Introduction What are the three big problems macroeconomics studies? GDP -- Calculation: intermediate inventories;used;GNP Real v.s. Nominal (deflator; CPD) Okun'sLaw
Solow growth model 1. Production function(total; per capita) 2. Savings investment schedule 3. Depreciation 4. Steady state 5. Golden rule 6. Path from one steady state to the Golden Rule steady state
Introduction The objective of this chapter is to study how employment is determined in the labor market We are considering the labor market in which the following relation should always hold:
Introduction The objective of this chapter is to move from theory to empiric. Specially, we shall study how macroeconomic policies can be applied to solve practical macroeconomic problems
Chapter 7: The Analysis of Price Determination Gang Gong Copyright Notes: This electronic file is only used as a lecture notes for the student in this class. It is not allowed to be used for presentation anywhere else without the permission from the author
Introduction The aim of this chapter is to study how output is determined in Keynesian framework. The analysis in this chapter is often named multiplier analysis