文档介绍：Macroeconomic And Industry Analysis Ding zhaoyong The Global Economy The national economic envirement The global political environment and risk The political and economic issues Exchange rates between host country and other countries affect the petitiveness of its industries. The Domestic Macroeconomy Gross domestic product(GDP) and industrial production Unemployment rate and capacity utilization rate Inflation Interest rate Budget deficit--crowding out private borrowing/investing Sentiment----influence consumption,investment and AD. Demand and Supply Shocks Demand shock Is an event that affects the demand for goods and services. Demand shocks are usually characterized by aggregate output moving in the same direction as interest rates and inflation. Supply shock Is an event that influences production capacity and costs. Supply shocks are usually characterized by aggregate output moving in the opposite direction as inflation and interest rates. Government Policy Demand-side policy Focus on part of fiscal policy and ary policy Fiscal policy refers to the government’s spending and tax action ary policy refers to the manipulation of the money supply Supply-side policy Business Cycle The business cycle The recurring pattern of recession and recovery of economy is called the business cycle. The relative performance of different industry groups vary as the economy passes