文档介绍：Business cycle
经济周期
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employment(充分就业)
-level stability(物价稳定)
growth(经济增长)
balance(外部均衡)
Macroeconomic stability:
经济稳定:
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Our long-run economic growth has not been steady. Rather ,it has been interrupted by periods of economic instability.
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Figure
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Terms:
Growth trend:增长趋势
Peak :经济周期最高点
Recession:衰退
Trough:经济周期谷底
Recovery:复兴
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Business cycle(经济周期): the cyclical increases and decreases in the level or rate of growth in economic activity that typify the pattern of progress of our economy’s real GDP over time.
经济周期:表示经济发展状况的实际GDP的增长水平或增长率呈周期性的增加或减少的现象.
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The phases of the business cycle 经济周期的阶段:
:经济周期最高点
or depression:衰退或萧条
:经济周期谷底
:复苏
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The causation of economic fluctuations 经济周期性波动的原因:
Innovation (创新)
Political and random events(政治和偶然事件)
purely ary phenomenon(纯货币现象)
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Case study:
鲁滨逊的故事
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Non-cyclical fluctuations(非周期性波动)
并不是所有经济活动的变化都是由于经济周期,还有非周期性的波动,还有:seasonal variations in business activity(经济活动的季节性变化).
For example: Christmas buying
Business activity is also subject to a secular trend(长期趋势).
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