Topics 4 questions from before HW#1 Unemployment Natural rate of unemployment reasons for unemployment Frictional unemployment Wait unemployment Patterns of unemployment

Goal Develop the Solow Growth Model How much of the economy's output should be consumed today and how much should be saved for the future? Static analysis(Ch. 3)> Dynamic

Questions from Last Lecture Demand for money↑ =)=l ,Y) ↑ while fixed →l(r,y: hold& to balance the pressure ofd↑; hold,↑ to balance

The money market LM curve The theory of liquidity preference

How the sr and lr differ In the Lr, prices are flexible and can respond to changes in S or D. In the Sr many prices are stuck at some predetermined level In the sr, monetary policy does have a potent effect on output and employment

Definition Inflation The overall increase in prices Hyperinflation: extraordinary high inflation

Topics Finish the assignment from last class Clarification for 4 questions from last class Demand for goods and services Equilibrium and the interest rate

Inflation, Unemployment, and the Phillips Curve Phillips Curve: relationship between inflation and unemployment A..Phillips (1958) \The relationship between unemployment and the rate of change of money wages in the united kingdom, 1861- 1957,\ Economica 25

上海水产大学：《经济学》课程电子教案（宏观经济学，主讲：杨正勇，共八章）

西安石油大学经济管理学院：《西方经济学》课程电子讲义（宏观经济学，打印版）14产品市场和货币市场