高级宏观经济学》201009.pptVIP

School of Economics Management South China Normal University Advanced Macroeconomics 《高级宏观经济学》 吴超林 wuchlsem@yahoo.cn September, 2010 ? What is the object of study? ? Methodology in macroeconomics ? Microeconomic Foundation of Macroeconomics ? The Past, Present, and Future of Macroeconomics Introduction to Macroeconomics : Approach and Brief Review of the Historical Record PART ONE ? Macroeconomics is the study of the economy as a whole, it is about two things: ? developing positive models that can help us understand the dynamics of key macroeconomic variables; ? using these models to make judgment about what policies the government should, or should not pursue. ? WHAT IS THE OBJECT OF STUDY? ● Long-Term : Economic Growth ? FOCUS / CORE ● Short-Term : Economic Fluctuation Product Market Labor Market Multi-equilibrium Fluctuation Growth Inflation Deflation Employment Balance to Payments Money Market Macroeconomic Policy AD-AS Capital Market Economic Growth Macroeconomic Analysis Models （Main Topics ） Economic Cycle ? MAIN TOPIC CONCEPTION ● Output and Employment Fluctuation, Why? ● Output and Employment Determined by What? Demand or Supply? ● Output and Employment Fluctuation Caused by What? ● Monetary Shock or Real Shock. ● Relationship Among Price and Output and Employment. ◆ Long-Term Short-Term ◆ Sticky Price Flexible Price ◆ Market-Clearing Non Market-Clearing ◆ Nominal Variables Real Variables ◆ Neutrality of Money Non-neutrality of Money ◆ Adaptive Expectations Rational Expectations ◆ Static Dynamic  ● Is there any more? ● Market-Clearing Approach: General Equilibrium  ● Non Market-Clearing Approach: Disequilibrium  L. Walras Neoclassical Theory New Classical Macroeconomics Keynesian Theory New Keynesian Theory Logical deduct Experience Hypothesis ------ Models------ em