清华大学宏观经济学原理与现实第二讲PPT课件.ppt

Whenyouhavecompletedyourstudyofthischapter youwillbeableto CHAPTERCHECKLIST Describewhat how andforwhomgoodsandservicesareproducedintheUnitedStates Usethecircularflowmodeltoprovideapictureofhowhouseholds firms andgovernmentsinteract Describethemacroeconomicperformance standardofliving costofliving andeconomicfluctuations oftheUnitedStatesandothereconomies 2 1WHAT HOW ANDFORWHOM WhatDoWeProduce Inmacroeconomics wedividethevastarrayofgoodsandservicesproducedinto ConsumptiongoodsandservicesInvestmentgoodsGovernmentgoodsandservicesExportsofgoodsandservices 2 1WHAT HOW ANDFORWHOM WhatDoWeProduce FinalgoodorserviceAgoodorservicethatisproducedforitsfinaluserandnotasacomponentofanothergoodorservice IntermediategoodorserviceAgoodorservicethatisproducedbyonefirm boughtbyanotherfirm andusedasacomponentofafinalgoodorservice ConsumptiongoodsandservicesGoodsandservicesthatareboughtbyindividualsandusedtoprovidepersonalenjoymentandcontributetoaperson sstandardofliving Forexample moviesanddentalservices InvestmentgoodsGoodsthatareboughtbybusinessestoincreasetheirproductiveresources Forexample cranesandtrucks 2 1WHAT HOW ANDFORWHOM GovernmentgoodsandservicesGoodsandservicesthatareboughtbygovernments Forexample missilesandbridges ExportsgoodsGoodsandservicesproducedintheUnitedStatesandsoldinothercountries Forexample computersandbankingservices 2 1WHAT HOW ANDFORWHOM Figure2 1showstherelativemagnitudesofthedifferenttypesofgoodsandservicesin2002 2 1WHAT HOW ANDFORWHOM Consumption61 Investment13 Government17 Exports9 2 1WHAT HOW ANDFORWHOM HowDoWeProduce FactorsofproductionTheproductiveresourcesusedtoproducegoodsandservices Factorsofproductionaregroupedintofourcategories LandLaborCapitalEntrepreneurship 2 1WHAT HOW ANDFORWHOM LandLandAllthe giftsofnature thatweusetoproducegoodsandservices Allthethingswecallnaturalresources Landincludesminerals water air wildplants animals birds andfishaswellasfarmlandandforests 2 1WHAT HOW ANDFORWHOM LaborLaborTheworktimeandworkeffortthatpeopledevotetoproducinggoodsandservices HumancapitalTheknowledgeandskillthatpeopleobtainfromeducation on the jobtraining andworkexperience 2 1WHAT HOW ANDFORWHOM CapitalCapitalTools instruments machines buildings andotherconstructionsthathavebeenproducedinthepastandthatbusinessesnowusetoproducegoodsandservices Capitalincludessemi finishedgoods officebuildings andcomputers Capitaldoesnotincludemoney stocks andbonds Theyarefinancialresources 2 1WHAT HOW ANDFORWHOM EntrepreneurshipEntrepreneurshipThehumanresourcethatorganizeslabor land andcapital Entrepreneurscomeupwithnewideasaboutwhatandhowtoproduce makebusinessdecisions andbeartherisksthatarisefromthesedecisions 2 1WHAT HOW ANDFORWHOM ForWhomDoWeProduce Factorsofproductionarepaidincomes RentIncomepaidfortheuseofland WagesIncomepaidfortheservicesoflabor InterestIncomepaidfortheuseofcapital 2 1WHAT HOW ANDFORWHOM Profit orloss Incomeearnedbyanentrepreneurforrunningabusiness FunctionaldistributionofincomeThepercentagedistributionofincomeamongthefactorsofproduction PersonaldistributionofincomeThepercentagedistributionofincomeamongindividualpersons 2 1WHAT HOW ANDFORWHOM Figure2 2showsthefunctionaldistributionofincome Laborincome72 Netinterestincome8 Personalrentalincome2 Corporateincome9 Proprietors income9 2 1WHAT HOW ANDFORWHOM Figure2 3showsthepersonaldistributionofincome Therichest20 earned47 oftotalincome Thepoorest20 earnedonly5 oftotalincome 2 2CIRCULARFLOWS CircularflowmodelAmodeloftheeconomythatshows Thecircularflowofexpendituresandincomesthatresultfromdecisionmakers choicesandthewaythosechoicesinteractinmarketstodeterminewhat how andforwhomgoodsandservicesareproduced 2 2CIRCULARFLOWS HouseholdsandFirmsHouseholdsIndividualsorpeoplelivingtogetherasdecision makingunits FirmsInstitutionsthatorganizeproductionofgoodsandservices Firmsareownedbyhouseholds directlyorindirectly viagovernments 2 2CIRCULARFLOWS IndustryClassification China Primaryindustry agriculture forestry animalhusbandryandfisherySecondaryindustry miningandquarrying manufacturing productionandsupplyofelectricity waterandgas andconstructionTertiaryindustry allothereconomicactivitiesnotincludedinprimaryorsecondaryindustry 2 2CIRCULARFLOWS Tertiaryindustry Transport Storage PostandTelecommunicationsWholesaleandRetailTradeandCateringServicesFinanceandInsuranceRealEstateSocialServicesHealthCare SportsandSocialWelfareEducation CultureandArts Radio FilmandTelevisionScientificResearchandPolytechnicServicesServicesforFarming Forestry AnimalHusbandryandFisheryGeologicalProspectingandWaterConservancyGovernmentAgencies PartiesAgenciesandSocialOrganizationsOthers 2 2CIRCULARFLOWS MarketsAmarketisanyarrangementthatbringsbuyersandsellerstogetherandenablesthemtogetinformationanddobusinesswitheachother Factormarketsaremarketsinwhichfactorsofproductionareboughtandsold Goodsmarketsaremarketsinwhichgoodsandservicesareboughtandsold 2 2CIRCULARFLOWS Infactormarkets Householdssupplyfactorsofproduction Firmshirefactorsofproduction Firmssupplygoodsandservicesproduced Householdsbuygoodsandservices Ingoodsmarkets RealFlowsandMoneyFlows 2 2CIRCULARFLOWS Thesearetherealflowsintheeconomy RealFlowsandMoneyFlows Moneyflowsrunintheoppositedirectiontotherealflows 2 2CIRCULARFLOWS Firmspayhouseholdsincomesfortheservicesoffactorsofproduction RealFlowsandMoneyFlows Householdspayfirmsforthegoodsandservicestheybuy Thesearethemoneyflows Theblueflowsareincomes Theredflowsareexpenditures 2 2CIRCULARFLOWS PublicfinancebasicsMarketfailure governmentfailurePublicgoods vs privategoods Nonrivalrous consumptionbyonepersondoesn tpreventotherpeoplefromconsumingNonexcludable difficulttopreventanyonefromconsumingEconomicfunctionsofagovernment Maintainingsocial economicorderandsocialfairness socialsecuritysystemMaintainingmacroeconomicstabilityandhealthyeconomicdevelopmentwithmacroeconomicpoliciesProvidingpublicgoods services education healthcare infrastructure nationaldefense etc Taxisthepaymentforpublicgoods services GovernmentsWedividegovernmentsintotwobroadlevels FederalgovernmentStateandlocalgovernmentFederalGovernmentThefederalgovernment smajorexpendituresaretoprovide GoodsandservicesSocialsecurityandwelfarebenefitsTransferstostateandlocalgovernments 2 2CIRCULARFLOWS Thefederalgovernmentfinancesitsexpendituresbycollectingtaxes Themaintaxesare PersonalincometaxesCorporate business taxesSocialsecuritytaxesDuringtheearly2000s thefederalgovernmentisspendingandcollectingintaxesmorethan 2trillionayear about20centsineverydollarearned 2 2CIRCULARFLOWS StateandLocalGovernmentsStateandlocalgovernmentsexpendituresprovide GoodsandservicesWelfarebenefitsStateandlocalgovernmentsfinancetheseexpendituresbycollectingtaxes Themaintaxesleviedare SalestaxesPropertytaxesStateincometaxes 2 2CIRCULARFLOWS China sgovernmentalhierarchy 5levels central 4levelsoflocal over50 000entities 5 4 Householdsandfirmspaytaxesandreceivetransfers Governmentsbuygoodsandservicesfromfirms GovernmentintheCircularFlow 2 2CIRCULARFLOWS FederalGovernmentExpenditures Figure2 6 a showsfederalgovernmentexpenditures 2 2CIRCULARFLOWS FederalGovernmentRevenue Figure2 6 b showsfederalgovernmentrevenue 2 2CIRCULARFLOWS FederalGovernmentExpendituresandRevenueNationaldebtThetotalamountthatthegovernmenthasborrowedtomakeexpendituresthatexceedtaxrevenue torunagovernmentbudgetdeficit Duringtheearly2000s thefederalgovernment sbudgetisindeficitandthenationaldebtisincreasing 2 2CIRCULARFLOWS StateandLocalGovernmentExpendituresandRevenueThelargestpartofthestateandlocalgovernmentsexpendituresareon EducationHighwaysPublicwelfarebenefits 2 2CIRCULARFLOWS StateandLocalGovernmentExpenditures Figure2 7 a showsstateandlocalgovernmentexpenditures 2 2CIRCULARFLOWS StateandLocalGovernmentRevenue Figure2 7 b showsstateandlocalgovernmentrevenue 2 2CIRCULARFLOWS 2020 2 8 47 B NCF INT 2 2CIRCULARFLOWS GoodsMarketsGoodsmarkets ServicemarketsFactorMarketsLabor wagerate Capital rentalrate Landornaturalresources royalty othersFinancialMarkets stockandflow Moneymarket interestrates Loansmarkets interestrates SecuritiesMarkets Bond StockForeignexchangemarket exchangerates Gold andotherpreciousmetals marketRealestatemarketSpotMarkets FuturesMarketsandOtherDerivativesInteractionsamongVariousMarkets StandardofLivingStandardoflivingdependson QuantitiesofgoodsandservicesproducedNumberofpeoplewhosharethosegoodsandservicesThegreaterthevalueofproductionperperson thehigheristhestandardofliving 2 3MACROECONOMICPERFORMANCE WorldPopulationU S population 287 991 639 September8 2002 Worldpopulation 6 248 847 500 2 3MACROECONOMICPERFORMANCE ClassificationofCountriesAdvancedEconomiesThehighestlivingstandards 28countriesDevelopingEconomiesNotyetachievedahighstandardofliving 128countriesTransitionEconomiesTransitionfromstate ownershipofcapitaltofreeenterprise 28countries 2 3MACROECONOMICPERFORMANCE Figure2 8showsthestandardoflivingaroundtheworld Averageincomeperpersonrangesfrom 100adayintheUnitedStatesto 5adayinAfrica 2 3MACROECONOMICPERFORMANCE 2 3MACROECONOMICPERFORMANCE UnemploymentandLivingStandardsUnemploymentinfluencesthestandardofliving Theharderitistofindajob thelongeristheperiodofunemployment TheaverageunemploymentrateintheUnitedStatesinthepast20yearshasbeen6percentandittakesabout15weekstofindasuitablejob 2 3MACROECONOMICPERFORMANCE Figure2 9showsaverageunemploymentratesaroundtheworld TheunemploymentrateismuchhigherinSpainthaninmostadvancede