武汉大学金融系各科课件初级宏观OVERIVEW OF THE TXTBOOK.ppt

OVERIVEW OF THE TEXTBOOK CORE: OUTPUT ( OR INCOME) LEVEL Part Five Macroeconomics: The Study of Economic Growth and Business Cycles (Short Run) Part Six Economic Growth and the Open Economy?(Long Run and Open) Part Seven Unemployment, Inflation, and Economic Policy (Various Problems) MACROECONOMICS Macroeconomics: The Study of the Economy as a Whole. The Study of Economic Growth and Business Cycles Key indicators: Output (= Income) or GDP Unemployment Price Level 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 Environment: Excess Capacity Short run The production responds to the change in aggregate demand Price not considered Closed Economy Note: These do not hold for Ch 20 and 21. Problems: Overview pf Macroeconomics (CH 20) Measure Total Output (CH 21) Determination of Total Output (CH 22-26) Part Five Macroeconomics: The Study of Economic Growth and Business Cycles 20 Overview of Macroeconomics 21 Measuring Economic Activity 22 Consumption and Investment 23 Business Fluctuations and the Theory of Aggregate Demand 24 The Multiplier Model 25 Money, Banking, and Financial Markets 26 Central Banking and Monetary Policy Chapter 20 Overview of Macroeconomics Fundamental Concerns of Macroeconomics (414L-415R) Business Cycle Output and Employment General Price Level or Inflation Economic Growth Note: Trade off exist No consistent view 2. Basic Indicators Describing Performance of The Economy as a Whole Output GDP Nominal and Real; Potential versus Actual Economic growth Employment or unemployment Price Level Inflation: Consumer price Index Deflation Real GDP and Nominal GDP Actual GDP and Potential GDP 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 A Picture of the Way the Economy Work Framework of Macroeconomics (Fi