第一节证券概述 第二节债券 第三节股票 第四节投资基金 第五节衍生工具

第一节证券与证券投资 第三节证券投资的动机与原则 第三节证券投资过程 第四节证券交易的基本方式

Solow growth model 1. Production function(total; per capita) 2. Savings investment schedule 3. Depreciation 4. Steady state 5. Golden rule 6. Path from one steady state to the Golden Rule steady state

Introduction What are the three big problems macroeconomics studies? GDP -- Calculation: intermediate inventories;used;GNP Real v.s. Nominal (deflator; CPD) Okun'sLaw

Government Debt 1. Is budget deficit correctly measured? （1)Inflation （2)Capital Assets （ 3)Uncounted liabilities （ 4) Business cycle

Questions from Last Lecture Demand for money↑ =)=l ,Y) ↑ while fixed →l(r,y: hold& to balance the pressure ofd↑; hold,↑ to balance

The money market LM curve The theory of liquidity preference

How the sr and lr differ In the Lr, prices are flexible and can respond to changes in S or D. In the Sr many prices are stuck at some predetermined level In the sr, monetary policy does have a potent effect on output and employment

Goal Develop the Solow Growth Model How much of the economy's output should be consumed today and how much should be saved for the future? Static analysis(Ch. 3)> Dynamic

Definition Inflation The overall increase in prices Hyperinflation: extraordinary high inflation