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ECON3010课程简介
Course Description: A presentation and study of national income aggregates and accounting; equilibrium analysis of output, employment and the price level; general equilibrium analysis; and an introduction to economic dynamics.
Course Prerequesites: ECON 1010 and 1020 or their equivalents; QA and MATH 2200/2350
Primary Text: Macroeconomics by N. Gregory Mankiw ( $10^{\text {th }}$ edition)
Classroom Polls: We’ll be using REEF Polling to take classroom polls. It is free to download the app to your phone, tablet or laptop.
Prerequisites
Course Description: Microeconomic theory is the study of models economists use to describe how agents (consumers, firms, governments, etc.) make decisions and how these decisions affect market outcomes and welfare. We begin by analyzing how consumers and firms make optimal decisions given the budgetary and physical/technological constraints they face. We then study how these decisions by individuals translate into competitive market equilibria, and look at the Conditions under which the “invisible hand” of the market optimizes welfare.
The second half of the class discusses deviations from the competitive ideal. We look at important sources of market failures, including including externalities, market power (monopolies), and asymmetric information. An important tool for economists in analyzing such situations where strategic interactions between people influences outcomes is game theory. The last section of the course will be a basic introduction to game theory and its applications in economics, including imperfectly competitive markets (e.g., oligopolies), public goods, and prinicpal-agent problems.
ECON3010 Macroeconomics（EXAM HELP， ONLINE TUTOR）
Chapter 2. Problems and Applications #7. Hint: The Laspeyres index is like the CPI with fixed quantities, while the Paasche index is like the GDP deflator with changing quantities.
Chapter 2. Problems and Applications 7.
a.
2010 (Base year)
Nominal GDP = (200 x $2) + (200 x $3) = $1000
Real GDP = (200 x $2) + (200 x $3) = $1000
GDP Deflator = ($1000/$1000) x 100 = 100
CPI = ($1000/$1000) x 100 = 100
2015
Nominal GDP = (250 x $4) + (500 x $4) = $3000Real GDP = (250 x $2) + (500 x $3) = $2000
GDP Deflator = ($3000/$2000) x 100 = 150
CPI = ($1600/$1000) x 100 = 160
b.
Price increase Hot Dogs = ($4 – $2)/$2 x 100 = 100%
Price Increase for Hamburgers = ($4 – $3)/$3 x 100 = 33.33%
GDP Deflator Inflation Rate 2015 = ((150 – 100)/100) x 100 = 50%
CPI Inflation Rate 2015 = ((160 – 100)/100) x 100 = 60%
The increase was greater for the CPI (Laspeyres Index) because the basket of goods is
fixed. Notice that the price increase was greater for hot dogs than hamburgers. Rational
consumers will substitute away from hot dogs towards hamburgers. This substitution
effect is captured by the GDP deflator (Paasche Index), but not the CPI.
Go to FRED and find the most recent data on the labor force, population, and unemployed. Use these figures to calculate $i$ ) the labor force participation rate and $i i$ ) the unemployment rate. Do your figures match the rates presented by the U.S. Bureau of Labor Statistics?
Solution. As of January 2020, FRED and the BLS have …
• Labor force = 164,606,000
• Population = 259,502,000
• Unemployed = 5,892,000
Using these numbers, we can calculate ….
• The labor force participation rate is 164,606,000/259,502,000 = 63.43%
• The unemployment rate is 5,892,000/164,606,000 = 3.6%
Yes, these figures match those on the BLS website.
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