宏观经济学原理教辅 (8).pdf

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1、8(20)AggregateExpenditureandEquilibriumOutputOUTLINEOFTEXTMATERIALI.IntroductionA.Thischapterstartspresentingmacroeconomictheory.1.WhatfactorsdetermineGDP?2.Whatcausesinflationandunemployment?B.Macroeconomicsdividestheeconomyintothreesectors:1.Newly-producedgoodsandservic

2、es(GDP)markets2.Assetsmarkets(financialandreal)3.LabormarketsTEACHINGTIP:IntroductorystudentsoftenhaveadifficulttimemasteringthebasicKeynesianmodel.Youcaneasetheirtaskconsiderablybyusingthesamesymbolsandabbreviationsasthetext.Itissurprisinghowdisturbedstudentsbecomeeve

3、nifasuperscriptischangedtoasubscript!II.AggregateOutputandAggregateIncome(Y)A.Whenaggregateoutputincreases,additionalincomeisgeneratedandviceversa.1.Aggregateoutputisthetotalquantityofgoodsandservicesproduced(orsupplied)inaneconomyinagivenperiod.2.Aggregateincomeisthetot

4、alincomereceivedbyallfactorsofproductioninagivenperiod.3.Aggregateoutput(income)(Y)isacombinedtermusedtoremindstudentsoftheexactequalitybetweenaggregateoutputandaggregateincome.6364PrinciplesofMacroeconomicsB.Income,Consumption,andSaving(Y,C,andS)1.Disposablepersonalincom

5、eisconsumedandsaved.Savingisthepartofitsincomethatahouseholddoesnotconsumeinagivenperiod.2.Sinceweareassumingnogovernmentandnotaxes,disposablepersonalincomeandpersonalincomearethesame.TEACHINGTIP:Explainthemeaningoftheidentitysymbol()asthisisthefirsttimemoststudentswil

6、lhaveseenitused.Theauthorsmakeacarefuldistinctionbetweensaving(thepartofincomenotspent,aflowvariable)andsavings(wealth,astockvariable).Ratherthanforcingyourstudentstolistenforthattrailings,justcallsavingswealthinstead.C.ExplainingSpendingBehaviorTEACHINGTIP:Thetextuse

7、slowercaselettersforthehouseholdconsumptionfunctionanduppercaselettersfortheaggregateconsumptionfunction.1.HouseholdConsumptionandSavingdependon:a.Householdincome:higherincomeleadstohigherspendingandsaving.b.Householdwealth:higherwealthleadstohigherspendingandsaving.c.In

8、terestratesreflectthecostofborrowing,solowerratesincreasespendingbutmayreducesaving(thereareinco