Chapter 1 ：Macroeconomic

 Macroeconomic Chapter 1都学些什么呢？

✅The concept of macroeconomics

    ✅Define macroeconomics

    ✅Compare between Macroeconomics and Microeconomics

    ✅The macroeconomics goals

    ✅The Problem of macroeconomics goals

✅Aggregate demand and aggregate supply

    ✅define aggregate demand and aggregate supply

    ✅aggregate demand and aggregate supply curve

    ✅factors that shift AD curve and AS curve

✅4th Industrial Revolution 

    ✅The influence of 4 Industrial Revolution 

        ✅The growth of Gig Economy and Digital Economy

✅The concept of macroeconomics

一开始肯定少不了define macroeconomics

Macroeconomics是学country‘s economic activities。例如，problem of inflation， level of unemployment，balance of payment等 

Compare between macroeconomics and microeconomics

左边是microeconomics，右边是macroeconomics。

Macroeconomic goals

1.Achieving Full Employment

    🔎少于6%的失业率就代表达到full employment

    🔎如果失业率高，代表资源没有用到optimum

2.Maintaining Price Stability

    🔎没有price fluctuation

    🔎general price increase会导致inflaction

    🔎general price decrease会导致deflaction

3.Sustainable Good Economic Growth

    🔎提高生活水平

    🔎增加output

4.Fair Equitable Distribution of income

    🔎解决贫富悬殊的问题

    🔎达到相近的收入

5.Competitive International Trade

    🔎达到更高的生产

    🔎经济福利

6. Satisfactory Equilibrium in Balance of Payments

    🔎import>export 亏

    🔎import<export 赚

The problem of Macroeconomics Goals无法同时达到两个macro goal

1.To achieve full employment and maintain price stability

    🔎政府为了减少失业率，减少tax税，增加津贴。 当政府给予津贴后，市场上就需要很多人手，随之失业率会减少。当失业率减少后，达到了full employment，人民的经济能力就会提高，这会导致demand增加，人民开始疯狂购物，故此general price就也会增加，导致inflation。Inflation发生后，消费者的消费能力就下降，接而导致investment下降，失业率又增加。 

2.To achieve economic growth and maintain price stability

    🔎为了达到economic growth，政府必须要鼓励investment。怎样鼓励investment？减少interest rate，那么investment level就会增加。Investment增加会导致就业机会增加，国家生产力也会增加。就业机会增加，那么消费能力就会增加，general价格就会增加（inflation），那么就达不到price stability了。为了让general price stable，政府就必须调高interest rate，减少investment，就业机会减少，人民消费能力减少，那么economic growth就无法达到。

3.To achieve economic growth and equilibrium in balance of payment

    🔎当我们的经济成长速度过高，人民就会增加消费奢侈品。当人民收入增加，自然而然会购买更多import的货多过local的货，会造成 import>export，就导致deficit in the balance of payment。政府只能减少economic growth来减少人民不断购买进口货

✅Aggregate demand and aggregate supply

Define aggregate demand and aggregate supply

aggregate demand and aggregate supply curve

Factors that shift AD curve and AS curve

Factors that shift AD curve

1.Comsumption Expenditure (C)

    🔑based on consumer's wealth

2.Investment Expenditure (I)

    🔑caused by interest rates, expected return from investment projects, business taxes

3.Government Purchase (G)

    🔑expansionary budget policy (shift to right)

    🔑contractionary budget policy (shift to left)

4.Net Exports (X-M)

    🔑分成了foreign income和foreign currency exchange rate

    🔑foreign income

        -when income of foreigners is high, AD curve shift to right

    🔑foreign currency exchange rate

        -When foreign currency exchange rate increase, AD curve shift to left

        -When foreign currency exchange rate decrease, AD curve shift to left

Factors that shift AS curve

1.Cost of production

    🔑cost of production 少，AS curve (shift to right）

    🔑cost of production多，AS curve （shift to left）

2.Economic growth

    🔑GDP increase, AS curve (shift to right)

    🔑GDP decrease, AS curve (shift to left)

3.Technology

    🔑technology modern, AS curve (shift to right)

    🔑technology traditional, AS curve (shift to left)

4.Incentives

    🔑tax cut/subsidy, AS curve (shift to right)

    🔑tax increase, AS curve (shift to left)

#shift to right是增加，shift to left是减少

✅4th Industrial Revolution 

The influence of 4 Industrial Revolution 

The growth of Gig Economy and Digital Economy

Gig Economy

• A gig economy is a free market system in which temporary positions are common and organizations contract with independent workers for short-term engagements.
• "a job for a specified period of time" 零工
• Examples ; Foodpanda, Grabfood

Digital Economy

• private and public sector to adopt and utilize digital technologies to raise productivity, revenue and incomes. 
• economy that focuses on digital technologies
• covers all business, economic, social, cultural etc. activities that are supported by the web and other digital communication technologies.
• Vehicles – Uber,
• Grab Accommodation – Airbnb, Trivago, Booking.com, Agoda
• Goods – Mudah.com, Lazada, Shopee

Technology and future of job