宏观经济学课件:L2 Static Models.pdf

宏观经济学课件:L2 Static Models.pdf

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该文档是极速PDF编辑器生成, 如果想去掉该提示,请访问并下载: / Lecture 2: Static Models L2: Static Models Topics to be covered... • Key players in the model – Consumers: work-leisure decisions – Producers: profit maximization – Government. • A one-period model – Equilibrium; optimality; implications; extensions c Gu JIN L2: Static Models Fall 2015, CUFE The Representative Consumer • We consider the behavior of a single representative consumer, who acts as a stand-in for all of the con- sumers in the economy. – What is the preference of such a consumer? – How to represent his budget constraint? – How will the consumer behavior be determined via optimizations? c Gu JIN L2: Static Models Fall 2015, CUFE The Representative Consumer’s Preferences • The representative consumer only cares about: – Consumption: C – Leisure: l • His ultimate goal: happiness – max U (C, l) c Gu JIN L2: Static Models Fall 2015, CUFE The

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