Оцените презентацию от 1 до 5 баллов!
Тип файла:
ppt / pptx (powerpoint)
Всего слайдов:
14 слайдов
Для класса:
1,2,3,4,5,6,7,8,9,10,11
Размер файла:
64.50 kB
Просмотров:
103
Скачиваний:
1
Автор:
неизвестен
Слайды и текст к этой презентации:
№1 слайд![Intermediate Macroeconomics](/documents_6/2d1b1a72ff5401f61b7f16718618bb5e/img0.jpg)
Содержание слайда: Intermediate Macroeconomics
Chapter 4
Introduction to the Equilibrium Model
№2 слайд![Introduction to the](/documents_6/2d1b1a72ff5401f61b7f16718618bb5e/img1.jpg)
Содержание слайда: Introduction to the Equilibrium Model
The Parsimonious Model
What is an Equilibrium Model?
Equilibrium Model Solution Method
Simple Equilibrium Model in Action
№3 слайд![The Parsimonious Model Make](/documents_6/2d1b1a72ff5401f61b7f16718618bb5e/img2.jpg)
Содержание слайда: The Parsimonious Model
Make simplifying assumptions
Parsimonious – stingy, miserly
Occam’s Razor - eliminate complicating details that don’t significantly contribute to the model
Don’t include unimportant variables
Ceteris Paribus (other things being equal) - Hold constant variables that are not the focus of your interest
№4 слайд![The Parsimonious Model](/documents_6/2d1b1a72ff5401f61b7f16718618bb5e/img3.jpg)
Содержание слайда: The Parsimonious Model
Simplifying assumptions for our models
Aggregate output ≡ National income
National income ≡ Personal income
№5 слайд![What is an Equilibrium Model?](/documents_6/2d1b1a72ff5401f61b7f16718618bb5e/img4.jpg)
Содержание слайда: What is an Equilibrium Model?
Assumed equilibrium condition
GDP Accounting (Chapter 2):
National Income ≈ Aggregate Supply
Macroeconomic Models:
Aggregate Supply (AS) = Aggregate Demand (AD)
or
National Income (Y) = Aggregate Demand (AD)
№6 слайд![What is an Equilibrium Model?](/documents_6/2d1b1a72ff5401f61b7f16718618bb5e/img5.jpg)
Содержание слайда: What is an Equilibrium Model?
Disequilibrium
Disequilibrium: aggregate output (or national income) is not equal to aggregate demand
Undesired Inventory Accumulation: a symptom of disequilibrium where
aggregate output > aggregate demand
Undesired Inventory Draw: a symptom of disequilibrium where
aggregate output < aggregate demand
№7 слайд![. Equilibrium Model Solution](/documents_6/2d1b1a72ff5401f61b7f16718618bb5e/img6.jpg)
Содержание слайда: 3. Equilibrium Model Solution Method
1. Substitute the given equations into the equation for aggregate demand AD.
2. Apply the assumed equilibrium condition:
Y = AD
3. Substitute the derived equation for AD from step 1 into the right-hand side of the equilibrium condition in step 2.
4. Simplify the equation. This often means solving for income (Y), since Y should appear on both the left- and right-hand sides of the equation in step 3.
№8 слайд![. Simple Equilibrium Model in](/documents_6/2d1b1a72ff5401f61b7f16718618bb5e/img7.jpg)
Содержание слайда: 4. Simple Equilibrium Model in Action
Describing the economy
AD = C + I + G + NX
AD = aggregate demand
C = consumption
I = investment
D = government spending
NX = net exports (exports – imports)
YD = C + S
YD = disposable income
S = savings
YD = Y + TR – TA
Y = national income
TR = government transfer payments
TA = government taxes
№9 слайд![. Simple Equilibrium Model in](/documents_6/2d1b1a72ff5401f61b7f16718618bb5e/img8.jpg)
Содержание слайда: 4. Simple Equilibrium Model in Action
Solving the model
1. Substitute given equations into equation for AD:
YD = YD
C + S = Y + TR – TA
C = Y + TR – TA - S
AD = C + I + G + NX
= (Y + TR - TA - S) + I + G + NX
2. Apply equilibrium condition:
Y = AD
3. Substitute solution for AD from Step 1:
Y = Y + TR - TA - S + I + G + NX
Simplify equation:
G + TR - TA = S - I - NX
№10 слайд![. Simple Equilibrium Model in](/documents_6/2d1b1a72ff5401f61b7f16718618bb5e/img9.jpg)
Содержание слайда: 4. Simple Equilibrium Model in Action
Implications of the model
In equilibrium:
G + TR - TA = S - I - NX
Crowding Out
Ricardian Equivalence
Twin Deficits
№11 слайд![. Simple Equilibrium Model in](/documents_6/2d1b1a72ff5401f61b7f16718618bb5e/img10.jpg)
Содержание слайда: 4. Simple Equilibrium Model in Action
Crowding Out
In equilibrium: G + TR - TA = S - I - NX
Assume:
Increase in government deficit (G + TR - TA)
Savings (S) and net exports (NX) constant
Result:
Decrease in investment (I)
№12 слайд![. Simple Equilibrium Model in](/documents_6/2d1b1a72ff5401f61b7f16718618bb5e/img11.jpg)
Содержание слайда: 4. Simple Equilibrium Model in Action
Ricardian Equivalence
In equilibrium: G + TR - TA = S - I - NX
Assume:
Increase in government deficit (G + TR - TA)
Investment (I) and net exports (NX) constant
Result:
Increase in savings (S)
№13 слайд![. Simple Equilibrium Model in](/documents_6/2d1b1a72ff5401f61b7f16718618bb5e/img12.jpg)
Содержание слайда: 4. Simple Equilibrium Model in Action
Twin Deficits
In equilibrium: G + TR - TA = S - I - NX
Assume:
Increase in government deficit (G + TR - TA)
Savings (S) and investment (I) constant
Result:
Decrease in net exports (NX)
№14 слайд![. Simple Equilibrium Model in](/documents_6/2d1b1a72ff5401f61b7f16718618bb5e/img13.jpg)
Содержание слайда: 4. Simple Equilibrium Model in Action
Implications of the model