曼昆经济学原理chapt1chapt15笔记整理.docx
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曼昆经济学原理chapt1chapt15笔记整理.docx
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曼昆经济学原理chapt1chapt15笔记整理
Chapter1:
Introduction
前言
1. Societyallocatespeopletovariousjobsandtheoutputofgoodsandservices.
2. Scarcitymeansthatresourcesarelimitedsocannotproduceallthegoodsandservicespeoplewant.
3. Economicsisthestudyofhowsocietymanagesitsscareresources.
4. Economistsstudy3things:
· Howpeoplemakedecisions
· Howpeopleinteractwithoneanother
· Analyzeforcesandtrendsthataffecttheeconomyasawhole
Howpeoplemakedecisions(10principles)
1. Peoplefacetrade-off
1) Makingdecisionsrequirestradingoffonegoalagainstanother.
2) Trade-offsocietyfaces:
· Gunsandbutter;acleanenvironmentandahighlevelofincome
· Efficiencyandequityàmaximumbenefitsandfair
2. Thecostofsthiswhatyougiveuptogetit
1) Opportunitycost:
whatyougiveuptogetthatitem
3. Rationalpeoplethinkatthemargin
1) Theysystematicallyandpurposefullydothebesttoachievetheirobjectives
2) Marginalchangesareadjustmentsaroundtheedgesofwhatyouaredoing
3) Rationalpeoplemakedecisionsbycomparingmarginalbenefitsandcosts
4) People’swillingnesstopayforanygoodisthemarginalbenefitofanextraunitofthegoodwouldbring
4. Peoplerespondtoincentives
1) Publicpolicymakersàincentivesàpolicieschangepeople’sbehavior.E.g.tax
Howpeopleinteract
5. Tradecanmakeeveryonebetteroff
1) Allowcountriestospecializeinwhattheydobestandtoenjoymoregoods
6. Marketsareusuallyagoodwaytoorganizeeconomicactivity
1) Marketeconomyismoresuccessful
2) Theinvisiblehandispricewhichadjusttomaximizethewelfareofsociety
7. Governmentscansometimesimprovemarketoutcomes
1) ReasonswhyweneedG
· Invisiblehandworksonlyifpropertyrightsareenforced
· Invisiblehandispowerfulbutnotomnipotent全能的;policiesaimtopromotebothefficiencyandequityàMarketfailureàasituationinwhichthemarketonitsownfailstoproduceanefficientallocationofresources.Causes:
externalityandmarketpower
· Invisiblehandfailtoensurethateconomicprosperityisdistributedequitably
Howtheeconomyasawholeworks
8. Acountry’sstandardoflivingdependsonitsabilitytoproducegoodsandservices
1) Productivityàthequantityofgoodsandservicesproducedfromeachhourofaworker’stimeàproductivityhigh,livingstandardhigh
2) Far-reachingandpublicpolicywillimplicatetherelationshipbetweenproductivityandlivingsrandard
9. PricesrisewhentheGprintstoomanymoney
1) Keepinflationatalowlevel
2) Growthintheamountofmoneycausesinflation
10. Societyfacesashort-runtrade-offbetweeninflationandunemployment
1) Businesscycleàfluctuationsineconomicactivity,suchasemploymentandproduction
Chapter2:
Thinkinglikeaneconomist
1. Thescientificmethod:
observationàtheoryàmoreobservationàadvancedtheory
2. Economistsmakeassumptionsbecausetheycansimplifythecomplexworldandmakeiteasiertounderstand
3. Economistsusediff.assumptionstoanswerdiff.Qs
4. Economistsusemodels,whicharebuiltwithassumptionsandcomposedofdiagramsandequations,tolearnabouttheworld
Model1:
thecircular-flowdiagramàonlytwotypesofdecisionmakersàfirmsandhouseholds
Model2:
theproductionpossibilitiesfrontier
1) TheshapeofPPFisbowedoutward
2) OnPPFàefficiencylevelofproduction;InoroutoffPPTàinefficiency
3) PPFshowstheopportunitycostofonegoodasmeasuredintermsoftheothergood
4) Theopportunitycostofproducts’quantityisreflectedintheshapeofthePPF
5. PositiveVSnormativeanalysis
PS:
descriptive;claimsabouthowtheworldisàscientists
NS:
prescriptive;claimsabouthowtheworldoughttobeàpolicyadvisers
6. Thefieldofeconomicsisdividedintomicroeconomicsandmacroeconomics
7. Differencesinscientificjudgmentsorvaluescausetheconflictionsbetweeneconomistswhoadvisepolicymaker
Chapter4:
Themarketforcesofsupplyanddemand
Marketandcompetition
1. Market
1) Buyersandsellersàdemandandsupply
2) Highlyorganizedandlessorganizedmarketàagriculturalcommoditiesandicecreammarket
2. Perfectlycompetitionmarket
1) Goodsareexactlythesame
2) Sonumerousbuyersandsellersànosingleonewillinfluencethemarketprice
3) Buyersandsellersarepricetakers,andcanbuyorsellalltheywant
4) e.g.wheatmarket,icecreammarket
5) Economistsusethemodelofsupplyanddemandtoanalyzethismarket
Demand
1. Quantitydemanded:
theamountofgoodthatbuyersarewillingandabletobuy
1) Thequantitydemandedisnegativelyrelatedtothepriceàpricerises,quantitydemandedfallsàpriceaffectamovementalongthedemandcurve
2) Marketdemandisthesumofalltheindividualsdemandsforagood
2. Demandcurve:
whathappenstothequantitydemandedofagoodwhenthepricevaries
3. Curveshiftswhenthereisachangeinarelevantvariablethatisnotmeasuredoneitheraxis
4. Shiftsindemandcurve(right,increaseindemand;left,decrease)
1) Income
· Normalgood(includenecessityandluxury):
incomefallsàdemandfalls(positivecorrelation);e.g.icecream
· Inferiorgood:
incomefallsàdemandrises(negativecorrelation);e.g.torideabus
2) Pricesofrelatedgoods
· Substitutes:
priceofonegoodfalls,demandofanothergoodreduceàpairsofgoodsinplaceofeachother;e.g.hotdogsandhamburgers
· Complements:
priceofonegoodfalls,demandofanothergoodraisesàpairsofgoodsusedtogether;e.g.computerandsoftware
3) Tastes:
themostobviousdeterminantofthedemand;likeàbuymore
4) Expectations
· Expecthigherincomeàsavelessàbuymoretoday
· Expecthigherpriceàbuymoretoday
5) Numbersofbuyers:
moremembers,shifttoright
Supply
1. Quantitysuppliedistheamountthatsellersarewillingandabletosellàpositiverelatedtothegood’spriceàchangeofpriceleadtosupply’schange
2. Marketsupplyisthesumofthesuppliesofallsellersàaddallofthesuppliers
3. Shiftsinthesupplycurve
1) Inputpricesàinput’spricerisessubstantially,shifttoleft
2) Technologyàadvance intechnology,raisethesupply
3) Expectationsàfirm,priceriseinthefuture,supplyless
4) Numberofsellersàmoremembers,highersupply
Equilibrium
1. Equilibrium:
marketpiecehasreachedthelevelatwhichquantitysupplied=quantitydemandedàthequantityofgoodsbuyersarewillingandabletobuy=sellersarewillingandabletosell
2. Equilibriumprice=market-clearingpriceàeveryoneinthemarkethasbeensatisfiedàdetermineshowmuchofthegoodbuyerschoosetopurchaseandhowmuchsellerschoosetoproduce
3. Actualprice>Epriceàsurplus=excesssupplyàquantitysupplied>quantitydemandedàsellerscutthepriceàincreasequantitydemandedanddecreasequantitysupplied
4. Marketprice 5. Lawofsupplyanddemand: thepriceofanygoodadjuststobringthequantitysuppliedandquantitydemandedforthatgoodintobalance 6. Howquicklypricesadjustdeterminehowquicklyequilibriumisreached;varyfrommarkettomarket 7. Surplusesandshortagesinfreemarketaretemporary ThreestepstoanalyzingchangesinE 1. Decidewhethertheeventsshiftsthesupplyordemandcurve(orperhapsboth) 2. Decideinwhichdirectionthecurveshifts 3. Usethesupply-and-demanddiagramtoseehowtheshiftchangestheequilibriumpriceandquantity(comparenewEwiththeinitialE) 4. Ashiftinthesupply/demandcurve=changeinsupply/demand;amovementalongafixedsupply/demandcurve=changeinthequantitysupplied/demanded 5. 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 1. Supplyanddemandtogetherdeterminethepricesofgoods,priceinturnguidetheallocationofresources 2. Pricesdeterminewhobuyseachgoodandhowmuchisproduced Chapter5: Elasticityanditsapplication Thepriceelasticityofdemand 1. Determinantofthepriceelasticityofdemand Moreelasticdemand Lesselasticdemand Goodswithclosesubstitutes e.g.butterandmargarine Without e.g.eggs Luxuries Necessities Narrowlydefinedmarket e.g.icecream Broadlydefinedmarket e.g.food Longertimehorizons Shortertimehorizons 2. Priceelasticityofdemand=%changeinquantitydemanded/%changeinprice 3. Alargerpriceelasticityàagreaterresponsivenessofquantitydemandedtoprice 4. Midpointmethod: abetterway Priceelasticityofdemand=[(Q2-Q1)/(Q2+Q1)]/[(P2-P1)/(P2+P1)] 5. Thevarietyofdemandcurves: theflatterthedemandcurvethatpassesthroughagivenpoint,thegreaterthepriceelasticityofdemand 1) Perfectlyinelastic: elasticity=0,demandcurveisvertical 2) Inelastic: elasticity<1,demandcurveseemssteep Priceandtotalrevenuemoveinthesamedirection 3) Unitelasticity: elasticity=1 Totalrevenueremainsconstantwhenthepricechange 4) Elastic: elasticity>1,demandcurveseemsflat Priceandtotalrevenuemoveinoppositedirections 5) Perfectlyelastic: elasticity=infinity,demandcurveishorizontal 6. Theslopeofalineardemandcurve=1whiletheelasticityisnotthesamealongtheentirecurve. 7. Otherdemandela
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