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山东大学货币经济学(英)授课教案 课程代码 课程名称 授课教师姓名 0023100710-4 Monetary Economics Kong Danfeng (孔丹凤) 金融数学 2011 级 39 人 授课对象 留学生 2 人(荷兰、意大利) 本单元或章节的教学目的与要求 Chapter 22 Aggregate Demand and Supply Analysis 授课日期 授课方式 职称 授课时数 授课地点 月 日() 授课+讨论 Professor 18 周 周 3 中心理综楼 208 The basic tool used to analyze the role of money in the economy in this book is aggregate demand and supply analysis. My experience in the classroom suggests that aggregate demand and supply analysis is actually easier for students to learn than the ISLM model. They find it more intuitive because its diagram is similar to that found in standard supply and demand analysis, which is usually more familiar and thus more comfortable. In addition, as later chapters indicate, aggregate demand and supply analysis is useful for understanding important real-world problems such as inflation that cannot be analyzed effectively with the fixed-price ISLM model. Chapter 22 begins by generating a downward-sloping aggregate demand curve from the equation of exchange, MV PY. It is easiest to start with this quantity theory view of aggregate demand because the equation of exchange enables the instructor to use a simple numerical example to nail down the concept of an aggregate demand curve. However, the components analysis suggests that other factors (fiscal policy and “animal spirits”) also affect aggregate demand. The long-run supply curve is developed first and it is easy for students to see that it is vertical. The short-run aggregate supply curve is also developed in an intuitive fashion. The concept of equilibrium in aggregate demand and supply analysis is easy to get across to students because they are already familiar with it from their study of standard supply and demand analysis. Once the student understands the basic framework outlined above, emphasize that other factors such as expected inflation, wage push, or supply shocks can affect the short-run aggregate supply curve. In order to bring international factors into the aggregate demand and supply analysis of the chapter, net exports are included in the definition of aggregate demand. 授课主要内容及学时分配 Chapter 22 Aggregate Demand and Supply Analysis Aggregate Demand Quantity Theory of Money Approach to Aggregate Demand Deriving Aggregate Demand from the Behavior of Its Component Parts Aggregate Supply Long-Run Aggregate Supply Curve Short-Run Aggregate Supply Curve Shifts in the Short-Run Aggregate Supply Curve Factors That Shift in the Short-Run Aggregate Supply Curve Equilibrium in Aggregate Supply and Demand Analysis Equilibrium in the Short Run Equilibrium in the Long Run Changes in the Equilibrium from Aggregate Demand Shocks Changes in the Equilibrium from Aggregate Supply Shocks Shifts in the Long-Run Aggregate Supply Curve: Real Business Cycle Theory and Hysteresis 1 Conclusions Summary 重点、难点及对学生的要求(掌握、熟悉、了解、自学) Why Study Money and Monetary Policy? Money and Business Cycles Money and Inflation Money and Interest Rates Conduct of Monetary Policy Fiscal Policy and Monetary Policy 主要外语词汇 Chapter 22 Aggregate Demand and Supply Analysis aggregate demand demand shocks natural rate of unemployment aggregate demand curve government spending net exports aggregate supply hysteresis planned investment spending aggregate supply curve Keynesians real business cycle theory “animal spirits” monetarists self-correcting mechanism consumer expenditure natural rate or output supply shocks 辅助教学情况(多媒体课件、板书、绘图、标本、示教等) 多媒体课件、板书 课程网站资源 http://www.course.sdu.edu.cn/G2S/Template/View.aspx?action=view&courseType=0&courseId=325 复习思考题 Chapter 22 Aggregate Demand and Supply Analysis l. If exports fall while imports rise, what happens to the aggregate demand curve? 2. If government expenditure goes down while taxes are raised to balance the budget, what happens to the aggregate demand curve? 3. Suppose that government spending is raised at the same time that the money supply is lowered. What will happen to the position of the aggregate demand curve? 4. Why does the aggregate demand curve shift when "animal spirits" change? 5. If the dollar increases in value relative to foreign currencies so that foreign goods become cheaper in the United States, what will happen to the position of the short-run aggregate supply curve? The aggregate demand curve? 6, "Profit-maximizing behavior on the pan of firms explains why the short-run aggregate supply curve is upward-sloping." Is this statement true, false, or uncertain? Explain your answer. 7. If huge budget deficits cause the public to think that there will be higher inflation m the future, what is likely to happen to the short-run aggregate supply curve when budget deficits rise? 8. If a pill were invented that made workers twice as productive but their wages did not change, what would happen to the position of the short-run aggregate supply curve? 9. When aggregate output is below the natural rate level, what will happen to the price level over time if the aggregate demand curve remains unchanged? Why? 10. Show how aggregate demand and supply analysts can explain why both aggregate output and the price level fell sharply when investment spending collapsed during the Great Depression. 11. "An important difference between Keynesians and monetarists rests on how long they think the long run actually is." 2 Is this statement true, false, or uncertain? Explain your answer. Using Economic Analysis to Predict the Future. 12. Predict what will happen to aggregate output and the price level if the Federal Reserve increases the money supply at the same time that Congress implements an income tax cut. 13. Suppose that the public believes that a newly announced anti-inflation program will work and so lowers its expectations of future inflation. What will happen to aggregate output and the price level in the shorn run? 14. Proposals have come before Congress that advocate the implementation or a national sales tax. Predict the effect of such a tax on both the aggregate supply and demand curves and on aggregate output and the price level. 15. When there is a decline in the value of the dollar, some experts expect it to lead to a dramatic improvement in the ability of American firms to compete abroad. Predict what would happen to output and the price level in the United States as a result. 参考教材(资料) 1、Frederic S. Mishkin, The Economics of Money, Banking and Financial Markets, 8th edition, Pearson Education, 2007. 2、米什金,《货币金融学(中文版)》(第九版)(郑艳文、荆国勇译),中国人民大学出版社,2011 年。 3、姜旭朝、胡金焱、孔丹凤,《货币经济学》(第二版),经济科学出版社,2008 年。 3