宏观经济学╱应用经济学研究生系列教材[英文]Chapter 1.ppt

1、CHAPTER 1 The Science of Macroeconomics,MANKIWS MACROECONOMICS MODULES,A PowerPointTutorial To Accompany MACROECONOMICS, 7th. Edition N. Gregory Mankiw Tutorial written by: Mannig J. Simidian B.A. in Economics with Distinction, Duke University M.P.A., Harvard University Kennedy School of Government

2、M.B.A., Massachusetts Institute of Technology (MIT) Sloan School of Management,Mankiws Macroeconomics Modules for Macroeconomics 7th ed. are dedicated to the loving memory of my cherished father, best friend and mentor. Daddy you are still my inspiration for making sure these tutorials are the best

3、they can be for students worldwide! Ara Vahan Simidian (June 24, 1928 - December 19, 2008) May he continue to enjoy learning and loving economics from heaven above.,In Memoriam,Ara Vahan Simidian with Mankiws Macroeconomics Modules author, Mannig J. Simidian, 2007.,Professor Greg Mankiw is not only

4、a prolific, talented, and ingenious economist, but humble and kind-hearted. His unique and extraordinary creative ability to impart knowledge makes him both an economist and artist. I am so honored and grateful again be a part of supplementing his unprecedented craftsmanship. My mentor, and friend f

5、or over a decade Professor Mike McElroy (North Carolina State University) was the first to see the novelty in these tutorials while I was an undergraduate student at Duke University. His contributions and influence will be a part of my work indefinitely. My gratitude is endless as well to Professors

6、 David Denslow, Mark Rush, Ed Tower, and Jeff Frankel. My love and gratitude goes to my dear friend and surrogate father Dr. Lawrence Brockman, D.M.D, an endodontist but an economist in spirit who has been my teacher, inspiration and dearest friend for over a decade. I also want to thank the followi

7、ng special people in my life: my mother, Jane, Michael Hill, Elle at any given price, pizzerias find that the sale of pizza is more profitable, and thus the supply of pizza rises.,This translates into a rightward shift in supply from S to S. Result: price falls, quantity rises.,Prices: Flexible vs.

8、Sticky,Economists typically assume that the market will go into an equilibrium of supply and demand, which is called the market clearing process. This assumption is central to the pizza example on the previous slide. But, assuming that markets clear continuously, is unrealistic. For markets to clear

9、 continuously, prices would have to adjust instantly to changes in supply and demand. But, evidence suggests that prices and wages often adjust slowly. So, remember that although market-clearing models assume that wages and prices are flexible, in actuality, some wages and prices are sticky. Market-

10、clearing models may not describe every instant in an economy, but they do depict the equilibrium toward which the economy gravitates.,Using Microeconomics in Macroeconomics,How Mankiws Macroeconomics Modules Proceed,The modules mirror the sequencing of the text, Macroeconomics, 7th ed. There are six

11、 parts and a total of nineteen chapters with a module written for each chapter. Enjoy!,Part One,Part Two,Part Three,Part Four,Part Five,Part Six,Introduction,Classical Theory, The Economy in the Long Run,Growth Theory, The Economy in the Very Long Run,Business Cycle Theory: The Economy in the Short Run,Macroeconomic Policy Debates,More on the Microeconomics Behind Macroeconomics,Macroeconomics Real GDP Inflation a