曼昆微观经济学 第二章

ThinkingLikeanEconomistChapter2Copyright©2001byHarcourt,Inc.Allrightsreserved.Requestsforpermissiontomakecopiesofanypartoftheworkshouldbemailedto:PermissionsDepartment,HarcourtCollegePublishers,6277SeaHarborDrive,Orlando,Florida32887-6777.Harcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.EveryfieldofstudyhasitsownterminologyMathematicsaxiomsintegralsvectorspacesPsychologyegoidcognitivedissonanceLawtortsvenuesPromissoryestoppelHarcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.EveryfieldofstudyhasitsownterminologyEconomicsSupplyDemandElasticityConsumerSurplusComparativeadvantageOpportunitycostDeadweightlossHarcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.TheEconomistasaScientistTheeconomicwayofthinking...Involvesthinkinganalyticallyandobjectively.Makesuseofthescientificmethod.Harcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.TheScientificMethodUsesabstractmodelstohelpexplainhowacomplex,realworldoperates.Developstheories,collects,andanalyzesdatatoprovethetheories.Observation,TheoryandMoreObservation!Harcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.TheRoleofAssumptionsEconomistsmakeassumptionsinordertomaketheworldeasiertounderstand.Theartinscientificthinkingisdecidingwhichassumptionstomake.Economistsusedifferentassumptionstoanswerdifferentquestions.Harcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.EconomicModelsEconomistsusemodelstosimplifyrealityinordertoimproveourunderstandingoftheworld.Twoofthemostbasiceconomicmodelsinclude:TheCircularFlowModelTheProductionPossibilitiesFrontierHarcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.TheCircular-FlowModelThecircular-flowmodelisasimplewaytovisuallyshowtheeconomictransactionsthatoccurbetweenhouseholdsandfirmsintheeconomy.Harcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.TheCircular-FlowDiagramFirmsHouseholdsMarketforFactorsofProductionMarketforGoodsandServicesSpendingRevenueWages,rent,andprofitIncomeGoods&ServicessoldGoods&ServicesboughtLabor,land,andcapitalInputsforproductionHarcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.TheCircular-FlowDiagramHouseholdsBuyandconsumegoodsandservicesOwnandsellfactorsofproductionFirmsProduceandsellgoodsandservicesHireandusefactorsofproductionHarcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.TheCircular-FlowDiagramMarketsforFactorsofProductionHouseholdssellFirmsbuyMarketsforGoods&ServicesFirmssellHouseholdsbuyHarcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.TheCircular-FlowDiagramFactorsofProductionInputsusedtoproducegoodsandservicesLand,labor,andcapitalHarcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.TheProductionPossibilitiesFrontierTheproductionpossibilitiesfrontierisagraphshowingthevariouscombinationsofoutputthattheeconomycanpossiblyproducegiventheavailablefactorsofproductionandtechnology.Harcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.TheProductionPossibilitiesFrontierQuantityofComputersProducedQuantityofCarsProduced3,00001,0002,0007001,000300AB2,200600CDHarcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.ConceptsIllustratedbytheProductionPossibilitiesFrontierEfficiencyTradeoffsOpportunityCostEconomicGrowthHarcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.4,000TheProductionPossibilitiesFrontierQuantityofComputersProducedQuantityofCarsProduced3,0002,000A70001,000E2,100750AnoutwardshiftintheproductionpossibilitiesfrontierHarcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.MicroeconomicsandMacroeconomicsMicroeconomicsfocusesontheindividualpartsoftheeconomy.HowhouseholdsandfirmsmakedecisionsandhowtheyinteractinspecificmarketsMacroeconomicslooksattheeconomyasawhole.Howthemarkets,asawhole,interactatthenationallevel.Harcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.TwoRolesofEconomistsWhentheyaretryingtoexplaintheworld,theyarescientists.Whentheyaretryingtochangetheworld,theyarepolicymakers.Harcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.PositiveversusNormativeAnalysisPositivestatementsarestatementsthatdescribetheworldasitis.CalleddescriptiveanalysisNormativestatementsarestatementsabouthowtheworldshouldbe.CalledprescriptiveanalysisHarcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.??PositiveorNormativeStatements?Anincreaseintheminimumwagewillcauseadecreaseinemploymentamongtheleast-skilled.Harcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.???PositiveorNormativeStatements?Higherfederalbudgetdeficitswillcauseinterestratestoincrease.Harcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.???PositiveorNormativeStatements?Stategovernmentsshouldbeallowedtocollectfromtobaccocompaniesthecostsoftreatingsmoking-relatedillnessesamongthepoor.Harcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.EconomistsinWashington......serveasadvisersinthepolicymakingprocessofthethreebranchesofgovernment:LegislativeExecutiveJudicialHarcourt,Inc.itemsandderiveditemscopyright