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,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,“十二五”普通高等教育本科国家级规划教材,教育部推荐教材 大学专业英语系列教材,经济学专业英语教程（,精编版,）,（第二版）,主编 宋利芳,中国人民大学出版社201,9,年,7,月第,2,版,演示文稿,宋利芳 编写,1,.Framework,2,.Contents,Introduction,1,6,units,and each unit includes one text and one additional text,All the units concern microeconomics,macroeconomics,population resources and environmental economics,development economics,fiscal economics,finance,international trade,and world economy,1,.Framework,Unit,1,Text:Demand and Supply（需求与供给）,Additional Text:Price Elasticit,y,of Demand,（需求的价格弹性）,Unit,2,Text:Cost of Production,（生产成本）,Additional Text:Economies and Diseconomies of Scale,（规模经济与规模不经济）,Unit,3,Text:Monopoly,（垄断）,Additional Text:Perfect Competition,（完全竞争）,Unit,4,Text:Oligopoly,（寡头垄断）,Additional Text:Monopolistic Competition,（垄断竞争）,Unit,5,Text:Gross Domestic Product（国内生产总值）,Additional Text:Sources of Economic Development（经济发展的源泉）,Unit,6,Text:Inflation（通货膨胀）,Additional Text:Unemployment（失业）,2,.Contents,Unit 7,Text:Money and Banking（货币与银行）,Additional Text:The U.S.Central Bank:The Federal Reserve System（美国的中央银行：联邦储备制度）,Unit 8,Text:Foreign Exchange and Exchange Rate,（外汇与汇率）,Additional Text:The Effects of Exchange Rates on the Economy,（汇率对经济的影响）,Unit 9,Text:The Balance of Payments,（国际收支）,Additional Text:International Monetary Systems,（国际货币体系）,Unit 10,Text:Fiscal and Monetary Policy,（财政政策与货币政策）,Additional Text:Role of Government in the Economy,（政府在经济中的作用）,Unit,11,Text:,Population,（,人口,）,Additional Text:,The Consequences of High Fertility:Some Conflicting Opinions,（,高出生率的影响：一些冲突的观点,）,Unit,12,Text:,Environmental Protection,（,环境保护,）,Additional Text:,Methods of Pollution Control,（,污染控制的方法,）,Unit,13,Text:,WTO,（,世界贸易组织,）,Additional Text:,National Competitive Advantage and Diamond Model,（,国家竞争优势与钻石模型,）,Unit,14,Text:,Nontariff Barriers,（,非关税壁垒,）,Additional Text:,Dumping and Antidumping,（,倾销与反倾销,）,Unit,1,5,Text:,Foreign Aid,（,外国援助,）,Additional Text:,Foreign Direct Investment and Multinational Enterprises,（,外国直接投资与跨国企业,）,Unit,1,6,Text:,Economic Globalization,（,经济全球化,）,Additional Text:,Regional Economic Integration,（,区域经济一体化,）,Unit,1,Text:Demand and Supply,（需求与供给）,1.Key words,2,.,How,are prices determined,?,3.,Demand,schedules,and,curves,4.,Supply,schedules,and,curves,5.,Changes in,demand,6.,Changes in,supply,7.Questions,free enterprise,price mechanism,make a profit,effective demand,law of demand,law of supply,demand schedule,demand curve,vertical axis,horizontal axis,supply schedule,supply curve,market mechanism,equilibrium price,related goods,consumer tastes,Future expectations,changes in demand,changes in supply,1,.,Key word,s,2.1 Price mechanism,2.2 Demand and effective demand,2.3 Law of demand and law of supply,2.How are prices determined?,If an economy runs on the lines of the purely competitive market of free enterprise,then what is produced and the prices at which the products are sold depend upon the choices and decisions made by consumers and producers.,The price mechanism is the process by which prices rise and fall as a result of changes in demand and supply,and thereby acts as a signal to producers to guide them on their production plans.,If our economy were entirely competitive and there were no restrictions at all,then the market forces,or price mechanism,would operate freely.The only things that would be produced would be those goods for which consumers were willing to pay sufficient to make it worthwhile for the producers to put them on the market.The demand for a product and the price at which it can be sold indicate to the producer the best way to allocate resources in order to make a profit.,2.1 Price mechanism,Demand,means the quantity which buyers are willing to purchase at a given price over a given period of time.,Effective demand,means a desire to obtain an article accompanied by the ability and willingness to pay for it at the price asked.,In economics,when we speak of demand,we are usually referring to effective demand.,2.2 Demand and effective demand,L,aw of demand,Buyers are likely to buy more of an item as the price falls.,Law of supply,As prices rise,sellers would like to sell more and will,if it is possible,offer a larger quantity for sale.,2.3 Law of demand and law of supply,3.1,Demand schedules,3.2 Demand curves,3.Demand schedules and curves,Price(cents/kg),Quantity,demanded(kg),Price(cents/kg),Quantity,demanded(kg),10,70,50,30,20,60,60,20,30,50,70,10,40,40,80,Nil,3.1 Demand schedules,The price is shown on the vertical axis,while quantity is shown on the horizontal axis.This is the conventional way of drawing a demand and supply graph.,As prices fall,a larger quantity of a good is demanded.The typical demand curve slopes down from left to right.This indicates that consumers buy more of a good at lower prices and less at higher prices,but at very low prices demand does not necessarily increase.This is sometimes called an expansion or contraction,or a movement along the curve.,3.2 Demand curves,4.1 Supply schedules,4.2 Supply curves,4.3 Equilibrium price,4.Supply schedules and curves,Price(cents/kg),Quantity,supplied(kg),Price(cents/kg),Quantity,supplied(kg),80,100,40,60,70,90,30,50,60,80,20,40,50,70,10,30,4.1 Supply schedules,As prices rise,a larger quantity of a good is supplied or sold.The typical supply curve slopes down from right to left.This indicates that suppliers or sellers supply or sell more of a good at higher prices and less at lower prices.This is called a movement along the curve.,4.2 Supply curves,A compromise between how much and at what price the seller decides to sell and the consumers plans to buy must be arrived at.This is called the equilibrium price and is the price at which the buyer is prepared to buy the quantity which the seller is prepared to sell at that price,so that the market is cleared and there is no surplus and no shortage.,4.3 Equilibrium price,5.1 Influences which can change demand for goods and services,5.2 Changes in demand,5.Changes in demand,Price received for the item,Prices of related goods,Changes in consumer tastes,Prices of all other goods and services,The income of the consumer,Future expectations,5.1 Influences which can change demand for goods and services,Demand changes simply because price is changing,but none of the other factors which affect the consumers buying have changed.A change in the price of a good results in a movement along an existing demand curve.,Price has remained unchanged but there has been a change in demand caused by factors other than price.The demand curve could shift to the left or right if there is a change in any of these conditions other than price,influencing people to buy less or more of a commodity even if the price remains unchanged.,5.2 Changes in demand,6.1 Influences which can change supply for goods and services,6.2 Changes in supply,6.Changes in supply,The price received for the item,The cost of producing the item,Taxes imposed which raise the items market price to consumers,Subsidies awarded to producers,which reduce the costs of production,Prices of other goods,Future expectations,Changes in supply due to the nature of the good,6.1 Influences which can change supply for goods and services,In the case of supply,any change of price results in a movement up or down the existing supply curve,if no other changes occur to affect supply.,Any change in the conditions other than market prices causes a shift in the supply curve.,6.2 Changes in supply,(1),What factors need to be considered in fixing the price for a new product?,(2),What causes a shift in the market demand curve?,(3),What causes a shift in the market supply curve?,(4),How does the factor of future expectations influence demand and supply?,7,.Questions,Unit 2Text:Cost of Production,（生产成本）,1.Key words,2.What,are costs,?,3.,The,various measures,of,cost,4.Questions,profit-maximizing firm,total cost,opportunity cost,explicit cost,implicit cost,cash outlay,keeping track of the money,financial statement,financial capital,interest rate,economic profit,accounting profit,financial report,normal profit,fixed cost,variable cost,average total cost,average fixed cost,average variable cost,marginal cost,private cost,social cost,social benefit,1,.,Key word,s,2.1 Total revenue,total cost,and profit,2.2 Costs as opportunity costs,2.3 The cost of capital as an opportunity cost,2.4 Economic profit versus accounting profit,2.What are costs?,Total revenue,The amount that the firm receives for the sale of its output is called its total revenue.It equals the quantity of output the firm produces times the price at which it sells its output.,T,otal cost,The amount that the firm pays to buy inputs is called its total cost.,Profit,Profit is a firms total revenue minus its total cost.That is,Profit=Total revenueTotal cost.,2.1 Total revenue,total cost,and profit,2.2.1 Definition of opportunity costs,2.2.2 Explicit and implicit costs,2.2.3 Difference between economists and accountants,2.2 Costs as opportunity costs,The opportunity cost of an item refers to all those things that must be forgone to acquire that item.When economists speak of a firms cost of production,they include all the opportunity costs of making its output of goods and services.,2.2.1 Definition of opportunity costs,Explicit costs,Some costs require the firm to pay out some money,they are called explicit costs.,Implicit costs,Some of a firms opportunity costs,called implicit costs,do not require a cash outlay.,2.2.2 Explicit and implicit costs,The distinction between explicit and implicit costs highlights an important difference between how economists and accountants analyze a business.Economists are interested in studying how firms make production and pricing decisions.Because these decisions are based on both explicit and implicit costs,economists include both when measuring a firms costs.By contrast,accountants have the job of keeping track of the money that flows into and out of firms.As a result,they measure the explicit costs but often ignore the implicit costs.,2.2.3 Difference between economists and accountants,An important implicit cost of almost every business is the opportunity cost of the financial capital that has been invested in the business.,2.3 The cost of capital as an opportunity cost,2.4.1 Economic profit,2.4.2 Accounting profit,2.4.3 Normal profit,2.4 Economic profit versus accounting profit,An economist measures a firms economic profit as the firms total revenue minus all the opportunity costs(explicit and implicit)of producing the goods and services sold.,For a business to be profitable from an economists standpoint,total revenue must cover all the opportunity costs,both explicit and implicit.,2.4.1 Economic profit,An accountant measures the firms accounting profit as the firms total revenue minus only the firms explicit costs.,Notice that because the accountant ignores the implicit costs,accounting profit is usually larger than economic profit.,2.4.2 Accounting profit,Economists call a zero economic profit as normal profit.Normal profit is the minimum profit necessary to keep a firm in operation.Zero economic profit signifies there is just enough total revenue to pay the owners for all explicit and implicit costs.Stated differently,there is no benefit from reallocating resources to another use.,2.4.3 Normal profit,3.1 Fixed and variable costs,3.2 Average and marginal cost,3.3 Private costs and social costs,3.The various measures of cost,Fixed costs,Some costs,called fixed costs,do not vary with the quantity of output produced.They are incurred even if the firm produces nothing at all.,Variable costs,Some of the firms costs,called variable costs,change as the firm alters the quantity of output produced.,T,otal cost,A firms total cost is the sum of fixed and variable costs.,3.1 Fixed and variable costs,3.2.1 Average total cost,3.2.2 Average fixed cost,3.2.3 Average variable cost,3.2.4 Marginal cost,3.2 Average and marginal cost,A,verage total cost divided by the quantity of output is called average total cost.,Because total cost is just the sum of fixed and variable costs,average total cost can be expressed as the sum of average fixed cost and average variable cost.,Average total cost tells us the cost of a typical unit of output if total cost is divided evenly over all the units produced.,3.2.1 Average total cost,Average fixed cost is the fixed cost divided by the quantity of output.,3.2.2 Average fixed cost,Average variable cost is the variable cost divided by the quantity of output.,3.2.3 Average variable cost,Marginal cost=Change in total cost/Change in quantity,Marginal cost tells us the increase in total cost that arises from producing an additional unit of output.,3.2.4 Marginal cost,3.3.1 Private costs,3.3.2 Social costs,3.3 Private costs and social costs,The private costs of a firm are the sum of the explicit and implicit costs that it incurs.,3.3.1 Private costs,The social costs of a firm are those that society in general bears because of the firms activities.,Social costs would include the private costs of a firm,since presumably all of the firms resources could be used elsewhere in producing goods of value to(at least some members of)society.However,social costs would also include costs paid for by society but not by the firm,even though such costs were a result of production by the firm.,3.3.2 Social costs,(1)What is the relationship between a firms total revenue,profit,and total cost?,(2)What is the relationship between a firms total cost,average total cost,and marginal cost?,(3)Explain the opportunity cost.,(4)What is the difference between economic profit and accounting profit.,(5)Give an example of a social cost which is paid for by society but not by the firm because of the result of production by the firm,explain.,4,.Questions,Unit 3Text:Monopoly,（垄断）,1.Key words,2.Why,monopolies arise,3.,Public,policy toward monopolies,4.Questions,barriers to entry,market power,business license,patent and copyright laws,natural monopoly,economies of scale,monopoly power,economic well-being,total surplus,marginal-cost pricing,dead-weight loss,average-cost pricing,regulatory system,public ownership,special-interest group,industrial organization,market failure,political failure,1,.,Key word,s,2.1 Definition and the fundamental cause of Monopoly,2.2 Three main sources for barriers to entry,2.Why
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