Economic Theory

. , , . 1: , , . . , 1997 2004. . . : Begg, D., - Fischer, S., - Dornbusch, R., (1998), , ' ', . Mankiw, G., (1998), , ' ', Guttenberg. Dornbusch, R., - Fischer, S., (1993), , . Hillier, B., (1996), , Guttenberg. Varian, H., (1992), , , ' ', . Krugman, P., - Obstfeld, M., (1995), , , ' ', . 1 (http://eeep.pspa.uoa.gr/econ), .

2

1.

2.

2.1 ...

2.2... .

2.3 ,

;

2.4 ;

2.5 .

2.6

;

2.7

;

2.8 .

2.9 ;

2.10 ;

2.11 .

2.12 .

2.13 .

2.14 .

2.15 .

2.16 .

3. .

3.1 .

3.2 .

3.3 .

3.4

3.4.1 .

3.4.2

3.4.3

3.4.4 .

3.5 .

3.6 .

3.7 .

3

4. .

4.1 .

4.2

.

5. .

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6

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7

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= 2/ 1=- MU1/ MU2 (2)

2.5

,

9

. m. 1 2, 1 2 , :

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, , :

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3, 2 1 . , -P1/P2.

2.6 ;

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10

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13

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2.9 ;

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14

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2.10 ;

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15

U2 1. , , .

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16

2 . 2 2 2', m/P2 , .

2 2 2', m/P2 , (-P1/P2).

17

2.11 .

, . 1. , , 2 1 ( ).

( ). .

18

2.12

, , (ceteris paribus). . . :

(5) Qd=a-bP, b>0,

Qd P .

2.13

, , . :

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2. ( ). , , . () ( ) . () ( ) . ( 23)

19

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4. ' () , ( ). ( 23)

5. ( ). () , ( ). ( 23)

20

2.14 .

, . , , ( ). . , , .

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, :

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2. |Ed|

4. |Ed|=0, . ( 27)

5. |Ed|=, . ( 28)

22

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2.15

, , . , , , , .

23

2.16

.

(7)Ey=DQ/Q:DY/Y

H , . , , . . , , . .

. , , "" , . , , , . , , .

( ). , . . , , . , , , () . .

24

, , , - .

3.

-, , - , . .

, . . , . .

3.1 .

1, 2, ... , :

(8)y = f(X1, X2 ...X)

25

:

1. (Total Product -P ): .

2. (Average Product-): . : (9)=/1.

3. (Marginal Product-): , . (10) =()/1.

3.2 .

, , . .

26

3.3 .

, , . (Total Cost-TC) (Fixed Cost-FC) (Variable Cost-VC).

(11) TC= FC+ VC

3.4

. :

27

3.4.1

:

1. . 2. 3. 4. 5.

, . , (MR). . . , . , . , . , , . (P).

(16)C=MR=P.

. .

3.4.2

, . . , , , . . ,

28

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29

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30

3.6 .

, . :

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2. () , ( ). ( 35)

3. , , () , ( ). ( 35)

4. () , ( ). ( 35)

31

3.7 .

, :

(18)Es=DQs/Qs:DP/P.

. :

1. Es>1, , , . ( 37)

2. Es

4. Es=oo, , , . ( 38)

5. Es=0, , , . ( 39)

.

4. .

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33

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4.1 .

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34

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4.2 .

, Pareto . Pareto , . () .

35

...

O Vilfredo Pareto 1948 . , . , , . (utility), , , , , ' (ophelimity).

http://cepa.newschool.edu/het/profiles/pareto.htm

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1

1.1. ;

1. 2 ;

1.3. .

2.

2.1

2.2

2.2.1

2.2.2

2.2.3

2.2.4

2.2.5 .

2.2.6 .

3

3.1

3.1.1

3.1.2. .

3.1.3

3.1.4

3.1.5.

3.1.5.1 .

3.1.5.2 ...

3.1.5.3 ... .

3.2. .

3.3. : o IS-

LM.

38

3.3.1 IS (I)

3.3.2 IS (II).

3.3.3 IS (III):

3.3.4 IS

3.3.5 H LM (I)

3.3.6 LM (II): H

3.3.7 H LM (III)

3.3.8 LM (IV):

LM.

3.3.9 - & .

3.3.10

3.3.10.1 :

3.3.10.2 :

3.3.11

3.3.11.1 & IS.

3.3.11.2 & .

3.3.11.3 : .

4. & .

4.1

.

4.2

4.3

.

4.4

.

5. & .

5.1 phillips ()

5.2 phillips ().

5.3 phillips

5.4 phillips.

5.5 phillps;

39

6. .

6.1 .

6.2 .

40

1

1.1. ;

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1. 2 ;

, (stability) (growth) . , (aggregate variables), , , .

1.3.

(Labour Force) .

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41

, , ( , ) . , ( = / ). , , , . (European Commission, (2005), The contribution of wage developments to labour market performance) 15-64 (47% 1970-2004 25%), 57% 65% . 1: ( -25)

: European Commission (2005), Employment in Europe 2005 : Recent trends and Prospects. (Unemployment Rate)

, . : = / 2.

2 :

= / + . :

= +

42

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: European Commission (2005), Employment in Europe 2005 : Recent trends and Prospects

43

(Employment Rate) .

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: European Commission (2005), Report on the Lisbon National Reform Programmes 2005.

44

4: &

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. .

& , . . ( 1, ), ( L) , . ( 2, ), . , .

45

, ( ). , . , . ( ), ... ... "World Economic Outlook Globalization and Inflation", (IMF (2006) World Economic Outlook: Globalization and Inflation ), , . ( 2002-2005 30 ), , . . , , , , , . . , , . , . . , . , ( 1% 0,1%, 1% 0,1%).

46

5: ( ).

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() .

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47

(!). , , , . , . , . 6 :

: European Commission (2005), Employment in Europe 2005 : Recent trends and Prospects (Gross National Product):

, .

(Potential Output):

(potential output) , , , .

(Actual Output):

() , .

(Output Gap):

. :

(C), (I) ( , S=I) (G).

48

()

, . , . (C) (S).

(T) (G) (B).

49

(S) () (S=I (4)),

: (3), (4) => S+T=I+G+B => I+G=S+T-B (5)

(5) (I+G) (S+T-B) .

(Consumption): (, ) .

. , , : 1. () ( , , ). 2. ( ) . , , . 3. ( ), , ( ). : 1. : , . 2. : , ( ).

50

3. : . 4. 7: & ( )

: OECD (2005) ECONOMIC OUTLOOK 2005, NO 78 (Saving):

. ( ). , , . , . 1980 . , , . 8: (% )

: OECD, (2005): ECONOMIC OUTLOOK 2005, NO 78 (Investment):

. : , . ( ,

51

), : 1. 2. ( ) 3. () 4. 5. 6. () (.. ) 7. 8. . 8. 9. 9:

: EUROPEAN COMMISSION (2005) ECONOMIC FORECAST 2005-2007 10:

: EUROPEAN COMMISSION (2005) ECONOMIC FORECAST 2005-2007 11:

: EUROPEAN COMMISSION (2005) ECONOMIC FORECAST 2005-2007

52

: .

(Fiscal Deficit):

() ().

, 7 1992. :

, , . , , 2 , . , , , () . , 3% 60% . 60% , .

ECOFIN . , 16 17 1997. , 3%, , 60% .

(Stability and Growth Pact) - .

53

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54

(Fiscal Debt): .

: .

1 1998 . H EKT - , 1999. , . , , - , , , - .

55

() (Harmonised Index of Consumer Prices) 2% (0% - 2%). 2% .

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1999

1/5/

1999

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1999

1/1/

2000

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2000

1/9/

2000

1/1/

2001

1/5/

2001

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2001

1/1/

2002

1/5/

2002

1/9/

2002

1/1/

2003

1/5/

2003

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2003

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2004

1/5/

2004

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2004

1/1/

2005

1/5/

2005

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2005

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2006

:

56

(Money Demand): , , .

(Money Supply): (

- - ) ( ), ( , , )

1 1998 , , . - . . , - . , . - ... . , Bundesbank. Bundesbank Bundesbank. Bundesbank, , , - ... - . , , . - . , , - .

57

, .

.

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58

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: .

1. ; , .

59

( ) . , , , . , , () . , () . ( ) , . ( ), ( ), , . , , , , . , , . , . , , . 2. 1990, , "" . 1995 " ", . , 11% 1994, 4% 1997. " " . 1994 , . , , . " ": , . . , , . 1998, , , 12,3%. ( ) ( +/-15%).

60

: .

2. 1.

2.1

1. 2. ( ) , 3. 3.

2.2

2.2.1

(L), () .

Y=f (Ld)

, , .

2.2.2 . . (W/P), . (L*) , (W/)* . 3 , , .

61

, , ( ). . , ( - - ). 2.2.3 (L*), (Y*=f(L*)), (S) . ( ).

62

2.2.4

( ) . , () (V ).

: M V= PY (1) M: Y: V: P: , () () (1).

2.2.5 . (AS) (D) (*) (*). . Say, .

63

Jean-Baptiste Say, 1767-1832. Say (laissez fair). " ", "" . , . " " ( Say), , . 2.2.6 . , , . , (), .

, , (*- ).

64

, (W) ( ), , (W/P) . , .

( , , ) ( , ), (, ). (, ) ( , ). (, ) ( ), .

Adam Smith, David Ricardo, Thomas Malthus John Stuart Mill. Adam Smith " " (1776). , . , : ; " " Adam Smith . 3 3.1 () , o . () ( ):

65

, . , : =. 1: .

John Mayard Keynes

John Mayard Keynes 1883. , , 1929. , Keynes Treatise on Money, . Treatise on Money, . Keynes ( 1929), . 1929 " " (The Pure Theory of the Money), 1932 " " (The monetary theory of production). , . , () . , , . .

66

3.1.1. , :

(C), ( --), (b) (a), .

C=a+b (Y-T)

, ( ) : =^

(G). 4:

3.1.2. .

, () (, ). , .

5:

67

3.1.3 ( 6), , ( ) . 6: .

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7:

3.1.4. , , ( ): 1. (G). G, ( ) .

68

9:

2. (T). (-), ( ). , . . 11: .

3. ( ). (=C+I^+G), (C=a+b(Y-T)). ... .

69

3.1.5. 3.1.5.1 , : 1. : ( , ). , , . 2. , . 3. , . 3.1.5.2 ... , - . () (r), , . , ( ) . 13 :

70

- , . , . () . , . , , , , . ( ) . , . 3.1.5.3 ... . , =C+I(r)+G. , () .

, :

1. ( , ), ( , ). .

71

2. (r) - (). , , . IS, () .

17: IS

3.2. . , (.. ), (.. W/P) . ( ) . , . , , (W/P) . , , . 3.3. : O IS-LM IS-LM (r) () ( IS) ( LM) .

72

3.3.1 IS (I) IS . , () (-S) (-).

= S =

:

=C+I+G => Y-C-G=I (1) :

() . () () . 3.2 IS (I). , , - ; , (Y-C-G), . ( ), (). , (2), (), , (), .

Y-C-G=I(r) (2)

, , IS, . , , .

73

19: IS

3.3.3 IS (I): (Y-C-G=vI(r)). , ; , ( ):

, 1. I,r 1, . () () . 21:

. ..................... .....................................................

74

3.3.4 H IS , , , ( ). IS .

(--C) + (T-G) =I(r)

22: IS

() . , , , ( ). IS . 23: IS r

3.3.5 LM () LM , . (M/P)s (M/P)d.

75

3.3.6 LM (): :

(dy), . (), .

(Mdr), . , , . (ld) .

:

1. ld

2. ld=0, .

26: .

3. ld=, .

27:

3.3.7 LM () , :

(M/P)s = (M/P)d => (M/P)s=Mdy +Mdr (4)

(M/P)s, ( Y1 2) (Mdy). (4), ( r1 r2)

77

(Mdr). . LM. 29: LM

3.3.8 LM (V): LM. LM , ((M/P)s=Mdy +Mdr). ((M/P)s), () , ( , ). , (M/P)s1 (M/P)s2, LM . 32: LM .

. , LM , ,

78

. 33: LM .

3.3.9 - & . IS - . LM - . , (- ) . 34: : IS-LM.

35, (r1, Y1). , r2 2. IS ( LM), . r2 3(>2), . , ( r2) , . , ( ) ,

79

. , . 36: .

3.3.10 (r1,Y1) ( 38). ( ). IS (r2,Y2). , ( ). , ( ). , , . , , . 40: .

,

80

. ( ), , . ( ), ( ). 41: .

3.3.10.1 : ( r1 41) . ( ) IS , ( 1 2). , , 42 . ( ) . , , . ( ) ( ) "" , .

81

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).

), .

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44:

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82

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56 : Phillips .

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58 : Phillips

88

Phillips : , . , , , . 1970 Phillips, ().

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60 : Phillips.

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1.4 .

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.

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97

aLc * Qc +aLw * Qw =L , : aLc , . aLc/aLw. 1.

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