Konsep-konsep Dasar Makro

Ekonomi

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 OVERVIEW
OF MACROECONOMICS

A. KEY CONCEPTS OF MACROECONOMICS

• The central macroeconomics questions
• Objectives and instruments of macroeconomics
• International linkages
B. AGGREGATE SUPPLY AND DEMAND

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Economics?

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Microeconomics and Macroeconomics

• Microeconomics focuses on the individual parts of

the economy.
• How households and firms make decisions and how they
interact in specific markets
• Macroeconomics looks at the economy as a whole.
• Economy-wide phenomena, including inflation,
unemployment, and economic growth
The central macroeconomic questions:

• How can a nation increase its rate of economic

growth?

• Why do output and employment sometimes fall, and

how can unemployment be reduced?

• What are the sources of price inflation, and how can

it be kept under control?

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 Objectives and instruments of
macroeconomics
Objectives Instruments

Output: Monetary Policy:

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High level and rapid growth
of output
Employment:
2 High level of employment with
low involuntary unemployment
Controlling the money supply
to determine interest rate
Fiscal Policy:
Government expenditure, and
taxation

Price - level stability

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 Objectives of Macroeconomics
1

 Output
 The ultimate objective of macro activity is to provide the goods
and services that population desire.
 The most comprehensive measure of total output in an
economy is the Gross Domestic Product (GDP).
 There are two ways to measure GDP: Nominal GDP and Real
GDP.
 A steady long-term growth in real GDP and the improvement in
living standards is known as economic growth.

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 Objectives of Macroeconomics
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 High Employment, Low Unemployment

 Employment and unemployment are most directly felt by
individuals.
 Unemployment rate is the percentage of the labor force
that is unemployed
 Labor force includes all employed person and those unemployed
individuals who are seeking jobs.

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 Objectives of Macroeconomics
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 Stable Price
 The most common price measure is the Consumer Price Index
(CPI).
 The CPI measures the cost of a basket of goods (including item
such as food, shelter, clothing, and medical care) bought by
average urban consumer.
 The rate of growth or decline of the price level from one year to
the next is known as the rate of inflation.
 Stable price mean slowly rising prices.

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Sumber: BPS, Data Diolah

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Tinjuan Teoritis Inflasi

Demand Pull Inflation Cost Push Inflation

 The Tools of macroeconomic Policy
 Fiscal Policy, tries to influence target variables
(objectives of macroeconomics) by manipulating
government expenditures and tax rates.

 Government Expenditures
 Government spending on goods and services
 Government transfer payments which boost the incomes of
targeted groups

 Taxation, effects the overall economy in two ways:

 Taxes effect people’s incomes
 Taxes effect the prices of goods and factors of production and
thereby effect incentives and behavior.

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 The Tools of macroeconomic
Policy
 Monetary Policy, tries to influence target variables by
changing the money supply or interest rates or both.

 Central Bank can influence many financial and economic

variables, such as interest rates, stock prices, housing prices,
and foreign exchange rates by controlling money supply.

 If the central bank is faced with a business downturn, it can

increase the money supply and lower interest rates to stimulate
economic activity.

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International linkages

• All nations participate in the world economy and are linked together
trough trade and finance.
• As the cost of transportation and communication have declined,
international linkages have become tighter than were a generation
ago.
• As economies become more closely linked, policy makers devote
increasing attention to international economic policy.
• Trade policies: tariffs, quota, and other regulations that restrict or
encourage imports and exports
• International financial management – adopt different systems to
regulate foreign exchange market.

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AGGREGATE SUPPLY AND DEMAND

 Aggregate Supply (AS)

The total quantity of goods and services that the
nation’s business willingly produce and sell in a
given period.
 Aggregate Demand (AD)
 The total amount that the different sector in the
economy willingly spend in a given period.
 Sum of spending by consumers, business,
government, and foreigner.

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AS and AD Determine the Major
Macroeconomic Variables

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 Macroeconomic Equilibrium
A macroeconomic
equilibrium
is a combination of
overall price and
quantity at which all
buyers and sellers are
satisfied with their
purchases, sales and
prices

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 AD & AS Shocks

AD Shocks
Occur as consumers,
business, or
governments change
total spending relative
to the economy’s
productive capacity

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AD & AS Shocks
Potential
P Output AS1
AS Shocks AS
is a sudden change
in input cost or
productivity which E1
shifts AS sharply P E
P*

AD

Q1 Q* Q

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