- •Content
- •Introduction
- •Sillabus
- •1. Data for teachers
- •2. Data on discipline
- •5. Brief description of the discipline
- •6. Content of the discipline 6.1. List of lectures
- •7. Schedule of the tasks and surrender of discipline «Economic theory" for students independent work
- •8. References The laws of the Republic of Kazakhstan, the Letters (Message) of the President of the Republic of Kazakhstan, Regulations rk
- •Basic literature:
- •Additional literature:
- •9. Course policy
- •10. Information on the assessment of knowledge
- •Scheme of assessment of knowledge on the discipline
- •Tentative map Assessment of the students exam
- •2. Glossary
- •3. A short course of lectures
- •1.1 Economic needs, economic benefits and economic resources.
- •1.2 The subject of economic theory
- •1.3 Methods and functions of economic theory
- •Theme 2. Fundamentals of social production
- •2.1 The bases of social production
- •2.2 Structure of social production
- •2.3 Economic Systems. Types of economic systems
- •1. The traditional economic system
- •2. Command and administration economy system
- •3. Market economic system
- •4. Mixed system
- •3.1 Economic and legal content property
- •The system of property relations
- •Fig. 1. The structure of ownership
- •4.1 The forms of social economy. Commodity economy
- •4.2 The nature and function of the market
- •Invariant category that has general economic features inherent to any commodity production.
- •4.3 Origin, nature and function of money
- •4.4 The essence of entrepreneurship and its feature
- •5.1 Demand. Factors determining the demand. The law of supply
- •5.2 Supply. Factors determining the sentence. The law of Supply
- •5.3 Interaction of supply and demand market equilibrium
- •5.3 Elasticity and its types
- •Elastic demand
- •5.4 The theory of consumer behavior
- •6.1 The essence of competition. The theory of perfect and imperfect competition
- •1. On the market at the same time there are many firms, each of which occupies a small share of the market
- •2. Homogeneity of products
- •3. Freedom of entry and exit from the industry
- •4. There fairness information
- •6.2 Theory of monopoly
- •Monopolistic Competition and Oligopoly
- •6.3 Antitrust and competition policy
- •7.1 The reproduction process of capital
- •7.2 Basic and working capital
- •Scheme 1. Factors of self-financing
- •Incease in profits
- •7.3 Investment as a source of financing of productive assets
- •Theme 8. Costs and revenues of the enterprise (company)
- •8.1 Nature and types of costs
- •8.2 Revenue and its types
- •8.3 Profit and its role in the development of the company
- •9.1 Peculiarities the demand for resources
- •9.2 Labor market and wage
- •9.3 Capital markets and interest rates
- •Fig. 16. Demand for capital Fig. 17. Supply of capital
- •9.4 The land market. Land rent
- •10.1 The national economy as a system
- •10.2 System of National Accounts
- •10.3 The macroeconomic indicators and methods of calculation
- •Methods of measuring gnp
- •The calculation of gnp expenditure
- •Calculating gnp by revenue
- •The calculation of gnp "value added"
- •Theme 11. Macroeconomic equilibrium
- •11.1 Macroeconomic equilibrium and its characteristics
- •11.2 Model employment resources
- •12.1 Cyclical nature of the market economy
- •12.2 The Economic cycle and its variants
- •12.3 The concept of economic growth the measurement
- •Types and factors of economic growth
- •Theme 13. Unemployment and inflation are both manifestations of economic instability
- •13.1 Essence and basic forms of unemployment
- •13.2 The effect of unemployment rate on the value of gnp. Okun's Law
- •13.3 Inflation and its causes
- •14.1 Concept and types of monetary systems
- •14.2 The demand for money and money supply
- •14.3 The structure of the financial system
- •14.4 State budget and public debt
- •14.5 Principles and forms of taxation
- •14.6 International relations: the nature, form
- •4. Assignments for practical classes and self-study Theme 1. Subject and method of economics (1 hour)
- •Independent work of the student
- •Theme 2. Fundamentals of social production (1 hour)
- •1. As played wealth?
- •2. The goods are different from the natural product?
- •3. Economic Geography
- •4. Find the right answer
- •5. Graphic problem.
- •6. The concept of "services" and "intangible benefits"
- •Independent work of the student
- •Theme 3. Property relations and their role in the economy (1 hour)
- •1. Questions about the nature of the property
- •7. What is true and false?
- •Independent work of the student
- •Theme 4. Foundations of a market economy and business activities (1 hour)
- •1. Gogol about the farm landowners Plyushkin
- •6. Adventures scientist w. Cameron
- •7. Find the right answer
- •8. Function of money
- •9. The design task
- •Independent work of the student
- •Theme 5. Fundamentals of the theory of supply and demand (2 hours)
- •Independent work of the student
- •Independent work of the student
- •Theme 6. Competition and Monopoly (1 hour)
- •Independent work of the student
- •Theme 7. Circuit and the circulation of capital (funds) of enterprise (1 hour)
- •Independent work of the student
- •Theme 8. Expenses and income of the company (the company) (1 hour)
- •8. All the profit goes to a businessman?
- •Independent work of the student
- •Theme 9. Factor markets and formation of factor income (1 hour)
- •Theme 10. The national economy as a system (1 hour)
- •2. The table presents the nominal and real gdp over the period 1999 to 2003
- •3. By the terms of the left hand column find the definition in the right column.
- •4. True-false:
- •5. Does Kazakhstan's gdp this article? If not, why not? If so, then the calculation of expenditure and revenue and in what specific section?
- •Independent work of the student
- •Theme 11. Macroeconomic equilibrium (1 hour)
- •Independent work of the student
- •1. Right - wrong:
- •2. Activation of the human factor
- •4. Types of intensification of production.
- •Theme 13. Unemployment and inflation as a manifestation of economic instability (1 hour)
- •2. Economic challenge.
- •Independent work of the student
- •Theme 14. The main directions of economic policy (1 hour)
- •Independent work of the student
- •5. Questions for the interim control for the subject "Economic Theory"
- •5. 1 Questions for the 1-st interim control
- •5.2 Questions for the 2nd interim control
- •6. Tests to consolidate students' knowledge
- •References
13.2 The effect of unemployment rate on the value of gnp. Okun's Law
In cyclical unemployment production capacity is not fully utilized and the amount of GDP less than that which would be at full employment. The difference between potential output at full employment GDP and actually achieved in cyclical unemployment GDP is GDP gap.
Between cyclical unemployment and the GDP gap is a direct link there is a stable, found empirically A. Okun. Okun's Law expresses the relationship between the level of unemployment or lost in GDP. If the actual unemployment rate exceeds the natural rate of 1%, the gap in GDP of approximately 2.5%. This ratio (1:2.5) allows us to calculate the absolute loss associated with any level of unemployment. For example, if the unemployment rate is 9.5% and its natural rate of 6% will be forgone GDP of 8.75% / (9.5 - 6) x 2.5 = 8.75 /. If this was not provided with the unemployment rate below the natural, the GDP would be 8.75% more than the actual.
The main method of the state employment policy are the programs for the reduction of unemployment.
They include the following:
- Stimulating employment growth;
- Increase the number of jobs in the public sector;
- Training and retraining;
- Promoting the employment of labor.
The state also provides social insurance unemployment, that is, pays benefits have lost their jobs are not in their water. The basic requirements for obtaining a benefit, the duration and their absolute size in different countries vary considerably.
Multiple functions to regulate employment perform labor exchanges, which are:
- Registered unemployed, if these persons meet the established legal status of "unemployed"
- Make records and registered vacancies in enterprises of different ownership forms,
- Employment opportunities for job seekers,
- Study labor demand and supply,
- Provide information on employment for everyone,
- Carry out the payment of unemployment benefits.
Besides the direct impact on the labor market, the state uses and indirect methods, including fiscal, monetary and depreciation policy, as it was already in the previous topics.
13.3 Inflation and its causes
As an economic phenomenon of inflation has been around a long time. It is believed that its appearance is linked almost from the emergence of money, the functioning of which is continuously connected. The term "inflation" (from the Latin. Inflatio - swelling) first began to be used in North America during the Civil War, 1861-1865gg. and refers to the process of swelling of paper currency.
The most succinct definition of inflation - the rise in the general price level, the most common overflow channels money supply in excess of the needs of trade, which causes impairment of the monetary unit.
The essence of inflation is that the national currency depreciates in relation to goods, services and foreign currency, preserving the stability of its purchasing power. Some scientists have added to this list is gold, giving it, as before, the role of the universal equivalent.
Inflation can occur sparingly be creeping, in which prices do not increase by more than 10% per year. Many modern economists believe such inflation necessary for effective economic development. Such inflation can effectively adjust prices in relation to the changing conditions of production and demand.
Galloping inflation, which is characterized by the rise in prices of 20% to 200% a year, is already a serious stress on the economy, although the prices are not difficult to predict and include options transactions and contracts.
The most disastrous for the economy hyperinflation, which is astronomical growth of currency in circulation and, as a consequence, a catastrophic rise in commodity prices. The role of money itself in such cases is greatly reduced and the population, and industrial enterprises, mostly move on to other, less efficient form of payment - such as barter. In some cases there are parallel currencies, greatly increasing the role of foreign currencies. Hyperinflation causes severe damage to the population, even the most affluent sections of society. Destroying the national economy.
Also shared by two types of inflation: balanced and unbalanced. When balanced with respect to inflation, prices rise moderately, while for most goods and services. In this case, the results of the average annual price growth rising interest rate of the State Bank, and thus the situation is equivalent to a situation with stable prices.
In the case of unbalanced inflation rates for various goods and services are rising at different times and in different ways for each type of product.
There are other types of inflation, for example, the expected and unexpected. Expected inflation can be predicted for any period of time, and it is often a direct result of government action.
Unexpected inflation is characterized by a sudden jump in prices, which adversely affects the taxation system and the money, if there is a population of inflation expectations. This situation will cause a sharp increase in demand, which in itself creates difficulties in the economy and distorts the real picture of public demand, which leads to failure in forecasting trends in the economy, and with a little hesitation government further increasing inflation expectations, which will spur the growth of prices.
Demand pull - the imbalance between supply and demand on the demand side. The main reasons for this may be an increase in government contracts, an increase in demand for capital goods at full employment and almost full capacity utilization, as well as growth in the purchasing power of workers (wage growth) due to, for example, coordinated trade union action. As a consequence, there is a surplus of money in relation to the quantity of goods, and prices begin to rise.
Cost inflation - rising prices due to increased production costs. Reasons for the increase of costs can be oligopolistic pricing policy, economic and financial policy of the state, an increase in raw material prices, the actions of the trade unions, demanding higher wages.
In practice is not easy to distinguish one type of inflation on the other, they are all closely related and are constantly interacting with each other.
Theme 14. The main directions of economic policy