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1、第三章 宏观经济学中的微观经济学基础时间与均衡,掌握动态一般均衡的基础知识; 了解动态宏观经济学的微观基础; 从微观过渡到宏观,Reference,Equilibrium and Time, Chapter 20;in Mas-Colell, Whinston, Green, Microeconomics Theory,Oxford University Press,1995,Outline,Introduction Intertemporal Utility Intertemporal Production and Effeciency Equilibrium:One-Comsumer Ca
2、se Stationary Paths,Interest Rates and Golden Rules Dynamics Equilibrium:Several Consumers Overlapping Generations Remarks on Nonequilibrium Dynamics,1 Introduction,Structure of Time Dynamic Aspects Dynamics Equilibrium,2 Intertemporal Utility,Comsumption stream c=(c0,ct),Bounded,|ct|infinite Utilit
3、y function V(c) ; Time impatience; Stationarity; Additive seperability; Length of period; Recursive utility; Altrusim.,3Intertemporal production and Efficiency,Production set and function; Def:Production path,or trajectory,or program; Def: Efficient production path; Def: Pro Path is myopically profi
4、t max; TVC;,4 Equilibrium:One Consumer Case,Setting:Y,U,w; Def: Walrasian equilibrium Pro: TVC holds; Def: consumption is max if. Pro 20.D.7. Euler equationOptimization problem,5 Stationary paths,interest rates and golden rules,Pro 20.E.2 r0 or r0; Golden Rule,6 Dynamics,Forms of Dynamics (see figur
5、e20.F1-4) Shocks:Transitory or Permanent (fig 20.F.7),7 Equilibrium:Several Consumers,Def: Walrasian (competitive) equilibrium 20.G.1 Pro: Walrasian equilibrium-Pareto optimal Pro 20.G.2: Several almost equal one, that means, we could use one agent,8 OLG,Intergeneration trade are possible; Two period (Yong ,then Old); Budget constraint (20.H.1-2) Def: Walasian Equilibrium (Def 20.H.1) Pro: Walrasian is pareto optimum(Pro 20.H.1) Multiplicity of equilibrium,9 Non-equilibrium Dynamics,Short run equilibrium and permanent income Short-run law of demand in OLG Models Learning,