曼昆宏观经济学课件第一章
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CHAPTER 1
The Science of Macroeconomics
16
The effects of an increase in income
demand equation:
Q d = D (P,Y )
An increase in income increases the quantity of cars consumers demand at each price… …which increases the equilibrium price and quantity.
2008
7.2%
3.8%
Obama (D)
Economic models
…are simplified versions of a more complex reality irrelevant details are stripped away …are used to show relationships between variables explain the economy’s behavior devise policies to improve economic performance
Q2 Q1
Quantity of cars
Q
CHAPTER 1
The Science of Macroeconomics
18
Endogenous vs. exogenous variables
The values of endogenous variables
are determined in the model.
“government stimulus” and why might it help?
How can problems in the housing market spread
to the rest of the economy?
What is the government budget deficit?
How does it affect workers, consumers, businesses, and taxpayers?
CHAPTER 1
The Science of Macroeconomics
2
Important issues in macroeconomics
Macroeconomics, the study of the economy as a whole, addresses many topical issues:
3. The macroeconomy affects election outcomes.
Unemployment & inflation in election years year
1976
1980 1984 1988 1992 1996 2000 2004
U rate
7.7%
7.1% 7.5% 5.5% 7.5% 5.4% 4.0% 5.5%
D
Quantity of cars
Q
CHAPTER 1
The Science of Macroeconomics
14
The market for cars: Supply
supply equation:
P
Qs
= S (P,PS )
Price of cars
S
The supply curve shows the relationship between quantity supplied and price, other things equal.
D
Quantity of cars
Q
CHAPTER 1
The Science of Macroeconomics
15
The market for cars: Equilibrium
P
Price of cars
S
equilibrium price
D
Quantity of cars
Q
equilibrium quantity
CHAPTER 1
The Science of Macroeconomics
11
The demand for cars
demand equation: Q d = D (P,Y )
shows that the quantity of cars consumers
demand is related to the price of cars and aggregate income
In this chapter, you will learn:
about the issues macroeconomists study the tools macroeconomists use
some important concepts in macroeconomic
analysis
CHAPTER 1
The Science of Macroeconomics
10
Example of a model:
Supply & demand for new cars shows how various events affect price and
quantity of cars
assumes the market is competitive: each buyer
CHAPTER 1
Price of cars
P
S
P2 P1 D1 Q1 Q2 D2
Quantity of cars
Q
The Science of Macroeconomics
17
The effects of a steel price increase
supply equation:
Q s = S (P,PS )
Great Depression World War II
Second oil price shock
U.S. Inflation Rate
(% per year)
U.S. Unemployment Rate
(% of labor force)
Why learn macroeconomics?
An increase in Ps reduces the quantity of cars producers supply at each price…
Price of cars
P
S2 S1
P2 P1
D
…which increases the market price and reduces the quantity.
Important issues in macroeconomics
Macroeconomics, the study of the economy as a whole, addresses many topical issues:
What causes recessions? What is
The values of exogenous variables
are determined outside the model: the model takes their values & behavior as given.
In the model of supply & demand for cars,
CHAPTER 1
The Science of Macroeconomics
12
Digression: functional notation
General functional notation
shows only that the variables are related.
Q d = D (P,Y )
3
unemployment rate
percent change from 12 mos earlier
In most years, wageຫໍສະໝຸດ Baidugrowth falls when unemployment is rising.
5
change from 12 mos earlier
Why learn macroeconomics?
Unemployment (left scale)
Why learn macroeconomics?
2. The macroeconomy affects your well-being.（福
利）
5 4 3 2 1 0 -1 -2 -3 1965 -5 -7 1970 1975 1980 1985 1990 1995 2000 2005 inflation-adjusted mean wage (right scale) 1 -1 -3
1. The macroeconomy affects society’s well-being.
U.S. Unemployment and Property Crime Rates
crimes per 100,000 population
percent of labor force
Social problems like homelessness, domestic violence, crime, and Property crimes (right scale) poverty are linked to the economy. For example…
country’s well-being?
CHAPTER 1
The Science of Macroeconomics
3
U.S. Real GDP per capita
(2000 dollars)
9/11/2001
First oil price shock long-run upward trend…
endogenous: P, Qd, Qs
exogenous:
A specific functional form shows
the precise quantitative relationship. A list of the
Example: variables
d that affect D (P,Y ) = 60 Q – 10P + 2Y
CHAPTER 1
and seller is too small to affect the market price
Variables:
Qd = quantity of cars that buyers demand Qs = quantity that producers supply P = price of new cars Y = aggregate income Ps = price of steel (an input)
MACROECONOMICS
N. Gregory Mankiw
PowerPoint® Slides by Ron Cronovich
CHAPTER
1
The Science of Macroeconomics
© 2010 Worth Publishers, all rights reserved
SEVENTH EDITION
Why does the cost of living keep rising?
Why are so many countries poor? What policies
might help them grow out of poverty?
What is the trade deficit? How does it affect the
The Science of Macroeconomics
13
The market for cars: Demand
demand equation:
P
Qd
= D (P,Y )
Price of cars
The demand curve shows the relationship between quantity demanded and price, other things equal.
inflation rate
5.8%
13.5% 4.3% 4.1% 3.0% 3.3% 3.4% 3.3%
elec. outcome
Carter (D)
Reagan (R) Reagan (R) Bush I (R) Clinton (D) Clinton (D) Bush II (R) Bush II (R)
The Science of Macroeconomics
16
The effects of an increase in income
demand equation:
Q d = D (P,Y )
An increase in income increases the quantity of cars consumers demand at each price… …which increases the equilibrium price and quantity.
2008
7.2%
3.8%
Obama (D)
Economic models
…are simplified versions of a more complex reality irrelevant details are stripped away …are used to show relationships between variables explain the economy’s behavior devise policies to improve economic performance
Q2 Q1
Quantity of cars
Q
CHAPTER 1
The Science of Macroeconomics
18
Endogenous vs. exogenous variables
The values of endogenous variables
are determined in the model.
“government stimulus” and why might it help?
How can problems in the housing market spread
to the rest of the economy?
What is the government budget deficit?
How does it affect workers, consumers, businesses, and taxpayers?
CHAPTER 1
The Science of Macroeconomics
2
Important issues in macroeconomics
Macroeconomics, the study of the economy as a whole, addresses many topical issues:
3. The macroeconomy affects election outcomes.
Unemployment & inflation in election years year
1976
1980 1984 1988 1992 1996 2000 2004
U rate
7.7%
7.1% 7.5% 5.5% 7.5% 5.4% 4.0% 5.5%
D
Quantity of cars
Q
CHAPTER 1
The Science of Macroeconomics
14
The market for cars: Supply
supply equation:
P
Qs
= S (P,PS )
Price of cars
S
The supply curve shows the relationship between quantity supplied and price, other things equal.
D
Quantity of cars
Q
CHAPTER 1
The Science of Macroeconomics
15
The market for cars: Equilibrium
P
Price of cars
S
equilibrium price
D
Quantity of cars
Q
equilibrium quantity
CHAPTER 1
The Science of Macroeconomics
11
The demand for cars
demand equation: Q d = D (P,Y )
shows that the quantity of cars consumers
demand is related to the price of cars and aggregate income
In this chapter, you will learn:
about the issues macroeconomists study the tools macroeconomists use
some important concepts in macroeconomic
analysis
CHAPTER 1
The Science of Macroeconomics
10
Example of a model:
Supply & demand for new cars shows how various events affect price and
quantity of cars
assumes the market is competitive: each buyer
CHAPTER 1
Price of cars
P
S
P2 P1 D1 Q1 Q2 D2
Quantity of cars
Q
The Science of Macroeconomics
17
The effects of a steel price increase
supply equation:
Q s = S (P,PS )
Great Depression World War II
Second oil price shock
U.S. Inflation Rate
(% per year)
U.S. Unemployment Rate
(% of labor force)
Why learn macroeconomics?
An increase in Ps reduces the quantity of cars producers supply at each price…
Price of cars
P
S2 S1
P2 P1
D
…which increases the market price and reduces the quantity.
Important issues in macroeconomics
Macroeconomics, the study of the economy as a whole, addresses many topical issues:
What causes recessions? What is
The values of exogenous variables
are determined outside the model: the model takes their values & behavior as given.
In the model of supply & demand for cars,
CHAPTER 1
The Science of Macroeconomics
12
Digression: functional notation
General functional notation
shows only that the variables are related.
Q d = D (P,Y )
3
unemployment rate
percent change from 12 mos earlier
In most years, wageຫໍສະໝຸດ Baidugrowth falls when unemployment is rising.
5
change from 12 mos earlier
Why learn macroeconomics?
Unemployment (left scale)
Why learn macroeconomics?
2. The macroeconomy affects your well-being.（福
利）
5 4 3 2 1 0 -1 -2 -3 1965 -5 -7 1970 1975 1980 1985 1990 1995 2000 2005 inflation-adjusted mean wage (right scale) 1 -1 -3
1. The macroeconomy affects society’s well-being.
U.S. Unemployment and Property Crime Rates
crimes per 100,000 population
percent of labor force
Social problems like homelessness, domestic violence, crime, and Property crimes (right scale) poverty are linked to the economy. For example…
country’s well-being?
CHAPTER 1
The Science of Macroeconomics
3
U.S. Real GDP per capita
(2000 dollars)
9/11/2001
First oil price shock long-run upward trend…
endogenous: P, Qd, Qs
exogenous:
A specific functional form shows
the precise quantitative relationship. A list of the
Example: variables
d that affect D (P,Y ) = 60 Q – 10P + 2Y
CHAPTER 1
and seller is too small to affect the market price
Variables:
Qd = quantity of cars that buyers demand Qs = quantity that producers supply P = price of new cars Y = aggregate income Ps = price of steel (an input)
MACROECONOMICS
N. Gregory Mankiw
PowerPoint® Slides by Ron Cronovich
CHAPTER
1
The Science of Macroeconomics
© 2010 Worth Publishers, all rights reserved
SEVENTH EDITION
Why does the cost of living keep rising?
Why are so many countries poor? What policies
might help them grow out of poverty?
What is the trade deficit? How does it affect the
The Science of Macroeconomics
13
The market for cars: Demand
demand equation:
P
Qd
= D (P,Y )
Price of cars
The demand curve shows the relationship between quantity demanded and price, other things equal.
inflation rate
5.8%
13.5% 4.3% 4.1% 3.0% 3.3% 3.4% 3.3%
elec. outcome
Carter (D)
Reagan (R) Reagan (R) Bush I (R) Clinton (D) Clinton (D) Bush II (R) Bush II (R)