1. Definition: Is a systematic record of communication translation between residents of 1 country and foreign residents in a certain period.
2. SUPPLY
2.1. Aggregate supply curve
2.1.1. Long-term
2.1.1.1. Shape: Upright
2.1.1.2. Depends: K, L, N, A
2.1.2. Short-term
2.1.2.1. Shape: sloping up
2.1.2.2. Dependent
2.1.2.2.1. 4 factors make ASLR shift above L, K, N, A
2.1.2.2.2. Nominal salary
2.1.2.2.3. Price of input materials
2.1.2.2.4. Weather changes (shocks)
2.2. DEFINITION
2.2.1. Supply is the quantity of a good or service that sellers are willing and able to sell at different prices in a given period of time.
2.3. Supply shock:
2.3.1. Solutions
2.3.1.1. Adaptation policy
2.3.1.2. Price stabilization policy
3. Balance of payments table
3.1. How to take notes
3.1.1. Any transaction that causes foreign currency to flow in Vietnam marked + (Yes)
3.1.2. Otherwise, write a minus sign (Debit)
4. Aggregate demand AD
4.1. Concept: quantity of GOODS and SERVICES produced in countries where economic agents are willing and able to ability to buy at each price.
4.2. CACULATION: AD = Cd + Id + Gd + X = C + I + G + NX
4.3. Aggregate demand curve
4.3.1. The slope of the aggregate demand curve
4.3.1.1. Wealth effect
4.3.1.2. Interest rate effect
4.3.1.3. International substitution effect
4.3.2. The movement and displacement of the aggregate curve bridge
4.3.2.1. Movement: depends on the endogenous variable ie the price level P
4.3.2.2. Displacement: AD changes the change per core constituent element
4.3.2.2.1. CHANGE C
4.3.2.2.2. CHANGE G
4.3.2.2.3. CHANGE NX
4.3.2.2.4. CHANGE I
5. Exchange rate
5.1. Nominal exchange rate
5.1.1. Definition: is the rate of currency exchange between 2 countries
5.2. Actual exchange rate
5.2.1. Definition: is the rate of exchange of goods between 2 nation
5.3. Exchange rate system
5.3.1. Floating exchange rate system: completely decisive by supply and demand of foreign currency, not subject to interference any.
5.3.2. Fixed exchange rate system: exchange rate set by the central bank fixed at a specific level E0 When Ecb > E0: Oversupply, The central bank must buy foreign currency to stabilize the exchange rate Ecb < E0: Excess demand, central bank needs to sell foreign currency to stabilize the exchange rate
6. Inflationary
6.1. concept: the continuous rise of the price level Inflation ~ inversely with purchasing power of coin. Deflation: the aging rate continues to decrease >< Inflationary
6.2. Classify
6.2.1. Moderate inflation
6.2.2. Hyperinflation
6.2.3. Hyperinflation
6.3. Reason
6.3.1. Short-term
6.3.1.1. Demand-pull inflation: equivalent to 1 shock bridge
6.3.1.2. Inflation inertia: depends on psychology and expectations people
6.3.1.2.1. Cost-push inflation: equivalent to 1 shock bow
6.3.2. Long-term
6.3.2.1. Currency inflation: M.V=P.Y
7. Currency
7.1. Definition: anything that is generally accepted in payment…
7.2. Function
7.2.1. Medium of exchange
7.2.2. Store value
7.2.3. Accounting unit
7.3. Types of coins
7.3.1. Commodity money
7.3.2. fiat money
7.4. Money measurement: breakdown by liquidity
7.4.1. M0: cash (or Cu)
7.4.2. M1: M0 + D (D is a possible demand deposit write checks)
7.4.3. M2: M1 + Term Deposit
7.5. Money supply
7.5.1. MS = Cu + D(deposit)
7.5.2. Money supply model
7.5.3. Influential factors
7.5.3.1. Money base
7.5.3.2. Reserve ratio
7.6. Money base
7.6.1. B = Cu(cash outside the banking system) + R(estimated reserves of commercial banks)
7.6.2. Definition: the amount of money issued by the central bank (also called hard money)
7.7. Monetary Policy
7.7.1. Open Market Operations (most common)
7.7.2. Required reserve ratio rrr
7.7.3. Discount rate
7.8. Equilibrium money market
7.8.1. Money demand:
7.8.1.1. Trading engine
7.8.1.2. Spare engine
7.8.1.3. Speculative engine
8. Targets
8.1. Gross Domestic Product (GDP)
8.1.1. Concept: GDP is the market value of all final goods and services produced within a country for a certain period of time
8.1.2. Calculation:
8.1.2.1. Spending method (important, popular most) GDP = C + I + G + X – IM = C + I + G +NX = Cd + Id + Gd + X
8.1.2.2. Income method GDP = w + r + i +π +Te + Dep Net income at factor cost =w + i + r + π
8.1.2.3. Production method (value added VA) (commonly used) GDP = VA = ∑(Revenue-expenditure fee)
8.1.3. Classify
8.1.3.1. Nominal GDP
8.1.3.1.1. Concept: value of output of goods and services calculated at current prices.
8.1.3.1.2. Calculation: GDPn(t) =∑_(i=1)^nqi(t).pi(t)
8.1.3.2. Real GDP
8.1.3.2.1. Concept: value of output, goods and services base year price
8.1.3.2.2. Calculation: GDPr(t) = ∑_(i=1)^nqi(t).pi(o)
8.2. gross national productt_GNP
8.2.1. Calculation: GNP = GDP + NFA with NFA=value (Vietnamese working abroad-foreigner) production in Vietnam) = difference in net income from abroad outside
8.2.2. Yd = C(consumption)+S(accumulation) = Y – Income Tax Td + subsidize Tr
8.3. Net National Product NNP
8.3.1. NNP = GNP – Dep = added value The economy produces goods and serv
8.4. National Income_NI
8.4.1. NI = NNP – Te (Te is an indirect tax)
8.5. Application input_Yd
8.6. Consumer Price Index_ CPI
8.6.1. Concept: average price of the cart goods and services a typical consumer buying
8.6.2. Caculation: CPIt = (∑_(i=1)^nq i(o).pi(t))/(∑_ (i=1)^nq i(o).pi(o)).100
8.6.3. Inflation rate (π): πt = (CPIt- CPI(t-1))/(CPI(t-1)).100% = (Dt- D(t-1))/(D(t-1) ) .100%
9. Unemployment
9.1. Concept
9.1.1. It is necessary to distinguish the unemployed (need work but have no) with outsiders amount of labor (no need for work)
9.2. Classify
9.2.1. Natural unemployment
9.2.1.1. always exists, cannot be eliminated, is the level of loss industry that the economy is aiming for in the long run
9.2.1.2. Classify
9.2.1.2.1. Temporary Unemployment
9.2.1.2.2. Structural Unemployment
9.2.1.2.3. Unemployment according to the Classical Theory
9.2.2. Cyclical unemployment
9.2.2.1. Unemployment is associated with economic fluctuations in short term. Appears when actual output below potential output (recession)
10. Fiscal policy
10.1. Objectives: economic growth, limit loss industry, stabilize inflation
10.2. Classify
10.2.1. Extend
10.2.2. tighten
10.2.2.1. : Reduce G or Increase Tax
11. Overview of Macroeconomics
11.1. Concept:
11.1.1. the study of characteristics, structure, and behavior of the whole economy as a whole
11.1.2. is a branch of economics
11.2. Research object and method
11.2.1. gross product
11.2.2. Jobs
11.2.3. Inflation
11.2.4. Growth