•Inflation and Quintessence –Essential ingredients of standard model. •Unification : Quintessential inflation. •Building Blocks. •Model independent Estimates. •Brane world models. •Unification in standard FRW framework

9.1 Measuring the Unemployment Rate, the Labor Force Participation Rate, and the Employment -Population Ratio 9.2 Types of Unemployment 9.3 Explaining Unemployment 9.4 Measuring Inflation 9.5 Using Price Indexes to Adjust for the Effects of Inflation 9.6 Nominal Interest Rates versus Real Interest Rates 9.7 Does Inflation Impose Costs on the Economy?

There is ahvays a temporary tradeoff befween inflation and unemploy from inflation per se, but from unanticipated inflation, which generally means, from a rising rate of inflation Milton friedman Most economists analyze short-run fluctuations in aggregate income and the price level using the model of aggregate demand and aggregate supply. In the IS-LM modek hapters, we examined aggregate demand in some detail. The IS-LM model-together with its open-economy cousin the Mundell-Fleming model-shows how changes in monetary and fiscal policy and shocks to the money and goods markets shift the aggregate demand curve. In this chapter

17.1 The Discovery of the Short￾Run Trade-off between Unemployment and Inflation 17.2 The Short-Run and Long￾Run Phillips Curves 17.3 Expectations of the Inflation Rate and Monetary Policy 17.4 Federal Reserve Policy from the 1970s to the Present

10-1: Inflation, Expected Inflation, and Unemployment 10-2: The Phillips Curve 10-3: A Summary and many Warnings

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

Measuring the Cost of Living Inflation refers to a situation in which the economy’s overall price level is rising.(通货膨胀指经济的总体 物价水平上涨) The inflation rate is the percentage change in the price level from the previous period

11-1: utput, Unemployment, and Inflation 11-2: The Medium Run 11-3: Disinflation: A First Pass 11-4: Expectations, Credibility, and Nominal Contracts 11-5: The U.S. Disinflation, 1979 to 1985

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

Future values Present values Multiple Cash Flows Perpetuities and Annuities Inflation Time value Effective Annual Interest Rate