Macroeconomics studies concepts such as national income. Macroeconomics as a science. Purpose, tools and methods of macroeconomic analysis. Macroeconomic agents. Macroeconomic markets

26.11.2023

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Macroeconomics performs the following main functions:

1. cognitive, because it studies and explains economic processes in macroeconomics,
2. practical, since it gives recommendations for carrying out,
3. prognostic, because it evaluates promising options for macroeconomic dynamics,
4. ideological, because affecting the interests of the entire society, it shapes the economics of its members.

The main economic actors in macroeconomics are:

1. Households;
2. Enterprises and firms;
3. State;
4. Foreign countries (participants in foreign economic relations).

All subjects of macroeconomics, when implementing, rely on their interests and motives, react to changes in the general and private economic situation, to the actions of other subjects, both internal and external (abroad). When considering the behavior of economic entities, it is necessary as an alternative, meaning the possibility of different (at least two) options for economic behavior in a given situation.

This is due to the possibility and need to obtain alternative (income). The owner of resources (means of production or labor) could have received such a benefit with another, alternative option for their use, if he had not abandoned it (or perhaps if he had noticed it) in favor of the option that actually took place. This feature of the behavior of subjects is important to know and take into account when predicting economic growth macroeconomics in a number of other situations.

The behavior of subjects in connection with their expectations is also interesting and significant for macroeconomics. Expectations are an assessment of the current economic situation from the perspective of the past or future period.

Hence there are two types of expectations: based on the past and based on the future.

Expectations from the perspective of the future are divided into three types:

1 - statistical, which means that subjects are guided by the immutability and preservation of the economic situation;
2 - adaptive, meaning that subjects adapt their behavior to obvious or identified changes in the situation;
3 – rational expectations are the rational behavior of subjects based on the collection and analysis of the entire set of information about changes in the economy in the future period.

Macroeconomics, as well as microeconomics, is one of the sections economic science. Translated from ancient Greek, the word “macro” means “big”, and “economy” is literally translated as “housekeeping”. For the first time the term “macroeconomics” was used by the laureate Nobel Prize- scientist Ragnar Frisch. But modern macroeconomics originates from another outstanding scientist - John Keynes.

What does this area of economics study?

What is macroeconomics, and how does it differ from other branches of economic knowledge? Unlike, for example, microeconomics, which studies individual actors in markets, macroeconomics examines problems that are common across the state and the world. This branch of knowledge operates with such terms as gross domestic product(GDP), aggregate demand, investment, unemployment rate. Microeconomics and macroeconomics differ in their scale and level of the phenomena they consider.

Analysis methods

The methodological apparatus of this field of knowledge is the same as in microeconomics. The methods and principles of macroeconomics include: deduction, induction, abstraction, the use of normative and positive types; and the assumption that market agents will behave rationally.

Subject of macroeconomics

The subject of this area of economics is a variety of market phenomena that cannot be associated with a single industry, but have a general explanation. This area of knowledge examines the behavior of the economy on a state scale and sees it as a whole - ups and downs, inflation, unemployment. Having studied the subject of this industry, we can give a complete definition of what macroeconomics is. This is a branch of knowledge that studies the behavior of the state’s economy as a whole from the standpoint of the sustainability of its growth, rational use of resources, full employment and minimal inflation.

Market agents

One of the important principles in macro economic theory is the aggregation of knowledge. It is possible to study the macroeconomic features of the market only with the accumulation of information about the patterns and dependencies in the market. Aggregation is a method in which individual elements are combined into a single whole. Based on this principle, four types of macroeconomic agents are distinguished:

Households. They are separately operating market agents whose goal is to sell economic resources and maximize profits. They spend most of it on their own consumer expenses.
Firms are the next agent of macroeconomics. They act as buyers of economic resources for the purpose of producing various goods and services. Firms pay a portion of their profits to households as income. One of their goals is to expand production, so these agents need various investment goods (equipment). Firms are also the agents that purchase investment goods.
States. They are a collection of various institutions that have the legal right to influence the course of processes in the economy. The state performs several functions. Firstly, it is a producer of various public goods; secondly, it acts as a buyer of goods that are necessary for the successful functioning of the public sector. Through taxes, the state redistributes income. In the international financial market, it can act as a lender or borrower (depending on the state of the state budget). It is also the regulator of the economy in the country.
Foreign sector. This agent unites the rest of the world for a single state. The foreign sector interacts with it through exports, imports, and capital movements.

What problems does macroeconomics study?

An understanding of what macroeconomics is will be incomplete without a description of the problems it studies. The focus of this branch of knowledge is the economic growth of various countries and its speed; the level of employment in the state, the problem of unemployment. This area of economics also studies the state of the state budget and balance of payments of a country. Problems of macroeconomics cannot be considered from the perspective of an individual producer or consumer. Also other aspects studied in this field of knowledge are:

Study of the nature of price increases.
Determination of GDP volume.
Consideration of the mechanisms of economic growth.
Research into the causes of market fluctuations.
Preparation of a theoretical basis for determining the goals, forms, and content of government intervention in the country’s economy.

Macroeconomics is the study of all these issues. The main direction of her research is the peculiarities of the economy on a state scale.

Goals of science

Although macroeconomic issues arose back in the 18th century, this industry first appeared in the 40s of the last century. The American “Great Depression” had a great influence on the emergence of macroeconomics, which resulted in a decline in production in a number of Western countries, widespread unemployment, and impoverishment of the population. On this moment The goals of macroeconomics as a science are as follows:

It not only describes macroeconomic processes, but also reveals their inherent patterns.
Knowledge of such patterns allows you to correctly assess the economic situation in the country and the world, and take the measures necessary to improve and stabilize it. First of all, such measures should be taken by heads of state.
Macroeconomics allows us to foresee how events will develop and anticipate difficulties in the economic sphere.

Two schools in macroeconomics

As knowledge increased and macroeconomics developed, two main schools emerged. According to the first of them - the classic one - free markets themselves bring the country's economy to equilibrium. There is no need for government intervention for this.

The second school - Keynesian - was based on an understanding of the inflexibility of prices, as well as the inability of the “invisible hand of the market” to achieve equilibrium. This also applies to the labor market, albeit in the short term. Such failure presupposes the intervention of the government apparatus in economic processes. This model was used quite effectively in the 70s of the last century in the economies of many countries.

Development of science and relationship with microeconomics

The question of what macroeconomics is cannot be considered in isolation from the problems of microeconomics. These two spheres do not exist separately from each other, but are closely intertwined. The gap between these areas of knowledge existed at the beginning of the emergence of economics, and gradually it decreased. Currently, the main problem area in macroeconomic theory is aggregation, but this area is actively developing. A textbook on macroeconomics, which teachers often recommend to interested students, is “Macroeconomics” by V.V. Zolotarchuk. The manual of the same name by L. G. Simkina is also popular.

Topic 1: Introduction to macroeconomics.

Plan:

Macroeconomics as a science.

Methods of macroeconomics.

Macroeconomics is the science of the economy as a single whole at the federal level and its relationship with the world economy. The phenomena studied by macroeconomics affect the life of every person: an entrepreneur - from changes in income, consumers - from changes in prices, the unemployed - from the rise of the economy and the hiring of workers by firms, etc. Macroeconomics is closely related to microeconomics, since the macroeconomic phenomena being studied result from the interaction of many enterprises and households. Macroeconomics tools are also economic models that express the relationship between various economic variables. In relation to the macroeconomic model of consumer goods as exogenous variables may be the price of these goods and the income of the population, and in quality endogenous variables– aggregate demand and aggregate supply of goods.

The role of macroeconomics manifests itself in the following: a) it explains the laws of economic development of society, identifies the conditions for achieving general economic equilibrium; b) based on the conclusions of macroeconomic processes, an economic system is built state policy and its improvement (in the field of monetary and fiscal policy, methods government regulation etc.); c) defines international economic relations. Based on a comparison of exchange rates, it is possible to regulate export and import processes, achieving a positive impact on the efficiency of the national economy.

The initial basis of macroeconomic The analysis is based on three key indicators: the growth rate of real GDP, the inflation rate, and the unemployment rate. They make it possible to quantify the state of the economy and take the necessary measures to improve it. The most important task of macroeconomics is to substantiate economic phenomena for improvement economic policy states. The following follows from this: main levels of macroeconomic tasks: a) the standard of living in a country in the long term is determined by the production capabilities of the economy (the level of development of production factors, the achievement of technology); b) in the short term, the quantity of goods and services produced in the country depends on aggregate demand; c) in the long run, the growth rate of the money supply determines the rate of inflation; d) in the short term, when developing economic policy, there is a need to choose between inflation and unemployment.

Problems addressed by macroeconomics the following:

1) Theory of economic growth: how economic growth is carried out; what factors contribute to it;

2) The theory of cycles: what determines the economic situation; what are the anti-crisis measures;

3) The theory of monetary circulation: how the monetary and fiscal systems function;

4) The theory of inflation: what is the price level and how its dynamics are determined;

5) Employment theory: what determines the level of employment; how the problem of unemployment is solved;

6) Theory of economic policy: what impact does the state have on the economy;

7) The theory of foreign economic relations: what impact does abroad have on the national economy.

Macroeconomics is the study of the overall level of national output, unemployment and inflation; deals with the properties of the economic system as a whole, studies the factors and results of the development of the country's economy as a whole.

Macroeconomics pursues specific goals and uses appropriate tools.

The goal system includes the following elements.

1. High and growing level of national production, i.e. the level of real gross domestic product (GDP). The ultimate goal of economic activity comes down to providing the population with goods and services. The aggregate measure of national production is gross domestic product (GDP), which expresses the market value of final goods and services.

2. High employment with low involuntary unemployment. The unemployment rate fluctuates during the economic cycle. During the depression phase, the demand for labor decreases and the unemployment rate increases. During the recovery phase, the demand for labor increases and unemployment decreases. However, meeting everyone's need for decent work is an elusive task.

3. A stable price level combined with the determination of prices and wages through the interaction of supply and demand in free markets. A common measure of the general price level is the consumer price index (CPI), which takes into account the costs of purchasing a fixed set of “baskets” of goods and services.

4. Achieving a zero balance of payments. This concerns an open economy and means achieving general economic equilibrium at the level of full employment with a zero balance of payments.

The relationship between the main macroeconomic goals determines the main macroeconomic goal, reflecting the main task of macroeconomic policy, the implementation of which comes in two forms:

Intermediate macroeconomic goals regulate the values of key macroeconomic variables;

Tactical macroeconomic goals transform the national economy.

The state has at its disposal appropriate tools that it can use to influence the economy.

The following macroeconomic policy instruments are distinguished.

Fiscal policy, meaning the manipulation of taxes and government spending to influence the economy. The first component of fiscal policy, taxation, affects the overall economic situation in two ways;

By reducing disposable income or expendable income of households. For example, taxes reduce the amount of money that the population spends on the purchase of goods and services, as a result of which the aggregate demand for goods decreases, which causes a fall in GDP;

Influencing the prices of goods and factors of production. Thus, an increase in income taxes causes a decrease in incentives for firms to invest in new capital goods.

Money-credit policy carried out by the state through the country's monetary, credit and banking systems. Regulation of the money supply affects interest rates and thereby the economic environment. For example, a tight money policy raises interest rates, reducing economic growth and increasing unemployment. Conversely, cheap money policies cause economic growth and a reduction in unemployment.

Income Policy- this is the desire of the state to contain inflation through policy measures: either direct control over wages and prices, or voluntary planning for increases in wages and prices.

Income policy in Western economic literature is the most controversial. Thirty to forty years ago, this policy was considered effective in combating inflation. Currently, many economists consider it not only ineffective, but also harmful, because it does not reduce inflation. Therefore, most developed countries use it in emergency situations.

Foreign economic policy. International trade increases efficiency and economic growth, and the standard of living of the population. An important indicator of foreign trade is net exports, which is the difference between the value of exports and the value of imports. If exports exceed imports, there is a surplus; if imports exceed exports, there is a trade deficit.

Trade policy includes tariffs, quotas and other regulatory instruments that either stimulate or restrict exports and imports. Regulation of the foreign sector is carried out by coordinating macroeconomic policies in different economic regions, but mainly through management foreign exchange market, because on foreign trade influenced by the country's exchange rate.

Macroeconomic problems include:

· Economic growth, economic cycles: What is economic growth? How to determine the rate of economic growth? What factors can influence economic growth? How does economic growth affect the development of the country in question?

· Unemployment: Who are the unemployed? Is unemployment a positive or negative factor for the economy? How to fight unemployment? How can we determine the different levels of unemployment in a country? What does unemployment affect?

· General price level: What is meant by the general price level? How do changes in price levels affect the economy? What is inflation? Which inflation is beneficial and which is harmful?

· Money circulation, interest rate level: What is the role of money in macroeconomics? What influences the general interest rate and what does it affect in the economy?

· The state budget: How does the state regulate its income and expenses? How do criteria such as the welfare of society or business development in the country depend on changes in the state budget?

· Trade balance: How does a country trade internationally with other countries? How do changes in exports and imports affect the exchange rate, the development of the country in question, and the state of the world economy? [

SOURCES OF MACROECONOMIC INFORMATION:

· www.gks.ru – federal Service state statistics.

· www.cbr.ru – website of the Central Bank of the Russian Federation, which provides the most important data on the state of the financial and credit system of our country.

· www.minfin.ru – Ministry of Finance of the Russian Federation.

· www.rbc.ru – Website of the information agency “Rosbusinessconsulting”.

· http://www.kommersant.ru – publishing house "Kommersant"

· http://www.eg-online.ru/news – newspaper “Economy and Life”

· http://www.eizh.ru/ekonom/497/ – newspaper “Economy and Life of the Chernozem Region”.

· As well as periodicals - magazines “Economy Issues”, “Economist”, “World Economy and International Economic Relations”, “ECO”, “Russian Economic Journal”, etc.

If the subject of a scientific discipline answers the question of what it studies, then the method is how this science is studied.

A method is understood as a set of methods, techniques, and forms of studying the subject of a given science, i.e., a specific toolkit for scientific research.

Macroeconomics, like other sciences, uses both general and specific methods of study.

General scientific methods include: the method of scientific abstraction; method of analysis and synthesis; method of unity of historical and logical; system-functional analysis; economic and mathematical modeling; a combination of normative and positive approaches.

At the same time, each science uses its own specific research methods and has its own terms and principles. For example, in chemistry the concept of a molecule is used, in physics - a quantum, in mathematics - an integral, a radical, etc. Macroeconomics uses its own concepts, the main of which are called categories. Along with the development of macroeconomics, some categories die out, others are modified. In other words, the categories are historical in nature.

The main specific method of macroeconomics is macroeconomic aggregation, which means the combination of phenomena and processes into a single whole. Aggregated values characterize market conditions and their changes (market interest rate, GDP, GNP, general price level, inflation rate, unemployment rate, etc.).

Macroeconomic aggregation extends to economic entities (households, firms, government, abroad) and markets (goods and services, securities, money, labor, real capital, international, foreign exchange).

In macroeconomics, economic models are widely used - formalized descriptions (logical, graphical, algebraic) of various economic phenomena and processes to discover functional relationships between them. Macroeconomic models allow us to abstract from minor elements and focus on the main elements of the system and their interrelations. Macroeconomic models, being an abstract expression of economic reality, cannot be comprehensive, therefore in macroeconomics there are many different models that can be classified according to various criteria:

by degree of generalization (abstract theoretical and concrete economic);

by degree of structuring (small-sized and multi-sized);

from the point of view of the nature of the relationship of elements (linear and nonlinear);

by degree of coverage (open and closed: closed - for studying a closed national economy; open - for studying international economic relations);

taking into account time as a factor determining phenomena and processes (static - the time factor is not taken into account; dynamic - time acts as a factor, etc.)

There are many different models in macroeconomics: the circular flow model; Keynes cross; IS-LM model; Baumol-Tobin model; Marx's model; Solow model; Domar model; Harrod model; the Samuelson-Hicks model, etc. All of them act as a common toolkit, without having any national characteristics.

In each macroeconomic model, the selection of factors that would be significant for the macroanalysis of a specific problem in a specific period of time is extremely important.

In each model, two types of variables are distinguished:

a) exogenous;

b) endogenous.

The first ones are introduced into the model from the outside; they are specified before the model is built. This is the background information. The latter arise within the model in the process of solving the stated problem and are the result of its solution.

When building models, four types of functional dependencies are used:

a) definitional;

b) behavioral;

c) technological;

d) institutional.

Definitional (from Latin definitio - definition) reflect the content or structure of the phenomenon or process being studied. For example, the aggregate demand in the goods market is understood as the total demand of households, the investment demand of the business sector, the demand of the state and abroad. This definition can be represented as an identity:

Y = C + I + G + NE.

Behavioral - show the preferences of economic subjects. Thus, the consumption function C = C(Y) and the saving function S = S(Y).

Technological - characterize technological dependencies in the economy, reflect connections determined by production factors, the level of development of productive forces, scientific and technological progress. An example is a production function showing the relationship between volume and factors of production:

Y = f(L, N, K), where Y is production volume, L is labor, N is land, K is capital.

Institutional - express institutionally established dependencies; determine the connections between certain economic indicators and government institutions regulating economic activity. For example, the amount tax revenue(T) is a function of income (Y) and the established tax rate (ty):

It should be noted that the time factor plays a greater role in macroeconomics than in microeconomics. Therefore, in macroeconomics, importance is attached to the “expectations” of economic actors.

The problem of expectations was first put forward by the Swedish economist, Nobel Prize winner in economics (1974) G. K. Myrdal (1898-1987).

Myrdal Gunnar Karl (1898-1987) - Swedish economist, specialist in the field of world economics, winner of the Nobel Prize in Economics 1974 "for his pioneering work on the theory of money and the theory of economic fluctuations, as well as for his in-depth analysis of the interdependence of economic, social and institutional phenomena ". Received a legal and economic education at Stockholm University. After receiving his doctorate (1927), he taught political economy, professor at Stockholm University (1927-1930, 1933-1938). Member of Parliament - Riksdag (1935), economic adviser to the Swedish Embassy in the USA, Minister of Trade (1945-1947). Member of the British Academy of Sciences, American Academy of Arts and Sciences, Royal Swedish Academy of Sciences. Myrdal's ideas laid the foundation for the Stockholm School of macroeconomics. Myrdal introduced the concepts of “ex ante” (“expectation”) and “ex post” (“realization”) into economic theory, which played an important role in the development of economic science in Sweden.

Economic expectations are divided into two groups:

a) ex post expectations;

b) expectations ex ante.

Expectations ex post - assessment by economic entities of the experience gained, actual assessments, assessments of the past.

Ex ante expectations are forecast estimates of economic entities.

In macroeconomics, there are three main concepts for setting expectations.

The concept of static expectations. According to this concept, economic agents expect in the future what they encountered in the past. For example, if last year prices grew by 3% per month, then this year their growth will also be 3%.

The concept of adaptive expectations, according to which economic actors adjust their expectations taking into account mistakes made in the past.

The concept of rational expectations. An approach according to which the forecasts of economic entities for the future are formed as the optimal result of processing all the information at their disposal, including about the government’s current economic policy.

The concept of rational expectations arose in the 70s of the twentieth century. R. Lucas is considered its founder.

Lucas Robert Emerton Jr. (b. 1937) - American economist, author of works on macroeconomics, winner of the 1995 Nobel Prize in Economics "for the development and application of the rational expectations hypothesis, as well as for his contributions to macroeconomic analysis and the advancement of understanding of economic policy." He was educated at the University of Chicago (1955-1959, 1960-1964) and the University of California at Berkeley (1959). He taught at the University of Chicago (1962-1963), professor of economics at the Carnegie Institute of Technology (1970-1974) (now Carnegie Mellon University). Since 1980 - Emeritus Professor of Economics at the University of Chicago, in 1986-1988. - Dean of the Faculty of Economics at the University of Chicago. Member of the Econometric Society, American Academy of Arts and Sciences. Lucas's main contribution is the use of the rational expectations hypothesis, according to which economic actors effectively use the information available to them in macroeconomic analysis to study the relationship between macroeconomic indicators and economic policy.

The authors of the concept of rational expectations argue that both the concept of static expectations and the concept of adaptive expectations provide a simplified interpretation of the mechanism for the formation of assessments by rational subjects. However, the concept of rational expectations does not give an unambiguous answer about the number of models for forming assessments of the future.

In macroeconomics, a distinction is made between positive and normative approaches.

The positive approach is an analysis of the actual functioning of the economic system.

The combination of positive and normative approaches makes it possible for macroeconomic research, despite the high level of scientific abstraction, to serve theoretical basis for the development of state economic policy.

Objectives of macroeconomics:

Support of income of the population;

Containing inflation;

Macroeconomics tools:

National product

Employment (unemployment),

Inflation,

The economic growth,

Economic cycle,

Question. Structure of the macrosystem. Functions of macroeconomics.

Structure

There are positive and normative macroeconomics.

Positive macroeconomics aims to explain the essence of ongoing economic processes and phenomena and develop recommendations for economic policy based on an analysis of real economic parameters. That is, positive macroeconomics deals with analysis economic facts and aims to build an economic model free from subjective judgments. The claims of positive macroeconomics can be statistically proven or disproven. For example, a typical positive judgment: “state budget revenues are directly dependent on the income tax rate.”

Normative macroeconomics expresses worldview, ideological principles, postulates and prescriptions of economic behavior, which serve as the basis for assessing the desirability of certain results of economic activity. That is, normative macroeconomics is a set of subjective judgments about how the economy should function. So, for example, statements like “the poor should not pay taxes”, “taxation should be based on a progressive scale” are normative.

Positive and normative judgments in macroeconomics are quite closely interrelated. On the one hand, positive theory serves as the basis for the selection of fundamental normative statements; on the other hand, normative postulates, under certain conditions, can serve as the basis for the creation of a new or special macroeconomic concept. In addition, in macroeconomics, due to the specifics of its subject, positive analysis is often based on subjective assessments of the initial postulates of economic development and the behavior of economic entities.

Macroeconomics also considers the following aggregate markets: the goods market, the labor market, the money market and the securities market.

The general methods of macroeconomics include the following: the method of induction and deduction, the method of analogy, the method of scientific abstraction, the method of ascent from the abstract to the concrete, the method of analysis and synthesis, the method of combining the historical and logical in the study.

Specific methods of macroeconomics include: aggregation, macroeconomic modeling and the equilibrium principle.

Macroeconomics performs the following functions:

Cognitive: study, analysis and explanation of economic processes and phenomena.

Forecasting: identification and assessment of prospects for economic development and economic conditions.

Ideological: the formation of a certain worldview on various economic issues affecting the interests of the entire society.

Question 6: national wealth.

Question 7 Unemployment and its forms. Natural unemployment.

Unemployment

Unemployment concept

Unemployment is an integral element of a market economy. Unemployment(ipetr!outep4) - a socio-economic situation in which part of the active, able-bodied population cannot find work that these people are capable of performing. Unemployment is caused by an excess of the number of people wanting to find work over the number of available jobs that match the profile and qualifications of applicants for these jobs.

Unemployed- a person of working age who does not have a job, but wants to work and is actively looking for a job. The upper limit of unemployment is the number of working-age population.

In accordance with the standards of the International Labor Organization (ILO) unemployed include persons of the age established for measuring the economic activity of the population, who during the period under review satisfied simultaneously following criteria:

a) did not have a job (gainful occupation);

b) were looking for work, i.e. contacted government or commercial employment services, used or placed advertisements in the press, directly contacted the administration of the organization or the employer, used personal connections or took steps to organize their own business;

c) were ready to start work. Pupils, students, pensioners and disabled people were counted as unemployed if they were looking for work and were ready to start work.

In the United States, the unemployed include people older than 16 years, unemployed, but actively looking for work within 4 months or pending | return to work within four weeks.

To measure the scale of unemployment, the following indicator is used: like the unemployment rate - the ratio of the number of unemployed to the number of economically active population in the period under review, as a percentage.

Unemployment rate

unemployed

economically active population

An accurate estimate of the unemployment rate is complicated by the following | factors:

1) part-time employment - in official statistics, all part-time workers are included in the category of fully employed;

2) the presence of people who have lost hope of getting a job; 3) imperfect information - some unemployed people claim that they are looking for a job, although this is not true. The shadow economy contributes to the overestimation of the official unemployment rate.

Causes of unemployment

There are two approaches to determining the causes of unemployment:

1) Marxist;

2) market.

From the point of view of Marxists, unemployment arises as a result of the accumulation of capital, in the process of which the organic composition of capital plays an important role. The capitalist is interested in constant capital increasing and variable capital decreasing. As a result, a reserve army of labor arises.

The market approach assumes that the cause of unemployment is the demand for labor, which depends on a number of factors:

The general state of the economic situation - in the recovery phase, the demand for labor grows, during a crisis - vice versa;

Bank interest rate - the lower the bank interest rate, the higher the investment, therefore, the higher the demand for

Tax structure - high stakes labor tax and preferential taxation of investments leads to a desire to reduce the amount of living labor;

State guarantees of living standards;

The degree of monopolization of the labor market (activity of trade unions, achievement of various tariff agreements, etc.)

Essences and types of inflation

Inflation is one of the most pressing problems modern economy. Inflationary price increases are usually based on various, usually interrelated, factors. Inflation, its causes and essence are the subject of consideration of various currents of economic thought.

Inflation V interpretation of foreign economic schools.

Representatives of the monetarist school associate inflationary rises in prices mainly with negative processes in the sphere of monetary circulation: the money supply grows, followed by an increase in prices over time

This formula, called the Fisher equation of exchange, schematically reflects the most general relationship between the expansion of the money supply (M), rising prices (P), changes in the velocity of money circulation (V) and the supply of goods to the market (0).

As follows from the equation of exchange, the price level (as well as their growth, depends on three components of the quantity of money and the speed of its turnover; on the one hand, and the volume of production, on the other). Using the exchange equation, we can express the above relationship:

With relatively stable volumes and structure of production at a constant velocity of money circulation, the main factor in price shifts becomes a change in the volume of money supply (M). If the supply of money equals the demand for money, then the price level remains unchanged. A change in the amount of money in circulation (an increase in supply) leads to an increase in prices: prices (P) rise because the money supply (M) increases.

Supporters of monetarism argue that the reason for the inflationary gap between money and goods lies on the surface, it comes down to excessive growth of the money supply - M. An excess of the money supply leads to an inflationary rise in prices; following this, with a certain gap in time, prices rise: M > P, i.e. An increase in the money supply leads to an increase in prices.

But the relationship between the money supply (M) and price movements (P) Not, only direct, but also reverse. If prices rise, more money is required to ensure trade turnover. As prices rise, the money supply increases. As the amount of money in circulation increases, prices rise.

It’s not just about the amount of money in circulation, but also about their purchasing power, in the structure of the money supply.

The money supply can grow. If at the same time the purchasing power of money falls, then violations occur due to the fact that money owners strive to get rid of the “falling” rubles as quickly as possible. The velocity of money circulation (V) increases. Excessive amounts of money thrown onto the market fuel inflationary price increases.

The weakness of the ruble is manifested not only in the fact that prices are rising, but also in the fact that confidence in the national currency is falling, and the products of Russian manufacturers often cannot withstand the competition of foreign goods. Consumers do not want to purchase domestic manufactured goods and food. They do not take ZIL and Biryusa refrigerators, meat products from Bryansk, butter from Vologda, but strive to purchase Japanese electronics and Dutch food products

The purchasing power of the Russian ruble is provided by the products of the oil and gas industry; In this area, the ruble acts on an equal footing with Western currencies. And the fall in demand for consumer goods and services produced at Russian enterprises undermines the purchasing power of the national currency and intensifies negative processes in the monetary sphere.

Main types of inflation

The specific parameters of inflation in a particular country depend on many factors. It is customary to distinguish between several types of inflation.

Open inflation manifests itself in conditions where prices are not regulated “from above”, but are formed under the influence of market factors. The price regulator is the ratio of supply and demand in the main markets - the goods market, the money market, and the labor market. Open inflation is characterized by a constant increase in prices. The reasons for their growth may be different.

For example, the impetus for the development of open inflation may be an unregulated increase in railway tariffs and other services of natural monopolies; , prices for initial types of products. It is the product prices of the fuel and energy exchange rate (for example, rubles to dollars) that pushes up price increases. And an increase in prices, in turn, inevitably entails a fall in the purchasing power of the national currency, and accordingly a change in its exchange rate.

Negative impact on monetary system countries have sharp fluctuations in prices on the world market. Inflation is increased by the growth of external debts, a decrease in export revenues, and breaks in trade and production ties.

Depending on the pace (degree) of development, the following types of inflation are distinguished.

Creeping inflation at which the average annual price increase does not exceed 3-5%. A similar rate of inflation is typical for many Western countries. Creeping inflation is not accompanied by crisis shocks. It has become a familiar element of a market economy. It is believed that the relatively low, “three percent” inflation rate can be used to stimulate production.

The acceptable rate of “normal” inflation depends on specific conditions; it is not the same for different countries. For example, for Switzerland, the permissible rate of creeping inflation should not exceed 1%; for Greece, stable economic development is achieved within the limits of 8-10% price growth.

Galloping inflation unlike creeping ones, it becomes difficult to control. The average annual price increase is from 10 to 50% or slightly higher. This type of inflation is typical for countries with economies in transition. In the first half of the 90s. the growth rate of retail prices in Poland was in the range of 20-70%; in Hungary -: 19-35%; in the Czech Republic and Slovakia - from 10 to 55-60%. , 5

The most dangerous, to a certain extent destructive type of inflation is called hyperinflation. Average annual price growth rate | exceeds 100%, sometimes expressed in four-digit figures. The danger of hyperinflation is that it gets out of control and becomes unmanageable. During the period of completely uncontrollable hyperinflation that broke out in Bolivia in 1985, a gigantic destruction , The real rise in prices within six months amounted to 38,000%. Hyperinflation can arise as a consequence of prolonged wars or serious socio-political upheavals.

Question 10: Demand inflation.

The main causes of demand inflation are:

· Growing demand from the population, the factors of which are rising wages and employment growth;

· Increased investment and increased demand for capital goods during economic recovery;

· Increase in government spending (increase in military and social orders).

Supply inflation

Supply inflation means an increase in prices provoked by an increase in production costs in conditions of incomplete use of production resources. It is sometimes called cost-push inflation. Recently, the type of inflation, in which prices rise while aggregate demand decreases, is often encountered in world practice. The main causes of supply inflation are:

· Salary growth;

· Rising prices for raw materials and energy resources;

· Monopoly and oligopolistic pricing practices;

· Financial policy states.

Increasing unit costs reduces profits and the volume of output that producers are willing to offer at current price levels. As a result, the supply of goods and services decreases and prices increase.

A general increase in prices leads to a decrease in real incomes of the population. Trade union demands to increase nominal wages of workers and public policy compensation for monetary losses from inflation gives rise to a vicious circle: rising prices cause demands for increased incomes of the population, increased income leads to an increase in entrepreneurs' costs for wages (supply inflation) and/or to the restoration of effective demand (demand inflation).

Question 11: Phillips curve.

The Phillips curve reflects the relationship between inflation and unemployment rates.

Keynesian model shows that either unemployment (caused by a decline in production, therefore a decrease in demand for labor) or inflation (if the economy operates at full employment) can occur in the economy. They cannot exist at the same time.

One of the most important uses of the Phillips curve, in addition to setting economic policy goals, is the construction of the aggregate supply curve. Aggregate supply expresses the dependence of real output on the price level. And the volume of production directly depends on the number of people employed in the economy. The greater the number of people employed in the economy, the greater the volume of production and, accordingly, the supply.

The negative slope of the curve proves the existence of a choice between two evils of the economy - inflation and unemployment. The simplest Keynesian model shows that the economy can experience either unemployment (caused by a recession) or inflation (if the economy operates at full employment, i.e. in the long run).

In terms of the aggregate supply and demand model, the simplest Keynesian analysis assumes that the AS curve has the form of an “inverse L” (i.e., there is no middle section). Along the horizontal (Keynesian) portion of the aggregate supply curve, an increase in demand will cause an increase in real output and employment at a constant price level until a state of full employment is reached. Further growth in aggregate demand will move the economy to the vertical (classical) section of the aggregate demand curve, where real output remains unchanged but inflation appears.

As follows from the Phillips curve, when pursuing economic policy something has to be sacrificed. If society has a negative attitude towards unemployment, but is tolerant of inflation, then the government can stimulate aggregate demand, increasing inflation and reducing unemployment. The Phillips curve was completely true until the mid-70s. During this period, stagnation occurred (a simultaneous increase in inflation and unemployment), which the Phillips curve could not explain.

Question 11 Phillips curve.

In the West, inflation is regulated using Phillips curve(see picture). The essence of this curve is that there is an inverse relationship between price (and wage) movements and the unemployment rate. This connection was first established by the Australian economist Phillips. He drew attention to the fact that in conditions of depression, which is characterized by a decrease or at least inhibition of prices, there is an increase in unemployment. With the onset of recovery, prices rise (increased demand for goods) and the unemployment rate decreases.

This relationship can be commented on in another way. As is known, the level of wages and the level of employment are interconnected. As wages rise, employment increases and unemployment (the flip side of employment) decreases. But an increase in money wages means an increase in costs and, consequently, prices. In turn, higher prices usually mean lower unemployment. Rising prices (i.e. inflation) act as a price to pay for reducing unemployment.

Inflation and unemployment are two acute and interrelated problems. The higher the inflation rate, the lower the unemployment rate. The lower the inflation rate, the more people are forced to look for work. This is a real, albeit empirically established picture.

When developing economic policy, one has to choose: either - or (either inflation - or unemployment). In practice, there is a search for the most acceptable combination of two “evils”.

Such famous economists of the 20th century as J.M. Keynes and M. Friedman dealt with the problem of inflation and unemployment. However, Keynes and Friedman had different approaches to solving the problem of the desired combination of inflation and unemployment. Keynes assumes that stimulating money demand (small inflation) will help increase employment and increase production. Friedman argues that a uniform increase in the money supply and the elimination of budget deficits lead to inhibition of inflation, stable economic growth and “normal” employment. Keynes emphasizes flexibility monetary policy and growth of the money supply; Friedman is a supporter of tight monetary and fiscal policies.

The Phillips curve “works” in relatively short periods, periods of rising unemployment and declining production. In a long period, the curve “flies up” and becomes “steep”. In other words, so-called stagflation occurs - the persistence of high unemployment with a simultaneous inflationary rise in prices.

Anti-inflationary measures

The specific methods of curbing inflation, the “dosage” and the sequence of drugs used to treat the economy depend on the correct diagnosis.

To make a diagnosis means to determine the nature of inflation, to identify the main and associated factors that spur the development of inflation processes. Each inflation is specific and involves the use of recipes that best suit the specific conditions and the depth of the “disease.”

Inflation can be monetary or predominantly structural in nature. Its sources may be excessive demand (demand inflation) or rapid growth in wages and prices for purchased materials and components (cost inflation). Inflation can be stimulated as a result of artificially maintaining the exchange rate or as a result of unjustified lifting of restrictions on the prices of the most important raw materials and food products (fuel, agricultural products). In practice, there is not just one, but a complex of causes and intertwined, interconnected factors.

Among the anti-inflationary measures used in practice, we note the following:

Reducing inflation expectations;

Carrying out a course aimed at strengthening the purchasing power of the national currency;

Measures to reduce the budget deficit;

The use of administrative measures (for example, mandatory delivery by exporters of part of the proceeds of currency to the state; restrictive measures on the export of currency abroad, etc.);

Stimulating monetary savings (increasing interest payments, returning part of the savings that “failed” as a result of inflation to special target accounts, etc.);

Improving and simplifying the tax system;

Carrying out a confiscation-type monetary reform (similar reforms with the exchange of banknotes were carried out in January 1991, in July 1993

Measures to devalue the ruble in August 1998).

It is quite obvious that managing inflation in a transitional environment

economy involves resorting to non-standard measures, since

the very nature of inflation, its causes, the nature of inflation expectations, and the degree of trust in the government are specific. In fact, in the conditions of our country we should talk about a special form of inflation generated by rapidly changing conditions, features and contradictions of the transition period.

Question. Macroeconomics as a science. Main problems.

Macroeconomics is a part, a section of economic science devoted to the study of large-scale economic phenomena and processes related to the country’s economy, its economy as a whole.

Macroeconomics and microeconomics are closely related and interact with each other. Microeconomics underlies macroeconomics. A significant gap between these two sciences existed at the dawn of macroeconomics and is gradually narrowing.

The object of macroeconomics is summary, generalizing indicators for the entire economy on a national scale, such as national wealth, gross national and gross domestic product, national income, total public and private investments, inflation indicators, the total amount of money in circulation. At the same time, macroeconomics studies and examines national average economic indicators, such as average income, average wage, inflation rate, unemployment, employment, and labor productivity.

The subject of macroeconomics is generalizing growth indicators, the rate of increase or decrease in values characterizing the country's economy, and the economic processes occurring in it, structural proportions.

Unlike microeconomics, which studies the economic behavior of individual (individual) economic entities (consumer or producer) in individual markets, macroeconomics studies the economy as a whole, examines problems common to the entire economy, and operates with aggregate values, such as gross domestic product, national income, aggregate demand, aggregate supply, aggregate consumption, investment, general price level, unemployment rate, government debt and others.

Objectives of macroeconomics:

Ensuring sustainable economic growth;

Achieving and maintaining full employment levels;

Support of income of the population;

Containing inflation;

Maintaining a stable exchange rate of the national currency and other goals.

Macroeconomics tools:

Fiscal policy, which includes government spending and taxes;

Monetary policy, through accelerating or slowing down the growth of the money supply, increases or decreases the interest rate and inflation, encourages or discourages investment, etc.

Seven macroeconomic problems or the macroeconomic “magnificent seven”:

National product

Employment (unemployment),

Inflation,

The economic growth,

Economic cycle,

Macroeconomic policy of the state,

External interaction of national economies.

Which are constantly changing.

Although macroeconomics does not take into account the processes occurring within macroeconomic markets, the macroeconomics course studies the interaction of these markets and builds, on their basis, theories of general equilibrium across the entire economy and the theory of macroeconomic dynamics (i.e., the theory of economic growth and economic cyclicality).

Macroeconomics studies the scale of the economy (in particular the scale of production and the scale of prices) and changes in the scale of the economy, abstracting from changes in proportions that are studied in microeconomics. Those. macroeconomics will not, for example, be interested in the relationship between the prices of different goods, but will be interested in their joint changes during inflationary processes.

Also, the sphere of interests of macroeconomics includes global quantitative relationships in the economy, while qualitative analysis of these relationships belongs rather to the sphere of interests of General Economic Theory, rather than to macroeconomic analysis. And since macroeconomics only builds models of an applied nature, it should not be blamed for errors associated with the underdevelopment of the theoretical base.

The main methods of macroeconomics are:

Aggregation, i.e. constructing summary indicators that describe the entire economy, for example, instead of many indicators describing individual economic entities and individual markets;

Abstraction, which in macroeconomics means the refusal to analyze individual characteristics and insignificant aggregate indicators;
Verbal and Mathematical Modeling, i.e. presentation of macroeconomics as a set of relationships that can be described by logical and mathematical formulas. Moreover, mathematical models in macroeconomics at the current stage are the main tool for analysis and forecasting.

The goals of macroeconomic modeling are to determine the optimal (equilibrium) state of the economy to which it strives; as well as macroeconomic forecasting, including forecasting such macroeconomic parameters as gross product, price level or inflation, employment or ... I.e. The goals of macroeconomic analysis are social and state in nature, which means that it is representatives of government authorities who should use macroeconomic analysis. They, however, have their own vision of the goals of macroeconomic research, because they demand that macroeconomics (as a science) provide tools for managing the economy so that everything is obedient to the state.

This course consists of two parts:

1) analysis individual markets in macroeconomics (this refers to the analysis of the following macroeconomic markets: the goods market; the labor market; the money market and the capital market);
2) analysis of the interaction of macroeconomic markets in the process of establishing general economic equilibrium, as well as in the process of dynamic changes in the economic system.

We will look at three types of macroeconomic dynamics:

1) economic cyclicality;
2) inflationary process;
3) .

This macroeconomics course is intended primarily for students of economics, but, as you know, it is desirable for everyone to know economics, and in particular macroeconomics! This course was originally created as a standard macroeconomics course for distance learning, but the author very soon noticed that the methods of standard macroeconomics were, to put it mildly, incorrect in some cases. As a result, the standard macroeconomics course was supplemented with non-standard models. And it seems to the author that in this form macroeconomic theory better describes reality.

You can select any topic here, by going to which you will get access to the full macroeconomics textbook and its abbreviated version, as well as examples and models illustrating the macroeconomics textbook; and also tasks for reflection. Registered users of the site also have the opportunity to request advice on macroeconomics. For the convenience of users, we simultaneously include tasks on macroeconomics in a separate section.

Macroeconomics theory

Despite the fact that macroeconomic questions were posed and studied back in the 18th century (starting with the work of D. Hume in 1752, devoted to the study of the connections between the balance of trade and the price level), macroeconomics as a science appeared only in the 30s - 40s XX century. The catalyst for this was the Great Depression of the 1930s, which led to a huge decline in production in most Western countries, thereby creating unprecedented unemployment, as a result of which a significant part of the population of these countries was on the brink of poverty. Democratization that took place after the First World War also played an important role. The democratic government was concerned about the catastrophic decline in the standard of living of the population and needed to develop economic ways to combat the depression.

The appearance in 1936 of the work of the English economist John Maynard Keynes " General theory employment, interest and money" laid the foundation for macroeconomics as an independent economic science. Keynes's central idea is that one is not always capable of self-regulation, as the classics believed, since there may be a certain price rigidity. In this case, the economy cannot independently recover from depression due to the price mechanism, but intervention in the form of stimulation is required. The emergence of the Keynesian approach was subsequently called the “Keynesian revolution” in economics.

It should also be noted that there is one more circumstance that contributed to the development of macroeconomics. This is the emergence of regular national accounts statistics. The availability of data made it possible to observe and describe the dynamics and relationships of macroeconomic phenomena, which is the first necessary step for the development of macroeconomic science.

In the process of development in macroeconomics, two main schools have emerged.

Classical school believed that free markets themselves would lead the economy to equilibrium in the labor market (to full employment) and efficient distribution of resources and, accordingly, there was no need for government intervention.

The Keynesian school proceeded from the presence of a certain inflexibility of prices and, therefore, the failure of the market mechanism in terms of achieving , in particular this related to the presence of disequilibrium in the labor market, at least in the short term. As a result, such failure of the market mechanism requires government intervention, taking the form of stabilization policy.

The Keynesian model described the economy quite adequately and was widely used until the 70s of the 20th century. In the 70s, a new problem arose: a combination of stagnation and high inflation. Many saw the reason for this situation in the government's active intervention in the economy. The so-called Keynesian counter-revolution took place. The answer was a revision of the classical paradigm and the emergence of the doctrine of monetarism, led by its founder Milton Friedman. They returned to the idea of self-regulating markets and made the supply of money central. A stable money supply, rather than continuously changing it to pursue activist Keynesian policies, is the key to a stable macroeconomic situation, according to monetarists. Monetarism gave rise to a new wave of economic theories that were based on the self-regulation of markets and formed neoclassical macroeconomics.

In parallel, an alternative neo-Keynesian direction developed, but now on the basis of corresponding microeconomic behavioral models.

Problems of macroeconomics

Macroeconomics is a science that studies the behavior of the economy as a whole or its large aggregates (aggregates), while the economy is considered as a complex large single hierarchically organized system, as a set of economic processes and phenomena and their indicators. Macroeconomics is a branch of economic theory.

Unlike microeconomics, which studies the economic behavior of individual (individual) economic entities (consumer or producer) in individual markets, macroeconomics studies the economy as a whole. Explores problems common to the entire economy and operates with aggregate values, such as gross domestic product, national income, aggregate demand, aggregate consumption, investment, the general price level, unemployment rate, public debt, etc.

The main problems that macroeconomics studies are: economic growth and its pace; economic cycle and its causes; employment level and unemployment problem; general price level and the problem of inflation; interest rate level and money circulation problems; state, the problem of financing the budget deficit and the problem of public debt; state and problems of the exchange rate; problems of macroeconomic policy.

Methods of macroeconomics

A method is understood as a set of methods, techniques, and forms of studying the subject of a given science, i.e., a specific toolkit for scientific research.

Macroeconomics uses both general and specific methods of study.

General scientific methods include:

Method of scientific abstraction;
- and synthesis;
- method of unity of historical and logical;
- system-functional analysis;
- economic and mathematical modeling;
- a combination of normative and positive approaches.

The main specific method of macroeconomics is macroeconomic aggregation, the combination of phenomena and processes into a single whole. Aggregated values characterize the market value and its changes (market interest rate, GDP, GNP, general price level, inflation rate, unemployment rate, etc.). Macroeconomic aggregation extends to economic entities (households, firms, government, abroad) and markets (goods and services, securities, money, labor, real capital, international, foreign exchange).

In macroeconomics, economic models are widely used - formalized descriptions (logical, graphic, algebraic) of various economic phenomena and processes to detect functional relationships between them.

Macroeconomic models allow us to abstract from minor elements and focus on the main elements of the system and their interrelations. Macroeconomic models, being an abstract expression of economic reality, cannot be comprehensive, therefore in macroeconomics there are many different models that can be classified according to various criteria:

By the degree of generalization (abstract theoretical and concrete economic);
- according to the degree of structuring (small-sized and multi-sized);
- from the point of view of the nature of the relationship of elements (linear and nonlinear);
- by degree of coverage (open and closed: closed - for studying closed; open - for studying international economic relations);
- taking into account time as a factor determining phenomena and processes (static - the time factor is not taken into account; dynamic - time acts as a factor, etc.).

In each macroeconomic model, the selection of factors that would be significant for the macroanalysis of a specific problem in a specific period of time is extremely important.

In each model, two types of variables are distinguished:

A) exogenous;
b) endogenous.

The first ones are introduced into the model from the outside; they are specified before the model is built. This is the background information.

The latter arise within the model in the process of solving the stated problem and are the result of its solution.

When building models, four types of functional dependencies are used:

A) definitional;
b) behavioral;
c) technological;
d) institutional.

Behavioral - show the preferences of economic subjects.

Technological - characterize technological dependencies in the economy, reflect connections determined by the level of development of productive forces, scientific and technological progress. An example is a production function showing the relationship between volume and factors of production:

Institutional - express institutionally established dependencies; determine the connections between certain economic indicators and government institutions that regulate.

Development of macroeconomics

Let us make an important, in our opinion, remark. Everyone has their own optimal level. If this indicator reaches its critical value, then this is bad. For example, zero unemployment, no inflation, full capacity utilization have the same negative impact on the ECONOMY as high unemployment, hyperinflation and idle capacity. The existence of a theoretically optimal level of any macroeconomic indicator is determined by the model of the struggle between supply and demand. In addition, when any indicator reaches its critical values, the economy loses room for maneuver. For example, the money supply can be increased by lowering the interest rate. If she already has null value, then we will be deprived of the opportunity to carry out this corrective effect. Even if this rate is not zero, there is a certain critical value after which its reduction has no impact on the economy. Imagine a car engine that is constantly running at the limit of its capabilities. How long will it work? However, sometimes some countries can, at least temporarily, neutralize the critical values of macroeconomic parameters with original economic decisions. A striking example of this situation is the Japanese economy. In this unique country the discount rate central bank is 0.5%, and inflation is negative, while the Japanese economy is still developing well.

Let us note one more feature of market volatility and inconstancy. If the pace of economic development is too fast, it can quickly become overheated, followed by a recession that is usually as rapid as the previous recovery. Therefore, the task of government regulation is not only to promote economic development, but also to regulate the speed of growth. Uniform economic development can last much longer than rapid growth, and the level and speed of decline will be much less. In addition, with moderate economic growth, the amplitude of fluctuations in parameters around the average (equilibrium) state will be smaller and, therefore, easier to keep under control.

For most macro economic indicators What is important is not their absolute values, but the predictability of changes and the ability to control these indicators. For example, the most dangerous thing is not a high level of inflation, but inflation that is out of control and is not predictable.

In addition, the impact on financial market published economic indicators are determined, again, not by their meaning, but by the expectations of market participants. Thus, if excellent economic indicators have been coming out for a long time, then some market participants may decide that the economy is in excellent condition, while others may decide that it is already in an “overheated” state, after which a recession is inevitable. Time will determine which opinion will win in the market. Moreover, the result of this struggle may in no way correlate with the real economic state of the country. Changes in prices and, especially in exchange rates, that occurred as a result of such a struggle could negatively affect the country's economy. Therefore, it is difficult to make an unambiguous conclusion about what is the root cause of such a situation: the truly “overheated” state of the economy, which led to a recession and the winners in the market correctly guessed this state; or the victory of these participants in the market led to changes in exchange rates, which, in turn, negatively affected the economy.

For macroeconomic analysis, the greatest interest is not the absolute values of certain indicators, but their changes. Therefore, most indicators are published as a percentage relative to the previous period. Usually the comparison occurs with the previous month, quarter, year. And it is the analysis of the direction and rate of change of the indicator, as well as its comparison with changes in other indicators, that makes it possible to predict the development of the economy of a particular country.

Macroeconomics concept

Unlike microeconomics, which analyzes how economic entities behave and how they interact, macroeconomics examines the laws of behavior of the economy as a whole. It would seem that it is known how the individual elements of the whole behave, then it is enough to add them up to get an idea of the whole. Meanwhile, this is not so. When added, new phenomena, concepts, mechanisms and patterns appear that cannot be understood while remaining within the framework of the behavior of consumers and producers. For example, so far we have looked at individual products, of which there are a great many on the markets. Adding up oil, coal, vegetables, grains, banking services, financial transactions, etc., we get a certain amount. It is called the national product, which has no tangible form and exists, it would seem, only in the imagination of economists. Meanwhile, this is a very real concept, and so key that the size of employment and unemployment, the economic power of states, and much more depend on it. Busy people with a keen understanding of business affairs may have little understanding of how the economy as a whole behaves. Meanwhile, their fate largely depends on this, and not just on the market where these firms operate. For example, many now blame this or that industry, this or that enterprise for the fact that they do not work well. But if the entire economy is in deep crisis and stagnation, i.e. works poorly, then blaming individual firms for sluggishness and inability to adapt to new circumstances is not always fair, and sometimes simply ridiculous. Just like blaming an unemployed or low-paid worker for “not wanting to work.” Lazy people, of course, are everywhere, but they don’t make the weather. Very often, people and companies become victims of circumstances over which they have no control. But it would be equally absurd to blame everything on “fate”, the “wheel of history”, etc. Economic science gives every educated person the opportunity to understand why the economy as a whole behaves this way and not otherwise, and even learn to predict how things are going in the entire national economy, and not just in the sector that directly concerns you. Macroeconomics largely depends on the behavior of the state, its macroeconomic policy, and on ongoing and planned reforms. In a democratic society, citizens must understand these issues if they want to actively influence their own destinies and not just be passive objects of experiments by some rulers and politicians. In macroeconomics, not only all products and services are added up, but also their prices and, therefore, income from factors of production. And so it turns out that the general price level is determined not only by the laws of supply and demand we have discussed, but also by certain financial categories, such as the amount of money in circulation, budget deficit, loan interest rate, etc. We already talked about these concepts in the first section, but only in passing. Meanwhile, they deserve special attention, because Not a single market economy, or indeed any economy, can do without them. As a result, monetary and financial flows are formed in the macroeconomy, which seem to oppose the material flows of products. They are not just a passive reflection of material flows, but play an active role and have special patterns, without which it is simply impossible to understand the behavior of the modern economy.

Functions of macroeconomics

Macroeconomics performs the following main functions:

The main economic actors in macroeconomics are:

1. Households;
2. Enterprises and firms;
3. State;
4. Foreign countries (participants in foreign economic relations).

All subjects of macroeconomics, carrying out economic activities, rely on their interests and motives, react to changes in the general and private economic situation, to the actions of other subjects, both internal and external (abroad). When considering the behavior of economic entities, it is necessary as an alternative, meaning the possibility of different (at least two) options for economic behavior in a given situation.

This is due to the possibility and need to obtain alternative (income). The owner of resources (means of production or labor) could have received such a benefit with another, alternative option for their use, if he had not abandoned it (or perhaps if he had noticed it) in favor of the option that actually took place. This feature of the behavior of subjects is important to know and take into account when forecasting economic growth of the macroeconomy in a number of other situations.

Expectations from the perspective of the future are divided into three types:

Objectives of macroeconomics

The economy of any state cannot develop without defining the goal of its development. is one of the main functions of economic policy. In each specific period of economic development, it determines the most important tasks facing the economy.

An economic goal is understood as the main direction of economic development, which is revealed through the assigned tasks.

Over the entire period of development of society, quite a few have been put forward as the most important goals underlying economic policy. a large number of goals. Let's give them a brief description.

1. Economic growth. The named economic goal for implementation requires, first of all, the solution of a number of problems. Economic growth can be achieved through the most efficient use of all available resources and the achievement of the maximum possible employment. Economic growth presupposes that the volume of national production in the current period exceeds the volume of production obtained in the previous period.

8. Trade balance. This goal means that each state, participating in the international division of labor and entering into international ones, should not “live in debt” at the expense of other states, i.e. it is necessary that the quantity of goods sold coincide in price with the quantity of goods purchased from other countries . To achieve this goal, the government must create a system of incentives for national production that make national products competitive in the world market.

To determine the general direction of development of the national economy, the state puts forward one or another goal, or several goals at once.

An important condition for goal setting is their compatibility, since the named goals may contradict each other. For example, if two goals are simultaneously put forward: economic efficiency and full employment, the state will not be able to achieve either of them, or one will be achieved to the detriment of the other. Economic efficiency involves the use best resources supplied by factors of production, while achieving full employment presupposes the employment of everyone who wants to work, although not all production participants will have sufficiently high (equal) qualifications.

Assessment of the performance of the economy based on the implementation of set goals is carried out using the calculation of macroeconomic indicators.

The main macroeconomic indicators are the following:

1. Gross domestic product (GDP).
2. Gross national product (GNP).
3. Net national product (NNP).
4. National Doen.
5. Personal income.
6. Disposable income.
7. Disposable income.

Gross domestic product is the value of final products created over a certain period of time by producers producing in the territory of a given country using factors of production located in the territory of that country. Gross domestic product is equal to gross national product in a closed economy.

Gross national product is the material goods and services produced in the economy over a certain period of time (usually a year) through the use of factors of production owned by citizens of a given country, including on the territory of other countries.

Material goods and services are understood as goods that are purchased during the year for final consumption and are not used as an intermediate product for further processing.

Gross national product is calculated in several forms.

Initially, nominal GNP is calculated - the amount of goods and services produced by a nation during the year, calculated at current prices. This product includes the increase in the product due to the increase in inflation. Therefore, to reflect the real picture, it is necessary to calculate real GNP.

Real GNP is understood as the amount of final goods and services produced by a nation during the year and calculated taking into account inflationary increases in prices.

In addition, to regulate the economy, another indicator is calculated, which makes it possible to develop the main directions in regulating the economy - potential GNP.

Potential GNP is the amount of goods and services that could be created if the economy had the most rational distribution of product and the maximum possible employment. This is impossible in a market economy, so this indicator is calculated as a theoretical value desirable for the economy. The difference between potential and actual GNP is the GNP deficit. The task of the state economy is to reduce the GNP deficit.

Even the real BHII has significant errors, since it includes repeated counting, i.e. for one industry the product created by it is final, but for another it is intermediate or raw material. If we are freed from re-counting, we will get the net national product (NNP).

Net national product (NNP) is equal to the difference between real gross national product (GNP) and depreciation charges (A).

Depreciation charges (A) are understood as those made for the restoration of fixed capital spent in the production process, i.e., funds necessary to replace equipment, machinery and mechanisms worn out during the reporting period (year).

NNP=GNP-A.

The gross national product is calculated in two main forms: in natural material form and in monetary or value form.

The cost form of GNP makes it possible to compare the functioning of the economy in different periods.

The natural-material form of GNP allows for the distribution of the product into personal consumption, industrial consumption and government consumption. All manufactured product is produced for the purpose of consumption by three main entities: households, firms and the state. If a society produces more of a personal consumption product, then households should receive income sufficient to consume the entire product produced. If a society has created more products for state consumption, then with the help of taxes, income will be redistributed in favor of the state so that the product is also fully consumed, and “extra” money does not accumulate in the hands of other entities due to the lack of opportunity to spend it.

Another important indicator is the national one - the amount of goods that was created by the nation during the period of its existence.

One of the central categories of macroeconomics is the price level (P). In macroeconomics, there is an indicator characterizing the level of price changes. It is calculated as the ratio of the sum of prices of consumer goods of the current period to the sum of prices of consumer goods of the previous period. Consumer price index:

P0 - the sum of prices of consumer goods over the past period;
?P1 is the sum of prices of consumer goods for the current period.

All NNP consists of goods and services for personal and industrial consumption. Goods and services produced for personal consumption are called consumer goods, and the prices set for them are called consumer prices.

It should be noted that the range of consumer goods includes a number of products necessary for normal consumption. Their minimum set is called the “consumer basket” (?P). The calculation of the consumer basket serves to determine the minimum pension, benefits and other social payments controlled or carried out by the state.

By calculating the consumer basket, the inflation rate is determined.

Net national product includes enterprise profits and wages.

After paying payroll taxes, the population receives personal income in the form of nominal wages - a sum of cash.

Personal income is not the amount of money that a person can spend, because in society there are taxes and mandatory payments that each income recipient must pay.

If we subtract all taxes and mandatory payments and add direct transfers, then we will get disposable income, i.e. the amount of money that a person can spend at his own discretion.

In addition to direct transfers in the form of pensions and scholarships, there are indirect transfer payments in the form of maintaining socially low prices for a number of products, for transport, medicine, and education, in order to make these benefits more accessible.

Direct and indirect transfers refer to government expenditures to maintain normal standard of living various categories of the population, carried out without taking into account labor costs.

Disposable income is also influenced by a number of factors:

Self-service;
self-sufficiency;
;
ecology;
leisure.

For example, self-care and self-sufficiency lead to an increase in disposable income based on creating services for oneself (laundry) or products (vegetables and fruits grown in the country).

Deterioration of environmental indicators, on the contrary, leads to an increase in costs associated with maintaining health.

Object of macroeconomics

The modern science of a socially regulated market economy has been created over more than half a century in two stages. First, a theory was formed that explained the behavior of a market subject within the framework of local market. This outlined the sphere of private business. The emergence of microeconomics and the microeconomic theory that studies it marked a qualitative leap in the development of economic science, because it was microeconomics that reduced the behavior of individual producers and consumers to the rational market logic of the actions of the buyer and seller - to the desire to achieve the maximum net benefit.

Macroeconomic theory is the most complex and, at the same time, important section of economic science. Within the framework of economic theory, macroeconomics is represented as a set of aggregated economic indicators. Macroeconomics is a branch of economics that studies economic phenomena such as inflation, labor productivity growth rates, interest rates, unemployment, and economic growth. For the analysis of macroeconomics, three methods are important: “mathematical”, “balance sheet” and “statistical”. The main parameters of macroeconomics are quantitatively measurable. This is why macroeconomic models take the form of mathematical equations. Macroeconomic models are balanced, which assumes that all markets ensure equality in sales volumes of production, income and expenses, aggregate demand and aggregate supply. And although in reality such macroeconomic equilibrium is unattainable, it is the desire for an equilibrium state that distinguishes macroeconomics from microeconomics.

Indeed, temporary disequilibrium in the micromarket provides superiority to either the buyer or the seller. But in macroeconomics, such disequilibrium brings only losses to society. Thus, only balance can provide macroeconomics with efficiency. The specificity of macroeconomic analysis is determined by those processes and problems that are detected only at the macroeconomic level and which can only be solved by macroeconomic means. It's about about the interdependence of seven macroeconomic parameters - employment, aggregate demand, aggregate supply, national income, inflation, economic growth, business cycle. Within the macroeconomic approach, the economy appears as a single, extremely generalized market in which “one total buyer” (consumer), spending “a single total income,” and “one total seller” (producer), incurring a “single total expense,” interact. This aggregate seller produces a single aggregate product that is equally suitable for personal and productive consumption.

In macroeconomics, the two subjects of the market economy are joined by two new ones: “state” and “abroad”. Doubling the number of subjects and the specific problems arising from this complicate macroeconomic analysis; it is carried out in two stages: first, the specifics of the functioning mechanism of each market separately (the market for goods, labor, money and securities) are clarified, and then all these markets are balanced within the framework of a single macromarket.

Market models are divided into “statistical” and “dynamic”. A statistical model is a kind of “freeze frame” that captures economic process in its original and final state. The transition itself from the initial to the final state is not reflected in statistical models. The fundamental concept of macroeconomic theory is the category of “economic equilibrium”. Macroeconomic equilibrium means a state of the national economy when equality of supply and demand is simultaneously established in all markets. Economic equilibrium occupies a central place in macroeconomic theory because it expresses the optimal state of the economy and therefore forms a criterion for an objective assessment of the real situation in the country's economy. The movement towards economic equilibrium is the desire for equilibrium prices, full employment, overcoming inflation and sustainable economic growth. At the same time, it should be recognized that macroeconomic equilibrium is only an ideal structure; in reality it is not achievable. As initial and mandatory prerequisites macroeconomic equilibrium The following conditions are accepted:

1. equality of volumes of total production of goods and total purchase and sale of goods (everything that is produced is sold);
2. none of the economic entities is interested in changing the volume of their market transactions;
3. Failures in production and delays in the sale of goods are excluded.

Basic macro economic problems Macroeconomics is a science that studies the economy as a whole, as well as its most important sectors and markets. The term “macro” (large) indicates that the subject of study of this science is large-scale economic problems. Macroeconomics represents one of the youngest and most promising branches of economic theory. Macroeconomics began to take shape as an independent scientific discipline in the 30s of the twentieth century. Its origin is associated with the name of the outstanding English economist John Maynard Keynes (1883-1946). His main approaches to the study of macroeconomic processes are set out in his work “The General Theory of Employment, Interest and Money” (1936). In this work, Keynes examined the main macroeconomic categories: the volume of national production, the level of prices and employment, consumption, savings, investment, etc. However, macroeconomic analysis itself appeared much earlier. The first attempt to describe macroeconomic patterns was made by a representative of the French school of physiocrats, Francois Quesnay (1694-1774). For the first time in economic theory, he introduced the concept of “reproduction” as a constant repetition of the process of production and sales. A description of the reproduction process is contained in the “Economic Table” (1758) and in the comments to it (1766). Quesnay's "Economic Table" is the first macroeconomic model that identifies the main large-scale proportions in the economy. A significant role in the development of macroeconomic analysis was played by the schemes of simple and expanded reproduction of capital.

Marx (1818-1883), general equilibrium theory of Leon Walras (1834-1910). In the 30s of the twentieth century, many scientists, independently of Keynes, made attempts to carry out macroeconomic analysis. In particular, the famous Norwegian scientist, Nobel Prize laureate in economics Ragnar Frisch (1895-1973) is at the origins of the concept of “macroeconomic”. It was he who outlined the research program for this discipline. In the article “Problems of Contagion and Problems of Momentum in Economic Dynamics” (1933), Frisch distinguishes between micro- and macroeconomic analysis. He also proposes and himself uses the method of macroeconomic analysis of fluctuations, which allows one to build a theoretical model and study the correspondence of its results to real facts.

Mention should also be made of the Dutch Nobel Prize-winning economist Jan Tinbergen (1903-1994), who built his country's first macroeconomic model before doing more extensive research for the League of Nations in 1939. Many aspects of macroeconomics were developed by such scientists as J. K. Galbraith, E. Domar, S. Kuznets, V. Leontiev, G. Myrdal, P. Samuelson, I. Fisher, M. Friedman, E. Hansen, R. Harrod et al. Internationally recognized results in macroeconomic research were also obtained by domestic scientists, among whom, first of all, D. Kondratiev and V.S. Nemchinov. The focus of macroeconomics is on the following main problems: ensuring economic growth; general economic equilibrium and the conditions for its achievement; macroeconomic instability, measurement and control methods; determining the results of economic activity; the state of the state budget and balance of payments of the country; cyclical nature of economic development; optimization of foreign economic relations; social protection population and others.

To understand the subject of macroeconomics, it is necessary to distinguish between expost macroeconomic analysis, or national accounting, and ex ante analysis - macroeconomics in the proper sense of the word. National accounting (ex post) determines the macroeconomic position of the economy in the past period. This information is necessary to determine the degree of implementation of previously set goals, develop economic policy, comparative analysis economic potentials of various countries. Based on ex post data, existing macroeconomic concepts are adjusted and new ones are developed. Analysis (ex ante) is a predictive modeling of economic phenomena and processes based on certain theoretical concepts. The purpose of such an analysis is to determine the patterns of formation of macroeconomic parameters. Macroeconomics provides certain recommendations for developing state economic policy based on an analysis of real economic parameters.
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