide phenomena, including inflation, unemployment, and economic growth. Key observation: economy is just a collection of many households and firms interacting in many markets Hence, both are closely linked From micro to macro (continued) Closely linked; differing in methodology! Let data speak first Ways to measure performance: national income [Ch.23] cost-of-living (price level) [Ch.24] well justified. Understanding income and expenditure (p.500) For an economy as a whole, income must equal expenditure. Why? Hints: recall the circular flow diagram (p.501) also next slide Each transaction has (at least) two parties involved. Only activities matter, which cannot be double-counted. circular flow diagram (a slightly complicated version) Continued from last slide Any shortcoming? Y := C + I + G Y := C + S + T How to in