TAILIEUCHUNG - Knowledge macroeconomics (Second edition): Part 2

(BQ) Continued part 1, the document Knowledge macroeconomics (Second edition): Part 2 has contents: Business cycles, fiscal policy in the short run, monetary policy in the short run, aggregate demand, aggregate supply, and monetary policy, fiscal policy and the government budget in the long run,. and other contents. Invite you to refer. | CHAPTER 9 Business Cycles Learning Objectives After studying this chapter you should be able to Explain the difference between the short run and the long run in macroeconomics pages 296-301 Explain how economists think about business cycles pages 315-319 Understand what happens during a business cycle pages 301-315 Use the aggregate demand and aggregate supply model to explain the business cycle pages 319-324 9A Appendix Derive the formula for the expendi- ture multiplier page 331 Is the Housing Cycle the Business Cycle You have lived through the worst economic recession the United States is likely to experience in your lifetime the recession of 2007-2009. It was easily the worst recession since the Great Depression of the 1930s. What caused the recession The simple answer is that it was caused by the bursting of an epic housing bubble. During the bubble new houses were built at a record pace in many parts of the country. The prices of new and existing houses soared. With the bursting of the bubble spending on new housing collapsed. This collapse in spending brought on a financial crisis that affected the entire economy. The recession of 2007-2009 was particularly bad but it was not unusual in being caused by a decline in spending on new houses. In fact economist Edward Leamer of the University of California at Los Angeles argues that fluctuations in spending on new residential housing are the main reason the . economy experiences a business cycle. Not all economists agree with Leamer that Housing Is the Business Cycle as he titled one of his articles but economists do agree that spending on housing plays an important role in business cycles. Housing is also a key focus of the Federal Reserve s attempts to use monetary policy to stabilize the economy. The importance of housing may not seem surprising. Clearly houses are expensive the largest purchase you are ever likely to make will be a house. But even at the peak of the .

• Quản trị kinh doanh
• Management science
• Business cycles
• Fiscal policy
• The short run
• Monetary policy
• Aggregate demand
• Aggregate supply
• Management science with spreadsheets
• Deterministic decision models
• Probabilistic decision models
• Applications of management science
• Excel spreadsheets
• Management thought
• Evolution of management thought
• Ideas in management
• Management theory
• Systems in management
• Production management
• Forecasting process
• Qualitative forecasts
• Linear programming
• Graphical solution
• Marketing applications
• Simplex method
• Sensitivity analysis
• Transportation method
• Solving transportation problems
• Integer programming
• Integer programming problems
• Solving integer programming
• Nonlinear programming
• Network optimization models
• Differential arithmetic
• Multicriteria decision
• Making models
• Decision theory
• Decision making
• Waiting line models
• Poisson distribution
• Fixed Interval simulations
• Discrete simulations
• An introduction to management science
• Advanced linear programming applications
• Integer linear programming
• Markov processes
• Nonlinear optimization models
• Inventory models
• Decision analysis