U.S. average actual GDP from 1900 to2000 Real GDP per person First oil price shock (1996 dollars) World Great World Korean Vietnam /Second oil price shock 35000 War/ Depression War l War War 30000 20.000 10.000 5.000 3.000 19001910192019301940195019601970198019902000 Year 友学经济学院
U.S. average actual GDP from 1900 to 2000
1.1 Objectives and Scopes of Macroeconomics Content TWo: Business Cycle o Different characteristics of business cycles o Various explanations of periodic fluctuation 友学经济学院
1.1 Objectives and Scopes of Macroeconomics Content Two： Business Cycle Different characteristics of business cycles Various explanations of periodic fluctuation
1.1 Objectives and Scopes of Macroeconomics Content Three: Unemployment ⊙ Basic concepts Those who have the working ability and look for works but can not get them o Measurement Unemployment populace is divided by total labors 友学经济学院
1.1 Objectives and Scopes of Macroeconomics Content Three： Unemployment Basic concepts ❖ Those who have the working ability and look for works but can not get them Measurement ❖ Unemployment populace is divided by total labors
Americans unemployment ratio from 1900to2000 Percent unemployed World Great World Korean Vietnam irst oil price shock War/ Depression War 1/ Wa W Second oil price shock 15 9001910192019301940195019601970198019902000 Ye eal 友学经济学院
Americans’ unemployment ratio from 1900 to 2000
1.1 Objectives and Scopes of Macroeconomics Content Four: Inflation ⊙ Basic concepts e Prices of most commodities and services keep increasing during certain time in one economy o Reasons Issued too many currencies, overmuch demands for investment and consumption, increase of cost such as Wages 友学经济学院
1.1 Objectives and Scopes of Macroeconomics Content Four：Inflation Basic concepts ❖ Prices of most commodities and services keep increasing during certain time in one economy. Reasons ❖ Issued too many currencies、overmuch demands for investment and consumption、increase of cost such as wages