经济学原理定义.docx
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经济学原理定义
Chapter1TenPrincipalsofEconomics
Howpeoplemakedecisions
Principle1:
peoplefacetradeoffs
Principle2:
thecostofsomethingiswhatyougiveuptogetit
Principle3:
rationalpeoplethinkatthemargin
Principle4:
peoplerespondtoincentives
Howpeopleinteract
Principle5:
tradecanmakeeveryonebetteroff
Principle6:
marketsareusuallyagoodwaytoorganizeeconomicactivity
Principle7:
governmentscansometimeimprovemarketoutcomes
Howtheeconomyasawholeworks
Principle8:
acountry’sstandardoflivingdependsonitsabilitytoproducegoodsandservices
Principle9:
pricesrisewhenthegovernmentprintstoomuchmoney
Principle10:
societyfacesashort-termtradeoffbetweeninflationandunemployment
1.Scarcity:
societyhaslimitedresourcesandthereforecannotproduceallthegoodsandservicespeoplewishtohave
2.Economics:
thestudyofhowsocietymanagesitsscarceresources
3.Classictradeoffs:
gunsandbutter,efficiencyandequity
4.Efficiency:
thepropertyofthesocietygettingthemostitcanfromitsscarceresources
5.Equity:
thepropertyofdistributingeconomicprosperityfairlyamongthemembersofsociety
6.Opportunitycost:
whatevermustbegiventoobtainsomeitem
7.Marginalchanges:
smallincrementaladjustmentstoanexistingplanofaction
8.Whenanalyzinganypolicy,wemustconsidernotonlythedirecteffectsbutalsotheindirecteffectsthatworkthroughincentives
9.Centralplanning:
thecentralplannersinthegovernmentwereinthebestpositiontoguideeconomicactivity
10.Marketeconomy:
aneconomythatallocatesresourcesthroughthedecentralizeddecisionsofmanyfirmsandhouseholdsastheinteractinmarketsforgoodsandservices
11.Whenthegovernmentpreventspricesfromadjustingnormallytosupplyanddemand,itimpedestheinvisiblehand’sabilitytocoordinatethemillionsoffirmsandhouseholdsthatmakeuptheeconomy;buttheinvisiblehandneedsgovernmenttoprotectit.Thegovernmentcanalsopromoteefficiencyandequity.
12.Marketfailure:
asituationinwhichthemarketonitsownfailstoproduceanefficientallocationofresources
13.Externality:
theimpactofoneperson’sactionsonthewell-beingofabystander,whichmaycausemarketfailure
14.Marketpower:
theabilityofasingleeconomicactororsmallgroupofactorstohaveasubstantialinfluenceonmarketprices
15.Productivity:
thequantityofgoodsandservicesproducedfromeachhourofaworker’stime
16.Similarly,thegrowthrateofanation’sproductivitydeterminesthegrowthrateofitsaverageincome
17.Inflation:
anincreaseintheoveralllevelofpricesintheeconomy
18.Philipscurve:
acurvethatshowstheshort-runtradeoffbetweeninflationandunemployment
19.Businesscycle:
fluctuationineconomicactivity,suchasemploymentandproduction
Summary:
1.Thefundamentallessonsaboutindividualdecisionmakingarethatpeoplefacetradeoffsamongalternativegoals,thatthecostofanyactionismeasuredintermsofforgoneopportunities,thatrationalpeoplemakedecisionsbycomparingmarginalcostandmarginalbenefits,andthatpeoplechangetheirbehaviorinresponsetotheincentivestheyface.
2.Thefundamentallessonsaboutinteractionsamongpeoplearethattradecanbemutuallybeneficial,thatmarketsareusuallyagoodwayofcoordinatingtradeamongpeople,andthatthegovernmentcanpotentiallyimproveoutcomesifthereissomemarketfailureorifthemarketoutcomeisinequitable.
3.Thefundamentallessonsabouttheeconomyasawholearethatproductivityistheultimatesourceoflivingstandards,thatthemoneygrowthistheultimatesourceofinflation,andthesocietyfacesashort-runtradeoffbetweeninflationandunemployment.
Chapter2ThinkingLikeanEconomist
1.Circular-flowdiagram:
avisualmodeloftheeconomythatshowshowdollarsflowthroughmarketsamonghouseholdsandfirms
2.Theproductionpossibilitiesfrontier:
agraphthatshowsthecombinationofoutputthattheeconomycanpossiblyproducegiventheavailablefactorsofproductionandtheavailableproductiontechnology.Itshowstheopportunitycostofonegoodasmeasuredintermsoftheothergood.Itshowsthetradeoffbetweentheproductionofdifferentgoodsatagiventime,butthetradeoffcanchangeovertime
3.Microeconomics:
thestudyofhowhouseholdsandfirmsmakedecisionandhowtheinteractinmarkets
4.Macroeconomics:
thestudyofeconomy-widephenomena,includinginflation,unemployment,andeconomicgrowth
5.Positivestatements:
claimsthatattempttodescribetheworldasitis
6.Normativestatements:
claimsthatattempttoprescribehowtheworldshouldbe
7.Normativestatementscannotcomefrompositiveanalysisalone,theyinvolvevaluejudgmentsaswell
Summary:
1.Economiststrytoaddresstheirsubjectwithascientificobjectivity.Likeallscientists,theymakeappropriateassumptionsandbuildsimplifiedmodelsinordertounderstandtheworldaroundthem.Twosimpleeconomicmodelsarethecircular-flowdiagramandtheproductionpossibilitiesfrontier
2.Thefieldofeconomicsisdividedintotwosubfields:
microeconomicsandmacroeconomics.Macroeconomistsstudydecision-makingbyhouseholdsandfirmsandtheinteractionamonghouseholdsandfirmsinthemarketplace.Macroeconomistsstudytheforcesandtrendsthataffecttheeconomyasawhole.
3.Apositivestatementisanassertionabouthowtheworldis.Anormativestatementisanassertionabouthowtheworldoughttobe.Wheneconomistsmakenormativestatements,theyareactingmoreaspolicyadvisersthanscientists.
4.Economistswhoadvisepolicymakersofferconflictingadviceeitherbecauseofdifferencesinscientificjudgmentsorbecauseofdifferencesinvalues.Atothertimes,economistsareunitedintheadvicetheoffer,butpolicymakersmaychoosetoignoreit.
Chapter3InterdependenceandtheGainsfromTrade
1.Absoluteadvantage:
thecomparisonamongproducersofagoodaccordingtotheirproductivity
2.Comparativeadvantage:
thecomparisonamongproducersofagoodaccordingtotheiropportunitycost
3.Imports:
goodsproducedabroadandsolddomestically
4.Exports:
goodsproduceddomesticallyandsoldabroad
Summary
1.Eachpersonconsumesgoodsandservicesproducedbymanyotherpeoplebothinourcountryandaroundtheworld.Interdependenceandtradearedesirablebecausetheyalloweveryonetoenjoyagreaterquantityandvarietyofgoodsandservices.
2.Therearetwowaystocomparetheabilitiesoftwopeopleinproducingagood.Thepersonwhocanproducethegoodwiththesmallerquantityofinputsissaidtohaveanabsoluteadvantageinproducingthegood.Thepersonwhohasthesmalleropportunitycostofproducingthegoodissaidtohaveacomparativeadvantage,thegainsfromtradearebasedoncomparativeadvantage,notabsoluteadvantage.
3.Trademakeseveryonebetteroffbecauseitallowspeopletospecializeinthoseactivitiesinwhichtheyhaveacomparativeadvantage.
4.Theprincipleofcomparativeadvantageappliestocountriesaswellastopeople.Economistsusetheprincipleofcomparativeadvantagetoadvocatefreetradeamongcountries.
Chapter4TheMarketForcesofSupplyandDemand
1.Competitivemarket:
amarketinwhichtherearemanybuyersansellerssothateachhasanegligibleimpactonthemarketprice
2.Perfectcompetitivemarketsaredefinedbytwoprimarycharacteristics:
1thegoodsofferedforsaleareallthesameand2thebuyersandsellersaresonumerousthatnosinglebuyerorsellercaninfluencethemarketprice.Themarketdeterminestheprice;buyersandsellersarepricetakers.
3.Monopolisticallycompetitivemarket:
itcontainsmanysellersbuteachoffersaslightlydifferentproduct
4.Oligopoly:
ithasafewsellersthatdonotalwayscompeteaggressively
5.Monopoly:
themarkethasonlyonesellerandthesellersetstheprice
6.Quantitydemanded:
theamountofagoodthatbuyersarewillingandabletopurchase
7.Lawofdemand:
theclaimthat,otherthingsequal,thequantitydemandedofagoodfallswhenthepriceofthegoodrises
8.Lawofsupply:
theclaimthat,otherthingsequal,thequantitysuppliedofagoodriseswhenthepriceofthegoodrises
9.Lawofsupplyanddemand:
theclaimthatthepriceofanygoodadjuststobringthequantitysuppliedandthequantitydemandedofthegoodintobalance
10.Demandschedule:
atablethatshowstherelationshipbetweenthepriceofagoodandthequantitydemanded
11.Supplyschedule:
atablethatshowstherelationshipbetweenthepriceofagoodandthequantitysupplied
12.Demandcurve:
agraphoftherelationshipbetweenthepriceofagoodandthequantitydemanded
13.Supplycurve:
agraphoftherelationshipbetweenthepriceofagoodandthequantitysupplied
14.Marketdemand:
thesumofalltheindividualdemandsforaparticulargoodorservice
15.Variablesthatinfluencedemand:
income,priceofrelatedgoods,tastes,expectations,numberofbuyers
16.Variablesthatinfluencesupply:
inputprices,technology,expectation,numberofsellers
Expectation:
ifthesellerexpectsthepriceofagoodtoriseinthefuture,hewillputsomeofhiscurrentproductionintostorageandsupplylesstothemarkettoday
17.Normalgood:
agoodforwhich,otherthingsequal,anincreaseinincomeleadstoanincreaseindemand
18.Inferiorgood:
agoodforwhich,otherthingsequal,anincreaseinincomeleadstoandecreaseindemand
19.Substitutes:
twogoodsforwhichanincreaseinthepriceofoneleadstoanincreaseinthedemandfortheother
20.Complements:
twogoodsforwhichanincreaseinthepriceofoneleadstoadecreaseinthedemandfortheother
21.Quantitysupplied:
theamountof