经济学原理讲义-英文
合集下载
曼昆《经济学原理》讲座讲义(英文)
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
4. People respond to incentives.
Marginal changes in costs or benefits motivate people to respond. The decision to choose one alternative over another occurs when that alternative’s marginal benefits exceed its marginal costs!
Ten Principles of Economics
How People Make Decisions
People face tradeoffs. The cost of something is what you give up to get it. Rational people think at the margin. People respond to incentives.
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
6. Markets are usually a good way to organize economic activity.
Because households and firms look at prices when deciding what to buy and sell, they unknowingly take into account the social costs of their actions. As a result, prices guide decision makers to reach outcomes that tend to maximize the welfare of society as a whole.
经济学原理英文课件 (1)
Equilibrium in Both the Goods and Money Markets: The IS-LM Model
Policy Effects in the Goods and Money Markets
Expansionary Policy Effects Contractionary Policy Effects The Macroeconomic Policy Mix
An increase in the interest rate from 3 percent to 6 percent lowers planned aggregate expenditure and thus reduces equilibrium income from Y0 to Y1.
7 of 39
Looking Ahead: Determining the Price Level
Appendix: The IS-LM Model
1 of 39
goods market The market in which goods and services are exchanged and in which the equilibrium level of aggregate output is determined.
Aggregate Markets
CHAPTER OUTLINE Planned Investment and the Interest Rate
Other Determinants of Planned Investment Planned Aggregate Expenditure and the Interest Rate
Planned Investment and the Interest Rate
Policy Effects in the Goods and Money Markets
Expansionary Policy Effects Contractionary Policy Effects The Macroeconomic Policy Mix
An increase in the interest rate from 3 percent to 6 percent lowers planned aggregate expenditure and thus reduces equilibrium income from Y0 to Y1.
7 of 39
Looking Ahead: Determining the Price Level
Appendix: The IS-LM Model
1 of 39
goods market The market in which goods and services are exchanged and in which the equilibrium level of aggregate output is determined.
Aggregate Markets
CHAPTER OUTLINE Planned Investment and the Interest Rate
Other Determinants of Planned Investment Planned Aggregate Expenditure and the Interest Rate
Planned Investment and the Interest Rate
经济学原理英文课件 (14)
4 of 34
TABLE 20.1 United States Balance of Payments, 2009
All transactions that bring foreign exchange into the United States are credited (+) to the current account; all transactions that cause the United States to lose foreign exchange are debited (−) to the current account Current Account Goods exports Goods imports (1) Net export of goods Exports of services Imports of services (2) Net export of services Income received on investments Income payments on investments (3) Net investment income (4) Net transfer payments (5) Balance on current account (1 + 2 + 3 + 4) Capital Account (6) Change in private U.S. assets abroad (increase is –) (7) Change in foreign private assets in the United States (8) Change in U.S. government assets abroad (increase is –) (9) Change in foreign government assets in the United States (10) Balance on capital account (6 + 7 + 8 + 9) (11) Net capital account transactions (12) Statistical discrepancy (13) Balance of payments (5 + 10 + 11 + 12) Billions of dollars 1,045.5 –1,562.6 –517.1 509.2 –370.8 138.4 561.2 –472.2 89.0 –130.2 –419.9 –727.0 –12.3 489.6 447.6 197.9 –2.9 224.9 0
TABLE 20.1 United States Balance of Payments, 2009
All transactions that bring foreign exchange into the United States are credited (+) to the current account; all transactions that cause the United States to lose foreign exchange are debited (−) to the current account Current Account Goods exports Goods imports (1) Net export of goods Exports of services Imports of services (2) Net export of services Income received on investments Income payments on investments (3) Net investment income (4) Net transfer payments (5) Balance on current account (1 + 2 + 3 + 4) Capital Account (6) Change in private U.S. assets abroad (increase is –) (7) Change in foreign private assets in the United States (8) Change in U.S. government assets abroad (increase is –) (9) Change in foreign government assets in the United States (10) Balance on capital account (6 + 7 + 8 + 9) (11) Net capital account transactions (12) Statistical discrepancy (13) Balance of payments (5 + 10 + 11 + 12) Billions of dollars 1,045.5 –1,562.6 –517.1 509.2 –370.8 138.4 561.2 –472.2 89.0 –130.2 –419.9 –727.0 –12.3 489.6 447.6 197.9 –2.9 224.9 0
经济学原理英文课件 (2)
FIGURE 13.2 Shifts of the Short-Run Aggregate Supply Curve
5 of 30
The Equilibrium Price Level
equilibrium price level The price level at which the aggregate demand and aggregate supply curves intersect.
Aggregate Supply and the Equilibrium Price Level
CHAPTER OUTLINE The Aggregate Supply Curve
The Aggregate Supply Curve: A Warning Aggregate Supply in the Short Run Shifts of the Short-Run Aggregate Supply Curve
The Behavior of the Fed
Targeting the Interest Rate The Fed’s Response to the State of the Economy Fed Behavior Since 1970 Interest Rates Near Zero Inflation Targeting
Looking Ahead
1 of 30
The Aggregate Supply Curve
aggregate supply The total supply of all goods and services in an economy.
The Aggregate Supply Curve: A Warning
曼昆《经济学原理》(宏观经济学分册)英文原版课件
How Productivity Is Determined
• Technological knowledge includes society’s understanding of the best ways to produce goods and services.
• Human capital includes the resources expended transmitting this understanding to the labor force.
• In the United States over the past century, average income as measured by real GDP per person has grown by about 2 percent per year.
Production and Growth
• Physical capital is a produced factor of production.
• It is an input into the production process that in the past was an output from the production process.
Table 1 The Variety of Growth Experiences
ECONOMIC GROWTH AROUND THE WORLD
• Living standards, as measured by real GDP per person, vary significantly among nations.
political stability. – Promote free trade. – Promote research and development.
2023-曼昆《经济学原理》英文版完整讲义丛externalities
EXTERNALITIES AND MARKET INEFFICIENCY
Negative ExternalitiesAutomobile exhaustCigarette smokingBarking dogs (loud pets)Loud stereos in an apartment building
Positive Externalities
A technology spillover is a type of positive externality that exists when a firm’s innovation or design not only benefits the firm, but enters society’s pool of technological knowledge and benefits society as a whole.
Welfare Economics: A Recap
The Market for Aluminum For each unit of aluminum produced, the social cost includes the private costs of the producers plus the cost to those bystanders adversely affected by the pollution.
The Coase Theorem
The Coase Theorem is a proposition that if private parties can bargain without cost over the allocation of resources, they can solve the problem of externalities on their own.Transactions CostsTransaction costs are the costs that parties incur in the process of agreeing to and following through on a bargain.
Negative ExternalitiesAutomobile exhaustCigarette smokingBarking dogs (loud pets)Loud stereos in an apartment building
Positive Externalities
A technology spillover is a type of positive externality that exists when a firm’s innovation or design not only benefits the firm, but enters society’s pool of technological knowledge and benefits society as a whole.
Welfare Economics: A Recap
The Market for Aluminum For each unit of aluminum produced, the social cost includes the private costs of the producers plus the cost to those bystanders adversely affected by the pollution.
The Coase Theorem
The Coase Theorem is a proposition that if private parties can bargain without cost over the allocation of resources, they can solve the problem of externalities on their own.Transactions CostsTransaction costs are the costs that parties incur in the process of agreeing to and following through on a bargain.
2023-曼昆《经济学原理》英文版完整讲义丛elasticity
Figure 1 The Price Elasticity of Demand
(a) Perfectly Inelastic Demand: Elasticity Equals 0
Quantity
0
Price
Figure 1 The Price Elasticity of Demand
(b) Inelastic Demand: Elasticity Is Less Than 1
TR = P x Q
Figure 2 Total Revenue
Quantity
0
Price
Elasticity and Total Revenue along a Linear Demand Curve
With an inelastic demand curve, an increase in price leads to a decrease in quantity that is proportionately smaller. Thus, total revenue increases.
Figure 3 How Total Revenue Changes When Price Changes: Inelastic Demand
Quantity
0
Price
Quantity
0
Price
An Increase in price from $1 to $3 …
… leads to an Increase in total revenue from $100 to $240
Example: If the price of an ice cream cone increases from $2.00 to $2.20 and the amount you buy falls from 10 to 8 cones, then your elasticity of demand would be calculated as:
(a) Perfectly Inelastic Demand: Elasticity Equals 0
Quantity
0
Price
Figure 1 The Price Elasticity of Demand
(b) Inelastic Demand: Elasticity Is Less Than 1
TR = P x Q
Figure 2 Total Revenue
Quantity
0
Price
Elasticity and Total Revenue along a Linear Demand Curve
With an inelastic demand curve, an increase in price leads to a decrease in quantity that is proportionately smaller. Thus, total revenue increases.
Figure 3 How Total Revenue Changes When Price Changes: Inelastic Demand
Quantity
0
Price
Quantity
0
Price
An Increase in price from $1 to $3 …
… leads to an Increase in total revenue from $100 to $240
Example: If the price of an ice cream cone increases from $2.00 to $2.20 and the amount you buy falls from 10 to 8 cones, then your elasticity of demand would be calculated as:
曼昆《经济学原理》英文版完整讲义丛elasticity精品文档45页
• Price elasticity of demand is the percentage change in quantity demanded given a percent change in the price.
Copyright © 2004 South-Western/Thomson Learning
(2.(21001028.)00)1010001200% %2 2.00
Copyright © 2004 South-Western/Thomson Learning
The Midpoint Method: A Better Way to Calculate Percentage Changes and Elasticities • The midpoint formula is preferable when
increases from $2.00 to $2.20 and the amount
you buy falls from 10 to 8 cones, then your
elasticity of demand, using the midpoint
Elasticity . . .
• … allows us to analyze supply and demand with greater precision.
• … is a measure of how much buyers and sellers respond to changes in market conditions
Copyright © 2004 South-Western/Thomson Learning
The Price Elasticity of Demand and Its Determinants • Demand tends to be more elastic :
Copyright © 2004 South-Western/Thomson Learning
(2.(21001028.)00)1010001200% %2 2.00
Copyright © 2004 South-Western/Thomson Learning
The Midpoint Method: A Better Way to Calculate Percentage Changes and Elasticities • The midpoint formula is preferable when
increases from $2.00 to $2.20 and the amount
you buy falls from 10 to 8 cones, then your
elasticity of demand, using the midpoint
Elasticity . . .
• … allows us to analyze supply and demand with greater precision.
• … is a measure of how much buyers and sellers respond to changes in market conditions
Copyright © 2004 South-Western/Thomson Learning
The Price Elasticity of Demand and Its Determinants • Demand tends to be more elastic :
- 1、下载文档前请自行甄别文档内容的完整性，平台不提供额外的编辑、内容补充、找答案等附加服务。
- 2、"仅部分预览"的文档,不可在线预览部分如存在完整性等问题,可反馈申请退款(可完整预览的文档不适用该条件!)。
- 3、如文档侵犯您的权益，请联系客服反馈,我们会尽快为您处理(人工客服工作时间：9:00-18:30)。
– Impact of one person’s actions on the well-being of a bystander
• Market power
– Ability of a single economic actor (or small group of actors) to have a substantial influence on market prices
– Size of the economic pie
• Equality
– Distributing economic prosperity uniformly among the members of society
– How the pie is divided into individual slices
15
How People Interact
Principle 7: Governments can sometimes improve market outcomes
• We need government
– Enforce rules and maintain institutions
• Enforce property rights
– Limited supplies – Surging demand from robust world
growth – Price of gasoline in the United States
rose from about $2 to about $4 a gallon
10
The Incentive Effects of Gasoline Prices
– Government intervention: Public policies
• May diminish inequality • Process far from perfect
19
How the Economy as a Whole Works
Principle 8: A country’s standard of living depends on its ability to produce goods and services
How People Make Decisions
• Marginal benefits
– Additional benefits
• Marginal costs
– Additional costs
• Rational decision maker
– Take action only if: – Marginal benefits > Marginal costs
Principle 6: Markets are usually a good way to organize economic activity
• Communist countries – central planning
– Government officials (central planners)
– Systematically & purposefully do the best they can to achieve their objectives
• Marginal changes
– Small incremental adjustments to a plan of action
7
8
How People Make Decisions
Principle 4: People respond to incentives • Incentive
– Something that induces a person to act – Higher price
• Buyers - consume less • Sellers - produce more
• Allocate economy’s scarce resources
– What goods & services were produced – How much was produced – Who produced & consumed these goods &
services
13
How People Interact
– Moving near an Amtrak station – Online courses – Sean “Diddy” Combs - flying on
commercial airlines
11
How People Interact
Principle 5: Trade can make everyone better off
5
How People Make Decisions
Principle 2: The cost of something is what you give up to get it
• People face trade-offs
– Make decisions
• Compare cost with benefits of alternatives
• Large differences in living standards
– Among countries – Over time
• Explanation: differences in productivity
20
How the Economy as a Whole Works
• Productivity
• Leads them to desirable market outcomes
– Corollary: Government intervention
• Prevents the invisible hand’s ability to coordinate the decisions of the households and firms that make up the economy
– Promote efficiency
• Avoid market failure
– Promote equality
• Avoid disparities in economic wellbeing
16
How People Interact
• Property rights
– Ability of an individual to own and exercise control over scarce resources
• Trade
– Allows each person to specialize in the activities he or she does best
– Enjoy a greater variety of goods and services at lower cost
12
How People Interact
• Market economy - allocates resources
– Through decentralized decisions of many firms and households
– As they interact in markets for goods and services
• Opportunity cost
– Whatever must be given up to obtain one item
6
How People Make Decisions
Principle 3: Rational people think at the margin
• Rational people
18
How People Interact
• Disparities in economic wellbeing
– Market economy rewards people
• According to their ability to produce things that other people are willing to pay for
– Quantity of goods and services produced from each unit of labor input
• Market failure
– Situation in which the market on its own fails to produce an efficient allocation of resources
17
How People Interact
• Causes for market failure • Externality
• Society - many decisions
– Allocate resources – Allocate output
1
Ten Principles of Economics
• Resources are scarce • Scarcity
– The limited nature of society’s resources
– Guided by prices and self interest
14
How People Interact
• Adam Smith’s “invisible hand”
– Households and firms interacting in markets
• Act as if they are guided by an “invisible hand”
• Market power
– Ability of a single economic actor (or small group of actors) to have a substantial influence on market prices
– Size of the economic pie
• Equality
– Distributing economic prosperity uniformly among the members of society
– How the pie is divided into individual slices
15
How People Interact
Principle 7: Governments can sometimes improve market outcomes
• We need government
– Enforce rules and maintain institutions
• Enforce property rights
– Limited supplies – Surging demand from robust world
growth – Price of gasoline in the United States
rose from about $2 to about $4 a gallon
10
The Incentive Effects of Gasoline Prices
– Government intervention: Public policies
• May diminish inequality • Process far from perfect
19
How the Economy as a Whole Works
Principle 8: A country’s standard of living depends on its ability to produce goods and services
How People Make Decisions
• Marginal benefits
– Additional benefits
• Marginal costs
– Additional costs
• Rational decision maker
– Take action only if: – Marginal benefits > Marginal costs
Principle 6: Markets are usually a good way to organize economic activity
• Communist countries – central planning
– Government officials (central planners)
– Systematically & purposefully do the best they can to achieve their objectives
• Marginal changes
– Small incremental adjustments to a plan of action
7
8
How People Make Decisions
Principle 4: People respond to incentives • Incentive
– Something that induces a person to act – Higher price
• Buyers - consume less • Sellers - produce more
• Allocate economy’s scarce resources
– What goods & services were produced – How much was produced – Who produced & consumed these goods &
services
13
How People Interact
– Moving near an Amtrak station – Online courses – Sean “Diddy” Combs - flying on
commercial airlines
11
How People Interact
Principle 5: Trade can make everyone better off
5
How People Make Decisions
Principle 2: The cost of something is what you give up to get it
• People face trade-offs
– Make decisions
• Compare cost with benefits of alternatives
• Large differences in living standards
– Among countries – Over time
• Explanation: differences in productivity
20
How the Economy as a Whole Works
• Productivity
• Leads them to desirable market outcomes
– Corollary: Government intervention
• Prevents the invisible hand’s ability to coordinate the decisions of the households and firms that make up the economy
– Promote efficiency
• Avoid market failure
– Promote equality
• Avoid disparities in economic wellbeing
16
How People Interact
• Property rights
– Ability of an individual to own and exercise control over scarce resources
• Trade
– Allows each person to specialize in the activities he or she does best
– Enjoy a greater variety of goods and services at lower cost
12
How People Interact
• Market economy - allocates resources
– Through decentralized decisions of many firms and households
– As they interact in markets for goods and services
• Opportunity cost
– Whatever must be given up to obtain one item
6
How People Make Decisions
Principle 3: Rational people think at the margin
• Rational people
18
How People Interact
• Disparities in economic wellbeing
– Market economy rewards people
• According to their ability to produce things that other people are willing to pay for
– Quantity of goods and services produced from each unit of labor input
• Market failure
– Situation in which the market on its own fails to produce an efficient allocation of resources
17
How People Interact
• Causes for market failure • Externality
• Society - many decisions
– Allocate resources – Allocate output
1
Ten Principles of Economics
• Resources are scarce • Scarcity
– The limited nature of society’s resources
– Guided by prices and self interest
14
How People Interact
• Adam Smith’s “invisible hand”
– Households and firms interacting in markets
• Act as if they are guided by an “invisible hand”