课程名称︰总体经济学一
课程性质︰必修
课程教师︰梁明义
开课学院：社会科学院
开课系所︰经济学系
考试日期（年月日）︰104年元月12日
考试时限（分钟）：160分钟
试题 :
1.(10%) The simple Keynesian model 因暂不考虑“货币面”，比较能突显出“实质部门”的一些运作力量(forces at work)。试以 simple Keynesian model 的理论架构说明下列两套观念：
(a)Balance Budget Multiplier(5%)
(b)Paradox of Thrift(5%)
2.(20%) Assume that the following equations summarize the structure of an economy：
(1)C=Ca+0.75(Y-T)
(2)Ca=100-30r
(3)Ip=200-10r
(4)T=200+0.2Y
(5)NX=150-0.1Y
(6)Y=C+Ip+G+NX
(7)M^s/P=0.8Y-16r
以上英文字母所代表之变量：C,Y,T,Ca,r,Ip,NX,G,M^s,P等与课堂上使用者相同。其中 M^s=2240,P=2,G=500。
(a)Compute the value of the multiplier. Derive the equation for the autonomous planned spending schedule,Ap.Derive the equation for the IS curve,and calculate the slopes of the IS and LM curves.(5%)
(b)请画出IS─LM图形，特别要标明IS与LM曲线跟Y轴与r轴交点之(Y，r)值各是多少。并求均衡下7个内生变量值。试问如果政府的目标Y值是1480，则该如何变动G以便达成目标？(10%)
(c)说明 strong and weak effects of monetary policy。(5%)
3.(20%)IS─LM是个简化而呆板的模型。为了能具体了解、分析2008年金融风暴，课本 Chapter 5 supplements the IS─LM by adding the effects of financial markets, innovations ,leverage risk, etc.
(a)Explain what the term premium and risk premium are and why they cause the interest rates that affect the cost of borrowing by households and businesses to differ from the federal funds rates.(5%)
(b)Why do bubbles occur? Gordon 分析美国历史上3个严重的 asset bubbles(1927-1929 与 1996-2000的股票市场及2000-2006的房贷市场)。试问他认为在这些 bubbles 中重要的 common ingredients (促成要素)有哪些？(7%)
(c)为了因应2008金融风暴，美国央行(Fed)采用了一种新政策叫 Quantitative Easing。Explain what quantitative easing is, how it affects the Fed's balance sheet, and how the use of quantitative easing is intended to affect the term and risk premiums.(8%)
4.(15%)
(a)试说明比较 Structural 与 Cyclical Budget Deficits 的观念，务必以图形辅助您的说明。您觉得 Gordon 认为美国在1982-1987年期间的“财政赤字” 是 Structural 或 Cyclical Deficit？(5%)
(b)美国在 1998-2001 期间总算有“财政盈余”。依 Gordon 看法，是那些因素使美国在长期大量“财政赤字”后能转亏为盈？为何在2002年以后又开始有赤字？
(c)何谓“TARP”？从那些方面来看你可说这是美国因应2008金融风暴的一个成功对策？从那些方面来看你也可说这是个 policy failure？
5.(25%)
(a)Four international transcation are listed belowed. For each, determine whether it is a credit or a debit in the U.S. balance of payments, whether it is a current account or capital account transaction, and whether it increase or decrease the size of the U.S. balance of payments deficit.(5%)
(1) China buys air planes from the United States.
(2) Ford MotorCompany builds an automobile plant in Russia.
(3) A Japan insurance company buys U.S. government bonds.
(4) U.S. residents vacation in Africa.
(b)什么是 net international investment position? The net international position of the United States was 19.2% of GDP in both 2001 and 2009. Explain how this was possible in lights of the rather large current account deficits between 2001 and 2009.(5%)
(c)何谓 PPP theory of exchange rate？依 Gordon 的说法，在实际世界 "Why PPP Breaks Down"？
(d)何谓 crowding out effect？课本分别 domestic crowding out (第4章) 与 international crowding out (第7章)。试说明这两种不同 crowding out effects 的理论假设 (assumptions)、运作过程与最终结果的“异”“同”。(8%)
6.(10%)
(a)说明 AD curve 的观念。为何 AD curve 会“向下倾斜”？有什么样的因素变动会 shift the AD curve？(5%)
(b)说明“向上倾斜” SAS curve 的定义与观念。其主要 assumption 如何？为何会“向上倾斜”？有什么样的因素变动会 shift “向上倾斜”的 SAS curve？(5%)