曼昆经济学原理chapt1chapt15笔记整理Word格式文档下载.docx
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曼昆经济学原理chapt1chapt15笔记整理Word格式文档下载.docx
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Thecostofsthiswhatyougiveuptogetit
Opportunitycost:
whatyougiveuptogetthatitem
Rationalpeoplethinkatthemargin
Theysystematicallyandpurposefullydothebesttoachievetheirobjectives
Marginalchangesareadjustmentsaroundtheedgesofwhatyouaredoing
3)
Rationalpeoplemakedecisionsbycomparingmarginalbenefitsandcosts
4)
People’swillingnesstopayforanygoodisthemarginalbenefitofanextraunitofthegoodwouldbring
Peoplerespondtoincentives
Publicpolicymakersà
incentivesà
policieschangepeople’sbehavior.E.g.tax
Howpeopleinteract
5.
Tradecanmakeeveryonebetteroff
Allowcountriestospecializeinwhattheydobestandtoenjoymoregoods
6.
Marketsareusuallyagoodwaytoorganizeeconomicactivity
Marketeconomyismoresuccessful
Theinvisiblehandispricewhichadjusttomaximizethewelfareofsociety
7.
Governmentscansometimesimprovemarketoutcomes
ReasonswhyweneedG
Invisiblehandworksonlyifpropertyrightsareenforced
Invisiblehandispowerfulbutnotomnipotent全能的;
policiesaimtopromotebothefficiencyandequityà
Marketfailureà
asituationinwhichthemarketonitsownfailstoproduceanefficientallocationofresources.Causes:
externalityandmarketpower
Invisiblehandfailtoensurethateconomicprosperityisdistributedequitably
Howtheeconomyasawholeworks
8.
Acountry’sstandardoflivingdependsonitsabilitytoproducegoodsandservices
Productivityà
thequantityofgoodsandservicesproducedfromeachhourofaworker’stimeà
productivityhigh,livingstandardhigh
Far-reachingandpublicpolicywillimplicatetherelationshipbetweenproductivityandlivingsrandard
9.
PricesrisewhentheGprintstoomanymoney
Keepinflationatalowlevel
Growthintheamountofmoneycausesinflation
10.
Societyfacesashort-runtrade-offbetweeninflationandunemployment
Businesscycleà
fluctuationsineconomicactivity,suchasemploymentandproduction
Chapter2:
Thinkinglikeaneconomist
Thescientificmethod:
observationà
theoryà
moreobservationà
advancedtheory
Economistsmakeassumptionsbecausetheycansimplifythecomplexworldandmakeiteasiertounderstand
Economistsusediff.assumptionstoanswerdiff.Qs
Economistsusemodels,whicharebuiltwithassumptionsandcomposedofdiagramsandequations,tolearnabouttheworld
Model1:
thecircular-flowdiagramà
onlytwotypesofdecisionmakersà
firmsandhouseholds
Model2:
theproductionpossibilitiesfrontier
TheshapeofPPFisbowedoutward
OnPPFà
efficiencylevelofproduction;
InoroutoffPPTà
inefficiency
PPFshowstheopportunitycostofonegoodasmeasuredintermsoftheothergood
Theopportunitycostofproducts’quantityisreflectedintheshapeofthePPF
PositiveVSnormativeanalysis
PS:
descriptive;
claimsabouthowtheworldisà
scientists
NS:
prescriptive;
claimsabouthowtheworldoughttobeà
policyadvisers
Thefieldofeconomicsisdividedintomicroeconomicsandmacroeconomics
Differencesinscientificjudgmentsorvaluescausetheconflictionsbetweeneconomistswhoadvisepolicymaker
Chapter4:
Themarketforcesofsupplyanddemand
Marketandcompetition
Market
Buyersandsellersà
demandandsupply
Highlyorganizedandlessorganizedmarketà
agriculturalcommoditiesandicecreammarket
Perfectlycompetitionmarket
Goodsareexactlythesame
Sonumerousbuyersandsellersà
nosingleonewillinfluencethemarketprice
Buyersandsellersarepricetakers,andcanbuyorsellalltheywant
e.g.wheatmarket,icecreammarket
5)
Economistsusethemodelofsupplyanddemandtoanalyzethismarket
Demand
Quantitydemanded:
theamountofgoodthatbuyersarewillingandabletobuy
Thequantitydemandedisnegativelyrelatedtothepriceà
pricerises,quantitydemandedfallsà
priceaffectamovementalongthedemandcurve
Marketdemandisthesumofalltheindividualsdemandsforagood
Demandcurve:
whathappenstothequantitydemandedofagoodwhenthepricevaries
Curveshiftswhenthereisachangeinarelevantvariablethatisnotmeasuredoneitheraxis
Shiftsindemandcurve(right,increaseindemand;
left,decrease)
Income
Normalgood(includenecessityandluxury):
incomefallsà
demandfalls(positivecorrelation);
e.g.icecream
Inferiorgood:
demandrises(negativecorrelation);
e.g.torideabus
Pricesofrelatedgoods
Substitutes:
priceofonegoodfalls,demandofanothergoodreduceà
pairsofgoodsinplaceofeachother;
e.g.hotdogsandhamburgers
Complements:
priceofonegoodfalls,demandofanothergoodraisesà
pairsofgoodsusedtogether;
e.g.computerandsoftware
Tastes:
themostobviousdeterminantofthedemand;
likeà
buymore
Expectations
Expecthigherincomeà
savelessà
buymoretoday
Expecthigherpriceà
Numbersofbuyers:
moremembers,shifttoright
Supply
Quantitysuppliedistheamountthatsellersarewillingandabletosellà
positiverelatedtothegood’spriceà
changeofpriceleadtosupply’schange
Marketsupplyisthesumofthesuppliesofallsellersà
addallofthesuppliers
Shiftsinthesupplycurve
Inputpricesà
input’spricerisessubstantially,shifttoleft
Technologyà
advance
intechnology,raisethesupply
Expectationsà
firm,priceriseinthefuture,supplyless
Numberofsellersà
moremembers,highersupply
Equilibrium
Equilibrium:
marketpiecehasreachedthelevelatwhichquantitysupplied=quantitydemandedà
thequantityofgoodsbuyersarewillingandabletobuy=sellersarewillingandabletosell
Equilibriumprice=market-clearingpriceà
everyoneinthemarkethasbeensatisfiedà
determineshowmuchofthegoodbuyerschoosetopurchaseandhowmuchsellerschoosetoproduce
Actualprice>
Epriceà
surplus=excesssupplyà
quantitysupplied>
quantitydemandedà
sellerscutthepriceà
increasequantitydemandedanddecreasequantitysupplied
Marketprice<
shortage=excessdemandà
quantitysupplied<
sellersraisethepriceà
quantitydemandedfallsandquantitysuppliedrises
Lawofsupplyanddemand:
thepriceofanygoodadjuststobringthequantitysuppliedandquantitydemandedforthatgoodintobalance
Howquicklypricesadjustdeterminehowquicklyequilibriumisreached;
varyfrommarkettomarket
Surplusesandshortagesinfreemarketaretemporary
ThreestepstoanalyzingchangesinE
Decidewhethertheeventsshiftsthesupplyordemandcurve(orperhapsboth)
Decideinwhichdirectionthecurveshifts
Usethesupply-and-demanddiagramtoseehowtheshiftchangestheequilibriumpriceandquantity(comparenewEwiththeinitialE)
Ashiftinthesupply/demandcurve=changeinsupply/demand;
amovementalongafixedsupply/demandcurve=changeinthequantitysupplied/demanded
Nochanges
inS
AnincreaseinS
AdecreaseinS
NochangeinD
P,Qsame
Pdown,Qup
Pup,Qdown
AnincreaseinD
Pup,Qup
Pambiguous,Qup
Pup,Qambi.
AdecreaseinD
Pdown,Qdown
Pdown,Qambiguous
Pambi.,Qdown
Conclusion
Supplyanddemandtogetherdeterminethepricesofgoods,priceinturnguidetheallocationofresources
Pricesdeterminewhobuyseachgoodandhowmuchisproduced
Chapter5:
Elasticityanditsapplication
Thepriceelasticityofdemand
Determinantofthepriceelasticityofdemand
Moreelasticdemand
Lesselasticdemand
Goodswithclosesubstitutes
e.g.butterandmargarine
Without
e.g.eggs
Luxuries
Necessities
Narrowlydefinedmarket
e.g.icecream
Broadlydefinedmarket
e.g.food
Longertimehorizons
Shortertimehorizons
Priceelasticityofdemand=%changeinquantitydemanded/%changeinprice
Alargerpriceelasticityà
agreaterresponsivenessofquantitydemandedtoprice
Midpointmethod:
abetterway
Priceelasticityofdemand=[(Q2-Q1)/(Q2+Q1)]/[(P2-P1)/(P2+P1)]
Thevarietyofdemandcurves:
theflatterthedemandcurvethatpassesthroughagivenpoint,thegreaterthepriceelasticityofdemand
Perfectlyinelastic:
elasticity=0,demandcurveisvertical
Inelastic:
elasticity<
1,demandcurveseemssteep
Priceandtotalrevenuemoveinthesamedirection
Unitelasticity:
elasticity=1
Totalrevenueremainsconstantwhenthepricechange
Elastic:
elasticity>
1,demandcurveseemsflat
Priceandtotalrevenuemoveinoppositedirections
Perfectlyelastic:
elasticity=infinity,demandcurveishorizontal
Theslopeofalineardemandcurve=1whiletheelasticityisnotthesamealongtheentirecurve.
Otherdemandela
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