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Lecture 13

# ECON102 Lecture Notes - Lecture 13: Excess Supply, Measurement Canada, Liquidity Preference

Department
Economics
Course Code
ECON102
Professor
J.Scott Beesley
Lecture
13

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
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

Inaon:
Deaon:
!! "
Classical Theory of Inaon

 
The Level of Prices and the Value of Money
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o# \$
o#
%&'(
#\$)%*(
Money Supply, Money Demand, and Monetary Equilibrium

+, - \$

o%(
o%.(%\$(\$

/0
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#/
o
2\$3
How Supply and Demand for Money Determine the Equilibrium Price Level
The E&ects of a Monetary Injecon
0\$
o1\$,-
\$\$

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An Increase in the Money Supply (11.2)
\$\$
Quanty Theory of Money:#\$\$

A Brief Look at the Adjustment Process
4\$
56 27&#1\$655689
86 23
:6 ;\$
<6 \$
=6 >
?6 .
@6 ;7&,1\$655689
The Classical Dichotomy and Monetary Neutrality
;\$6
oNominal Variables:A
oReal Variables:A
Classical Dichotomy:
Monetary Neutrality:\$0
Velocity and the Quanty Equaon
4\$
oVelocity of Money:\$
oQuanty Equaon:
!\$