西方经济学--英文版

西方经济学ECONOMICSECONOMICS•参考书：–PaulA.Samuelson,WilliamD.Nordhaus•Economics,18Edition–TheMcGraw-HillCompanies,Inc.2005–中国人民邮电出版社ECONOMICS•Unit1:Natureandscopeofeconomics•Unit2:Theoryofdemand•Unit3:Theoryofsupply•Unit4:Pricedetermination•Unit5:Elasticityofdemand•Unit6:Priceelasticityofsupply•Unit7:Economiesoflargescaleproductionandexistenceofsmallfirms•Unit8:Productioncost•Unit9:PerfectCompetition•Unit10:Monopoly•Unit11:MonopolisticcompetitionECONOMICS•Unit12:Oligopoly•Unit13:Consumerpriceindex-CPI•Unit14:Centralbank-monetarypolicy•Unit15:Inflation•Unit16:Unemployment•Unit17:Roleofgovernment_fiscalpolicy•Unit18:Nationalincomeaccounting•Unit19:Nationalincomeapplication-standardofliving•Unit20:Keynestheoryofincomeandemployment•Unit21:Internationaltrade•Unit22:FreetradeandprotectionNatureandscopeofeconomics•1.1WhatisEconomics?•1.2VariousDefinitionsofEconomics•1.3BranchesofEconomics–Microeconomics–Macroeconomics•1.4TheBasicEconomicProblems•1.5ConceptofOpportunityCost•1.6ProductionPossibilityCurve(PPC)•1.7ReviewQuestions1.1WhatisEconomics?•Everywherehumanbeingsarefoundtomakeeffortsandearnmoneyandthenspendthismoneytosatisfytheirwants.Therefore,theactivitiesconcerningtheearningandspendingofwealtharestudiedunderEconomics.(Eco.)1.2VariousDefinitionsofEconomics•AdamSmith–Economicsisastudyofanenquiryintothenatureandcausesofwealthofnations.•J.S.Mills–Economicsisastudyofthepracticalscienceoftheproductionanddistributionofwealth.•L.Robbins–Economicsisasciencewhichstudieshumanbehaviourasarelationshipbetweenendandscarcemeanswhichhavealternativeuses.1.2VariousDefinitionsofEconomics•RichardLipsey:Moderneco.concerns:-–a)Theallocationofasociety'sresourcesamongalternativeusesandthedistributionofthesociety'soutputamongindividualsandgroup.–b)Thewaysinwhichproductionanddistributionchangesovertime.–c)Theefficientandinefficienciesofeconomicsystems.1.2VariousDefinitionsofEconomics•GeneralDefinition–Economicsisastudyofhowpeopleallocatetheirlimitedresourcessuchasland,labourandcapitaltoprovidefortheirunlimitedwants.Microeconomics•Microeconomicsstudiestheeconomicdecisionmakingoffirmsandindividualsinamarketsetting.Microeconomics•TheissuesthatarestudiedunderMicroeconomicanalysisare:–a)Howconsumersbehave.–b)Howbusinessfirmsmakechoices.–c)Howpricesaredeterminedinthemarkets.–d)Howtaxesandpricecontrolsaffectconsumersandproducers.–e)Howthestructureofmarketsaffecteconomicperformance.–f)Howwages,interestrates,rentandprofitsaredetermined.–g)Howincomeisdistributedamongfamilies.Macroeconomics•Macroeconomicsisastudyofeconomyasawholeanditconcernstherelationshipamongaggregate(total)measures.Macroeconomics•Theissuesthatarestudiedundermacroeconomicanalysisare:–a)NationalIncome.–b)Nation'smoneysupplyandmoneydemand.–c)Thevalueofmoney.–d)Inflationanditsdeterminants.–e)Macroeconomicobjectivessuchaspricestability,fullemployment,BalanceofPaymentsandEconomicgrowth.–f)Governmentpolicies(e.g.MonetaryandFiscalPolicies).–g)PublicFinance(e.g.Governmentrevenueandexpenditure).1.4TheBasicEconomicProblems•Inaneconomy,peoplehaveunlimiteddesireforgoodsandservices(g&s),i.e.unlimitedwants,buttheresourcesintheworldarelimitedandsowecannotsatisfyallourwantsandareforcedtochooseastowhichgoodstoproduce.•Therefore,scarcityandchoiceorlimitedresourcesandunlimitedwantssumupthebasiceconomicproblem.•Choiceisdeterminedby:–i.Scaleofpreference–ii.Opportunitycost1.4TheBasicEconomicProblems•Wecansummarisethisideaintothefollowingfigure:1.4TheBasicEconomicProblems•Aswearefacedwiththeproblemofscarcity,thereare3importanteconomicdecisionstobeconsidered.–i)Whatgoods&servicestobeproducedandinwhatquantityi.e.howmuchtobeproduced?•Thisconcernswiththeallocationofscarceresourcesamongalternativeuses.–ii)Howorbywhatmethodgoods&servicesshouldbeproduced?•Thisconcernswithchoosingthemostefficientmethodofproduction.–iii)Forwhomaregoods&servicestobeproduced,i.e.whoaretoenjoythegoods&servicesproduced?•Thisconcernswiththedistributionofsuchgoods&services.1.5ConceptofOpportunityCost•Opportunitycostofsatisfyingawantisthenextbestalternativethathastobeforgone,(i.e.thecostofgivingupsomethinginordertoobtainsomethingelse.)1.5ConceptofOpportunityCost1.5ConceptofOpportunityCost1.5ConceptofOpportunityCost•E.g.Apersonhas$5andhecanspendonchocolateorchewinggumoracombinationofboth.–Priceofabarofchocolate=$0.50–Priceofabarofchewinggum=$0.20•ChocolateChewinggum•100•85•610•415•220•0251.5ConceptofOpportunityCost•Thereare6attainablecombinationsavailabletohimusingallhismoney.•Assumingthatheisconsuming6barsofchocolateand10barsofchewinggum,theopportunitycostofthe8thbarofchocolateiswhathemustgiveupinordertogetthat8thbar,whichinthiscaseis5barsofchewinggum.(10-5)•Thelineontheabovediagramshowsaconstantopportunitycostofconsuming2additionalbarsofchocolateis5barsofchewinggum.•Opportunitycostisrepresentedbytheslopeofthatline.1.6ProductionPossibilityCurve(PPC)•ProductionPossibilitycurveisdefinedasthecurvethatshowsthegreatestpossiblequantitiesofgoodsthatcanbeproducedwiththeavailableresourcesatagivenleveloftechnology.–Example:•CombinationConsumptiong