北京外国语大学《宏观经济学》课件-第2章National Income Accounting.pptxVIP

Chapter 2 – National Income Accounting1. Economic Flow Cycle2. GDP 3. Price Indexes4. Unemployment Rate, Interest Rates, Exchange Rates北京外国语大学《宏观经济学》 Two-sector model (households, firms)Three-sector model (households, firms, government)Four-sector model (households, firms, government, abroad) Production function Y = f(N, K) = Supply北京外国语大学《宏观经济学》 In equilibrium,Goods market: Y = Demand = C + I + G + NX Factors market: Y = w?N + r?K + profit = Income Some Important IdentitiesTwo-sector: S = IThree-sector: S = I + (G+TR-TA)Four-sector: S = I + (G+TR-TA) + NX Chapter 2 – National Income Accounting1. Economic Flow Cycle2. GDP 3. Price Indexes4. Unemployment Rate, Interest Rates, Exchange Rates GDP (gross national product) is the value of all final goods and services produced in the country within a given periodGDP = PY GNP (gross national product)NDP (net domestic product) = GDP-depreciationNI (national income)= NDP-indirect tax GDP CalculationFinal goodsCurrent output GDP CalculationProduction ApproachValue addedExpenditure ApproachC + I + G + NXIncome Approach Video timeGDP calculation in China Expenditure Approach(1) ConsumptionConsumption spending by the household sectorExcludes new house Expenditure Approach(2) InvestmentAdditions to the physical stock of capitalHousing constructionInventory investment?Human capital Expenditure Approach(3) Government purchaseNational defense expendituresCosts of road paving Salaries of government employees. Expenditure Approach(4) Net exportExport subtract import International Comparison %，2003　C G I ExportImport Saving China401344343247World621721242421Low-income Countries671323212420Middle-income Countries571525333028High-income Countries631820222320 As a measure of the output and of the welfare, what are the problems of GDP? Problems of GDP(1) Outputs are not traded in the market(2) Crime, risks to national security, pollution.(3) Quality Chapter 2 – National Income Accounting