南开大学中级宏观经济学课件,Macro1

Rational
• All individuals behave optimally.

Adam Smith’s “invisible hand” dogma.
Economic Environment

Though individuals are selfish and rational, their choices are constrained by the economic environment they are staying.

Neoclassical and Keynesian, A Historical Review (continued)

Keynesian economics ( generated from great deflation)
uncertainty Imperfect competition Sluggish price adjustment Disequilibrium and non-market clearing Traditionally focused on macroeconomic analysis
Individual Behavior (continued)

Basic Hypothesis on Individual Behavior

Selfish
• All individuals when engaging in their economic activities, pursue their own and only their own interest.

Neoclassical and Keynesian, A Historical Review

Neoclassical economics:
Agent’s optimization Rational Expectation Market Clearing in Competitive Economy Traditionally, focused on microeconomic analysis

Neoclassical and Keynesian, A Historical Review (continued)

Economics After 1980’s

New classห้องสมุดไป่ตู้cals
• Constructing the macroeconomics on the basis of neoclassical microeconomics

几点说明：



上述三步曲应该说是经济学分析的标准范式，任何合 理的经济学分析都应该遵循这样一种范式。 当然，合理的经济学分析并不意味着合格。 按所研究的内容、读者对象和严谨性要求的不同，具 体的研究过程有可能极为复杂。 例如，为了完成这三步曲，经济学家们可能会建立数 学模型，借用一定的数学工具来进行分析，与此同时， 为了使研究所得的结果更具有说服力，人们还会利用 数据进行检验。
The Available Economic Resource

What is the economic resource？
Natural resource （自然地理和地产）； The resource created by economic activities（e.g. fixed assets); The resource which is untouchable (e.g. human capital, knowledge capital); Resources can be created but also can be destructed.

Neoclassical and Keynesian, A Historical Review (continued)

The breakdown of neoclassical synthesis
The emergence of stagflation; The ineffectiveness of Keynesian demand management policy in dealing with stagflation; The lack of micro-foundation; Insufficiency in explaining economic growth.

New Keynesian
• Constructing the microfoundation of Keynesian macroeconomics
Course Objectives

Basic Keynesian model of macroeconomics, under which we shall understand

Economic System (continued)

How economic system can impact the individual behavior?

Objective (mainly the firm?) to pursue (profit, market share, political interest….)
How are the macroeconomic variables determined? How can we explain unemployment and inflation? How can macroeconomic policy be used to resolve unemployment and inflation?
What is Macroeconomics? (continued)

After we have understood what is economics, the difference between micro- and macro-economics (in terms of positive definition) becomes clear:
Economic System

Economic system can briefly be distinguished in terms of
the mechanism of resource allocation (planning mechanism and market mechanism). the system of enterprises (largely depends on ownership);
Economic System (continued)

Question：
Is there an issue regarding suitability between these two respects of economic system? If yes, what kind of enterprise system may not be suitable to the market economy? Can you image other elements with regard to economic environment?

Neoclassical and Keynesian, A Historical Review (continued)

Neoclassical synthesis
Dominating before 1980’s The synthesis of neoclassical microeconomics and Keynesian macroeconomics

The Available Economic Resource (continued)

经济资源与南北差别

从个人角度讲，贫富差别最重要原因是个人所拥有的 资源的差别。 从国家角度讲，人均所拥有的资源决定了该国的经济 发展水平。
• 发展中国家与发达国家 • 中国地大物博吗？


当人们拥有更多资源时，其经济活动的行为选择空间 就会更大，从而其经济活动的效益及生活品质就会更 好。 经济的发展过程实际上可以看成是经济资源不断累积 的过程。
Economic Environment

Economic Environment may at least be distinguished in terms of direction:


The available resource（经济资源）: less developed economy versus developed economy. The economic system（经济体制）: market economy versus planning economy;
经济学分析框架之三部曲

经济学分析框架的三部曲 上述关于现代经济学研究方法和分析 框架的讨论基本上可以概括为一个三步曲：
界定经济环境； 确定经济人行为目标：反映自私和理性； 分析经济运行：得出众多经济人各种经济行为 的综合表现。

经济学分析框架之三部曲 (继续)
经济学分析框架之三部曲 (继续)
Macroeconomics
Xiaowei Chen
Room 207, Department of Risk Management and Insurance, Nakai University, Tianjin 300071, China Email：chenx@nankai.edu.cn
课程介绍
Individual Behavior

Economic variables are determined by the choice of individuals (firms, households and government), and therefore studying individual behavior is the starting point of economic analysis.


Microeconomics is the study of how microeconomic variables (such the price and output of individual product) are determined; Macroeconomics is the study of how macroeconomic variables (such as GDP, employment, inflation among others) are determined.
Positive Definition:
• Economics is the science that studies how an economy operates or how economic variables are determined under the given economic environment (what happen?).

What is Economics？

Normative Definition:
• Economics is the science that studies how to efficiently allocate economic resources (what should we do?).


Course Objectives (continued)

The macroeconomics beyond the basic Keynesian model
出勤+作业 30% 期末考试 70% 上课时间：1-17周 联系方式：chenx@nankai.edu.cn 答疑地点：经院高层207房间 答疑时间：待定

Macroeconomics
Lecture 1
Macroeconomics as a Science
What is Macroeconomics?