宏观经济学.ppt
《宏观经济学.ppt》由会员分享,可在线阅读,更多相关《宏观经济学.ppt(38页珍藏版)》请在咨信网上搜索。
1、ECONOMICS:Principles and Applications 3eHALL&LIEBERMAN 2005 Thomson Business and Professional PublishingSlides by:John&Pamela HallThe Classical Long-Run Model1The Classical Long-Run ModelEconomists sometimes disagree with each otherActually much more agreement exists among economists than there appe
2、ars to beOnce distinction between long-run and short-run becomes clearMany apparent disagreements among macroeconomists dissolveIf no time horizon is specified,however,an economist is likely to focus on horizon he or she feels is most importantSomething about which economists sometimes do disagree2T
3、he Classical Long-Run ModelIdeally,we would like our economy to do well in both long-run and short-runUnfortunately,there is often a trade-off between these two goalsDoing better in short-run can require some sacrifice of long-run goals,and vice versaPolices that can help us smooth out economic fluc
4、tuations may prove harmful to growth in the long-runWhile policies that promise a high rate of growth might require us to put up with more severe fluctuations in short-run3Macroeconomic Models:Classical Verses KeynesianClassical model,developed by economists in 19th and early 20th centuries,was an a
5、ttempt to explain a key observation about economyOver periods of several years or longer,economy performs rather wellIf we think in terms of decades rather than years or quarters,business cycle fades in significance In the classical view,this behavior is no accidentPowerful forces are at work that d
6、rive economy towards full employmentAn important group of macroeconomists continues to believe that classical model is useful even in shorter runIn 1936,in midst of Great Depression,British economist John Maynard Keynes offered an explanation for economys poor performanceArgued that,while classical
7、model might explain economys operation in long-run,long-run could be a very long time in arriving4Macroeconomic Models:Classical Verses KeynesianKeynesian ideas became increasingly popular in universities and government agencies during 1940s and 1950sBy mid-1960s,entire profession had been won overM
8、acroeconomics was Keynesian economicsClassical model was removed from virtually all introductory economics textbooksClassical model is still importantIn recent decades there has been an active counterrevolution against Keyness approach to understanding the macroeconomyUseful in understanding economy
9、 over long-runWhile Keyness ideas and their further development help us understand economic fluctuationsmovements in output around its long-run trendClassical model has proven more useful in explaining the long-run trend itself5Assumptions of the Classical ModelAll models begin with assumptions abou
10、t the worldClassical model is no exceptionMany of its assumptions are simplifyingMake model more manageable,enabling us to see the broad outlines of economic behavior without getting lost in detailsOne assumption in classical view that goes beyond mere simplificationMarkets clearPrice in every marke
11、t will adjust until quantity supplied and quantity demanded are equal6Assumptions of the Classical ModelMarket-clearing assumption provides hint about why classical model does a better job over longer time periods(several years or more)than shorter onesWell use classical model to answer a variety of
12、 important questions about economy in long-run,such asHow is total employment determined?How much output will we produce?What role does total spending play in the economy?What happens when things change?7How Much Output Will We Produce?How can we disentangle web of economic interactions we see aroun
13、d us?Decide which market or markets best suit the problem being analyzed,and Identify buyers and sellersIdentify type of environment in which they tradeBut which market should we start with?Logical start is market for resourcesLabor,land and natural resources,capital and entrepreneurshipWell concent
14、rate our attention on laborOur question isHow many workers will be employed in the economy?8Figure 1:The Labor Market9The Labor MarketLabor supply curve slopes upward Becauseas wage rate increasesmore and more individuals are better off working than not workingThus,a rise in wage rate increases numb
15、er of people who want to workto supply their laborAs wage rate increases each firm will find thatto maximize profitit should employ fewer workers than beforeWhen all firms behave this way together a rise in wage rate will decrease quantity of labor demanded This is why economys labor demand curve sl
16、opes downwardIn classical view,economy achieves full employment on its own10Determining the Economys OutputMost effective way to master a macroeconomic model is“divide and conquer”Start with part of model,understand it well,and then add in other partsAccordingly,our classical analysis of economy is
17、divided into two separate questionsWhat would be the long-run equilibrium of the economy if there were a constant state of technology And if quantities of all resources besides labor were fixed?What happens to this long-run equilibrium when technology and quantities of other resources change?11The P
18、roduction FunctionRelationship between total employment and total production in the economyGiven by economys aggregate production functionShows total output economy can produce with different quantities of laborGiven constant amounts of other resources and current state of technologyIn classical,lon
19、g-run view economy reaches its potential output automaticallyAn important conclusion of classical model and an important characteristic of the economy in long-runOutput tends toward its potential,full-employment level on its own,with no need for government to steer the economy toward it12Figure 2:Ou
20、tput Determination in the Classical Model13The Role of SpendingWhat if business firms are unable to sell all output produced by a fully employed labor force?Economy would not be able to sustain full employment for very longIf we are asserting that potential output is an equilibrium for the economyHa
21、d better be sure that total spending on output is equal to total production during the yearBut can we be sure of this?In classical view answer is yes14Total Spending in a Very Simple EconomyImagine a world with just two types of economic unitsHouseholds and business firmsCircular FlowA diagram that
22、shows how goods,resources,and dollar payments flow between households and firmsIn a simple economy with just households and firms in which households spend all of their incomeTotal spending must be equal to total outputKnown as Says Law15Figure 3:The Circular Flow16Total Spending in a Very Simple Ec
23、onomySays Law named after classical economist Jean Baptiste Say(1767-1832),who popularized the ideaIn Says own words“A product is no sooner created than it,from that instant,affords a market for other products to the full extent of its own valueThus,the mere circumstance of the creation of one produ
24、ct immediately opens a vent for other products”Says law states that by producing goods and servicesFirms create a total demand for goods and services equal to what they have produced orSupply creates its own demand17Total Spending in a More Realistic EconomyDoes Says law also apply in a more realist
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- 宏观经济学
1、咨信平台为文档C2C交易模式,即用户上传的文档直接被用户下载,收益归上传人(含作者)所有;本站仅是提供信息存储空间和展示预览,仅对用户上传内容的表现方式做保护处理,对上载内容不做任何修改或编辑。所展示的作品文档包括内容和图片全部来源于网络用户和作者上传投稿,我们不确定上传用户享有完全著作权,根据《信息网络传播权保护条例》,如果侵犯了您的版权、权益或隐私,请联系我们,核实后会尽快下架及时删除,并可随时和客服了解处理情况,尊重保护知识产权我们共同努力。
2、文档的总页数、文档格式和文档大小以系统显示为准(内容中显示的页数不一定正确),网站客服只以系统显示的页数、文件格式、文档大小作为仲裁依据,平台无法对文档的真实性、完整性、权威性、准确性、专业性及其观点立场做任何保证或承诺,下载前须认真查看,确认无误后再购买,务必慎重购买;若有违法违纪将进行移交司法处理,若涉侵权平台将进行基本处罚并下架。
3、本站所有内容均由用户上传,付费前请自行鉴别,如您付费,意味着您已接受本站规则且自行承担风险,本站不进行额外附加服务,虚拟产品一经售出概不退款(未进行购买下载可退充值款),文档一经付费(服务费)、不意味着购买了该文档的版权,仅供个人/单位学习、研究之用,不得用于商业用途,未经授权,严禁复制、发行、汇编、翻译或者网络传播等,侵权必究。
4、如你看到网页展示的文档有www.zixin.com.cn水印,是因预览和防盗链等技术需要对页面进行转换压缩成图而已,我们并不对上传的文档进行任何编辑或修改,文档下载后都不会有水印标识(原文档上传前个别存留的除外),下载后原文更清晰;试题试卷类文档,如果标题没有明确说明有答案则都视为没有答案,请知晓;PPT和DOC文档可被视为“模板”,允许上传人保留章节、目录结构的情况下删减部份的内容;PDF文档不管是原文档转换或图片扫描而得,本站不作要求视为允许,下载前自行私信或留言给上传者【精***】。
5、本文档所展示的图片、画像、字体、音乐的版权可能需版权方额外授权,请谨慎使用;网站提供的党政主题相关内容(国旗、国徽、党徽--等)目的在于配合国家政策宣传,仅限个人学习分享使用,禁止用于任何广告和商用目的。
6、文档遇到问题,请及时私信或留言给本站上传会员【精***】,需本站解决可联系【 微信客服】、【 QQ客服】,若有其他问题请点击或扫码反馈【 服务填表】;文档侵犯商业秘密、侵犯著作权、侵犯人身权等,请点击“【 版权申诉】”(推荐),意见反馈和侵权处理邮箱:1219186828@qq.com;也可以拔打客服电话:4008-655-100;投诉/维权电话:4009-655-100。