ECON1120 Macroeconomics - 统计代写答疑辅导

分类： ECON1120 Macroeconomics

经济代写|ECON1120 Macroeconomics

Posted on 2023年4月22日2023年4月22日 by statistics-lab

Statistics-lab™可以为您提供cornell.edu ECON1120 Macroeconomics宏观经济学课程的代写代考和辅导服务！

ECON1120 Macroeconomics课程简介

Analysis of aggregate economic activity in relation to the level, stability, and growth of national income. Topics may include the determination and effects of unemployment, inflation, balance of payments, deficits, and economic development, and how these may be influenced by monetary, fiscal, and other policies.

Forbidden Overlap: Students may not receive credit for both AEM 1300 and $\mathrm{ECON} 1120$.

PREREQUISITES

Aggregate economic activity refers to the overall level of economic activity in an economy, including the production, consumption, and distribution of goods and services. National income, which measures the total income generated within a country’s borders, is a key indicator of aggregate economic activity. In this context, the level, stability, and growth of national income are important factors that can impact an economy in a variety of ways.

Unemployment is one of the key factors that can impact the level and stability of national income. When unemployment is high, it can reduce the amount of goods and services produced within an economy, which can result in a decline in national income. Conversely, when unemployment is low, it can lead to increased production and higher national income.

ECON1120 Macroeconomics HELP（EXAM HELP， ONLINE TUTOR）

问题 1.

${ }^1$ We should add secondary income, but we will disregard for the analysis.

问题 2.

${ }^2$ The fact that current accounts seem to be typically quite small relative to the size of the economy, so that savings is roughly similar to investment, is called the Feldstein-Horioka puzzle.

问题 3.

${ }^3$ Think about what happens, for instance, if $r>\rho$. We would have consumption increasing at a constant rate. This patient economy, with relatively low $\rho$, would start accumulating assets indefinitely. But in this case, should we expect that the assumption that it is a small economy would keep being appropriate? What if $r<\rho$ ? This impatient economy would borrow heavily to enjoy a high level of consumption early on, and consumption would asymptotically approach zero as all income would be devoted to debt payments – not a very interesting case.

问题 4.

${ }^4$ Is this example mere coincidence, or related to the fact that one of us is from Chile, which is a major exporter of copper? We will let you guess.

Textbooks

• An Introduction to Stochastic Modeling, Fourth Edition by Pinsky and Karlin (freely
available through the university library here)
• Essentials of Stochastic Processes, Third Edition by Durrett (freely available through
the university library here)
To reiterate, the textbooks are freely available through the university library. Note that
you must be connected to the university Wi-Fi or VPN to access the ebooks from the library
links. Furthermore, the library links take some time to populate, so do not be alarmed if
the webpage looks bare for a few seconds.

此图像的alt属性为空；文件名为%E7%B2%89%E7%AC%94%E5%AD%97%E6%B5%B7%E6%8A%A5-1024x575-10.png — 经济代写|ECON1120 Macroeconomics

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经济代写|ECON1120 Macroeconomics

Posted on 2023年4月5日2023年4月5日 by statistics-lab

Statistics-lab™可以为您提供cornell.edu ECON1120 Macroeconomics宏观经济学课程的代写代考和辅导服务！

ECON1120 Macroeconomics课程简介

Forbidden Overlap: Students may not receive credit for both AEM 1300 and $\mathrm{ECON} 1120$.

PREREQUISITES

ECON1120 Macroeconomics HELP（EXAM HELP， ONLINE TUTOR）

问题 1.

1) We have discussed what inflation is. Why are central banks worried about inflation?
2) The US central bank, the Federal Reserve, has two goals in mind when it makes monetary policy, keep inflation and unemployment as low as possible. Why is there tension between these goals? What three tools does the Fed (not the Feds- that is the FBI) use to meet these too goals?
3) If the Fed received data which insinuated that the unemployment rate was lower than the natural rate of unemployment, what might the Fed do in response to this information?

Central banks are worried about inflation because high and volatile inflation can lead to economic instability, reduce consumer and business confidence, and lead to a decrease in the purchasing power of money. Inflation can also cause distortions in the allocation of resources, leading to misinvestment and maladjustment in the economy.
There is tension between the goals of keeping inflation and unemployment low because some monetary policy tools that can be used to control inflation can also increase unemployment, and vice versa. For example, increasing interest rates to combat inflation can also increase unemployment by reducing borrowing and spending. The three tools that the Fed uses to meet these goals are:

Open market operations: buying or selling government securities to increase or decrease the money supply
Discount rate policy: setting the interest rate that banks can borrow from the Fed
Reserve requirements: setting the amount of money that banks must hold in reserves.

If the Fed received data indicating that the unemployment rate was lower than the natural rate of unemployment, it might respond by raising interest rates or implementing other measures to tighten monetary policy. This would be done to prevent the economy from overheating and inflation from rising above its target level. Additionally, the Fed may use its communication tools to signal to the public and financial markets that it is concerned about the low unemployment rate and may take action to address it.

问题 2.

1) Compare the goals of the Federal Reserve when it conducts monetary policy to those of the executive branch of the US government when it conducts fiscal policy.
2) What fiscal policy decisions has the Bush administration made since taking office in 2001 ? What do various pundits have to say about the administration’s decisions?
3) Discuss the trade-offs that are evident in the Denmark’s decision to provide job re-training for workers who have lost their jobs. (Use the article we discussed in class as an information source.)

The Federal Reserve’s primary goal when conducting monetary policy is to maintain price stability and achieve maximum sustainable employment. They do this by adjusting interest rates, buying and selling government securities, and controlling the money supply. The executive branch of the US government, on the other hand, uses fiscal policy to manage the economy. This involves using government spending, taxation, and borrowing to influence the economy. The goal of fiscal policy is to promote economic growth, job creation, and stabilize the economy during times of recession.
The Bush administration made several fiscal policy decisions during its time in office. Some of these decisions include:

Implementing tax cuts in 2001 and 2003
Increasing defense spending
Passing the Medicare Prescription Drug, Improvement, and Modernization Act of 2003
Implementing the Troubled Asset Relief Program (TARP) in response to the financial crisis of 2008

Various pundits have had differing opinions on the Bush administration’s fiscal policy decisions. Some have praised the tax cuts for promoting economic growth, while others have criticized them for widening the income gap and increasing the national debt. The increase in defense spending has also been a topic of controversy, with some arguing that it was necessary for national security, while others believe it was unnecessary and contributed to the national debt. The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 has been both praised for providing seniors with access to prescription drugs and criticized for its cost. Finally, TARP has been both praised for stabilizing the financial system and criticized for bailing out large corporations at the expense of taxpayers.

Denmark’s decision to provide job re-training for workers who have lost their jobs involves several trade-offs. On the one hand, re-training can provide workers with new skills and increase their chances of finding new employment. This can also benefit the economy by improving the skill level of the workforce and increasing productivity. On the other hand, re-training can be costly and may not always lead to successful re-employment. There is also the risk of creating a culture of dependency, where workers rely on re-training rather than seeking new employment opportunities. Additionally, there may be trade-offs between re-training programs and other government spending priorities, such as healthcare or education. The article we discussed in class highlights some of these trade-offs, noting that while re-training programs in Denmark have been successful in getting workers back into the workforce, they are expensive and require ongoing government investment.

Textbooks

经济代写|ECON1120 Macroeconomics

Posted on 2023年3月28日2023年3月28日 by statistics-lab

Statistics-lab™可以为您提供cornell.edu ECON1120 Macroeconomics宏观经济学课程的代写代考和辅导服务！

ECON1120 Macroeconomics课程简介

Forbidden Overlap: Students may not receive credit for both AEM 1300 and $\mathrm{ECON} 1120$.

PREREQUISITES

ECON1120 Macroeconomics HELP（EXAM HELP， ONLINE TUTOR）

问题 1.

1) We have discussed what inflation is. Why are central banks worried about inflation?

Central banks are worried about inflation because it can have negative impacts on the economy and society as a whole. Some of the main reasons why central banks are concerned about inflation are:

Loss of purchasing power: Inflation can erode the purchasing power of money over time, which can hurt consumers and businesses alike. This means that the same amount of money can buy fewer goods and services, which can lead to a decrease in living standards.
Uncertainty and instability: Inflation can also create uncertainty and instability in the economy. High and unpredictable inflation rates can make it difficult for businesses to plan for the future, which can lead to a decrease in investment and economic growth.
Financial market volatility: Inflation can also lead to volatility in financial markets, which can have a ripple effect on the rest of the economy. For example, high inflation rates can cause interest rates to rise, which can make it more expensive for businesses and consumers to borrow money.
Negative impact on savers: Inflation can also have a negative impact on savers, as it can reduce the real value of their savings. This can make it more difficult for people to plan for the future and can lead to a decrease in overall financial stability.

Overall, central banks are worried about inflation because it can have wide-ranging negative impacts on the economy and society, and can make it difficult for them to achieve their goals of promoting economic stability and growth.

问题 2.

2) The US central bank, the Federal Reserve, has two goals in mind when it makes monetary policy, keep inflation and unemployment as low as possible. Why is there tension between these goals? What three tools does the Fed (not the Feds- that is the FBI) use to meet these too goals?

There can be tension between the Federal Reserve’s two goals of keeping inflation and unemployment low because the policies that are effective at reducing one goal may not necessarily be effective at achieving the other goal. For example, in the short term, the Fed could reduce unemployment by lowering interest rates and increasing the money supply, which can stimulate economic growth and increase employment. However, this policy could also lead to inflation, as the increased demand for goods and services could drive up prices.

The three main tools that the Federal Reserve uses to achieve its dual mandate of keeping inflation and unemployment low are:

Open market operations: The Fed can buy or sell government securities on the open market, which can affect the supply of money in the economy. By buying government securities, the Fed increases the money supply, which can help lower interest rates and stimulate economic growth. Conversely, by selling government securities, the Fed can decrease the money supply, which can help raise interest rates and combat inflation.
Reserve requirements: The Fed requires banks to hold a certain percentage of their deposits as reserves, which can affect the amount of money that banks can lend out. By increasing reserve requirements, the Fed can decrease the money supply, which can help combat inflation. Conversely, by decreasing reserve requirements, the Fed can increase the money supply, which can help stimulate economic growth and employment.
Discount rate: The Fed can also lend money to banks at a discount rate, which is the interest rate that banks pay to borrow money from the Fed. By raising the discount rate, the Fed can make it more expensive for banks to borrow money, which can help combat inflation. Conversely, by lowering the discount rate, the Fed can make it easier and cheaper for banks to borrow money, which can help stimulate economic growth and employment.

Overall, the Fed uses a combination of these tools to balance its dual mandate of keeping inflation and unemployment as low as possible, while also promoting economic stability and growth.

Textbooks

经济代写|ECON1120 Macroeconomics

Posted on 2023年3月24日2023年3月24日 by statistics-lab

Statistics-lab™可以为您提供cornell.edu ECON1120 Macroeconomics宏观经济学课程的代写代考和辅导服务！

ECON1120 Macroeconomics课程简介

Forbidden Overlap: Students may not receive credit for both AEM 1300 and $\mathrm{ECON} 1120$.

PREREQUISITES

ECON1120 Macroeconomics HELP（EXAM HELP， ONLINE TUTOR）

问题 1.

Section I- Measuring the Economy
1) What does GDP attempt to measure?
2) Briefly differentiate between nominal and real GDP. Why is real GDP a more accurate measure of economic growth compared to nominal GDP?
3) What are two weaknesses of GDP?
4) Students in France have been protesting the possibility of new labor laws in the country. How might the changes to labor laws impact France’s structural unemployment rate?

GDP attempts to measure the total value of goods and services produced within a country’s borders during a specific period. It is a widely used indicator of a country’s economic performance and is often used to compare the economic growth of different countries.
Nominal GDP measures the total value of goods and services produced in an economy using current market prices. Real GDP, on the other hand, adjusts for inflation by measuring the value of goods and services using a constant set of prices from a base year. Real GDP is a more accurate measure of economic growth compared to nominal GDP because it eliminates the effects of inflation, allowing for more meaningful comparisons of economic performance over time.
Two weaknesses of GDP are that it does not account for non-monetary transactions such as volunteer work, and it does not consider the negative externalities that may result from economic activity, such as pollution and other environmental degradation.
Changes to labor laws in France may impact the country’s structural unemployment rate in a number of ways. For example, if the new laws make it easier for firms to hire and fire workers, this may lead to higher turnover rates and a more flexible labor market, which could decrease structural unemployment. On the other hand, if the new laws lead to lower wages or reduced job security, this may increase structural unemployment as workers struggle to find stable, well-paying jobs.

问题 2.

1) What characteristics do the “industrialized” economies of the G-8 tend to share with one another? Why do economists think that private property laws lead to economic growth?
2) Jeffrey Sachs, an economics professor from Columbia University, has lobbied extensively over the last ten years that industrialized economies should take a more active lead in trying to lift poor African countries out of poverty. What does he suggest the world’s largest economies do to help these poor countries? What benefits would the largest economies accrue from his proposed actions? What criticism has confronted his cause?

The industrialized economies of the G-8 (Canada, France, Germany, Italy, Japan, Russia, the UK, and the US) tend to share characteristics such as high levels of industrialization, technological development, and economic diversity. These economies typically have well-developed infrastructure, robust financial systems, and strong legal frameworks to protect private property rights, which are believed to be important drivers of economic growth.

Economists believe that private property laws lead to economic growth because they provide individuals and businesses with the security and incentive to invest in productive activities, such as new businesses, factories, and technologies. When individuals and businesses are confident that they can benefit from the fruits of their labor, they are more likely to take risks and make investments that can drive economic growth.

Jeffrey Sachs has suggested that industrialized economies should take a more active role in helping poor African countries lift themselves out of poverty by increasing development aid and debt relief, supporting investment in education and health, and promoting good governance and economic reforms. He argues that these actions can help poor countries build the infrastructure, institutions, and human capital necessary to support economic growth and reduce poverty.

According to Sachs, the largest economies would benefit from these actions by helping to stabilize the global economy, promoting peace and security, and opening up new markets for trade and investment. Critics of Sachs’ cause have argued that foreign aid is not an effective way to promote development and may even be harmful in some cases, by fostering corruption and dependency, and distorting local markets. Others have suggested that poor countries need to focus on building strong institutions and promoting economic freedom in order to achieve sustainable growth and reduce poverty.