曼昆微观经济学英文版tenprinciplesPPT课件

PowerPoint LecturePresentationtoaccompanyPrinciplesofEconomics ThirdEditionN GregoryMankiwPreparedbyMarkP Karscig CentralMissouriStateUniversity 1INTRODUCTION 1 TenPrinciplesofEconomics Economy ThewordeconomycomesfromaGreekwordfor onewhomanagesahousehold TENPRINCIPLESOFECONOMICS Ahouseholdandaneconomyfacemanydecisions Whowillwork Whatgoodsandhowmanyofthemshouldbeproduced Whatresourcesshouldbeusedinproduction Atwhatpriceshouldthegoodsbesold TENPRINCIPLESOFECONOMICS SocietyandScarceResources Themanagementofsociety sresourcesisimportantbecauseresourcesarescarce Scarcity meansthatsocietyhaslimitedresourcesandthereforecannotproduceallthegoodsandservicespeoplewishtohave TENPRINCIPLESOFECONOMICS Economicsisthestudyofhowsocietymanagesitsscarceresources TENPRINCIPLESOFECONOMICS Howpeoplemakedecisions Peoplefacetradeoffs Thecostofsomethingiswhatyougiveuptogetit Rationalpeoplethinkatthemargin Peoplerespondtoincentives TENPRINCIPLESOFECONOMICS Howpeopleinteractwitheachother Tradecanmakeeveryonebetteroff Marketsareusuallyagoodwaytoorganizeeconomicactivity Governmentscansometimesimproveeconomicoutcomes TENPRINCIPLESOFECONOMICS Theforcesandtrendsthataffecthowtheeconomyasawholeworks Thestandardoflivingdependsonacountry sproduction Pricesrisewhenthegovernmentprintstoomuchmoney Societyfacesashort runtradeoffbetweeninflationandunemployment Principle 1 PeopleFaceTradeoffs Thereisnosuchthingasafreelunch Makingdecisionsrequirestradingoffonegoalagainstanother Principle 1 PeopleFaceTradeoffs Togetonething weusuallyhavetogiveupanotherthing Gunsv butterFoodv clothingLeisuretimev workEfficiencyv equity Principle 1 PeopleFaceTradeoffs Efficiencyv EquityEfficiencymeanssocietygetsthemostthatitcanfromitsscarceresources Equitymeansthebenefitsofthoseresourcesaredistributedfairlyamongthemembersofsociety Principle 2 TheCostofSomethingIsWhatYouGiveUptoGetIt Decisionsrequirecomparingcostsandbenefitsofalternatives Whethertogotocollegeortowork Whethertostudyorgooutonadate Whethertogotoclassorsleepin Theopportunitycostofanitemiswhatyougiveuptoobtainthatitem Principle 2 TheCostofSomethingIsWhatYouGiveUptoGetIt LALakerbasketballstarKobeBryantchosetoskipcollegeandgostraightfromhighschooltotheproswherehehasearnedmillionsofdollars Peoplemakedecisionsbycomparingcostsandbenefitsatthemargin Principle 3 RationalPeopleThinkattheMargin Marginalchangesaresmall incrementaladjustmentstoanexistingplanofaction Principle 4 PeopleRespondtoIncentives Marginalchangesincostsorbenefitsmotivatepeopletorespond Thedecisiontochooseonealternativeoveranotheroccurswhenthatalternative smarginalbenefitsexceeditsmarginalcosts Principle 5 TradeCanMakeEveryoneBetterOff Peoplegainfromtheirabilitytotradewithoneanother Competitionresultsingainsfromtrading Tradeallowspeopletospecializeinwhattheydobest Principle 6 MarketsAreUsuallyaGoodWaytoOrganizeEconomicActivity Amarketeconomyisaneconomythatallocatesresourcesthroughthedecentralizeddecisionsofmanyfirmsandhouseholdsastheyinteractinmarketsforgoodsandservices Householdsdecidewhattobuyandwhotoworkfor Firmsdecidewhotohireandwhattoproduce Principle 6 MarketsAreUsuallyaGoodWaytoOrganizeEconomicActivity AdamSmithmadetheobservationthathouseholdsandfirmsinteractinginmarketsactasifguidedbyan invisiblehand Becausehouseholdsandfirmslookatpriceswhendecidingwhattobuyandsell theyunknowinglytakeintoaccountthesocialcostsoftheiractions Asaresult pricesguidedecisionmakerstoreachoutcomesthattendtomaximizethewelfareofsocietyasawhole Principle 7 GovernmentsCanSometimesImproveMarketOutcomes Marketfailureoccurswhenthemarketfailstoallocateresourcesefficiently Whenthemarketfails breaksdown governmentcanintervenetopromoteefficiencyandequity Principle 7 GovernmentsCanSometimesImproveMarketOutcomes Marketfailuremaybecausedbyanexternality whichistheimpactofonepersonorfirm sactionsonthewell beingofabystander marketpower whichistheabilityofasinglepersonorfirmtoundulyinfluencemarketprices Principle 8 TheStandardofLivingDependsonaCountry sProduction Standardoflivingmaybemeasuredindifferentways Bycomparingpersonalincomes Bycomparingthetotalmarketvalueofanation sproduction Principle 8 TheStandardofLivingDependsonaCountry sProduction Almostallvariationsinlivingstandardsareexplainedbydifferencesincountries productivities Productivityistheamountofgoodsandservicesproducedfromeachhourofaworker stime Principle 8 TheStandardofLivingDependsonaCountry sProduction Standardoflivingmaybemeasuredindifferentways Bycomparingpersonalincomes Bycomparingthetotalmarketvalueofanation sproduction Principle 9 PricesRiseWhentheGovernmentPrintsTooMuchMoney Inflationisanincreaseintheoveralllevelofpricesintheeconomy Onecauseofinflationisthegrowthinthequantityofmoney Whenthegovernmentcreateslargequantitiesofmoney thevalueofthemoneyfalls Principle 10 SocietyFacesaShort runTradeoffBetweenInflationandUnemployment ThePhillipsCurveillustratesthetradeoffbetweeninflationandunemployment Inflation UnemploymentIt sashort runtradeoff Summary Whenindividualsmakedecisions theyfacetradeoffsamongalternativegoals Thecostofanyactionismeasuredintermsofforegoneopportunities Rationalpeoplemakedecisionsbycomparingmarginalcostsandmarginalbenefits Peoplechangetheirbehaviorinresponsetotheincentivestheyface Summary Tradecanbemutuallybeneficial Marketsareusuallyagoodwayofcoordinatingtradeamong