AP宏观经济学考点最全总结Word文档格式.docx
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AP宏观经济学考点最全总结Word文档格式.docx
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GDPisthemarketvalue(产量*价格)ofallfinalgoodsandservices(只算最终产品,比如西班牙人吃一种用橡树果喂养的猪,那么被猪吃了的那些橡树果就不算,只算猪,不然就重复计算了,因为猪的价格里已经包括橡树果的成本了;
供人吃的那些橡树果当然算)produced(当年生产的才算,二手货交易不算;
疑难点是当年生产但没卖出去的怎么办?
也计入GDP,算在investment里的存货)withinacountry(无论国籍,只要在地理范围内就算)inagivenperiodoftime.
2、GDP的组成部分ComponentsofGDP,国家在统计每年GDP时,看家庭、企业、政府和国外四部分在当年的消费情况。
GDP=C+I+G+NX恒等式
Consumption:
家庭消费。
家庭今年总共购买了多少,汽车、理发、饮料等。
Investment:
企业投资,包括建工厂、买设备、新建住宅、存货(当年没卖出的,默认企业自己“买”了,例如联想2010年生产500台电脑,家庭购买300台,剩余200台,计入2010年的Consumption为300*单价,计入Investment为200*单价,2011年那200台也被家庭购买走了,于是2011年的Consumption为200*单价,Investment为负200*单价,正负抵消,于是2010年生产的那500台全部计入了2010年GDP,没有在2011年重复计算)等。
GovernmentPurchase:
各级政府为的公务花费,如公务员工资、公务车、公共服务建设、公立学校老师工资等。
Netexports:
净出口(出口-进口)。
疑难点:
为什么要减去进口呢?
因为在算C、I、G的时候,并未区分是否是进口货,比如家庭或企业或政府买了一辆进口车,这时候算出来的GDP就不符合定义了(withinacountry),因此要刨除进口部分。
3.实际与名义GDPRealvs.nominalGDP
前者是按固定价格计算的物品与劳务的生产,后者指按当年价格计算的。
设定一个基准年baseyear很关键,我国在统计这些年的GDP时都把2000年作为基年。
4、GDPdeflator=100*名义GDP/实际GDP
某年的实际与名义GDP的区别就在于价格,产量可是一样的!
于是名义与实际之比就能反映物价水平了!
注意:
基年的GDP平减指数为100,每年的GDP平减指数反映了与基年相比物价的变化。
因为基年的名义与实际GDP选取的价格都是当年的,所以基年的名义GDP/实际GDP=1!
!
例如,在2000年建了3套100平米住宅,单价是20万,而09年同样的住宅建了6套,单价是100万。
基年是2000年的话,2009年的名义GDP是6*100=600万,实际GDP是6*20=120万。
2000年的名义GDP=3*20=60万,实际GDP=3*20=60万。
09年的GDP平减指数为100*600/120=500,2000年的GDP平减指数为100,平减指数反映了当年的物价水平,因此能看出09年的物价是2000年的5倍。
Inflation,Unemployment,andStabilizationPolicies(20–30%)通货膨胀、失业与稳定政策
财政政策指政府通过改变税收和政府支出来影响总需求,进而影响就业和国民收入的政策;
货币政策指中央银行通过调整经济中的货币量来影响就业和国民收入的政策,常用的是改变利率。
短期内,当总需求增加时,价格的上升伴随着产出的增加,从生产函数的角度来看,产出的增加意味着投入的增加,短期内产出的增加只能靠劳动投入的增加来实现,这就意味着失业率的下降,通货膨胀率与失业率的这种反向变动的关系,就称为短期菲利普斯曲线。
但在长期中,总需求的增加仅仅带来价格水平的上涨,而没有产量的增加,这时通货膨胀与失业率无关,失业率固定在一个水平,这是长期菲利普斯曲线。
Inflation通货膨胀
inflation:
anincreaseintheoverallpricelevel=decreaseofpurchasepowerofcurrency
whenincreasingmoneysupply,realwealthshiftstomoneymaker
Moneyneutrality:
aponetimechangeinmoneysupplywillhavenorealeffectinthelongrun.
Shoeleathercosts:
theeffortmadetodecreasetheeffectofinflation.Likewithdrawingmoneytopurchaserealgood.
Menucosts:
causeofpricestickiness.ThereiscosttochangepricesocompanywillnotchangepriceimmediatelyuntilMB>
MC
contract:
causeofwagestickiness,usuallyforayear
Rationalexpectation:
peopleexpectinflationandactaccordingly.Theaverageerrorofexpectationiszero.
GDPdeflator:
onewaytocalculateinflation:
dividenominalGDPbyrealGDPandmultiplyby100.
CPI:
takesafixedbasketofgoodandcalculatetheirprice
CPIvs.GDPdeflator:
CPIonlylooksatconsumergoods.AlsopeopletendtobuylessofonethingifpriceincreasessoCPIisnotaccurate.Acommonproblemforbothwaysisthattheydonottakeintoaccountthequality.Agoodwithbetterqualitynowisstillcountedthesameasbefore.
Deflation:
inflationisnegative.Itisveryharmfulasinterestratecannotbelowerthanzero.
Unemployment失业
peopleemployed/totallaborforce=unemploymentrate
thosenotlookingforajob,tooyoungandprisonerorpatientarenotcountedinlaborforce
Discouragedworker:
peoplewhogiveuplookingforajob.Morediscouragedworkerscanincreaseemploymentrate.
Typesofunemployment:
seasonal,structural,frictionalandcyclical.Seasonal,structuralandfrictionalareunavoidablesonocyclicalunemploymentmeansfullemployment,ornaturalrateofunemployment.
effectofunemployment:
loweroutput(Okun’slaw:
foreverypercentofunemploymenthigherthannaturalrate,GDPis2percentlowerthanpotential),stress,workerslosesskill,sendabadsignaltoemployer
Biasaboutunemployment:
theleisurepeopleexperiencewhennothavingajobdecreasethenegativeeffectofunemployment.However,thelifeisstressfulandpeoplemayspendsomeofthetimelookingforajobandthesefactorsmakethingsworse.
Aggregatedemandegatedemand
AD:
totalexpenditureinacountry
ADisdownwardslopingbecause:
(a)wealtheffect:
thehigherthepricelevel,thelessyoucanbuywithafixedamountofmoney
(b)interestrateeffect:
higherpricelevel—carrymoremoney—lesssavings—higherinterestrate—lowerinvestment
(c)Exchangerateeffect:
higherpricelevel—carrymoremoney—lesssavings—higherinterestrate—appreciatecurrency—moreimportandlessexport
ShiftsofAD:
changesinexpectations,animalspirit(confidence),changeinmoneysupply,fiscalpolicy
Aggregatesupply
Aggregatesupply:
totalsupply.ThelongrunAScurveisvertical,onlyaffectedbychangeinresourcesandtechnology.ShortrunASisupwardsloping.
ASisupwardslopingbecause:
(a)stickyprice:
lowerpricelevelandsamenomialprice—morerealprice—lessdemand--lesssupply
(b)Stickywages:
lowerpricelevelandsamewage—morerealwage—highercost—produceless(stickywagesmaycausedbymoneyillusion,laborcontracts,laborregulationandunionpower)
ShiftsofAS:
realfactorsofproductionwillcausebothLRASandSRAStoshift.ExpectationsandchangeinpriceorwageswillcauseSRAStoshift.
Demandpullinflation:
increaseinAD(maycausedbyincreaseinmoneysupplyorfiscalstimulus)—decreaseinAS—equilibriumandhigherpricelevel
Costpushinflation:
decreaseinAS—increaseinAD—equilibriumandhigherpricelevel
Inflationgap:
ADincreasesandthegapbetweentheSRandLRlevelofoutputisinflationgap.
Recessionarygap:
ADdecreasesandthegapbetweenSRandLRlevelofoutputisrecessionary/outputgap
Supplysideeconomics
SupplysideeconomicstendtosolveprobleminmacroeconomicsbychangingAS.Theywouldagreeacutoftaxifitcanincreasepeople’sincentivetowork.Sotheydonotagreeafundbackoflastyear’stax.
Laffercurve:
whentaxrateishigherthananumber,taxrevenuemaydecreasewhengovernmentincreasestaxratebecausethedecreaseinefficiencyissogreat.
Whatismoney
usesofmoney:
mediumofexchange,unitofaccountandstoreofvalue
propertiesofmoney:
portable(easytocarryaround),fungible(canbedivided),durable,rareandnotvaluable(orpeoplewilldebasemoneybymovingsmallpartofit)
definitionofmoney:
M0:
onlycurrency
M1:
M0+checkingdeposit
M2:
M1+closemoneysubstitutes
Quantitytheoryofmoney
MV=PY
ex:
whenfedprintsmoneybutdoesnotusethem,v=0sothereisnorealeffectintheeconomy
Savingsandinvestment:
aneconomycanonlysavebybuildingconstructionsthatmightbeusedinthefuture
inaclosedeconomy:
C+I+G=GDP=C+G+savings(totalspending+thatarenotspent)
Monetarypolicy
monetarypolicyisthepolicytakenbyfederalreservetocontroleconomy
openmarketoperation:
buyorselltreasurybondtoincreaseordecreasetotalmoneysupplyintheeconomy
discountrate:
rateofinterestratebanksborrowmoneyfromtheFed
federalfundsrate:
theinterestratethattheFedtargetedwithopenmarketoperation
Reserverequirement:
therequiredamountofmoneyabankneedtohold,usuallynotusedasatoolas:
1.ifFedraisesRRduringexpansion,bankmayhaveadifficulttimetogetenoughRR2.ifFeddecreasesRRduringrecession,ithasnoeffectasthebankcannotloanouttheextraamountofmoney
Fiscalpolicy
Fiscalpolicyistheactionofgovernmenttocontroltheeconomy,usuallyincludegovernmentspendingandchangeoftaxrate
Expansionaryfiscalpolicymaycauseanincreaseininterestrateasgovernmentmustborrowbeforespend.Thiswillcrowdoutprivateinvestment.
Fiscalandmonetarypolicy
Fiscalandmonetarypolicymayhelporcancelouteachother.Thereisachartinthehandout
AfterFedmultiplier:
istheoveralleffectoffiscalandmonetarypolicy.IfADincreases,itispositive;
ifADdecreases,itisnegative;
ifADdoesnotchange,itiszero.
Interestratedetermination
shortrun:
ifFedtakesexpansionarypolicy—MSincreases—savingshiftstotheright—lowerinterestrate
longrun:
ifFedtakesexpansionarypolicy—MDincreases—savingshiftsback—interestratebacktoformerone
Allformulasforcalculation
1.fiscalpolicy:
(a)spendingmultiplier=1/MPS=1/(1-MPC)
(b)Taxmultiplier=MPC/MPS
(c)Balancemultiplier=spendingmultiplier+taxmultiplier=1
2.OMO:
(a)changeinmoneysupply:
1/RR*BP(bond)
(b)Newloans:
1/RR*BP-BP
(c)Reserves:
BP
3.Newdeposit:
1/RR*DD(depositmoney)-DD
(b)Demanddeposit:
1/RR*DD
(c)Loans:
1/RR*DD-DD
(d)Reserves:
DD
Internationaltrade
Currentaccount:
accountofphysicalgood.Exportcountsaspositiveandimportcountsasnegative.
Capitalaccount:
accountofliability.Whenothercountriesinvestinyourcountryitispositive.
capitalaccount+currentaccount=0
Exchangerate:
priceofothercurrency.Whenittakesmoreforeigncurrencytobutthesameamountofyourcurrency,yourcurrencyisappreciate.Othe
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