Some facts in business-cycle Real-business-cycle theory's explanation to some important economic variables Explanation to the fluctuations of output, consumption investment Explanations to employment fluctuation Explanations to monetary fluctuation Evaluation to Real-business-cycle theory

Lecture 7 Tourism and Sustainable Development Tourism is the world's largest industry(WTTC et al., 1995). It employs approximately one in nine workers worldwide, comprising 6% of global gross national product (GNP) and, it has been seen as a panacea for solving many social problems and for driving economic growth

Learning Objectives Explain the difference between economic, accounting, and tax concepts of income Explain the principles used to determine who is taxed on a particular item of income

This socio-economic growth, together with the rapid expansion of Hong Kong's port and airport facilities and increase in cross boundary traffic, have placed tremendous demands on transport

The State of the HK Economy The Hong Kong economy staged a sharp rebound over the course of 1999, recovering robustly from the severe setback brought about by the earlier Asian financial turmoil. The recovery was strongly export-led. In consequence, there was a marked increase in the combined visible invisible trade surplus over the year

一、经济制度 1、经济体制(economic system)一是指各种安排经济活动的制度与行为模式,是满足消费需要及资源配置的各种运作方式,如一国的法律、习惯、风俗、价值准则等即反映各种运作的方 式。 2、经济体制受哪些因素的影响? (1)历史、文化、宗教的背景; (2)人口、自然资源、气候、地形等条件; (3)领袖人物所倡导的思想意识; (4)追求理想与达到目的的各种主张; (5)追求经济目标时,人民的尝试过的方法

四、技术 （一）技术进步对经济发展的贡献 （二）技术创新 （三）发展中国家的技术引进 （四）技术进步类型 （五）新经济与经济发展 五、制度（INSTITUTION） （一）市场效率 （二）制度概念 （三）发展中国家的发展激励结构 （四）案例：小额信贷

产权的结构及产权制度的起源 产权的结构:使用权、收益权、处置权 产权制度的起源与演进:公地的悲剧、印 第安人案例。 建立与运用产权的费用:界定和管理产权 的费用;就权力的交换和转让进行谈判 和执行协议的费用

问题的提出 据美国著名中国问题专家费正清教授在上一世 纪30年代的研究结果,1799年(清代中期)的 国内生产总值已占全世界GDP的44%,比今天 的美国还要强大。今天中国GDP仅占世界总量 比例的3.5%

制度的构成 非正式约束(内在制度):包括价值信念 、伦理规范、道德观念、风俗习惯、意 识形态等,意识形态处于核心地位。 正式约束(外在制度):包括政治规则、 经济法规和契约,从宪法到成文法和不 成文法