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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
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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."
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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。
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