经济学英文论文

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经济学英文论文Macroeconomicsisasub-fieldofeconomicsthatexaminesthebehavioroftheeconomyasawhole,oncealloftheindividualeconomicdecisionsofcompaniesandindustrieshavebeensummed.Economy-widephenomenaconsideredbymacroeconomicsincludeGrossDomesticProduct(GDP)andhowitisaffectedbychangesinunemployment,nationalincome,rateofgrowth,andpricelevels.Incontrast,microeconomicsisthestudyoftheeconomicbehaviouranddecision-makingofindividualconsumers,firms,andindustries.Macroeconomicscanbeusedtoanalyzehowtoinfluencegovernmentpolicygoalssuchaseconomicgrowth,pricestability,fullemploymentandtheattainmentofasustainablebalanceofpayments.Macroeconomicsissometimesusedtorefertoageneralapproachtoeconomicreasoning,whichincludeslongtermstrategiesandrationalexpectationsinaggregatebehavior.Untilthe1930smosteconomicanalysisdidnotseparateoutindividualeconomicsbehaviorfromaggregatebehavior.WiththeGreatDepressionofthe1930s,sufferedthroughoutthedevelopedworldatthetime,andthedevelopmentoftheconceptofnationalincomeandproductstatistics,thefieldofmacroeconomicsbegantoexpand.ParticularlyinfluentialweretheideasofJohnMaynardKeynes,whoformulatedtheoriestotrytoexplaintheGreatDepression.Beforethattime,comprehensivenationalaccounts,asweknowthemtoday,didnotexist.Oneofthechallengesofeconomicshasbeenastruggletoreconcilemacroeconomicandmicroeconomicmodels.Startinginthe1950s,macroeconomistsdevelopedmicro-basedmodelsofmacroeconomicbehavior(suchastheconsumptionfunction).DutcheconomistJanTinbergendevelopedthefirstcomprehensivenationalmacroeconomicmodel,whichhefirstbuiltfortheNetherlandsandlaterappliedtotheUnitedStatesandtheUnitedKingdomafterWorldWarII.Thefirstglobalmacroeconomicmodel,WhartonEconometricForecastingAssociatesLINKproject,wasinitiatedbyLawrenceKleinandwasmentionedinhiscitationfortheNobelMemorialPrizeinEconomicsin1980.TheoristssuchasRobertLucasJrsuggested(inthe1970s)thatatleastsometraditionalKeynesian(afterBritisheconomistJohnMaynardKeynes)macroeconomicmodelswerequestionableastheywerenotderivedfromassumptionsaboutindividualbehavior,althoughitwasnotclearwhetherthefailureswereinmicroeconomicassumptionsorinmacroeconomicmodels.However,NewKeynesianmacroeconomicshasgenerallypresentedmicroeconomicmodelstoshoreuptheirmacroeconomictheorizing,andsomeKeynesianshavecontestedtheideathatmicroeconomicfoundationsareessential,ifthemodelisanalyticallyuseful.Ananalogymightbethatthefactthatquantumphisicsisnotfullyconsistentwithrelativitytheorydoesntmeanthatrealtivityisfalse.Manyimportantmicroeconomicassumptionshaveneverbeenproved,andsomehaveprovedwrong.Thevariousschoolsofthoughtarenotalwaysindirectcompetitionwithoneanother-eventhoughtheysometimesreachdifferingconclusions.Macroeconomicsisaneverevolvingareaofresearch.Thegoalofeconomicresearchisnottoberight,butrathertobeaccurate.Itislikelythatnoneofthecurrentschoolsofeconomicthoughtperfectlycapturetheworkingsoftheeconomy.Theydo,however,eachcontributeasmallpieceoftheoverallpuzzle.Asonelearnsmoreabouteachschoolofthought,itispossibletocombineaspectsofeachinordertoreachaninformedsynthesis.Thetraditionaldistinctionisbetweentwodifferentapproachestoeconomics:Keynesianeconomics,focusingondemand;andsupply-side(orneo-classical)economics,focusingonsupply.Neitherviewistypicallyendorsedtothecompleteexclusionoftheother,butmostschoolsdotendclearlytoemphasizeoneortheotherasatheoreticalfoundation.Keynesianeconomicsfocusesonaggregatedemandtoexplainlevelsofunemploymentandthebusinesscycle.Thatis,businesscyclefluctuationsshouldbereducedthroughfiscalpolicy(thegovernmentspendsmoreorlessdependingonthesituation)andmonetarypolicy.EarlyKeynesianmacroeconomicswasactivist,callingforregularuseofpolicytostabilizethecapitalisteconomy,whilesomeKeynesianscalledfortheuseofincomespolicies.Supply-sideeconomicsdelineatesquiteclearlytherolesofmonetarypolicyandfiscalpolicy.Thefocusformonetarypolicyshouldbepurelyonthepriceofmoneyasdeterminedbythesupplyofmoneyandthedemandformoney.Itadvocatesamonetarypolicythatdirectlytargetsthevalueofmoneyanddoesnottargetinterestratesatall.Typicallythevalueofmoneyismeasuredbyreferencetogoldorsomeotherreference.Thefocusoffiscalpolicyistoraiserevenueforworthygovernmentinvestmentswithaclearrecognitionoftheimpactthattaxationhasondomestictrade.ItplacesheavyemphasisonSay'slaw,whichstatesthatrecessionsdonotoccurbecauseoffailureindemandorlackofmoney.Monetarism,ledbyMiltonFriedman,whichholdsthatinflationisalwaysandeverywhereamonetaryphenomenon.Itrejectsfiscalpolicybecauseitleadstocrowdingoutoftheprivatesector.Further,itdoesnotwishtocombatinflationordeflationbymeansofactivedemandmanagementasinKeynesianeconomics,butbymeansofmonetarypolicyrules,suchaskeepingtherateofgrowthofthemoneysupplyconstantovertime.NewKeynesianeconomics,whichdevelopedpartlyinresponsetonewclassicaleconomics,strivestoprovidemicroeconomicfoundationstoKeynesianeconomicsbyshowinghowimperfectmarketscanjustifydemandmanagement.Austrianeconomicsisalaissez-faireschoolofmacroeconomics.Itfocusesonthebusinesscyclethatarisesfromgovernmentorcentral-bankinterferencethatleadstodeviationsfromthena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