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1、OVERIVEW OF THE TEXTBOOKCore: Output ( or Income) LevelPart Five Macroeconomics: The Study of Economic Growth and Business Cycles Part Six Economic Growth and the Open Economy Part Seven Unemployment, Inflation, and Economic PolicyPart FiveMacroeconomics: The Study of Economic Growth and Business Cy
2、cles 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
3、FiveMacroeconomics: The Study of Economic Growth and Business Cycles20 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 Banki
4、ng and Monetary Policy1.The following is information from the national income accounts for a hypothetical country:-GDP 6,000Gross investment 800Net investment 200Consumption 4,000Government purchases 1,000Government budget Surplus 40 - What is:a. NDP? b. Net exports? c. Net tax?d. Disposable persona
5、l income? e. Personal saving? 2. 已知一国某年经济数据如下：私人对住宅 的支出为1000亿，私人购买的汽车等耐用消 费品为100亿，私人在食品等日用消费品上 的开支为400亿，企业对厂房、设备的购买 为1200亿，政府支出为300亿，政府转移支 付为100亿，总税收为200亿，当年出口为 600亿，进口为800亿，折旧、存留利润各 100亿。请只根据上述数据（缺损数据理解 为零）计算如下指标：（1）国民生产总值;（2）私人总投资;（3 ）私人消费支出;（4）私人储蓄;（5）政府 预算赢余;（6）国内对各种产品的总支出; （7）对国内产品的总支出;（8）可支配收
6、入。3. Suppose that the basket of goods in the CPI consisted of 3 units of pork and 2 units of corn. Use the table to answer： （1）What is the consumer price index for 2004 if the base year is 2003? （2）What is the inflation rate for 2004? yearprice of porkprice of corn2003$20 $202004$20 $304. Show that:
7、 I - S TA G TR + M X. And explain its implication. CHAPTER 22 CONSUMPTION AND INVESTMENT 1. Consumption, Income, and SavingRecall: DI = SP + CSP -Personal savingC -Consumption 2. Determinants of Consumption (464-467)Current DIPermanent incomeWealthPrice levelInterest rate3. Useful Concepts Marginal
8、Propensity to ConsumeMarginal Propensity to Consume (MPC)-The increment to the consumption induced by an extra dollar of DI, and Marginal Propensity to SaveMarginal Propensity to Save (MPS)- The increment to the saving induced by an extra dollar of DIMPS+MPC=1 Autonomous ConsumptionAutonomous Consum
9、ption: Consumption independent from disposable income. DI10002000300040005000Consumption11002000280037004400MPC 0.90.80.70.44. The Influence of Disposable Income on Consumption People consume goods or services even if they do not have income Consumption increases with the increase in DI. The increas
10、e in consumption is less than the increase in DI 5. The Consumption FunctionA function relating consumption to DI.C = C + c Y6. Investment 6.1 Determinants Revenues Costs, including interest rate Expectations 6.2 Investment Demand CurveA curve relating investment to interest rateCHAPTER 23 BUSINESS
11、FLUCTUATIONS ANDAGGREGATE DEMAND1. The Business Cycle Peak-Recession-Depression-Trough- Recovery-Expansion-Peak (Boom). 2. Sources of Cycles Exogenous (内生） vs. Endogenous （外生） Two sources: Demand side and Supply side3. Aggregate Demand 3.1 Why Aggregate Demand: Excess Capacity 3.2 What is Aggregate
12、DemandAD is desired or planned aggregate expenditures at each level of price 3.3 Components of ADC-ConsumptionI-InvestmentG-Government PurchaseX-Net Export (Export Import) 3.4 Understanding AD: Two different kinds of Aggregate Expenditure GDP = Actual Aggregate Expenditure AD = Desired Aggregate Exp
13、enditure Item of Aggregate Expenditure Intended?Actual?Components ConsumptionYesYesInvestmentnot sureYesIntended + unintended Fixed InvestmentYesYesInventory Investmentnot sureYesIntended + unintended Government PurchaseYesYesNet ExportYesYesExportYesYesImportYesYesAggregate Expenditure (AE)Actual-N
14、ational AccountingIntended-Aggregate Demand Actual AE = Intended AE + Unintended AE AD = Intended AE=Actual AE Unintended AE= (C + Iactual + G + X) Iunintended= (C + Ifixed + Iinventory-actual + G + X) Iinventory-unintendedRecall Investment-New addition to the current capital stock or private purchases of structures and equipment and accumulation of inventories I = fixed investment + inventory investment Fixed Investment = spending on machine, equipment, and housing Inventory Investment = Inventory Stock in the end of this year - Inventory Stock in the end of last year Ne
