12. 1 Basic Principles of Building Macroeconomic model o Dynamic model in microeconomics .Consider variables time sequence and the time and process needed for variables adjustment &Cobweb theory D Qr=a-p Q3=-y+ 友学经济学院Dynamic model in microeconomics ❖Consider variables’ time sequence and the time and process needed for variables adjustment ❖Cobweb theory 12.1 Basic Principles of Building Macroeconomic Model t D Qt = a − p = − + t−1 S Qt  p D t S Qt = Q