The Ministry of Education of the Russian Federation approved by the decision of the program was drawn up in the Krasnoyarsk State University of the Methodological Council compliance with the State Department of Socio-Economic Planning Economic Faculty of Educational Standards of the Dean of the Economic Supreme Professional Faculty of Education in the specialties E.B. Bukharov _______________ 061100 "Management", "_____ »_____________2004 G. 061500" Marketing ", microeconomics - 2 and macroeconomics - 2 UDC 338.5 Working programm Disciplines Authors - compilers: Hanchukova Olga Vladimirovna, for specialties Serdyuk Natalia Pavlovna Microeconomics - 2 and macroeconomics - 2: Working program discipline. - Krasnoyarsk: Rio Krasga, 2004. (Express Edition) 061100 "Management" 061500 "Marketing" correspondence form Training © Krasga, 2004 © Ganchukova OV, Krasnoyarsk 2004 Serdyuk N.P., 2004 2 Firm Theory. 4. 1.5 I. Organization-methodical section Model of the general economic goal of the course: 5. Equilibrium L. Valras. 1.5 - give a comprehensive idea of \u200b\u200bthe science and practice of the application of economic and mathematical modeling, the section of economic and mathematical models - to disclose the mechanism for the construction and use of economic and mathematical models, 15.5 III of the macroeconomics. - explore the world experience in the theory and practice of economic and mathematical models. 1. General economic equilibrium. 5.0 The Theory of the Economic Cycle. The task of the course: 2. 2.0 - to develop in students the ability to properly use the conceptual apparatus of this economic growth. Course, 3. 4.5 - to develop the ability to actively apply the methods of economic modeling, 4. Structural models of the economy. 2.5 - to develop the ability to use economic and mathematical models in the study 5. Dynamic models. 1.5 economic phenomena modern economy. Use of the economy of mathematical models in various 0.5 place of course in the system of vocational education: IY regions of the economy. - This course has a key position in the course of comprehension of professional knowledge and in total on the discipline 32 mastering the skills of the economist. Requirements for the development of the course content: - a graduate specialist in the field of economy must freely own the theoretical section I. Methodical issues of using mathematical models in the economy of the methodological foundations of modeling economic processes, 1. The concept of models and modeling. - To be able to plan individual and joint activities and organize work on 2. Classification of models. goals, resources and results, - should be able to determine the goals, investigate and diagnose problems and situations, build forecasts, section II. Economic and mathematical models of the micro - economy - should be able to use the skills for building economic and mathematical models with the topic 1. Modeling the sphere of consumption of solutions both theoretical and practical tasks. Relationship preferences and utility function. Curves indifference. Maximum utility. Functions of consumer preferences. Consumer behavior model. Functions of supply and demand. Elasticity of demand. Elasticity coefficients for income and II. Contents course price. Cross elasticity coefficient. Giffen goods. Engel curves and trunkwist functions. The effect of income and substitution. Number of hours Topic 2. Modeling the production area The topic Production functions: interchangeability and complementar resources. Properties No. of production functions: Uniformity, monotony, concaveness. Resource use performance indicators: absolute, medium, limit. Elasticity of resource release, lecture Elasticity Methodical issues of using the replacement of labor capital, the limiting value of equivalent replacement. Section of mathematical models in the economy. 0.5 Building production functions. Types of production functions. Function I production costs. Medium and limit costs. Types of functions Economic and mathematical models of production costs. Section micro economy. 15.5 II Topic 3. Cantorovich Production Task Modeling consumption sector. The concept of an industrial method. Linear optimization model. Analysis of production 1. 6.0 processes using production methods. The task of Cantorovich: production modeling of the sphere of production. Methods, conditions for maximizing final products in a given assortment, balances 2. 6.0 production and distribution of products. The production task of Cantorovich. 3. 0.5 Topic 4. Firm Theory 3 4 Neoclassical theory firms. Comparative statics of the company. Imperfect competition. Models of the expanding economy and main development. Basic concepts. Model monopoly and monopasium. Competition among few. Oligopoly and oligoposony. Neumana equilibrium. The use is cut. Equilibrium Stachelberg. The results of theoretical analysis. Topic 5. Models of general economic equilibrium III. Control Forms Concept of equilibrium models: Chan tables, simple and extended reproduction diagrams of the monitoring form is an exam in a test on microeconomics-2 and macroeconomics-2 K. Maks, an expanded reproduction scheme with a change in the organic capital structure separately. V.I. Lenin. Combining the model of consumer behavior and models of behavior of firms in the supplement to the exam is a written job in the form of test workconsisting of an improved version of the Valras model. Two parts: Section III. Economic and Mathematical Models of Macroeconomics Capacitive Ticket Questions Macroeconomic Indicators: Gross Domestic Product (GDP) and Gross National Product (GNP). Real and nominal variables. Indices in macroeconomics. The rate of microeconomics - 2: percent and discounting. Production, distribution and use of national income. 1. The concept of models and modeling. 2. Classification of economic and mathematical models. Topic 1. The theory of economic oscillations 3. Relationships of preferences and indifference. Asoms of consumer choice. Model: Cumulative demand - a total proposal (AD-AS) with completely inelastic 4. Limit usefulness. Total utility. Consumer preferences feature. (long-term period) and completely elastic (short-term period) cumulative 5. Curves indifference. Properties of indifference curves. Budget lines and their properties. offer. The process of transition from short-term to long-term equilibrium. 6. Model of consumer behavior in terms of commodity-money relations. The IS-LM model as a simultaneous equilibrium model on the commodity and money market. 7. Functions of demand. Properties of demand functions. Uniformity of demand functions. Economic policy In the IS-LM model. The effectiveness of fiscal and credit-8. Elasticity of demand functions for price and income. Monetary policies depending on the parameters of the IS-LM model. Autonomous multiplers 9. The effect of income and substitution and their geometric interpretation. Expenditures balanced budget. Tax multiplier. 10. Modeling the sphere of production. 11. Production functions: interchangeability and complementar resources. Topic 2. The Theory of the Economic Cycle The main indicators of the efficiency of resource use. The concept of the economic cycle. Model of the economic cycle. The concept of economic lag. 12. Types of production functions. The impact of the rate of accumulation on the solution of the model of the economic cycle. 13. Cost functions. Medium and limit costs. Topic 3. Economic growth 14. Firm theory. Characteristics of the dynamic series. The concept of the trajectory of a dynamic series. Types 15. Neoclassical theory of firm. Tasks of the long-term and short-term period. economic Development And their trend models. Extensive and intensive factors Comparative statics of the company. development. Factor models. Models of speakers national income . Model Haroda - 16. Imperfect Competition. Monopoly and monoplication. Domar: Analysis of the properties of the model with various hypothesis changes in the consumption trajectory. 17. Competition among few. Oligopoly and oligopsony. Graphic illustration of changes in the time of national income and investment, norms 18. Equilibrium Courno. Equilibrium and non-equilibrium in stackelberg. Accumulation and consumption standards. Dynamic model of economic growth of SOLO. 19. Analysis of production processes using production methods. Stationary trajectory. Optimization with a constant rate of accumulation. "Golden Rule". 20. The production task of Cantorovich. Optimization with a variable rate of accumulation. Modifications of SOLO model. Methods for calculating sources of economic growth. Analysis of economic growth in Russia. Macroeconomics - 2: Topic 4. Structural models of the economy 1. Model of intersectoral balance. Mob scheme. Model of intersectoral balance. Mob scheme. The main prerequisites and properties of the Mob model. 2. The main prerequisites and properties of the model Mob. Indirect and full costs. Indirect and full costs. Productivity matrix costs. Full labor and resource costs. 3. Productivity matrix costs. Full labor and resource costs. Mobile aggregation. Mobile aggregation. 4. Modification of the main scheme of Mob. Mobile with the inclusion of demand and income functions. Modification of the main mob scheme. Mobile with the inclusion of demand and income functions. Mob, taking into account 5. Modification of the main scheme of Mob. Mob, taking into account the cost of environmental protection. Environmental costs. Mob, taking into account foreign economic relations. 6. Mob, taking into account foreign economic relations. Interregional mob. Interregional mob. The concept of the optimization model based on Mob. 7. The concept of an optimization model based on Mob. The production task of Cantorovich. 8. The concept of the trajectory of a dynamic series. Types of economic development and their trend topic 5. Dynamic model models. Dynamic model of intersectoral balance. Generalizes V.LEONTEV model. 9. Extensive and intensive development factors. Factor models. Optimization models with inter-sectoral balance matrices. 10. Principles of building dynamic models. Model Haroda-Domar: Analysis of model properties with various hypotheses relative to the trajectory of consumption. 5 6 11. Dynamic Salue Model. Stationary trajectory. "Golden Rule". Exemplary test option 12. Criterion for optimizing dynamic models: optimization of the constant rate of accumulation, optimizing the variable rate of accumulation. Microeconomics - 2 13. Theory of economic cycles. 14. General macroeconomic equilibrium. 1. Exogenous variables are variables: 15. Model of aggregate supply and suggestions: classical and Keynesian models. 1) which characterize the initial state of the system 2) the values \u200b\u200bof which are set to 16. Macroeconomic short-term and long-term equilibrium. The calculations according to the model 3) the values \u200b\u200bof which are determined by calculations according to the model 17. Macroeconomic equilibrium on the market and money market. IS-LM model. 2. The utmost utility of UI products and PI prices are correlated at the point of optimum: 18. Autonomous expenses, balanced budget. Tax 1) UI * pj \u003d uj * pi 2) UI * uj \u003d pi * pj 3) UI * pi \u003d uj * pj multiplier. 3. Curves indifference - these are the graphs of the function: 19. Dynamic inter-sectoral models. Dynamic model V.LEONTEVA. 1) demand for interchangeable goods 2) demand for complementar goods 3) constant 20. The use of economic and mathematical models in various fields of the economy. Usefulness 4) permanent level of income 4. For the consumer behavior model, it is used as optimal: 1) less than half of income 2) the entire income of the exemplary version of the test work 3) more than half of the income 5. Are the function of demand for goods homogeneous and what is equal to the degree of their homogeneity : Microeconomics - 2: 1) No 2) and the degree of homogeneity is 1 3) and the degree of homogeneity is 0 1. For the production function of the Kobb-Douglas y \u003d 5 k06 L0.4, write formulas and carry out 6. Isokvanta PF - The geometric location of points in the space of resources, characterized by calculations of the following indicators: the average and limiting efficiency of the use of resources, constant: the elasticity of production and interchangeability of resources, the homogeneity of the function, 1) of the production of production monotony. 2) the maximum rate of equivalent replacement of resources 3) the efficiency of capital use 2. For the function of demand for goods Y1 \u003d 4 P10.2 P2-0.6 D0.4 Write formulas and carry out the calculation: 4) the efficiency of labor use Elasticity of income demand, elasticity Demand from price, cross-coefficients 7. Labor efficiency in PF Cobb-Douglas Function: Elasticity, determine which group to attribute these goods (interchangeable or 1) permanent software L 2) decreasing by l 3) increasing by l complementary) 8. Resources In PF CES: Macroeconomics - 2: 9. 1) Interchangeable 2) The IS - LM 10 model is complementary. Prices in the company model (assumption of perfect competition) are given as 1) cost functions 2) of the release function Let the economy be described as follows: 3) Exogenous variables 4) endogenous variables Autonomous consumption 130, limit leaning to consumption 0.6, autonomous investment 120, feeling The cost of investment to the real rate of interest 5, the feeling of demand for the money to income is 0.8, the feeling of demand for money to the real rate of macroeconomics - 2 percent 6, money supply 700, government spending 330, taxes 350. 1. Which quadrant Mob is complied with The term y model X \u003d (EA) -1 * Y A. Construct the equations of the IS - LM model, find the equilibrium levels of real income, rate 1) first 2) second 3) the third percent of the planned investments and consumption. 4) Fourth 2. What type of production function (PF) is used in the Leontiev model "Costs, B. Determine new indicators from A if the money supply increases to 720. Give the release": Graphic illustration of a solution. 1) Linear PF 2) PF Cobb-Douglas 3) PF with PF with Stone's mutual resources. Determine new indicators from a if government spending increase to 350. 3. Full cost matrix coefficients (full multiplier) characterize the standards to give a graphic illustration solution. Costs with an increase in a unit 1) of the intermediate 2) of the final product of the city. Determine the new indicators from A if the taxes are reduced 3) gross product up to 330. Give a graphical illustration of the solution. 4. The conditions of equilibrium in the money market affect the Keynesian macroeconomic model on the balance of goods. When building a graphic illustration of a solution to combine graphics on one 1) True 2) incorrectly figure as follows: the first drawing is a graph for a and b, the second pattern is a chart 5. In the SOLO model along the stationary trajectory, all major variables change with for A and in , the third drawing is a graph for A and G. growth rate equal to the growth rate of 1) labor productivity 2) stock creation 7 8 3) of the labor force IY. Educational and methodological support of the course 6. The golden rule of capital accumulation determines how to find a sustainable state with a list of references to the highest level: the main 1) consumption per working 2) savings on one working 3) release per working 1. Castles O.O. Mathematical methods in economics / O.O. Zamkov, A.V. Tolstopyenko, Yu.N. 7. If in the model Harrod - Domar Consumption C (T) \u003d C (0) ERT grows with the rate of increment R equal to the cherem - M. : Publishing House "Dis", 1998. Technological Tone, then the rate of accumulation changes: 2. Economic cybernetics. Collection of tasks / Krasnoyarsk State University, 1) from 0 to 1 2) from n (0) to 0 3) from n (0) to 1 Krasnoyarsk, 1988. 4) from 1 to n (0), where N (0) - The rate of accumulation at the initial moment 3. Modeling of national economic processes / Ed. I.V. Kotov - Le.: Publishing House of LHA, 8. If in the IS-LM E model - the sensitivity of the demand for money to income, F is the sensitivity of 1990. Demand for money for interest rate, D is the sensitivity of investment to the interest rate, then 4. Ivanilov Yu.P. Mathematical methods in the economy / Yu.P. Ivanilov, A.V. Lots - M.: The multiplier of the state market depends on them: science, 1979. 1) from E and F - directly, D- is proportional to 2) from F- back, E and D - right 5. Granberg A.G. Simulation of the Socialist Economy / A.G. Granberg - M.: In proportion to 3) from F- directly, E and D - inversely in proportion to 4) from F and D - straight, E economics, 1988. - back proportional to 6. Granberg A.G. Dynamic models national economy / A.G. Granberg - M.: Economy, 9. The function of consumption of Keynes C \u003d 0.4U + 100 is given. The maximum propensity to save B will be 1985. equal to 1) B \u003d 0.4 2) B \u003d 0.6 3) B \u003d 1.67 4) B \u003d 2.5 Additional 10. In the classical model, the equality of demand and supply of goods is provided by oscillations: 1. Galperin V.M. Macroeconomics / N.I. Grebennikov, L.S. Tarasevich - M., 1994. 1) price level 2) interest rates 2. Maleno E. Lecture on microeconomic analysis / E. Maleno - M.: Science, 1986. 3) the magnitude of the release 4) money supply 3. Spline functions in economic research. Novosibirsk: Science, 1987. 4. Eklend I. Elements of the Mathematical Economics / I. Ekland - M., 1983. 5. Shagas N.L. Macroeconomics-2. Short-term aspect / N.L. Shagas., E.A. Tumanova / M.: Teis, 2003. 6. Shagas N.L. Macroeconomics-2. Long-term aspect / N.L. Shagas, E.A. Tumanova / M.: Theis, 2003. 7. Laard R. Macroeconomics. Course of lectures for Russian readers / Laard R. / M.: John Wailey & Sanz, 1994. 8. Mask N.G. Macroeconomics / Maskin N.G. / M.: Publishing House of Moscow State University, 1994. 9. Magazines "Mathematical Methods in Economics" 10. Mathematics reference for economists. 9 10 Microeconomics - 2 and Macroeconomics - 2 Ganchukova Olga Vladimirovna, Serdyuk Natalia Pavlovna Editor O.F. Alexandrova Authors Corrector Signed in print 31.05.2004 Replicated on electronic media Order 300 Release date 04.06.2004 Address in the Internet: www.lan.krasu.ru/studies/editions.asp Department information resources Management of informatization of beauty 660041 Krasnoyarsk, Ave. Free, 79, Aud. 22-05, e-mail: [Email Protected] Publishing Center of the Krasnoyarsk State University 660041 Krasnoyarsk, Ave. Free, 79, E-Mail: [Email Protected] 11
Economic theory includes 2 sections: microeconomics ("micro" - small) Macroeconomics ("Macro" - big; "Economy" - the management of the economy) Microeconomics investigates the patterns of economic behavior at the level of individual economic agents: the consumer (household) and the manufacturer (firms) and explains how and why they take economic decisions, and also studies the principles of the functioning of individual goods markets 2
Macroeconomics is ... Science, which studies the patterns of functioning of the economy as a whole, examines the interaction of economic agents and economic markets with each other, while the economy is considered as a complex, hierarchically organized system, as a combination of economic processes and phenomena and their indicators 3
The term "macroeconomics" for the first time used in his article in 1933, a well-known Norwegian scientist - economist-mathematician, one of the founders of econometrics, the Nobel Prize laureate (1969) Ragnar Frish (Ragnar Frisch) 4
Macroeconomics explores ... problems common to the entire economy and operates with cumulative values, such as: 5 gross domestic product, national income, cumulative demand, cumulative supply, cumulative consumption, investment, general price level, unemployment rate, public debt, etc.
The main problems that are studying macroeconomics: economic growth, its factors and pace; economic cycle and its causes; employment and unemployment; total price and inflation; the level of interest rate and cash circulation; State budget state and financing budget deficit; The state of the balance of payments and the exchange rate. 6.
All these problems cannot be solved from the position of micro economic Analysis, i.e. from the level of a separate consumer, a separate firm and even a separate industry. It is precisely because there are a number of such general economic problems, there is a need for an independent section of economic theory, independent discipline - macroeconomics. 7.
The importance of learning macroeconomics is that: it does not simply describe macroeconomic phenomena and processes, but reveals their patterns and dependencies between them, investigates causal relations in the economy; Knowledge of macroeconomic dependencies and connections allows you to evaluate the situation that exists in the economy and show what needs to be done to improve it, and first of all that the government should take, that is, it allows to develop the principles of economic policies; Knowledge of macroeconomics makes it possible to foresee how processes in the future will develop, i.e. to make forecasts, foresee future economic problems. 8
Macroeconomics Theories: Theory of Economic Growth, Business Cycle Theory, Unemployment Theory, Inflation Theory, Money Theory, State Debt Theory, Theory open economy, theory of macroeconomic policies, etc. 9
Macroeconomic agents Aggregation based on the identification of typical features of economic behavior makes it possible to allocate four macroeconomic agents: households State 10 firms Foreign sector
Households are a cumulative, rational acting macroeconomic agent, purpose economic activity Which is to maximize utility. Households are: V owners of economic resources (labor, land, capital and entrepreneurial abilities). Selling economic resources, households receive income, most of which they spend on consumption (consumer spending), and the remaining part saves and therefore act: v main buyers of goods and services; v major savings and therefore lenders (lenders), providing loanable funds in the economy. eleven
This is a cumulative, rationally operating macroeconomic agent, whose goal of economic activity stands for profit maximization. Firms are: V main manufacturers of goods and services in the economy; V buyers of economic resources with which the production process is carried out. 12
Firms for the expansion of production, ensuring the increase in capital stock and reimbursement of capital companies, investment goods are needed (first of all, equipment), so they are V buyers of investment goods, i.e., there is a demand for the product produced in the economy. Since sales proceeds are paid to households in the form of factor income, then to finance their investment expenditures, the company uses, as a rule, borrowed funds, Speaking by V main borrowers (borrowers) in the economy, preventing the demand for credit funds. 13
Private household economy sector and firms form a private household economy sector Private sector of the company 14
The state is a rational acting macroeconomic agent, submitted by a set of government agencies and organizations with political and legal law to influence the course of economic processes, regulate the economy. The main objective of the state in a market economy is to eliminate market failures and social welfare (Social Welfare). fifteen
The state is: v producer of public goods; v buyer of goods and services, which is necessary to ensure the functioning of the public sector; v rector of national income (through a system of taxes and transfers); v, depending on the state budget state, the lender or borrower in the financial market; sixteen
The state is: v regulator and organizer of the functioning of the market economy, the first first, creating and providing institutional framework for the effective development of the economy ( the legislative framework, safety system, tax system et al.), i.e. develops "Rules of the game", ortho-second, conducting a macroeconomic policy that is divided into structural, aimed at ensuring economic growth, and a conjunctural (stabilization), aimed at smoothing the cyclic oscillations of the economy (ensuring full employment resources and stable price level). 17.
Main types of macroeconomic policies Fiscal (or budget-tax) politics, monetary (or monetary) policies, foreign trade policies, income policy (policy "Wages - Prices"). eighteen
Closed economy Private and public sectors form a closed economy of households Private sector of the economy of the company State 19 Closed economy
The foreign sector is a cumulative, rational acting macroeconomic agent, uniting all other countries of the world with which this country interacts through: v international trade, i.e., the purchase and sale of goods and services (exports and import of goods and services); v movement of capital, i.e. purchases and sales financial assets - securities (export and import capital). twenty
Open Economy Adding to the Analysis of the Foreign Sector gives an open economy of the household company Private sector of the economy State 21 Closed Economics Foreign Sector Open Economics
Macroeconomic markets The aggregation of markets is carried out in order to identify the patterns of the functioning of each of them, namely: the following features of the formation of supply and demand and conditions for their equilibrium on each of the markets; Validation of equilibrium price and equilibrium volume based on the ratio of supply and supply; Valing consequences of changing equilibrium on each of the markets. 22.
Macroeconomic markets Aggregation of markets makes it possible to allocate four macroeconomic markets: Varynok of goods and services; Vfinancial market (financial assets market); Vary of economic resources; Valive market. 23.
The aggregated market of goods and services involves abstraction (distraction) from the entire diversity of goods produced by the economy and allocate the most important patterns of the functioning of this market, that is, the formation of the demand and supply of goods and services. 24.
Aggregated market of goods and services The demand for goods and services impose all macroeconomic agents, and the supply of goods and services provide firms. The ratio of supply and demand allows to obtain the value of the equilibrium price level for goods and services (price level - p) and the equilibrium volume of their production (Real Output - y). The market of goods and services is also called real Market (Real Market) because it is sold and buy real assets (real values). 25.
The financial market is the market on which the demand is made and ensures the proposal of financial assets Financial Market Money Market (Money Market) - the market of monetary financial assets 26 securities market (Bonds Market) - the market of non-monetary financial assets
The money market in the money market does not occur the processes of purchase and sales (buy money for money meaningless), however, the study of the patterns of the money market functioning, the formation of money and money demand for macroeconomic analysis is very important for macroeconomic analysis. The demand for money is imposed by all internal macroeconomic agents (households, firms and the state), and the money supply provides central bankhaving a monopoly rate of money release into circulation. 27.
The money market is the study of the money market, its equilibrium conditions makes it possible to obtain an equilibrium interest rate (Interest rate - R), speaking money (loan price), and the equilibrium amount of money supply (Money Stock - M), and also consider the effects of changing equilibrium in the money market and its influence on the market of goods and services. The main mediators in the money market are banks that take cash contributions And issued loans. 28.
The securities market in the securities market are sold and bought promotions and bonds. The action is a permanent securities (i.e., which does not have a maturity and existing so many years as it exists a company), which makes it a buyer with co-owner of this company and providing him with the right to participate in its management and the right to receive income - dividend, value which depends on the size of the profit of the company. 29.
The securities market in the securities market are sold and bought promotions and bonds. The bond is an urgent security (i.e., released for a certain period - for example, for a year, for 5 years, etc.), the buyer of which is a creditor. The bond does not give it to the owner the right to manage the company, but ensures the receipt of a fixed (regardless of the profit value) of the income - the percentage, and at the time of the maturity date - the return of the nominal value of the bond. thirty
The securities market by buyers of securities are primarily households who spend their savings in order to receive income (dividends on shares and interest on bonds). Sellers (issuers) shares are firms, and bonds - firms and the state. Firms produce shares and bonds in order to obtain funds to finance their investment costs and expansion of production, and the state issues bonds to finance the state budget deficit. 31.
The economic resources market in macroeconomic models is represented by the Labour Market, since the patterns of its functioning (the formation of demand for labor and labor supply) allows you to explain macroeconomic processes, especially in the short-term period. When studying the labor market, you must distract (abstract) from all differences in labor types, at qualification levels and training. 32.
The labor market demand for labor is imposed by firms, and the proposal of labor provides households. The equilibrium of the labor market allows you to determine the equilibrium amount of labor in the economy (Labour - L) and the equilibrium wage price - the payroll rate (Real Wage - W / P). Analysis of non-equilibrium in the labor market allows you to identify the causes and forms of unemployment. 33.
The currency market is the market on which the national monetary units are exchanged (currencies) different countries (dollars on yen, pounds sterling on the euro, etc.). The demand for the national currency is presented by foreigners who want to buy goods and (or) securities of this country, and the proposal national currency Provides the central bank of the country. As a result of the exchange of one national currency to another (ratio of supply and demand), its price is formed - exchange rate (E - Exchange Rate). 34.
The models of the robust of the product, costs and revenues to identify the most typical features of the behavior of economic agents (aggregation of agents) and the most significant patterns of functioning of economic markets (market aggregation) allows aggregation of macroeconomic interrelations, that is, to investigate the patterns of the behavior of macroeconomic agents in macroeconomic markets. 35.
Circuit of the product, expenses and revenues in a two-sector economy model consists of only 2 macroeconomic agents - households and firms - and 2 markets - the market of goods and services and the market of economic resources 36
The two-sector model of the economy (material flows) of the household purchase goods and services (make demand for goods and services) goods and services produce and deliver the company to this market (provide the supply of goods and services - a cumulative product) to produce goods and services, firms are purchased economic resources - labor, land, capital and entrepreneurial abilities (there are demand for economic resources) the owners of these resources are households (ensure the proposal of economic resources) 37
Two-sector economy model ( cash flows) Material streams are mediated by cash flows. Buying goods and services, households are paid for them, providing firms from sales (Revenue), this revenue of the company is paid to households in the form of factor income (INCOME), including: Q wages (Wage) - for the work factor; Q Rent (RENT) - for the land factor; q percentage (Interest) - for the factor of capital; Q Profit (Profit) - For the factor entrepreneurial abilities, in the amount of the components of the cumulative (national) income. The received household income is spent on the purchase of goods and services (cumulative product). 38.
The flow of flows in the model income and expenses are moving in a circle. The income of each economic agent is spent by creating income to another economic agent that serves as the basis for its expenses. Increased costs leads to income growth, and income growth serves as a prerequisite for further increase in costs. That is why the model received the name of the models of the circuit (circular streams). Material flows are moving counterclockwise, and cash - clockwise. The demand for goods and economic resources moves clockwise, and proposal against. 39.
The conclusions from the two-sector model q The value of each material flow is equal to the value of the cash flow Q The cost of the total product (output) is equal to the magnitude of the total (national) income q cumulative expenses (cumulative demand) are equal to the cumulative release (total proposal) q cumulative income is equal to total expenditures 40
The need for a financial market of households is rationally, therefore spend on the purchase of goods and services not all of their income. Part of the income they save, while saving (Saving - S) must generate income. The firms are needed in additional funds to ensure and expand production, i.e. in credit funds. This predetermines the need for the emergence of a financial market, on which household savings are transformed into investment resources of firms. 41.
Two ways to transform household savings into investment resources of firms mediated (indirect): households provide their savings to financial intermediaries (first of all banks), whose companies take loans (connection mediated through the money market) direct: households spend their savings to buy securities produced firms directly providing them with investment resources (communication directly through the securities market) q received on the financial market the firm's funds spend on the purchase of investment goods (equipment, etc.) 43
Public procurement First, the state makes the procurement of goods and services (Government Spending - G), which is associated with the need to maintain the public sector of the economy, ensuring the production of public goods, fulfilling the functions for regulating the economy and the management of the country. At the same time, the salary of civil servants is not considered as a fee for economic resource on the resource market, and how payment services in the market of goods and services. The government procurement of goods and services increase the total demand for the product produced in the economy, i.e. cumulative expenses. 45.
Taxes and transfers Secondly, the state obliges everyone to pay taxes (TX), which are the main source of income of the state budget. The state as a redistributor of national income not only collects taxes, but also pays transfers (TRNSFER payments). Transfers are payments that households and firms free (not in exchange for goods and services) are obtained from the state. Transfer payments of the state households are various social benefits (Social Benefits): pensions, scholarships, unemployment benefits, disability benefits, poverty benefits, etc. Transfer payments of the state firms are subsidies (subsidies). 46.
The state as a lender thirdly, depending on the state budget state, the state can act or a lender or a borrower in the financial market. If state revenues exceed the costs, i.e., there is a surplus (surplus) of the state budget, then the state can perform the creditor in the financial market, buying securities of private firms. Revenues\u003e Costs \u003d Narrief 47
State as a borrower if the state expenditures (government procurement plus transfers) exceed the state's income (taxes), which corresponds to the deficit of the state budget, then the state to pay for its expenses should take money in the financial market, speaking by the borrower. Revenues
The state loan mechanism The state issues public bonds (makes an internal loan) and sells them in the securities market households. Households spend some of their savings on the purchase of government bonds (thus financing the deficit of the state budget). The state pays to households percentage in their bonds, making them attractive to purchase. Interest payments increase household incomes, but are state budget expenditures and are called public debt costs. 49.
Four-sector Economic Model Inclusion in the Foreign Circuit Model gives a four-sector economy model (open economy model) relationship national Economy with the economies of other countries manifest international trade goods and services, i.e. export and import of goods and services Since only cash flows are reflected in the circuit model, then export (export - ex) means revenue (income) from exports (arrow from a foreign sector), and under import (Import - IM) - Import costs (arrow to the foreign sector). fifty
Macroeconomic Circuit Model Shows all types of interconnections and interdependencies in the economy. Now the subject of macroeconomics can be determined more accurately: macroeconomics studies the patterns of the behavior of macroeconomic agents in macroeconomic markets. 52.
Kola branch
OM Ostrovaya
Microeconomics. Macroeconomics. World economy
Tutorial
BBK 65.012Я73.
Reviewers:
head Department of Business Informatics of the Kola branch of FGBOU VPO Petrozavodsk State University, Doctor of Economics, Associate Professor M.V. Ivanov
associate Professor of the Department of Economics and Management of the Kola branch of FGBOU VPO Petrozavodsk State University, Candidate of Economic Sciences O.V. Savelyev
Ostrovskaya O.M.
Microeconomics. Macroeconomics. World economy: tutorial / O.M. Ostrovskaya. - Apatity: Publishing House of CF Petrhouse, 2015. - with. 108.
Tutorial on the discipline "Microeconomics. Macroeconomics. The world economy "was developed in accordance with the requirements of the federal state educational standard of higher professional education in the direction of training 38.03.01" Economics ", 38.03.02" Management ", 38.03.04" State and Municipal Management ", 38.03.05" Business-Informatics " And intended for students and graduate students of all forms of training.
Table. 8, Il. 39, bibliogr. - 13 Names.
Introduction five
Microeconomics. 6.
1. Economic theory as science. 6.
1.1. Genesis of economic theory. 6.
1.2. The subject of economic theory. nine
2. Fundamentals of social production. eleven
2.1. Public production and public wealth. eleven
2.2. Choice in the economy. 13
2.3. Alternative costs. fourteen
2.4. Economic systems and economic growth. fifteen
2.4.1. Possible models economic Systems.. 17
2.5. Property rights. eighteen
3. Market system Management. twenty
3.1. The emergence of market organization of the economy. twenty
3.2. Market mechanisms and state functions. 21.
4. Money as a developed form of commodity and money relations. 24.
4.1. Origin and essence of money. 24.
4.2. Money functions. Exchange equation. 26.
4.3. Money mass. Inflation. Cash reforms .. 27
5. Competition: types and role in the market economy. thirty
5.1. Perfect and imperfect competition. thirty
5.2. Antimonopoly (antitrust) legislation. 32.
6. Demand, supply, market equilibrium, elasticity. 34.
6.1. Demand and supply, equilibrium on the market. 34.
6.2. Elasticity of supply and demand. 38.
7. Consumer behavior. 41.
7.1. Theory of utmost utility. 41.
7.1.1. Rule maximizing utility. 43.
7.2. Consumer choice theory. 44.
8. Production costs. 48.
8.1. Types of costs. 48.
8.2. Costs in the long term. 52.
9. Markets of production factors. 54.
9.1. Work as a factor of production. 54.
9.2. Earth as a factor of production. 57.
9.3. Capital as a factor of production. 59.
9.4. Production function. 60.
Macroeconomics. 63.
10. Macroeconomic equilibrium. 63.
10.1. What is learning macroeconomics. 63.
10.2. Maintenance macroeconomic indicators. System of National Accounts (SNA) 65
10.3. GDP and pure economic well-being. 68.
10.4. Macroeconomic equilibrium. 68.
10.5. Keynesian equilibrium model. Keynesian cross. 72.
10.6. Multiplier. 74.
11. Monetary system. 76.
11.1. Demand for money and money supply, money circulation. 76.
11.2. The essence of the loan. Banking system. 77
11.3. Commercial Bank and its operations, a bank multiplier. 79.
11.4. Money-credit policy. 81.
12. Financial system and financial Policy states. 82.
12.1. Essence and function of finance. 82.
12.2. Fiscal policy of the state. 83.
12.3. Taxes and tax policies. 85.
12.4. Budget Policy states. 87.
13. Inflation. 90.
13.1. Essence and cause of inflation, its measurement. 90.
13.2. Types of inflation. 91.
13.3. Socio-economic consequences of inflation, Phillips curve. 93.
14. State and Economic Policy. 95.
14.1. Market failures and necessity state regulation. 95
14.2. Objectives and tools of state regulation. 96.
15. Economic cycles.. 98
15.1. Cycle concept, reasons, types .. 98
15.2. The effect of the accelerator. 99.
15.3. Stabilization policy. 100
World economy. 102.
16. International aspects of economic development. 102.
16.1. International economy. Theory of comparative advantages. 102.
16.2. Theory of Hekscher Olin. 103.
16.3. Tools of trading policy. 104.
16.4. International capital migration and labor resources. 105.
16.5. Payment balance. 106.
References .. 108
Introduction
The central place in the study guide occupies an analysis of the general patterns of functioning of the modern market mechanism.
The training manual consists of three sections that use the following status logic.
In the first section, "microeconomics" considers the subject and method of economic theory, general patterns economic organization Societies, the problems of choice in various business systems, as well as at the level of a separate consumer and firm, the mechanisms of the market of perfect and imperfect competition, market factors, benefits and disadvantages of the market mechanism are considered.
The second section "Macroeconomics" considers the national economy as a whole, the role of the state in the economy, analyzes the problems of macroeconomic equilibrium. The role of the monetary and financial system in the modern economy is also considered.
The third section of the "World Economy" presents international aspects of economic theory, tools of foreign trade policy, payment balance of the state.
This training manual can be used for students and graduate students of all forms of training.
MICROECONOMICS
Choice in the economy
As already mentioned, the limited resources determines the alternative to their use.
Consider an example. Suppose it is necessary to produce 2 products: rockets and grains (i.e., a civil and military alternative). For example, all resources of society are aimed at production of missiles, maximum 4 pcs. An alternative to this is a maximum of 15 million tons of grain. However, if society reduces the production of rockets, it will be able to have grain. The values \u200b\u200bof alternative features are shown in Table 2.1:
Table 2.1
We will illustrate this on the schedule - a graph of production capabilities (transformation curve), where horizontally - the number of missiles, vertically - grain. By connecting the points, we obtain the curve (line) of production capabilities (CPV, LPV) (Fig. 2.1).
Fig. 2.1 Curve production opportunities
The curve shows the meaning of alternatives for society, economic meaning is that the fulfillment economy is always alternative (i.e., it should choose, for example, between civil and military production by redistributing resources).
With the absolute use of all resources, i.e. In the economy of complete employment, all points of possible combinations of production are on the curve, with incomplete loading of production capacity - points inside the curve (for example, point E), these points show that when using additional resources, it is also possible to enlarge.
Moving the curve is higher, i.e. Points outside the curve (for example, point g) can be carried out as a result of technological discoveries, developing new deposits, scientific breakthroughs.
Alternative costs
The form of graphics of production capabilities shows a kind of price of some goods, expressed in the alternative number of others. The price does not have to be expressed in money. Her understanding is associated with the concept alternative expenses(Alternative value, Opportunity Cost - the cost of missed capabilities). In this example, the price of the rocket is expressed in the amount of grain, from which it is necessary to refuse. In market economy, the price always reflects alternative costs, it can be expressed both in goods and in money or the amount of time (for example, there was 2 hours in line for free food).
Calculate alternative production costs in our example:
to produce 1 rocket you need to abandon 1 million tons of grain;
1 more rocket - already from 2 million tons of grain,
and at the end already from 4 million tons of grain.
Thus, for each additional rocket, society must pay an increasing price in the form of an unproved grain (there will also be the opposite, if you refuse rockets).
Law of increasing costs: With an increase in the volume of one commodity group, an increase in costs per unit of goods expressed in another commodity group (an increase in alternative costs) is inevitable.
Thus, the curve of production opportunities reflects 4 main ideas:
The limitations of resources implies that all combinations of release, located on the outside - are not feasible;
The possibility of choice finds an expression that society must be selected from different achievable combinations located on (inside) curve;
The descent of the curve implies the concept of alternative costs;
The curve of the curve shows an increase in impregnated costs and, therefore, a decrease in yield.
Property rights
The modern direction of economic theory is neo-propitismalism - (R.KOZ) - pays great attention to the category "Property".
1) not the concept of "property", but " ownership" Those. not the resource in itself is property, and bunch or share of rights on the use of the resource.
The full bunch of rights consists of 11 elements:
1. The right of ownership, i.e. The right of exceptional physical control over the goods;
2. The right to use, i.e. the right to apply the beneficial properties of the good for yourself;
3. The right to control is the right to decide who and how to ensure the use of goods;
4. The right to income - the right to possess the results from use;
5. The right sovereign is the right to alienation, consumption, change or destruction of the good;
6. Security right - the right to defense against the expropriation of goods and from harm from the external environment;
7. The right to transfer benefits inheritance;
8. The right to the indefiniteness of possession of the Bent;
10. The right to liability in the form of recovery, i.e. the possibility of the recovery of good to pay the debt;
11. The right to residual character, i.e. The right to the existence of procedures and institutions ensuring the restoration of violated legal.
2) the ownership phenomenon is derived from the problem of relative rarity resources (without the prerequisite of rarity there is no point in talking about the property).
Economic content of property:
If we dismember the economic relationship, then there are two elements: the subject (owner) and some property (the car is mine). However, in this case, not only a direct statement (to whom it belongs), but also indirectly contains the dedication of the ownership of others. Consequently, the economic attitude of the property seems to be in the form of formula: subject (Owner) - Property - Other Subjects.
Property is economically implemented if its owner brings income. The whole system of relationships creates interests in people (material, property), and it can cause conflicts with the interests of the whole society. The state and the right are designed to prevent such contradictions.
Theorem Kowuza: If property rights are clearly defined and prescribed if people agree to firmly adhere to the results of a voluntary exchange, then no external effects arise.
External effects - Situations where part of the benefits or costs from producers (or consumers) proceeds to third parties (for example, environmental pollution).
Forms of ownership:
Private (individual, collective);
State (public) - municipal, federal, subjects of the federation;
Mixed.
Consumer behavior
Production costs
Types of costs
Under production in modern economic science It is customary to understand any activity of members of the Society for the Use of Natural Resources. Human resources are included in natural resources. The purpose of the production activity is to create a separate member of society and society in general material and intangible benefits.
The main motive of any company is the maximization of profits, the real possibilities for achieving this goal are limited by the demand for products and costs.
Highlight costs:
- external- Firm pays for workers' work, fuel, components, i.e. All that it does not produce herself to create this product;
- internal - The owner of his own enterprise does not pay the salary itself, does not receive rental for the building, in which the company is located if the cash is investing in trade, it does not receive interest (which could be in the bank). But he gets a "normal" profit, otherwise he will not deal with this business. "Normal" profit is an element of costs;
- alternativecosts;
- transaction.
Pure (Economic) Profit \u003d revenue - external - internal costs (including normal profits)
Accounting profit \u003d revenue - external costs
Also, the costs are divided depending on the volume of production:
- permanent (FC) - these are the costs that remain unchanged, whatever the amount of production manufactured (rental fees, depreciation, payment of management personnel) (Fig. 8.1)
Fig. 8.1. Schedule of permanent costs
- variables Costs (VC) - change in direct dependence on the volume of production, are associated with the cost of the purchase of raw materials and labor. They start from scratch, grow rapidly, then begins to influence the savings on the scale (slow down), and then the law of decreasing performance (again grow rapidly) (Fig. 8.2)
Fig. 8.2. Schedule of variable costs
- gross(TC) is the sum of constant and variable costs at each specific production level (Fig. 8.3)
Fig. 8.3. Schedule of permanent, variables and total costs
- medium cost (AC) - cost per unit of production: AC \u003d TC / Q (Similarly, medium variables and constant). Such costs the entrepreneur seeks to minimize.
The curve is usually U-shaped, first they are high (because large constant, and the volume of production is small), then fall, and then again up (because high variable costs).
There are three possible options for the company on the market (Fig. 8.4):
Fig. 8.4. Possible options for the enterprise in the market
a) - the price line concerns the Curve AS is a limit firm, it is able to cover only minimal average costs. The touch point is the point of zero profit (at that moment there is only normal profits as a normal return on capital, it refers to Fc)
b) - average costs below the price - the company receives profit more than normal
c) - medium costs above the price - the company suffers losses and goes out if it does not leave the market
Thus, the dynamics of medium costs characterizes the position of the company in the market, but the manufacturer is not interested in a profit per unit of production, but a maximum of the total mass of the resulting profit, therefore allocate
- limit costs(MS) - additional costs associated with the production of an additional unit of products (in the absence of production they coincide with FC). MS \u003d TC N -TC N -1 or MS \u003d
At the same time, the production of an additional product unit, generating additional costs, brings and additional income. The magnitude of this extra. income - limit revenue: Mr \u003d TR N -Tr n -1.
In conditions of free competition, the manufacturer cannot affect the price level and, therefore, will sell any amount of soy products at the same price, i.e. Mr \u003d p.
Obviously, the firm will expand the volume of production until MS be less than MR, if on the contrary - losses (Fig. 8.5.)
Fig. 8.5. Equilibrium firm in the market of perfect competition
Thus, the condition is the equilibrium of the company: MS \u003d MR \u003d P
With imperfect competition: MC \u003d MR
Compatible cost-known costs on the general chart (Fig. 8.6):
Fig. 8.6. General chart of costs
Permanent costs per unit of production (AFC) as the production extension is increasing, because Their absolute value is unchanged.
The AVC curve at the first stage shows a decrease in specific cost variables: the effect of scale is affected, increase production. But then AVC is beginning to grow: over the effect of scale takes the top of the law of decreasing return.
The curve of aggregate costs (PBX) falls faster than each of its components (AVC and AFC).
For the activities of the firm decisive turn out the following points:
1. While MS is less PBX, there is a decrease in the total average costs (PBX).
2. At the point B, where MS and PBX intersect, there is a minimum of average costs (PBX).
3. The right point of the specific gross costs (PBX) begin to grow, therefore at the point B, the market price is equal to the average gross costs (P \u003d PBX) is a break-even point, i.e. Critical volume of production.
4. When the market price falls below the point b enterprises will begin to leave the industry (or production).
5. Significantly worse than the position of the company at point A, where the sale price is equal to specific variable costs (P \u003d AVC). In this case, the sale of products does not allow compensate all costs for its production. Production must be terminated, the option of bankruptcy is not excluded.
Market factors production
In order to start production, you need at least the presence of who will produce and from what will produce. Therefore, by and large, you can talk about two factors of production - man and nature. But in economic science, 4 factors usually allocate. Prices for production factors in the conditions of perfect competition are determined by the relationship between supply and demand. All factors are technologically and economically interrelated and cannot be used separately, and the demand for them is always derived from consumer demand, because They are necessary for the manufacture of goods.
Production function
In the case of a particular production of the entrepreneur always interests the question of which will be the yield of products, if a given number of production factors is involved in the production process.
For example, we have land and work, make up various combinations and corresponding to them the maximum output of products (Table 9.1):
Table 9.1.
This table is the simplest example. production function - technical ratio, reflecting the relationship between the cumulative costs of production factors and the maximum release of products.
Y \u003d f (a 1, a 2 ... .a n). It shows the existence of alternative capabilities in which a different combination of production factors provides the same amount of production (1000 - in the table)
In any conditions, the company tends to equilibrium. The economic entity constantly compares its limit income and limit costs. Moreover, Mr is a limit product in monetary terms (MRP \u003d MR * P), and MS is a salary that an entrepreneur pays. Consequently, equilibrium: MRP \u003d W.
In the conditions of perfect competition W \u003d limit costs for the purchase of a resource (MRC). Consequently, MRP \u003d MRC.
Example: There is only a work factor (Table 9.2)
Table 9.2.
From the table it is clear that the additional amount of products with an increase in the number of workers is reduced. This extra. Product - farm product This factor of production (with the unchanged number of other factors).
Suppose that the price of a unit of manufactured products \u003d 2, and the established level of salary \u003d 600. Then in the conditions of perfect competition only when hiring the 4th employee will be observed the rule MRP \u003d W (300 * 2 \u003d 600). The concept of the limit product helps solve the problem minimization of production costsWhen two factors are variable (and labor, and capital). To do this, it is necessary to compare the physical volume of the limiting product of labor with the work of labor, and the physical volume of the maximum product of capital with the price of capital:
We give an example of a graphic image of the production function and the law of replacement of factors of production.
Suppose that 100 units of some products can be produced using various retirement and capital relationships, when the working salary \u003d 2 and the cost of the capital unit \u003d 3. We write down all known data in Table 9.3:
Table 9.3.
Any combination of production factors provides the same physical volume of products. But what a combination will be the cheapest? Given the data, we will construct an equal product curve - isokvante(indifference curve). And on the same schedule, we construct a line of equal costs in which the cost of production factors will be equal - isokost (budget lines).
By combining isochvants and isokosts, you can determine the optimal position of the company. The point in which isochvanta concerns (but does not intersect) isokosti, means the cheapest at cost a combination of factors necessary for the release of a certain amount of product (Fig. 9.6).
Fig. 9.6. Optimal position firm
At the point of touch, the isokosti and isochvants production costs will be minimal.
In our example, at p of capital \u003d 3 and p of labor \u003d 2, the optimal combination will be 2 K and 3 l, costs \u003d 12 (2 * 3 + 3 * 2). Any other combination will cost more.
But the entrepreneur is worried not only the issue of minimizing costs, but also maximizing profits.
Maximum profit firm receives if such a number of workers involves in production, which ensures the equality of MRP (Labor) and W (labor price), we denote this value. The same principle persists when involving additional capital units into the production, i.e. MRP (CAPITAL) \u003d R K. So maximum profits will be provided provided:
=1
In this equation, the following regularity is expressed: income from the limit product obtained by the additional investment of any factor of production should be equal to the market price of this factor.
Compliance with this rule suggests that production is carried out efficiently, and there are no losses in the use of factors of production.
MACROECONOMICS
What is learning macroeconomics
Macroeconomics - One of the two main sections of economic theory, studying cumulative, or aggregated values, cumulative demand, cumulative proposal, employment, general price level, inflation, balance of payments, etc.
A special role is to study the role of the state and methods of state regulation of internal and foreign economic areas, also explores the problems of state regulation failures.
Main subjects Market economy studied in Macroeconomics:
Households;
State;
Zagred (in an open economy).
Between them circulate income and expenses. At the same time, the income of some subjects of the economy are expenses (costs) of others. Simplified circuit circuit of income and expenses in the economy Presented in the diagram (Fig. 10.1):
Fig. 10.1. Circulation of income and expenses in national economy
Households buying consumer goods on the market of goods, thereby carrying out their expenses. These costs for firms producing benefits are income.
At the same time, the firms that acquire labor services, capital and land in the market factors of production are carrying expenses that for suppliers of these services, i.e. Households are income (salary, interest payments, rent)
The state on the one hand receives income in the form of taxes, which pay him firms and households. On the other hand, the state exercises the costs when households are paying social transfers and purchases products from companies (for example, army arms).
If we take into account abroad, then the import of goods will appear as expenses of domestic economic entities, and export revenues are the revenues of these subjects. On the financial markets There are savings from households that are transformed into investments - borrowed funds received by firms in the financial market.
Ideally, the amount of income of firms and households should be equal to the amount of costs of firms and households.
In the flow of circuit of income and expenses there are so-called injections and leaks (seizures).
Injection - These are the costs carried out in addition to the expenditures of domestic consumers for the purchase of products produced within the country:
Investments (domestic and foreign) (I);
Government spending (G);
Expenses of foreign consumers for the purchase of domestic exported goods (EX);
Leakage - seizures from the circuit of income and expenses arising in connection with the spending money For other purposes, rather than buying consumer goods and services produced within the country:
Savings (s);
Taxes (T);
Expenses for the purchase of imported goods and services (IM).
Multiplier
Multiplicatep - "Multiplier". Essence multiplier effect: With an increase in any of the components of autonomous expenses (autonomous consumption costs, autonomous investments, government spending and net exports) increases the national income of society, and the value is greater than the initial increase in costs.
An example of a multiplication effect: let's say the initial volume of autonomous investment on the construction of a new bridge - 1000. All owners of production factors that provided resources for construction will receive their income:
Workers on part Earnings will buy, for example, televisions. Another part is saved;
Part of its TV manufacturers will spend, for example, to buy cars. Another will be saved.
Thus, a chain reaction occurs, the process will capture new and new layers of the population, i.e. 1000 must be multiplied by some coefficient to learn the growth of aggregate demand (geometric progression):
(if MRC \u003d 0.75, then the investment in 1000 will cause a fourfold growth of national income)
multiplier M \u003d 1 / (1-MRC) or 1 / MPS
The higher the tendency to consume (and lower to the savings), the greater the multiplier and the greater increase in national income will accompany the initial increase in investment. So the multiplier can be defined as the ratio of change of income to change any of the components of autonomous expenses:
The initial push, which is given to investments, can be carried out both the private sector and the state. The multiplier effect can act in the direction of lowering the income, if any component of autonomous expenses is reduced.
It is also important that the effect can manifest itself only in the conditions of the economy of incomplete employment.
Monetary system
Money-credit policy
The state monetary policy is traditionally considered as the most important direction of state regulation of the economy.
The highest goal of this policy is to ensure the stability of prices, efficient employment, the growth of the real volume of GNP.
Regulation tools cash circulation (money suggestions):
Operations on the open market - purchase or sale on the open market of government securities. If the money market is observed in the money market, the Central Bank offers state securities - bank reserves are reduced, the offer of money decreases, and vice versa. Similarly, currency operations are made.
Accounting policy (refinancing rates).
The refinancing rate is the percentage under which the Central Bank provides loans to commercial banks, speaking as a lender in the last instance. It is installed by the Central Bank.
The accounting rate is a percentage or discount in which the Central Bank takes into account (buys) bank bills, which is equivalent to lending to commercial banks.
If the bet drops, commercial banks They seek to get a loan, their reserves increase, causing a multiplication increase in the amount of money in circulation (and vice versa).
Changing the norm of mandatory reserves (there is a multiplier action):
If the Central Bank increases the rate of mandatory reserves, this leads to a reduction in bank reserves and to reduce money supply (and vice versa) .0
The essence and function of finance
Finance- This is a system of economic relations that arise between the state, legal entities and individuals, between individual states on the formation, distribution and use of funds funds. That is, cash relations, the implementation of which occurs through special funds is financial relations.
The essence of finance is manifested in their functions:
Distribution - is to ensure business entities with the necessary financial resources, which are used in the form of target funds (taxes);
Control - Finance have a property to quantitatively display the reproductive process as a whole and the various phases of its phases, it allows you to systematically monitor the economic proportions that develop in society;
Stimulating - maneuvering tax rates, benefits and fines, the state creates conditions for the accelerated development of certain industries and industries, contributes to solving relevant problems for society (stimulates NTP, an increase in the number of jobs, capital investments, development of education, etc.);
Fiscal - With the help of taxes, the seizure of incomes of enterprises and citizens is achieved to maintain the state apparatus, the defense of the country and the part of the non-production sphere, which does not have any income at all, or has not enough income to ensure its development (fundamental science, theaters, museums).
The combination of financial relations of the national economy forms financial system states. It consists of:
- centralized finance - This is a state budget system, state Creditspecial extrabudgetary funds, Property and Personal Insurance Funds. They are used to regulate the economy as a whole, solving a number of essential economic and social tasks;
- decentralized finances - Finance of firms and enterprises of various forms of ownership. This is a financial relationship between legal entities, legal entities and state, legal entities and individuals. The general financial situation of the country largely depends on the state of these finances, they serve the production, with their participation, the GNP is created, distributed within the firms and sectors of the national economy;
- finance households - These are personal finances, i.e. Financial relations between individuals together living and leading general farming. They are the material basis of their life, because Suppose control over the upcoming income and expenses within a separate family.
Special role Play budgets of regions (districts) - municipal finances.
Principle of construction state financecharacteristic of financial Systems Modern developed countries, is an fiscal federalismwherein a clear distinction between the functions between different levels of the system is carried out: in unitary states - local budgets Do not enter B. the state budget; In federal - local budgets are not included in the budgets of the Federation members, and they, in turn, are not included in the state federal budget.
Taxes and Tax Policy
Taxes- Mandatory payments levied by the state with legal and individuals Based on special tax legislation. Taxes express the responsibility of these persons to participate in the formation of financial resources of the state.
Tax policy performs the following functions: Regulating, stimulating, distribution and fiscal.
TO elements of taxes relate:
The subject of the tax is a person who according to the law is obliged to pay tax
The tax carrier is a person who actually pays tax
Tax object - income or property with which tax is charged
Tax Bet - Value tax accruals per unit object of tax ( currency unit income, land area). Distinguish:
Solid bets - installed in an absolute amount per unit, regardless of the amount of income (for example, by tonne oil)
Proportional - act in the same percentage to the object of tax excluding the differentiation of its magnitude
Progressive - increasing rates as income grow
Regressive - decrease in the rate of raising of income growth
Types of taxes:
1. According to the payment method distinguish:
Direct Taxes - payments to the subjects of the tax directly and directly proportional to solvency (income, to the ground, on operations with securities)
Indirect - the subject of the tax and its carrier usually do not coincide, charged through the allowance to the price and are taxes on consumers (excise taxes, VAT, customs duties)
2. Taxes on their use are divided into:
General - the state budget to finance publication
: K2GT; Many subjects are studied at different levels. Take, for example, bio-VRVXJ. Biologists specializing in molecular theory are studying chemicals: MPonents from which living beings consist. Biologists specializing in-.-- waste theory study cells that consist of a variety of chemical elec - ez and at the same time are component parts living organisms. Biologists, -G. Lizcilizing on the theory of evolution, explorations of animals and classes growing - - | and :. (x change over the centuries and millennia.
Fig. 2.3.
Shift the boundaries of production opportunities The use of advanced technologies in the production of computers shifts the border of production capabilities outside, the number of cars and computers produced and computers.
produced
cars
Similarly, the economy is studied at various levels. We can analyze the decision-making process by individual households and firms, investigate the interaction of households and firms in the markets of goods and services or consider the functioning of the economy as a whole, that is, the amount of actions of all decision makers in all markets.
Microeconomics -
study of decision-making processes by households and firms and their interaction in the market.
Macroeconomics -
study of the economy as a whole, including inflation, unemployment and economic growth.
Economic theory is traditionally divided into microeconomics - the study of decision-making processes by households and firms and their interaction in the market and macroeconomics - the study of the economy as a whole. Economists specializing in the study of microeconomics can engage in research on the influence of rent level on the cost of housing in New York, the impact of competition from foreign manufacturers on the automotive industry in the United States or the relationship between the level of education of workers and wages. Macroeconomic specialists investigate the implications for the national economy of federal government loans, changes in unemployment and long-term employment prospects or offer alternative programs aimed at raising the standard of living of the population.
Microeconomics and macroeconomics are closely intertwined. Changes in the economy as a whole occur due to decisions of millions of individuals, and therefore, an understanding of general economic trends implies consideration of the processes of their adoption on the microeconomic level. For example, on the macroeconomic level, the impact of a decrease is studied federal tax on the level of income producers of goods and services. To analyze this situation, the economist researcher considers how the reduction in tax rate affects household solutions about the value of goods and services.
However, the presence of an undoubted relationship between microeconomics and macroeconomics does not cancel the significant differences in these industries of science. Some economists believe that the study of economic theory, as well as biology, should begin with the analysis of its simple elements, after which they should move towards the analysis of their interaction, the consideration of the economy as a whole. However, this method of research is not always justified. In this sense, biology that studies the evolution of life is based on molecular biology, similar to the animals and plants consist of molecules. However, evolutionary and molecular biology are different fields of science, each of which considers specific issues using special methods of knowledge. Similarly, microeconomics and macroeconomics have specific research subjects, they are based on different approaches, methods, theories and often teach them as separate courses.
Check yourself what unites economic theory with other sciences? Give the definition of microeconomics and macroeconomics.
Two levels of analysis are used in modern economic theory: macroeconomic and microeconomic. Macroeconomics and microeconomics are interrelated sections of the economy (as science), studying the relevant processes in the economy (as economy). As follows from the names of these sections, they differ in the scale of the economic processes under study, this is primarily manifested in the amount and level of the economic entities presented at these levels of analysis. Same economic questions Macroeconomics can be considered in microeconomics, but their research will be different. At the same time, sustainable complexes of economic issues studied are characterized for each level of economic analysis.
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Macroeconomics (from gr. markos. - Long, big) |
Microeconomics (from gr. mikroS. - Small) |
| This is a science of the farm as a whole, about the economy of the state and even the global economy. | This is a science of consumers (households) and manufacturers, about individual sectors of the economy. |
| There are three subjects: firm, household and state. | Two subjects operate: firm and household. |
| Exploring the issues of the macroeconomic level: the rate of economic growth, indicators of GDP, the change in the well-being of the population, the level of inflation, the level of unemployment, etc. - what characterizes national and international economic phenomena. | Exploring the issues of microeconomic level: the choice of consumer products, the company's business plan, family budget planning - causal and functional connections that affect adoption economic decisions both individuals and firms. |
| She strives more than stability. | She strives more than dynamics, growth. |
| Obeys the principle of social effect. The state economic policy is closely related to social policy. | Obeys the principle of market feasibility. Manufacturers are striving for maximum profit extraction and do not solve emerging social problems. |
Accounting differences between macro- and microeconomics helps to build mechanisms for regulating macro and microeconomic processes.
Question:
Install the correspondence between the levels of economic analysis and the indicators of economic development: to each position given in the first column, select the appropriate position from the second column. Write down the resulting sequence of numbers.
Ragnar Frish (1895-1973) - Norwegian economist, Nobel Prize laureate (1969).
He defended his doctoral dissertation at the University of Oslo, Professor of the Social Economy and Statistics, Director of the Institute of Social Economy at the University of Oslo.
The laureate of the Nobel Prize "For the creation and application of dynamic models to the analysis of economic processes." Winner of the Shumpeter Prize, Antonio Fuxhrinelli Prize. Member of the Norwegian Academy of Sciences, British Royal Statistical Society, American Economic Association and the American Academy of Sciences and Arts.
President of Econometric Society (1949). In honor of him, Econometric Society since 1978 awarded the Medal of Frisha.
