Pengantar Ekonomi Makro (Bagian Pertama)

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Pengantar Ekonomi Makro (Bagian Pertama)

  1. 1. Pengantar Ekonomi Makro Bagian Pertama Company LOGO Andri Wijanarko,SE,ME andri_wijanarko@yahoo.com
  2. 2. Definition of Economics Company LOGO
  3. 3. Definition of Economics #1Paul A. SamuelsonStudies how the prices of labor,capital, and land are set in theeconomy, and how these price areuse to allocate resources. 3
  4. 4. Definition of Economics #2Explores the behavior of the financialmarkets and analyzed how theyallocate capital to the rest of theeconomy 4
  5. 5. Definition of Economics #3Analyzes the consequences ofgovernment regulation on marketefficiency 5
  6. 6. Definition of Economics #4Examines the distribution of income,and suggest ways that the poor canbe helped without harming theperformance of economy 6
  7. 7. Definition of Economics #5Looks at the impact of governmentspending taxes, and budget deficits ongrowth 7
  8. 8. Definition of Economics #6Studies the upswings and downturnsin unemployment and production thatmake up the bussiness cycle, anddevelops government policies forimproving economic growth 8
  9. 9. Definition of Economics #7Examines the patterns of trade amongnations and analyzes the impact oftrade barrier 9
  10. 10. Definition of Economics #8Looks at growth in developingcountries, and proposes ways toencourage the efficient use ofresources 10
  11. 11. Definition of Economics - ConclusionEconomics is the study of howsocieties use scarse resources toproduce valuable commodities anddistribute them among different people 11
  12. 12. Definition of Economics - KeywordsKeywords of Economics :a) studyb) societies use scarse resourcesc) produce valuable commoditiesd) distributee) different people 12
  13. 13. Exponent of Modern Economics Company LOGO
  14. 14. Exponent of Modern Economics #1Adam SmithAn Inquiry into the Natures andCauses of the Wealth of Nations(1776) 14
  15. 15. Exponent of Modern Economics #2 Adam Smith • How individual prices are set • How prices of land, labor and capital are set • Inquired into the strengths and weakness of the market mechanism Founder of Microeconomics 15
  16. 16. Exponent of Modern Economics #3John Maynard KeynesGeneral Theory of Employment,Interest and Money (1936) 16
  17. 17. Exponent of Modern Economics #4 Keynes • Theory of what causes unemployment and economic downturns. • How Investment and consumption are determined • How central bank manage money and interest rates • Why some nations thrive while others stagnate 17
  18. 18. Great Depression 1930s Company LOGO
  19. 19. Great Depression #1 It was the longest, most widespread, and deepest depression of the 20th century.In the 21st century, the GreatDepression is commonly used as anexample of how far the worldseconomy can decline 19
  20. 20. Great Depression #2The Great Depressionhad devastating effectsin virtually everycountry, rich and poor.Personal income taxrevenue, profits andprices dropped, whileinternational tradeplunged by more than50%.Unemployment in theU.S. rose to 25%, andin some countries roseas high as 33% 20
  21. 21. Great Depression #3The depression originated in the U.S., starting with the fall in stock prices thatbegan around September 4, 1929 and became worldwide news with the stockmarket crash of October 29, 1929 (known as Black Tuesday). From there, itquickly spread to almost every country in the world. 21
  22. 22. Great Depression #4 22
  23. 23. Great Depression #5 23
  24. 24. Great Depression #6 24
  25. 25. Root of Macroeconomics Company LOGO
  26. 26. Root of Macroeconomics #1 Microeconomics examines the behavior of individual decision-making units—business firms and households. Macroeconomics deals with the economy as a whole; it examines the behavior of economic aggregates such as aggregate income, consumption, investment, and the overall level of prices.  Aggregate behavior refers to the behavior of all households and firms together. 26
  27. 27. Root of Macroeconomics #1Microeconomics vs Macroeconomics 27
  28. 28. Root of Macroeconomics #2Macroeconomists often reflect on the microeconomic principles underlying macroeconomic analysis, or the microeconomic foundations of macroeconomics. 28
  29. 29. Root of Macroeconomics #3Classical economists applied microeconomic models, or “market clearing” models, to economy-wide problems.However, simple classical models failed to explain the prolonged existence of high unemployment during the Great Depression. This provided the impetus for the development of macroeconomics. 29
  30. 30. Root of Macroeconomics #4aThree of the major concerns of macroeconomics are: Inflation 30
  31. 31. Root of Macroeconomics #4bThree of the major concerns of macroeconomics are: Output Growth 31
  32. 32. Root of Macroeconomics #4cThree of the major concerns of macroeconomics are: Unemployment 32
  33. 33. Root of Macroeconomics #5Keynes believed governments could intervene in the economy and affect the level of output and employment.During periods of low private demand, the government can stimulate aggregate demand to lift the economy out of recession. 33
  34. 34. Root of Macroeconomics #6There are three kinds of policy that the government has used to influence the macroeconomy:  Fiscal policy  Monetary policy  Growth or supply-side policies 34
  35. 35. Root of Macroeconomics #7Fiscal policy refers to government policies concerning taxes and spending. 35
  36. 36. Root of Macroeconomics #8Monetary policy consists of tools used by the Federal Reserve to control the quantity of money in the economy. 36
  37. 37. Root of Macroeconomics #9Growth policies are government policies that focus on stimulating aggregate supply instead of aggregate demand. 37
  38. 38. Components of Macroeconomics Company LOGO
  39. 39. Components of Macroeconomics #1 39
  40. 40. Components of Macroeconomics #2Transfer payments are payments made by the government to people who do not supply goods, services, or labor in exchange for these payments. 40
  41. 41. Components of Macroeconomics #3Households, firms, the government, and the rest of the world all interact in three different market arenas: 1. Goods-and-services market 2. Labor market 3. Money (financial) market 41
  42. 42. Components of Macroeconomics #4 Households and the government purchase goods and services (demand) from firms in the goods-and services market, and firms supply to the goods and services market. In the labor market, firms and government purchase (demand) labor from households (supply).  The total supply of labor in the economy depends on the sum of decisions made by households. 42
  43. 43. Components of Macroeconomics #5In the money market—sometimes called the financial market—households purchase stocks and bonds from firms.  Households supply funds to this market in the expectation of earning income, and also demand (borrow) funds from this market.  Firms, government, and the rest of the world also engage in borrowing and lending, coordinated by financial institutions. 43
  44. 44. References :a) Economics (Samuelson & Nordhaus)b) Economics (Case, Fair)c) Teaching material adopted from Fernando & Yvone Quijano See you next time... 44

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