微观经济学01.ppt

Click to edit Master title style and for two-line headings,Click to edit Master text styles,*,of 28,2006 Prentice Hall Business Publishing Economics R.Glenn Hubbard,Anthony Patrick OBrien1,st,ed.,CHAPTER 1:Economics:Foundations and Models,Economics:Foundations and Models,References,(1)R.Glenn Hubbard;Anthony Patrick OBrien,，,Economics,，机械工业出版社,(2)Samuelson and,Nordhars,Economics,17th,Ed.,McGraw,-Hill,Inc.,New,York,2001,(3),微观经济学,罗伯特,S,平狄克,(Robert,S.Pindyck,),、丹尼尔,L,鲁宾费尔德,(Daniel,L.Rubinfeld,),中国人民大学出版社,2,F,inal score,Discussion 10%,Homework 20%,Final exam,70%,100%,3,Topics,Gasoline price,Apple and Jobs,Debt crisis of EUR(macro),CPI and Currency policy(macro),4,Part 1.Introduction,Chapter 1.Economics:Foundations and ModelsChapter 2.Tradeoffs,Comparative Advantage,and the Market SystemChapter 3.Where Prices Come From:The Interaction of Demand and SupplyChapter 4.Economic Efficiency,Government Price Setting,and Taxes,Part 2.Markets in Action,Chapter 5.Externalities,Environmental Policy,and Public GoodsChapter 6.Elasticity:The Responsiveness of Demand and Supply,Part 3.Firms in the Domestic and International Economies,Chapter 7.Firms,the Stock Market,and Corporate GovernanceChapter 8.Comparative Advantage and the Gains from International Trade,5,Part 4.Microeconomic Foundations:Consumers and Firms,Chapter 9.Consumer Choice and Behavioral EconomicsChapter 10.Production,Technology,and Costs,Part 5.Market Structure and Firm Strategy,Chapter 11.Firms in Perfectly Competitive MarketsChapter 12.Monopolistic Competition:The Competitive Model in a More Realistic SettingChapter 13.Oligopoly:Firms in Less Competitive MarketsChapter 14.Monopoly and Antitrust PolicyChapter 15.Pricing Strategy,Part 6.Markets for Factors of Production,Chapter 16.The Markets for Labor and Other Factors of Production,Part 7.Information,Taxes,and the Distribution of Income,Chapter 17.The Economics of InformationChapter 18.Public Choice,Taxes,and the Distribution of Income,6,After studying this chapter,you should be able to:,Discuss these three important economic ideas:People are rational.People respond to incentives.Optimal decisions are made at the margin.,Discuss how an economy answers these questions:What goods and services will be produced?How will the goods and services be produced?Who will receive the goods and services?,Understand the role of models in economic analysis.,Distinguish between microeconomics and macroeconomics.,Become familiar with important economic terms.,What Happens When U.S.FirmsMove to China?,LEARNING OBJECTIVES,1,2,3,4,5,“,Many U.S.,Japanese,and European firms have been moving the production of goods and services to other countries.”,7,Economics:Foundations and Models,In this book,we use economics to answer questions such as the following:,“How are the prices of goods and services determined?”,“How does pollution affect the economy,and how should government policy deal with these effects?”,“Why do firms engage in international trade,and how do government policies affect international trade?”,“Why does government control the prices of some goods and services,and what are the effects of those controls?”,8,Economics:Foundations and Models,Scarcity,The situation where unlimited wants exceed the limited resources available to fulfill those wants.,Economics,The study of the choices people make to attain their goals,given their scarce resources.,9,Building a Foundation:Economics and Individual Decisions,LEARNING OBJECTIVE,1,Market,An arrangement or institution that brings together buyers and sellers of a good or service.,Marginal analysis,Analysis that involves comparing marginal benefits and marginal costs.,Three important ideas:,People are rational,People respond to economic incentives,Optimal decisions are made at the margin,10,Apple Computer Makes a Decision at the Margin,1-1,LEARNING OBJECTIVE,1,Should Apple produce an additional 300,000 iPods?,In solving the problem,consider the following:,Optimal decisions are made at the margin.,An activity should be continued to the point where the marginal benefit is equal to the marginal cost.,In this case,the correct decision requires information about additional revenue and additional cost.,11The Economic Problem That Every Society Must Solve,LEARNING OBJECTIVE,2,Trade-off,The idea that because of scarcity,producing more of one good or service means producing less of another good or service.,Three fundamental questions:,What goods and services will be produced?,How will the goods and services be produced?,Who will receive the goods and services produced?,12,The Economic Problem That Every Society Must Solve,Centrally planned economy,An economy in which the government decides how economic resources will be allocated.,Market economy,An economy in which the decisions of households and firms interacting in markets allocate economic resources.,Centrally Planned Economies versus Market Economies,13,The Modern“Mixed”Economy,Mixed economy,An economy in which most economic decisions result from the interaction of buyers and sellers in markets,but where the government plays a significant role in the allocation of resources.,14,The Modern“Mixed”Economy,Productive efficiency,Occurs when a good or service is produced at the lowest possible cost.,Allocative efficiency,A state of the economy in which production reflects consumer preferences;in particular,every good or service is produced up to the point where the last unit provides a marginal benefit to consumers equal to the marginal cost of producing it.,Voluntary exchange,The situation that occurs in markets when both the buyer and seller of a product are made better off by the transaction.,Equity,The fair distribution of economic benefits.,Efficiency and Equity,15,Economic Models,LEARNING OBJECTIVE,3,Economic model,A simplified version of some aspect of economic life used to analyze an economic issue.,To develop a model,economists generally follow these steps:,Decide,on the assumptions to be used in developing the model.,Formulate,a testable hypothesis.,Use,economic data to test the hypothesis.,Revise,the model if it fails to explain properly the economic data.,Retain,the revised model to help answer similar economic questions in the future.,Economic variable,Something measurable that can have different values,such as the wages of software programmers.,16,Economic Models,Positive analysis,Analysis concerned with what is.,Normative analysis,Analysis concerned with what ought to be.,Normative and Positive Analysis,Dont Confuse Positive Analysis with Normative Analysis,Does outsourcing by U.S.firms raise or lower incomes in the United States?,When Economists Disagree:A Debate Over Outsourcing,1-1,17,Microeconomics and Macroeconomics,LEARNING OBJECTIVE,4,Microeconomics,The study of how households and businesses make choices,how they interact in markets,and how the government attempts to influence their choices.,Macroeconomics,The study of the economy as a whole,including topics such as inflation,unemployment,and economic growth.,18,A Preview of Important Economic Terms,LEARNING OBJECTIVE,5,Entrepreneur,Innovation,Technology,Firm,company,or business,Goods,Services,Revenue,Opportunity cost,Profit,Household,Factors of production or economic resources,Capital,Human capital,19,Many countries,including the United States,have experienced rapidly increasing exports to China.,The Halo Effect:How Chinas Expansion Will Affect Jobs and Growth Elsewhere,20,Allocative efficiency,Centrally planned economy,Economic model,Economic variable,Economics,Equity,Macroeconomics,Marginal analysis,Market,Market economy,Microeconomics,Mixed economy,Normative analysis,Positive analysis,Productive efficiency,Scarcity,Trade-off,Voluntary exchange,21,Appendix 1A:,Using Graphs and Formulas,A graph is like a street mapit is a simplified version of reality,22,Appendix 1A:,Using Graphs and Formulas,Graphs of One Variable,1A-1,Market Shares in the U.S.Automobile Market,23,Appendix 1A:,Using Graphs and Formulas,1A-2,Time-Series Graphs,Graphs of One Variable,24,Appendix 1A:,Using Graphs and Formulas,Graphs of Two Variables,1A-3,Plotting Price and QuantityPoints in a Graph,25,Appendix 1A:,Using Graphs and Formulas,1A-4,Calculating the Slope of a Line,Graphs of Two Variables,Slopes of Lines,26,Appendix 1A:,Using Graphs and Formulas,1A-5,Graphs of Two Variables,Taking Into Account More Than Two Variables on a GraphShowing Three Variables on a Graph,27,Appendix 1A:,Using Graphs and Formulas,1A-6,Graphs of Two Variables,Positive and Negative Relationships,Graphing the Direct Relationship between Income and Consumption Spending,28,Appendix 1A:,Using Graphs and Formulas,1A-7,Graphs of Two Variables,Slopes of Nonlinear Curves,The Slope of a Nonlinear Curve,29,Appendix 1A:,Using Graphs and Formulas,Formulas,Formula for a Percentage Change,Using the growth of Gross Domestic Product(GDP)as an example:,30,Appendix 1A:,Using Graphs and Formulas,1A-8,Formulas,Formulas for the Areas of a Rectangle and a Triangle,Showing a Firms TotalRevenue on a Graph,31,Appendix 1A:,Using Graphs and Formulas,1A-9,Formulas,Formulas for the Areas of a Rectangle and a Triangle,The Area of a Right Triangle,32,Appendix 1A:,Using Graphs and Formulas,Formulas,Summary of Using Formulas,Whenever you must use a formula,you should follow these steps:,M,ake sure you understand the economic concept that the formula represents.,M,ake sure that you are using the correct formula for the problem you are solving.,M,ake sure that the number you calculate using the formula is economically reasonable.For example,if you are using a formula to calculate a firms revenue and your answer is a negative number,you know you made a mistake somewhere.,33,