宏观经济管理学与财务知识分析规范.ppt

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1、1Chapter5AggregateSupplyandDemandItemItemItemEtc.McGraw-Hill/IrwinMacroeconomics,10e©2008TheMcGraw-HillCompanies,Inc.,AllRightsReserved.2IntroductionThelastfewchaptershavedetailedmodelsoflongruneconomicgrowthnowturntoshortrunfluctuationsintheeconomythatcons

2、titutethebusinesscycleTheAS/ADmodelisthebasicmacroeconomictoolforstudyingoutputfluctuationsandthedeterminationofthepricelevelandtheinflationrateCanbeusedtoexplainhowtheeconomydeviatesfromapathofsmoothgrowthovertime,andtoexploretheconsequencesofgovernmentpoli

3、ciesintendedtoreduceunemploymentandoutputfluctuations,andmaintainstableprices3ASandADAggregatesupplycurvedescribes,foreachgivenpricelevel,thequantityofoutputfirmsarewillingtosupplyUpwardslopingsincefirmsarewillingtosupplymoreoutputathigherpricesAggregatedema

4、ndcurveshowsthecombinationsofthepricelevelandthelevelofoutputatwhichthegoodsandmoneymarketsaresimultaneouslyinequilibriumDownwardslopingsincehigherpricesreducethevalueofthemoneysupply,whichreducesthedemandforoutputIntersectionofASandADcurvesdeterminestheequi

5、libriumlevelofoutputandpricelevel4AS,AD,andEquilibriumASandADintersectatpointEinFigure5-1Equilibrium:AS=ADEquilibriumoutputisY0ObservedlevelofoutputintheeconomyatparticularpointintimeEquilibriumpricelevelisP0Observedpricelevelintheeconomyatparticularpointin

6、time[InsertFigure5-1here]5AS,AD,andEquilibriumShiftsineithertheASorADscheduleresultsinachangeintheequilibriumlevelofpricesandoutputIncreaseinADincreaseinPandYDecreaseinADdecreaseinPandYIncreaseinASdecreaseinPandincreaseinYDecreaseinASincreaseinPanddecrea

7、seinY[InsertFigure5-2here]Figure5-2illustratesanincreaseinADresultingfromanincreaseinmoneysupply.6AS,AD,andEquilibriumTheamountoftheincrease/decreaseinPandYafterashiftineitheraggregatesupplyoraggregatedemanddependson:TheslopeoftheAScurveTheslopeoftheADcurve

8、TheextentoftheshiftofAS/AD[InsertFigure5-3here]Figure5-3showstheresultofanadverseASshock:ASY,P7ClassicalSupplyCurveTheclassicalsupplycurveisvertical,indicatingthatthesameamountofgoodswillbes