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					Macroeconomics
Focus (ie test center): (specify what the book was published by Higher Education
Press, "Macroeconomics" Huang Yajun editor)
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PART ONE long-term macroeconomic model
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Lecture: 1 nominal GDP and real GDP calculation
     2 Keynesian theory and the main differences between the classical school
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Second Lecture 1 in a closed condition, analysis of long-term product market and
financial market equilibrium condition
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About one third of capital accumulation and steady state (Figure 3-4)
     2 steady state savings rate changes affect
     3 What is the Golden Rule level of capital accumulation? The overall level of
consumption to maximize long-term conditions?
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The Fourth Lecture of unemployment and inflation (Chapter 4,5)
     1 P141 Question 6
     2 of the quantity theory mean? What is the classical dichotomy?
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Fifth Lecture 1 P162 Question 5
     2 small open economy long-term savings and investment (Figure 6-1)
     3 small open economy, long-term fiscal expansion (expansionary fiscal policy)
(Figure 6-2 or Figure 6-6)
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PART TWO short-term macroeconomic model
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Lecture 1, the total short-term macroeconomic equilibrium (Figure 7-8)
     2 aggregate supply shocks and stagflation of the formation 【Figure 7-11 (a)】
     3 short-term macroeconomic equilibrium and the distinction between long-run
equilibrium, the circumstances under which short-term aggregate supply and
aggregate supply are equal?
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SEVEN 1 P214 Problem 6 (1) (2)
     2 Cairns crossed (Figure 8-2)
     3 IS-LM model of macroeconomic equilibrium (Figure 8-16)
     4 IS-LM model fiscal policy (Figure 8-17)
     5 IS-LM model, monetary policy (Figure 8-19)
     6 briefly Keynesian theory of money demand
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About short-term Phillips curve VIII shows the substitution between inflation and
unemployment relationship. High inflation, low unemployment rate of price inflation
to the low cost of high unemployment. The long run, expected inflation and actual
inflation rate will be the same, the unemployment rate remained at the natural rate of
unemployment, Phillips curve and long-term aggregate supply curve also is the same
as a vertical curve.
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About one ninth of the floating exchange rate system under the fiscal policy, monetary
policy and trade policy
      2 analysis under a fixed exchange rate system, fiscal policy, monetary policy and
trade policy
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His summing up of small points:
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A macro-economic study to learn what? It Microeconomics What is the difference?
Macroeconomics study include following aspects:
(1) economic growth
(2) the economic cycle
(3) Unemployment
(4) inflation
(5) open economy
(6) macro-economic policies
Macroeconomics of the main economic activity of the whole national economy, the
contents of the entire community involved in the price level, output, employment
levels and other economic output of the decision; Er Researches on Microeconomics
main Ze is the single economic Zhu Ti ( such as individual consumers, firms) in
economic activity, involving the contents of a single market equilibrium price and
output decisions. Image that the study of macroeconomics is the forest,
micro-economics is the tree, which is the difference.
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2 Research Methods of Macroeconomics:
(1) the division of three markets: Financial markets, products and services markets,
factor markets
(2) the division of actors: families, businesses, government
(3) the total amount of analysis: the homes and businesses sum of individual choice
behavior, study their choice of behavior in general, this is the total amount of
(4) based on microscopic analysis of
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3, cyclical fluctuations in the economy in which macro variables and Cycle
Synchronization? Those variables in advance?
(1) unemployment rate
(2) stock price (ahead of)
(3) inflation rate
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4 target of macroeconomic policy What are the main governance?
In a certain period, a relatively closed economy, macroeconomic policy management
mainly two: unemployment and inflation. Real variables of unemployment and
inflation to nominal variables.
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5 Please comment on the classical school of Keynesian theory also major differences.
In the following two aspects:
(1) the effectiveness of market mechanisms. The market mechanism is the core of the
effectiveness of price, availability of adequate wage flexibility. Keynesian theory,
prices, wages a lack of flexibility, the market can not be clearing, market regulation
mechanism is not effective; and classical scholars argue that prices, wages have the
flexibility, the market can be clearing, market regulation mechanism is effective.
(2) the need for government intervention. What kind of theory of what there policy in
favor of the Keynesian view that the market can not self-clearing, the Government
must assume the task of clearing the market, government intervention is necessary;
the classical school of thought that the market can self-clearing Government does not
need intervention in the economy.
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6 real GDP = nominal GDP / price level * 100
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7 What is the golden rule of capital accumulation? Maximize the overall long-term
consumption of conditions?
Total consumption level of the highest long-term steady-state capital stock is called
the Golden Rule level of capital accumulation, also known as the golden rule of
capital accumulation. When the steady state per capita production function curve
slope and the slope of the same depreciation rate, steady-state level of consumption is
reached and thus the entire economy in the Golden Rule steady state, therefore, the
overall level of consumption to maximize long-term conditions:
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MPk = δ
That the Golden Rule level of capital, the marginal productivity of capital is equal to
the depreciation rate.
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The big question may arise:
P141 6.7.8 Types of question P162 5 questions
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Test centers: the real interest rate = nominal interest rate - inflation rate
    Inflation rate = money stock growth - economic growth + velocity
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P236 inflation (Compulsory!!!)
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P176 macroeconomic balance of the two lines of three (the length of the total
demand)
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P214 6 title (1) (2) test centers: IS curve: YCG = I LM curve: (M / P) d = Y-100r
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In the floating Mundell - Fleming model, the tax rise and the money supply would
reduce national income, respectively, how can the impact of exchange rate and trade
balance? If a fixed exchange rate system, what will happen?
【A】
(1) small countries: a floating exchange rate system, the assumption that tax increase,
equivalent to tightening of fiscal policy, resulting in the exchange rate decline, no
change in national income, trade balance increased. Reduce the money supply is also
equivalent to tightening of monetary policy, leading to exchange rate, national income
fell, trade balance has been reduced.
        ?Fixed exchange rate system, the assumption that tax increase, equivalent to the
implementation of a contractionary fiscal policy, it touches on the exchange rate
unchanged, reducing the national income, trade balance unchanged. Reduce the
money supply is also equivalent to the implementation of a tightening of monetary
policy, but the adjustment has no effect on the economy.
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(2) power: a floating exchange rate system, the assumption that tax increase,
equivalent to tightening of fiscal policy, resulting in the exchange rate decline, no
change in national income, trade balance increased. Reduce the money supply is also
equivalent to tightening of monetary policy, leading to reduced national income,
exchange rate, trade balance decreased.
         Fixed exchange rate system: the assumption that tax increase, equivalent to the
implementation of a contractionary fiscal policy, it touches on the exchange rate
unchanged, reducing the national income, trade balance unchanged. Reduce the
money supply is also equivalent to the implementation of a tightening of monetary
policy, but the same effect of monetary policy, monetary policy is ineffective.
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?Drawing title:
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1 P73 capital accumulation and steady state (Figure 3-4)
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2 P149 Figure 6-1 small open economy long-term savings and investment
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3 P150 Figure 6-6 Figure 6-2 P156 small open economy in the long-term fiscal
expansion (expansionary fiscal policy)
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4 P176 Figure 7-8 aggregate short-term macroeconomic equilibrium
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5 P181 Figure 7-11a aggregate supply shocks and stagflation of the formation.
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Figure 8-2 6 P186 crossed Cairns Map
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7 P201 Figure 8-16 IS-LM model of macroeconomic equilibrium
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8 P204 Figure 8-17 IS-LM model fiscal policy
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9 P207 Figure 8-19 IS-LM model, monetary policy
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