**MY-ASSIGNMENTEXPERT™**可以为您提供 sydney ECOS2002 Macroeconomics宏观经济学的代写代考和辅导服务！

**MY-ASSIGNMENTEXPERT™**

#### 这是悉尼大学宏观经济学课程的代写成功案例。

**ECOS2002**课程简介

This unit of study develops models of the goods, money and labour markets, and examines issues in macroeconomic policy. Macroeconomic relationships, covering consumption, investment, money and employment, are explored in detail. Macro-dynamic relationships, especially those linking inflation and unemployment, are also considered. Exchange rates and open economy macroeconomics are also addressed. In the last part of the unit, topics include the determinants and theories of economic growth, productivity and technology, the dynamics of the business cycle, counter-cyclical policy and the relationship between micro and macro policy in the context of recent Australian experience.

## Prerequisites

At the completion of this unit, you should be able to:

**LO1**. understand theoretical models that form the body of contemporary macroeconomics**LO2**. understand and apply macroeconomic models to various economic problems and policy issues**LO3**. understand the associated empirical implications of policy issues**LO4**. apply new ways of thinking and appreciate the importance of intellectual curiosity and reflection as foundation for continuous learning**LO5**. identify, define and analyse problems and recommend creative solutions within real-world constraints**LO6**. demonstrate a capacity to work independently including the ability to plan and achieve goals**LO7**. critically evaluate underlying theories, concepts, assumptions, limitations and arguments in disciplinary and cross-disciplinary fields of study**LO8**. intellectually participate in public policy discussions arising in business and government environments**LO9**. manage, analyse, evaluate and use information efficiently and effectively.

**ECOS2002 Macroeconomics**（EXAM HELP， ONLINE TUTOR）

Answer the following questions.

(a) A sticky nominal wage is considered as one of the source of an increasing aggregate supply curve. Explain its logic.

Answer Assume that the nominal wage is fixed in the short run: $W=\bar{W}$. Note that in the short run equilibrium,

$$

w=\phi^{\prime}\left(l_e\right) T

$$

where $\phi\left(l_e\right) \equiv F\left(1, l_e\right)$ and $\phi^{\prime}\left(l_e\right)>0, \phi^{\prime \prime}\left(l_e\right)<0$. Since labor demand curve is a decreasing in the real wage, if the nominal wage is rigid, labor demand must be increasing in $P$ :

$$

P \uparrow \Rightarrow w=\frac{\bar{W}}{P} \downarrow \Rightarrow \phi^{\prime}\left(l_e\right) T \downarrow \Rightarrow l_e \uparrow .

$$

Therefore, the sticky nominal wage is one of the source of an increasing aggregate supply curve.

An imperfect information can be considered as another reason for an increasing aggregate supply curve. Explain its logic.

Answer Assume that firms observe output price $P$, but workers cannot. Hence, workers must make information about price. Workers’ expected price is denoted as $P^e$. Then workers respond to $\frac{W}{P^e}$ :

$$

\begin{aligned}

h_e\left(\frac{W}{P^e}\right) & =h_e\left(\frac{W}{P} \frac{P}{P^e}\right) \

& =h_e\left(w \frac{P}{P^e}\right) .

\end{aligned}

$$

Suppose that the overall price level $P$ goes up. However, workers do not know a change in aggregate price. Hence, $P^e$ stays the same. Hence, $\frac{P}{P^e}$ goes up and supply curve shifts to right.

What is the limitation of IS-LM model?

Answer IS-LM model is static. In order to analyze long-term changes or effects by policies, we need a dynamic model. A static model cannot answer what is the temporal effect and what is the permanent effect for example.

How do two explanations change policy implications?

Answer Because there is unemployed workers under sticky nominal wage model, an increase in demand can increase GDP by employing more workers. However, if the imperfect information model is correct, there are no unemployed workers. If active stabilization policy itself brings the uncertain movement of price, it may increase workers’ further misperception. It reduces the welfare of an economy.

**MY-ASSIGNMENTEXPERT™**可以为您提供 SYDNEY ECOS2002 MACROECONOMICS宏观经济学的代写代考和辅导服务！