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1、会计学1tenprinciples 曼昆曼昆 微观经济学微观经济学1 INTRODUCTION第1页/共30页1Ten Principles of Economics第2页/共30页Economy.The word economy comes from a Greek word for“one who manages a household.”第3页/共30页TEN PRINCIPLES OF ECONOMICSn nA household and an economy face many decisions:n nWho will work?Who will work?n nWhat goo
2、ds and how many of them should be What goods and how many of them should be produced?produced?n nWhat resources should be used in production?What resources should be used in production?n nAt what price should the goods be sold?At what price should the goods be sold?第4页/共30页TEN PRINCIPLES OF ECONOMIC
3、SSociety and Scarce Resources:n nThe management of societys The management of societys resources is important because resources is important because resources are scarce.resources are scarce.n nScarcityScarcity.means that society has.means that society has limited resources and therefore cannot limi
4、ted resources and therefore cannot produce all the goods and services produce all the goods and services people wish to have.people wish to have.第5页/共30页TEN PRINCIPLES OF ECONOMICSEconomics is the study of how society manages its scarce resources.第6页/共30页TEN PRINCIPLES OF ECONOMICS n nHow people mak
5、e decisions.n nPeople face tradeoffs.People face tradeoffs.n nThe cost of something is what you give up to get it.The cost of something is what you give up to get it.n nRational people think at the margin.Rational people think at the margin.n nPeople respond to incentives.People respond to incentive
6、s.第7页/共30页TEN PRINCIPLES OF ECONOMICS n nHow people interact with each other.n nTrade can make everyone better off.Trade can make everyone better off.n nMarkets are usually a good way to organize Markets are usually a good way to organize economic activity.economic activity.n nGovernments can someti
7、mes improve economic Governments can sometimes improve economic outcomes.outcomes.第8页/共30页TEN PRINCIPLES OF ECONOMICS n nThe forces and trends that affect how the economy as a whole works.n nThe standard of living depends on a countrys The standard of living depends on a countrys production.producti
8、on.n nPrices rise when the government prints too much Prices rise when the government prints too much money.money.n nSociety faces a short-run tradeoff between inflation Society faces a short-run tradeoff between inflation and unemployment.and unemployment.第9页/共30页Principle#1:People Face Tradeoffs.P
9、rinciple#1:People Face Tradeoffs.“There is no such thing as a free lunch!”第10页/共30页Making decisions requires trading off one goal against another.Principle#1:People Face Tradeoffs.Principle#1:People Face Tradeoffs.To get one thing,we usually have to give up another thing.n nGuns v.butterGuns v.butte
10、rn nFood v.clothingFood v.clothingn nLeisure time v.workLeisure time v.workn nEfficiency v.equityEfficiency v.equity第11页/共30页Principle#1:People Face TradeoffsPrinciple#1:People Face Tradeoffsn nEfficiency v.Equityn nEfficiencyEfficiency means society gets the most that it can means society gets the
11、most that it can from its scarce resources.from its scarce resources.n nEquityEquity means the benefits of those resources are means the benefits of those resources are distributed fairly among the members of society.distributed fairly among the members of society.第12页/共30页Principle#2:The Cost of So
12、mething Is What You Give Up to Principle#2:The Cost of Something Is What You Give Up to Get It.Get It.n nDecisions require comparing costs and benefits of alternatives.n nWhether to go to college or to work?Whether to go to college or to work?n nWhether to study or go out on a date?Whether to study
13、or go out on a date?n nWhether to go to class or sleep in?Whether to go to class or sleep in?n nThe opportunity cost of an item is what you give up to obtain that item.第13页/共30页Principle#2:The Cost of Something Is What You Give Up to Principle#2:The Cost of Something Is What You Give Up to Get It.Ge
14、t It.LA Laker basketball star Kobe Bryant chose to skip college and go straight from high school to the pros where he has earned millions of dollars.第14页/共30页People make decisions by comparing costs and benefits at the margin.Principle#3:Rational People Think at the Margin.Principle#3:Rational Peopl
15、e Think at the Margin.n nMarginal changes are small,incremental adjustments to an existing plan of action.第15页/共30页Principle#4:People Respond to Incentives.Principle#4:People Respond to Incentives.n nMarginal changes in costs or benefits motivate people to respond.n nThe decision to choose one alter
16、native over another occurs when that alternatives marginal benefits exceed its marginal costs!第16页/共30页Principle#5:Trade Can Make Everyone Better Off.Principle#5:Trade Can Make Everyone Better Off.n nPeople gain from their ability to trade with one another.n nCompetition results in gains from tradin
17、g.n nTrade allows people to specialize in what they do best.第17页/共30页Principle#6:Markets Are Usually a Good Way to Organize Principle#6:Markets Are Usually a Good Way to Organize Economic Activity.Economic Activity.n nA market economy is an economy that allocates resources through the decentralized
18、decisions of many firms and households as they interact in markets for goods and services.n nHouseholds decide what to buy and who to work Households decide what to buy and who to work for.for.n nFirms decide who to hire and what to produce.Firms decide who to hire and what to produce.第18页/共30页Princ
19、iple#6:Markets Are Usually a Good Way to Organize Principle#6:Markets Are Usually a Good Way to Organize Economic Activity.Economic Activity.n nAdam Smith made the observation that households and firms interacting in markets act as if guided by an“invisible hand.”n nBecause households and firms look
20、 at Because households and firms look at prices when deciding what to buy and prices when deciding what to buy and sell,they unknowingly take into sell,they unknowingly take into account the social costs of their account the social costs of their actions.actions.n nAs a result,prices guide decision
21、As a result,prices guide decision makers to reach outcomes that tend to makers to reach outcomes that tend to maximize the welfare of society as a maximize the welfare of society as a whole.whole.第19页/共30页Principle#7:Governments Can Sometimes Improve Market Principle#7:Governments Can Sometimes Impr
22、ove Market Outcomes.Outcomes.n nMarket failure occurs when the market fails to allocate resources efficiently.n nWhen the market fails(breaks down)government can intervene to promote efficiency and equity.第20页/共30页Principle#7:Governments Can Sometimes Improve Market Principle#7:Governments Can Somet
23、imes Improve Market Outcomes.Outcomes.n nMarket failure may be caused by n nan an externalityexternality,which is the impact of,which is the impact of one person or firms actions on the one person or firms actions on the well-being of a bystander.well-being of a bystander.n nmarket powermarket power
24、,which is the ability of a,which is the ability of a single person or firm to unduly single person or firm to unduly influence market prices.influence market prices.第21页/共30页Principle#8:The Standard of Living Depends on a Countrys Principle#8:The Standard of Living Depends on a Countrys Production.P
25、roduction.n nStandard of living may be measured in different ways:n nBy comparing personal incomes.By comparing personal incomes.n nBy comparing the total market value of a nations By comparing the total market value of a nations production.production.第22页/共30页Principle#8:The Standard of Living Depe
26、nds on a Countrys Principle#8:The Standard of Living Depends on a Countrys Production.Production.n nAlmost all variations in living standards are explained by differences in countries productivities.n nProductivity is the amount of goods and services produced from each hour of a workers time.第23页/共3
27、0页Principle#8:The Standard of Living Depends on a Countrys Principle#8:The Standard of Living Depends on a Countrys Production.Production.n nStandard of living may be measured in different ways:n nBy comparing personal incomes.By comparing personal incomes.n nBy comparing the total market value By c
28、omparing the total market value of a nations production.of a nations production.第24页/共30页Principle#9:Prices Rise When the Government Prints Too Principle#9:Prices Rise When the Government Prints Too Much Money.Much Money.n nInflation is an increase in the overall level of prices in the economy.n nOn
29、e cause of inflation is the growth in the quantity of money.n nWhen the government creates large quantities of money,the value of the money falls.第25页/共30页Principle#10:Society Faces a Short-run Tradeoff Between Principle#10:Society Faces a Short-run Tradeoff Between Inflation and Unemployment.Inflat
30、ion and Unemployment.n nThe Phillips Curve illustrates the tradeoff between inflation and unemployment:Inflation UnemploymentIts a short-run tradeoff!第26页/共30页Summaryn nWhen individuals make decisions,they face tradeoffs among alternative goals.n nThe cost of any action is measured in terms of foreg
31、one opportunities.n nRational people make decisions by comparing marginal costs and marginal benefits.n nPeople change their behavior in response to the incentives they face.第27页/共30页Summaryn nTrade can be mutually beneficial.n nMarkets are usually a good way of coordinating trade among people.n nGo
32、vernment can potentially improve market outcomes if there is some market failure or if the market outcome is inequitable.第28页/共30页Summaryn nProductivity is the ultimate source of living standards.n nMoney growth is the ultimate source of inflation.n nSociety faces a short-run tradeoff between inflation and unemployment.第29页/共30页