Ch Added Mixed Economy - rossokun

oppositemincedΔιαχείριση

28 Οκτ 2013 (πριν από 3 χρόνια και 5 μήνες)

65 εμφανίσεις

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
1

Chapter Appendix

Economy System & International Trade

International Business

Lectured by: Chhay Kongkea, Ph.D.

Ph.D. Degree in Economics,

Majoring in Agricultural Economics

From Department of Agricultural Economics,

Graduate School, Chonnam National University,

Gwangju City, South Korea.

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
2

Four Market Arenas


TIpSarTMnij nig esvakmµ
(Market For Goods &
Services)


TIpSarRbPBFnFan
(Resources Markets / Inputs Market)


TIpSarhirBaØvtßú
(Financial Market / Money Markets)


TIpSarbþÚrR)ak;
(Foreign Exchange Rate Market)


10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
3

Markets For Goods and Services

Goods and Services Market

Household, Firms and Government

purchase

Goods and Services

Firms
supply

Goods and Services

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
4

Market for Factors of Production

Market for Factor of Production

Firms and Government

demand

labor

Households
supply

Inputs

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
5

Financial Markets

Financial Markets

Households, Firms and Government

demand
funds

Households
supply

funds

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
6

Foreign Exchange Rate Markets



The exchange rate between two countries is
the price at which residents of these countries
trade with each other.




In the market for foreign
-
currency exchange,
U.S. dollars are traded for foreign currencies.




US$ 1 = Cambodian Real 4100

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
7

RbB½n
§
énesdækic©

(Economic
Systems)


esdækic©Epnkar
(Planning Economy)


esdækic©EbbsgÁmniym
(Socialism)


esdækic©kumúµúynIsniym
(Communism)


esdækic©EbbhVasIusniym
(Fascism)


esdækic©cMruH
(Mixed Economy)


esdækic©TIpSaresrI
(Free Market Economy)

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
8

Households

Business

Firms

Resources

Income

Goods and Services

Expenditures

Solid Lines
-

Flow of Money

Dashed lines
-

Flow of Goods and Services

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
9

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
10

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
11

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
12

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
13

Demand Description

Supply Description

Income Description

Consumption

Agricultural Production

Wage

Private Investment

Government Expenditure

Excess of Exports over Imports

Net Income Transfers Abroad

Industrial Production

Production of Services

Government Production

Interest

Rent

Profit

GDP

Gross Domestic Product (GDP)

Gross Domestic Product (GDP)

Gross National Product (GNP)

+

+

+

+

+

+

+

+

+

+

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
14

Production Function and Theories of Growth

Output = A f(Labor, Capital, Land)


The Standard theory of Growth
-
Classical Growth Model


Saving


Investment


Increasing in Capital


Growth


Tax


Income in hand


Investment


Saving


Y

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
15

The Flow
-
of
-
Funds through Financial Markets

Financial Markets

Household Saving S
H

= Y*
-
T
-
C

Government Saving S
G

= T
-
G

Foreign Saving S
F

=
-
NX

Investment Demand I

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
16

Consumption Function:
C = C
0

+
c
Y

C
o

= Autonomous Consumption/Expenditure

cY

= Induced Consumption/Expenditure

c = Marginal Propensity to Consume (MPC)

Y = Income

Investment Function: I = I
0

+
m
Y

I
o

= Autonomous Investment

mY

= Induced Investment

m = Coefficient

Y = Income






10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
17

AD = Y = C + I + G + NX

AD = aggregate demand

C = consumption

I = investment

G = government spending


NX = net exports , (NX=exports


imports)

YD = C + S


YD = disposable income


S = savings

YD = Y + TR


TA


Y = national income


TR = government transfer payments


TA = government taxes

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
18

1.

Substitute given equations into equation for AD:


Y
D

= Y
D


C + S = Y + TR


TA


C = Y + TR


TA
-

S


AD = C + I + G + NX


= (Y + TR
-

TA
-

S) + I + G + NX


2.

Apply equilibrium condition:


Y = AD


3. Substitute solution for AD from Step 1:


Y = Y + TR
-

TA
-

S + I + G + NX

Simplify equation:


G + TR
-

TA = S
-

I
-

NX

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
19

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
20

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
21

Low

Productivity

Low

Per Capita

Income

Low Levels of

Investment in

Physical and

Human Capita
l

Low Level

of Saving

Rapid

Population

Growth

Low Level

of Demand

Figure. The Vicious Circle of Poverty

Low per capita incomes make it extremely difficult for poor nations to save and invest, a condition that perpetuates low prod
uct
ivity and low inc
omes. Furthermore, rapid population growth may quickly absorb increases in per capita real income and thereby may negate the
pos
sibility of br
eaking out of the poverty circle.

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
22

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
23

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
24

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
25

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
26

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
27

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
28

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
29

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
30

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
31

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
32

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
33

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
34

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
35

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
36

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
37

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
38

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
39

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
40

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
41

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
42

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
43

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
44

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
45

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
46

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
47

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
48

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
49

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
50

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
51

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
52

10/28/2013

Lecturer: Chhay Kongkea, Ph.D.

Intermediate Macroeconomics
53