1. GDP & National Income (GDP 与国民收入核算)
GDP = C + I + G + (X - M)
- Expenditure approach: spending by households, firms, government, and net exports — 支出法：居民消费、企业投资、政府购买与净出口之和。
GDP = w + r + i + π + T - S
- Income approach: sum of factor incomes + indirect taxes − subsidies — 收入法：要素收入之和 + 间接税 − 补贴。
- Production/value-added approach to avoid double-counting — 生产（增加值）法以避免重复计算。
Nominal GDP = P_t × Q_t
- Current prices times current quantities (not inflation-adjusted) — 当期价格×当期产量（未剔除通胀）。
Real GDP = P_base × Q_t
- Base-year prices times current quantities (inflation-adjusted) — 基期价格×当期产量（剔除通胀）。
GDP Deflator = (Nominal GDP / Real GDP) × 100
- Broad price level for domestically produced goods/services — 衡量国内生产的总体价格水平。
GDP per Capita = GDP / Population
- Average output/income per person — 人均产出/收入水平。
GNP = GDP + NFIA
- Adds net factor income from abroad to GDP — 在 GDP 基础上加上来自国外的要素净收入。
NNP = GNP − Depreciation
- Net output after accounting for capital wear — 扣除折旧后的国民净产出。
NI = NNP − Indirect Taxes + Subsidies
- Income accruing to factors at market prices — 计入市场价税补后的要素收入总额。
PI = NI − (Corporate Taxes + Retained Earnings + Social Security) + Transfers
- Income received by persons before personal taxes — 个人获得的税前收入（含转移支付）。
DPI = PI − Personal Taxes
- Income available for consumption/saving — 扣个人税后的可支配收入。
2. Price Level & Inflation (物价水平与通货膨胀)
CPI = [Σ(P_t × Q_base)] / [Σ(P_base × Q_base)] × 100
- Fixed-basket consumer price index (Laspeyres) — 固定商品篮子的居民消费价格指数（拉氏）。
PPI = [Σ(P_t^producer × Q_base)] / [Σ(P_base^producer × Q_base)] × 100
- Producer prices for earlier stages of production — 生产环节价格指数，反映出厂/批发环节。
Laspeyres Index = [Σ(P_t Q_0)] / [Σ(P_0 Q_0)] × 100
- Base-quantity weights; tends to overstate inflation — 以基期数量为权重，通胀可能偏高。
Paasche Index = [Σ(P_t Q_t)] / [Σ(P_0 Q_t)] × 100
- Current-quantity weights; tends to understate inflation — 以当期数量为权重，通胀可能偏低。
Fisher Index = √(Laspeyres × Paasche)
- Geometric mean; balanced measure — 几何平均，平衡两者偏差。
π_t (CPI) = (CPI_t − CPI_{t−1}) / CPI_{t−1} × 100%
- Inflation rate from CPI changes — 基于 CPI 变动的通胀率。
π_t (Deflator) = (Deflator_t − Deflator_{t−1}) / Deflator_{t−1} × 100%
- Inflation from GDP deflator — 基于 GDP 平减指数的通胀率。
Real Interest = Nominal Interest − π
- Ex-post real rate if using realized inflation — 用实际通胀得到的事后实际利率。
3. Unemployment (失业)
u = U / L × 100%
- Unemployment rate: unemployed share of labor force — 失业率：失业者占劳动力比重。
LFPR = L / WAP × 100%
- Labor force participation among working-age — 劳动参与率：工作年龄人口中的劳动力占比。
Employment Rate = E / L × 100%
- Share of labor force employed — 就业率：劳动力中已就业的比例。
Okun’s Law: (Y − Y*) / Y* = −β (u − u*)
- Output gap moves inversely with unemployment gap — 产出缺口与失业缺口负相关。
Phillips Curve: π = π^e − α (u − u^n) + v
- Inflation depends on expected inflation, unemployment gap, shocks — 通胀取决于通胀预期、失业差距与供给冲击。
4. Long-Run Growth (长期经济增长)
Δk = s f(k) − (n + δ) k
- Solow capital accumulation per worker — 索洛模型下人均资本积累方程。
k* = s f(k) / (n + δ)
- Steady-state capital where Δk = 0 — 稳态资本（资本不再变动）。
MPK = n + δ
- Golden rule: maximize steady-state consumption — 黄金律：使稳态消费最大化的条件。
g_Y = g_A + α g_K + (1 − α) g_L
- Growth accounting: tech + capital + labor — 增长核算：技术、资本与劳动贡献之和。
5. Saving, Investment & Finance (储蓄、投资与金融体系)
S = Y_d − C
- Private saving out of disposable income — 私人部门可支配收入中的储蓄。
NS = (Y − T − C) + (T − G)
- National saving = private + public — 国民储蓄 = 私人储蓄 + 公共储蓄。
BD = G − T
- Budget deficit when spending exceeds taxes — 财政赤字：政府支出大于税收。
PS = T − G
- Public saving when taxes exceed spending — 公共储蓄：税收大于支出。
S − I = NX
- Open-economy link between saving and trade — 开放经济中储蓄与贸易余额的恒等关系。
6. AD-AS Model (总需求与总供给)
AD: Y = C + I + G + NX
- Aggregate demand identity for output — 总需求恒等式。
SRAS: P = P^e (1 + λ (Y − Y_n))
- Price level rises with positive output gap — 价格随正产出缺口而上升（短期）。
LRAS: Y = Y_n
- Long-run output pinned at potential — 长期产出等于潜在产出。
Output Gap = (Y − Y*) / Y* × 100%
- Percent deviation from potential output — 实际相对潜在产出的百分比偏离。
7. Multiplier & Consumption (乘数效应与消费)
C = a + b Y_d
- Consumption: autonomous + MPC × income — 消费 = 自发消费 + MPC × 收入。
MPC = ΔC / ΔY_d
- Share of extra income consumed — 额外收入用于消费的比例。
MPS = ΔS / ΔY_d
- Share of extra income saved — 额外收入用于储蓄的比例。
k = 1 / (1 − MPC) = 1 / MPS
- Investment multiplier of autonomous spending — 自主支出的投资乘数。
k_G = 1 / (1 − MPC)
- Government spending multiplier — 政府支出乘数。
k_T = − MPC / (1 − MPC)
- Tax multiplier is negative — 税收乘数为负。
k_balanced = 1
- Equal ΔG and ΔT raise Y one-for-one — 平衡预算乘数为 1（同增支出与税收）。
8. IS-LM Model (IS-LM 模型)
IS: Y = C(Y − T) + I(r) + G + NX
- Goods market equilibrium locus — 商品市场均衡曲线。
LM: M / P = L(r, Y)
- Money market equilibrium locus — 货币市场均衡曲线。
L(r, Y) = k Y − h r
- Money demand rises with Y, falls with r — 货币需求随收入升、随利率降。
9. Money & Inflation (货币与通胀)
MV = PY
- Quantity theory: money × velocity = nominal GDP — 货币数量论：货币×流通速度=名义产出。
i = r + π^e
- Fisher effect for nominal rates — 费雪效应：名义利率由实际利率与预期通胀构成。
π ≈ ΔM − ΔY
- Approximate inflation from money/output growth — 通胀近似等于货币增速减去产出增速。
10. Open Economy (国际宏观)
S = I + NX
- Saving finances domestic investment and net exports — 储蓄用于国内投资与净出口。
CA + KA + FA = 0
- Balance of payments identity — 国际收支恒等式（经常/资本/金融账户和为零）。
CA = NX + NFIA + NTR
- Current account composition — 经常账户由净出口、海外净要素收入与净转移构成。
(1 + i_d) = (1 + i_f) (F / E)
- Covered interest parity with forward/spot — 有套期的利率平价：前远期与即期挂钩。
i_d − i_f = (F − E) / E
- Approximate parity in differences — 近似利差≈远期与即期的相对差。
E_real = (E × P) / P*
- Real exchange rate: relative price of baskets — 实际汇率：两国物价篮子的相对价格。
Terms of Trade = P_X / P_M × 100
- Export prices relative to import prices — 出口价格相对进口价格的强弱（×100）。
11. Fiscal Policy & Budget (财政与预算)
BD = G − T
- Government budget deficit — 政府赤字的定义。
PS = T − G
- Public saving (negative if deficit) — 公共储蓄（赤字时为负）。
NS = (Y − T − C) + (T − G)
- National saving identity — 国民储蓄的恒等式。
Fiscal Multiplier = ΔY / ΔG
- Output response to government purchases — 产出对政府购买的响应强度。
Tax Multiplier = ΔY / ΔT
- Output response to tax changes — 产出对税收变动的响应强度。
Balanced Budget Multiplier = 1
- Equal ΔG and ΔT raise Y one-for-one — 同幅增加 G 与 T，使 Y 同幅上升。
12. Labor Market Extensions (劳动力市场扩展)
Real Wage = W / P
- Purchasing power of wages — 工资购买力（实际工资）。
13. Price Index Extensions (价格指数补充)
Laspeyres Index
- Base-quantity weights; often overstates inflation — 基期数量权重；通胀或偏高。
Paasche Index
- Current-quantity weights; often understates inflation — 当期数量权重；通胀或偏低。
Fisher Index
- Geometric mean; balanced and accurate — 几何平均；更均衡与准确。
14. Terms of Trade (贸易条件)
Terms of Trade = P_X / P_M × 100
- Higher values indicate more favorable exports — 数值越高出口处境越有利。
Real Exchange Rate = (E × P) / P*
- Relative price-adjusted exchange rate — 价格水平调整后的汇率指标。