거시 4 - Money and the Central Bank Quantity Theory of...

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Money and the Central Bank Quantity Theory of Money More on the Market for Money The Cost of Inflation Ch. 4 Money and Inflation K Chung School of Tech. Mgmt., UNIST GMT 321 Macroeconomics GMT 321 Macroeconomics K Chung Ch 4 Money & Inflation STM, UNIST
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Money and the Central Bank Quantity Theory of Money More on the Market for Money The Cost of Inflation In this chapter, we learn: The Classical Theory of Inflation causes e ff ects social costs Classical assumes prices are flexible & markets clear Applies to the Long Run GMT 321 Macroeconomics K Chung Ch 4 Money & Inflation STM, UNIST
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Money and the Central Bank Quantity Theory of Money More on the Market for Money The Cost of Inflation Outline 1 Money and the Central Bank Money and Prices Money Supply and Monetary Policy 2 Quantity Theory of Money Quantity Theory Related Concepts Quantity Equation 3 More on the Market for Money Nominal vs Real Interest Rates Money Demand Function Inflation Expectations and the Price Level 4 The Cost of Inflation The Cost of Inflation Classical Dichotomy GMT 321 Macroeconomics K Chung Ch 4 Money & Inflation STM, UNIST
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Money and the Central Bank Quantity Theory of Money More on the Market for Money The Cost of Inflation Money and Prices Money Supply and Monetary Policy Outline 1 Money and the Central Bank Money and Prices Money Supply and Monetary Policy 2 Quantity Theory of Money Quantity Theory Related Concepts Quantity Equation 3 More on the Market for Money Nominal vs Real Interest Rates Money Demand Function Inflation Expectations and the Price Level 4 The Cost of Inflation The Cost of Inflation Classical Dichotomy GMT 321 Macroeconomics K Chung Ch 4 Money & Inflation STM, UNIST
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Money and the Central Bank Quantity Theory of Money More on the Market for Money The Cost of Inflation Money and Prices Money Supply and Monetary Policy Inflation and Its Trend, 1960~2009 GMT 321 Macroeconomics K Chung Ch 4 Money & Inflation STM, UNIST
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Money and the Central Bank Quantity Theory of Money More on the Market for Money The Cost of Inflation Money and Prices Money Supply and Monetary Policy The Connection b/w Money and Prices Inflation rate = the percentage increase in the average level of prices Price = amount of money require to buy a good Prices are defined in terms of money need to understand the properties how it is supplied and controlled GMT 321 Macroeconomics K Chung Ch 4 Money & Inflation STM, UNIST
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Money and the Central Bank Quantity Theory of Money More on the Market for Money The Cost of Inflation Money and Prices Money Supply and Monetary Policy Money Definition : Money is the stock of assets that can be readily used to make transaction Functions : Medium of Exchange: used to buy/sell g&s Unit of Account: a common unit by which everyone measures prices and values Store of Value: transfers purchasing power from the present to the future Types : Commodity Money: has intrinsic value e.g. shells, precious metal, livestock Fiat Money: has no intrinsic value e.g. paper currency GMT 321 Macroeconomics K Chung Ch 4 Money & Inflation STM, UNIST
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