MY-ASSIGNMENTEXPERT™可以为您提供 montana.edu EC1B1 Macroeconomics宏观经济学的代写代考和辅导服务！
这是伦敦政经学院宏观经济学课程的代写成功案例。
EC1B1课程简介
Teacher responsible
Dr Jonathon Hazell, 32L.1.22
Availability
This course is available on the BSc in Econometrics and Mathematical Economics and BSc in Economics. This course is not available as an outside option nor to General Course students.
Pre-requisites
Students must have completed Economics (EC1P1) and Elementary Statistical Theory I (ST109).
Students must also either have completed Quantitative Methods (Mathematics) (MA107) or else be taking Mathematical Methods (MA100) alongside.
Prerequisites
This course builds on the knowledge learned in EC1P1. You will learn why economic activity fluctuates over time (business cycles). We will discuss how government policy can affect short-term outcomes, such as unemployment, GDP and inflation. Other topics will include inequality and financial crises. We will apply the tools developed in the course to recent events, as well as historical events such as the Great Depression. An important aspect of the course is a coding exercise with data. This will help you acquire a deeper understanding of the material.
EC1B1, in combination with EC1A1, contributes towards certificate level exemptions from professional Chartered Institute of Management Accountants (CIMA) examinations.
This course, combined with EC1A1, contributes to the CB2 Exemption of the Institute and Faculty of Actuaries (IFoA).
EC1B1 Macroeconomics（EXAM HELP， ONLINE TUTOR）
Part I. True/False/Uncertain
Justify your answer with a short argument.
- From 1960 to 2000 , the US, EU, and Japan all have experienced similar rates of unemployment.
- GDP is the value of all goods and services produced in the economy.
- The Phillips Curve describes the negative relationship between the change in unemployment rate and inflation.
- Inflation is bad for the economy because goods and services are more expensive.
- The multiplier (Keynesian multiplier) is always greater than 1 if $\mathrm{T}=0$ and $\mathrm{G}=0$.
Part II. NATIONAL ACCOUNTS (GDP, GDP DEFLATOR \& CPI)
For part II, assume the following:
- MIT is an autonomous country.
- The only good/service produced at MIT is undergrad (freshmen) education.
Fill in the following:
Find the growth rate of nominal GDP for 2002, 2003 and 2004.
Find the growth rate of real GDP (using $2000 \$$ ) for 2002, 2003 and 2004.
Find the growth rate of real GDP (using 1950 \$) for 2002, 2003 and 2004.
Why are your answers in 2, 3 and 4 different/same?
Compute inflation using GDP deflator (using 2000\$) for 2002, 2003, 2004.
Beside GDP deflator what other price indices are used in measuring inflation?
Which one is the best? Why?
Part III. THE GOODS MARKET
(All units are millions of US dollars)
$$
\begin{aligned}
& \mathrm{C}=500+(0.5) \mathrm{Y}_{\mathrm{D}} \
& \mathrm{I}=100 \
& \mathrm{~T}=80 \
& \mathrm{G}=200
\end{aligned}
$$
- Solve for the goods market equilibrium. (Find equilibrium $Y, Z, C$, and $Y_D$.)
- Graph (with correct labels) equilibrium $\mathrm{Y}$ and $\mathrm{Z}$.
- Solve for private saving and public saving.
- What is the value of marginal propensity to consume $(\mathrm{mpc})$ ? What does it mean?
- What is the value of marginal propensity to save (mps)?
- What is the relationship between $\mathrm{mpc}$ and $\mathrm{mps}$ ?
- Find the multiplier and autonomous spending. Explain what they mean.
- Now, the government is facing a reelection and increases G from 200 to 240 . (Fiscal expansion) Why would the government want do so? Find the equilibrium demand, output, consumption, and disposable income, then graph.
Besides GDP deflator what other price indices are used in measuring inflation?
(page 31-32)
GDP Deflator $=$ gives the average price of output (the final goods produced in the economy)
CPI = Consumer Price Index
Average price of consumption (goods people consume)
$\mathbf{P P I}=\quad$ Producer Price Index
Prices of domestically produced goods in manufacturing, mining, agriculture, fishing, forestry, and electric utility industries.
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