APS专业审核考试宏观经济学doc.docx
- 文档编号:12336114
- 上传时间:2023-04-18
- 格式:DOCX
- 页数:18
- 大小:170.40KB
APS专业审核考试宏观经济学doc.docx
《APS专业审核考试宏观经济学doc.docx》由会员分享,可在线阅读,更多相关《APS专业审核考试宏观经济学doc.docx(18页珍藏版)》请在冰豆网上搜索。
APS专业审核考试宏观经济学doc
APS专业审核考试宏观经济学
Economics
1.Absoluteadvantage:
abilityofaparty(anindividual,orfirm,orcountry)toproducemoreofagoodorservicethancompetitors,usingthesameamountofresources.
2.Comparativeadvantage:
theabilityofapartytoproduceaparticulargoodorserviceataloweropportunitycostoveranother.Evenifonecountryismoreefficientintheproductionofallgoods(absoluteadvantageinallgoods)thantheother,bothcountrieswillstillgainbytradingwitheachother,aslongastheyhavedifferentrelativeefficiencies.
3.Opportunitycost:
thelossofpotentialgainfromotheralternativeswhenonealternativeischosen.
例子:
Tomato
Pork
A
10kg
2kg
✓B
10kg
1kg
4.Supplyanddemand
Supplyanddemandisaneconomicmodelofpricedeterminationinamarket.
Asupplyscheduleisatablethatshowstherelationshipbetweenthepriceofagoodandthequantitysupplied.
Thedeterminantsofsupplyare:
1)Productioncosts:
howmanyagoodcoststobeproduced.Productioncostsarethecostoftheinputs,primarilylabor,capital,energyandmaterials.Productioncostsdependonthetechnologyusedinproduction,and/ortechnologicaladvances.
2)Firms'expectationsaboutfutureprices
3)Numberofsuppliers
Ademandschedulerepresentstheamountofsomegoodthatbuyersarewillingandabletopurchaseatvariousprices.Followingthelawofdemand,thedemandcurveisalmostalwaysrepresentedasdownward-sloping,meaningthataspricedecreases,consumerswillbuymoreofthegood.
Thedeterminantsofdemandare:
1)Income.
2)Tastes&preferences.
3)Pricesofrelatedgoodsandservices.
4)Consumers'expectationsaboutfuturepricesandincomesthatcanbechecked.
5)Numberofpotentialconsumers.
Thefourbasiclawsof supply and demand are:
1.Ifdemandincreases(demandcurveshiftstotheright)andsupplyremainsunchanged,ashortageoccurs,leadingtoahigherequilibriumprice.
Whenconsumersincreasethequantitydemandedatagivenprice,itisreferredtoasanincreaseindemand.Increaseddemandcanberepresentedonthegraphasthecurvebeingshiftedtotheright.
2.Ifdemanddecreases(demandcurveshiftstotheleft)supplyremainsunchanged,asurplusoccurs,leadingtoalowerequilibriumprice.
3.Ifdemandremainsunchangedandsupplyincreases(supplycurveshiftstotheright),asurplusoccurs,leadingtoalowerequilibriumprice.
4.Ifdemandremainsunchangedandsupplydecreases(supplycurveshiftstotheleft),ashortageoccurs,leadingtoahigherequilibriumprice.
MarketEquilibrium[,ikwɪ'lɪbrɪəm]:
Thequantitythatconsumersdemandiscorrectlybalancedbythequantitythatfirmswishtosupply.
5.Perfectcompetition:
existswheneveryparticipantisa"pricetaker",andnoparticipantinfluencesthepriceoftheproductitbuysorsells.
1)Alargenumberbuyersandsellers
2)Nobarriersofentryandexit-makeitextremelyeasytoenterorexitaperfectlycompetitivemarket.
3)Perfectinformation-Allconsumersandproducersareassumedtohaveperfectknowledgeofprice,utility,qualityandproductionmethodsofproducts.
4)Homogenousproducts-Thequalitiesandcharacteristicsofamarketgoodorservicedonotvarybetweendifferentsuppliers.
5)Zerotransactioncosts-Buyersandsellersdonotincurcostsinmakinganexchangeofgoodsinaperfectlycompetitivemarket.
6)Noexternalities-costsorbenefitsofanactivitydonotaffectthirdparties.
7)Perfectfactormobility–Inthelongrunfactorsofproductionareperfectlymobile,allowingfreelongtermadjustmentstochangingmarketconditions.
8)Profitmaximization-Firmsareassumedtosellwheremarginalcostsmeetmarginalrevenue,wherethemostprofitisgenerated.
6.Marketfailuresareoftenassociatedwith
non-competitivemarkets:
1)Noeveryoneis"pricetaker".Thereismonopolyoroligopoly.
2)Nobarriersofentryandexit-makeitextremelyeasytoenterorexitaperfectlycompetitivemarket.
3)Informationasymmetries:
onepartyhasmoreorbetterinformationthantheother.NoPerfectinformation.
4)Transactioncosts-Buyersandsellersdonotincurcostsinmakinganexchangeofgoodsinaperfectlycompetitivemarket.
Searchandinformationcostsarecostssuchasthoseincurredindeterminingthattherequiredgoodisavailableonthemarket,whichhasthelowestprice,etc.
Bargainingcostsarethecostsrequiredtocometoanacceptableagreementwiththeotherpartytothetransaction,drawingupanappropriatecontractandsoon.Ingametheorythisisanalyzedforinstanceinthegameofchicken.Thetransactioncostissomefunctionofthedistancebetweenthebidandask.
Policingandenforcementcostsarethecostsofmakingsuretheotherpartystickstothetermsofthecontract,andtakingappropriateaction(oftenthroughthelegalsystem)ifthisturnsoutnottobethecase.
5)Externalities-costsorbenefitsofanactivityhaveeffectonthirdparties.
6)Publicgoods:
ØNon-rivalry:
Anon-rivalgoodisagoodwhoseconsumptionbyoneconsumercannotpreventsatthesametimeconsumptionbyotherconsumers.
ØNon-excludability:
itisimpossibletoexcludeanyindividualsfromconsumingthegood.
7)NonrationalPreferences,differentchoice
Meritgoods:
agoodwhichwouldbeunder-consumed(andunder-produced)inthefreemarketeconomy.Ameritgoodcreatespositiveexternalities.
Individualsaremyopic,theyareshort-termutilitymaximizersandsodonottakeintoaccountthelongtermbenefitsofconsumingameritgoodandsotheyareunder-consumed.
Demeritgoods:
isagoodorservicewhoseconsumptionisconsideredunhealthy,degrading,orotherwisesociallyundesirableduetotheperceivednegativeeffectsontheconsumersthemselves.
Economiesofscale:
arethecostadvantageswithcostperunitofoutputgenerallydecreasingwithincreasingscaleasfixedcostsarespreadoutovermoreunitsofoutput.
Diseconomiesofscale:
increasedper-unitcosts
Microeconomics
Abranchofeconomicsthatstudiesthebehaviorofindividualsandsmallimpactingorganizationsinmakingdecisionsontheallocationoflimitedresources.
Demand,supply,andequilibrium
Supplyanddemandisaneconomicmodelofpricedeterminationinamarket.Itconcludesthatinacompetitivemarket,theunitpriceforaparticulargoodwillvaryuntilitsettlesatapointwherethequantitydemandedbyconsumerswillequalthequantitysuppliedbyproducersresultinginaneconomicequilibriumforpriceandquantity.
Measurementofelasticities
Elasticityisthemeasurementofhowresponsiveaneconomicvariableistoachangeinanothervariable.Elasticitycanbequantifiedastheratioofthepercentagechangeinonevariabletothepercentagechangeinanothervariable,whenthelattervariablehasacausalinfluenceontheformer.Itisatoolformeasuringtheresponsivenessofavariable.Frequentlyusedelasticityincludepriceelasticityofdemand,priceelasticityofsupply,incomeelasticityofdemand,elasticityofsubstitution.
✓当E_d=0:
完全无弹性(perfectlyinelastic)
✓当0 缺乏弹性、不富弹性,或无弹性(inelastic) ✓当E_d=1: 单位弹性、单一弹性,或恒一弹性(unitarilyelastic) ✓当1 富有弹性(elastic) ✓当E_d=∞: 完全弹性或完全有弹性(perfectlyelastic) 1)Priceelasticityofdemand(absolutevalue)= Anumberoffactorscanthusaffecttheelasticityofdemandforagood: 1.Availabilityofsubstitutegoods: peoplecaneasilyswitchfromonegoodtoanotherifanevenminorpricechangeismade.Thereisastrongsubstitutioneffect.Ifnoclosesubstitutesareavailable,thesubstitutioneffectwillbesmallandthedemandinelastic. 2.Breadthofdefinitionofagood: thebroaderthedefinitionofagood(orservice),thelowertheelasticity. 3.Percentageofincome: thehigherthepercentageoftheconsumer'sincomethattheproduct'spricerepresents,thehighertheelasticitytendstobe. 4.Necessity: themorenecessaryagoodis,thelowertheelasticity,aspeoplewillattempttobuyitnomattertheprice,suchasthecaseofinsulinforthosethatneedit. 5.Duration: formostgoods,thelongerapricechangeholds,thehighertheelasticityislikelytobe,asmoreandmoreconsumersfindtheyhavethetimeandinclination(perfer)tosearchforsubstitutes.Whenfuelpricesincreasesuddenly,forinstance,consumersmaystillfilluptheiremptytanksintheshortrun,butwhenpricesremainhighoverseveralyears,moreconsumerswillreducetheirdemandforfuelbyswitchingtocarpoolingorpublictransportation,investinginvehicleswithgreaterfueleconomyortakingothermeasures. 6.Brandloyalty: anattachmenttoacertainbran 7.Whopays: wherethepurchaserdoesnotdirectlypayforthegoodtheyconsume,suchaswithcorporateexpenseaccounts,demandislikelytobemoreinelastic. 2)Priceelasticityofsupply= Determinants 1.Availabilityofrawmaterials: Forexample,availabilitymaycaptheamountofgoldthatcanbeproducedinacountryregardlessofprice.Likewise,thepriceofVanGoghpaintingsisunlikelytoaffecttheirsupply. 2.Mobilityoffactors: Ifthefactorsofproductionareeasilyavailableandifaproducerproducingonegoodcanswitchtheirresourcesandputittowardsthecreationofaproductindemand,thenitcanbesaidthatthePESisrelativelyelastic.Theinverseappliestothis,tomakeitrelativelyinelastic. 3.Lengthandcomplexityofproduction: Muchdependsonthecomplexityoftheproductionprocess.ThePESforspecifictypesofmotorvehiclesisrelativelyinelastic.Automanufactureisamulti-stageprocessthatrequiresspecializedequipment,skilledlabor,alargesuppliersnetworkandlargeR&Dcosts.买冰激凌 4.Timetorespond: Supplyisnormallymoreelasticinthelongrunthanintheshortrunforproducedgoods,sinceitisgenerall
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- APS 专业 审核 考试 宏观经济学 doc