Review Outline for Microeconomics
《商务英语阅读I》-课程教学大纲
《商务英语阅读I》课程教学大纲一、课程基本信息课程代码：16133102课程名称：商务英语阅读I英文名称：Reading of Business English Literature I课程类别：专业方向课学时：32学分：2适用对象: 商务英语专业、英语专业（国际商务管理）、非英语专业考核方式：分散考试（笔试）先修课程：综合英语/大学英语二、课程简介本课程是外国语学院商务英语以及英语（国际商务与管理方向）本科学生的专业方向必修课，同时也作为向全校非英语专业学生开设的选修课。
本课程旨在帮助学生了解管理、财务、国际商务、营销等基本理论和常用术语，并同时提高学生的英语综合水平，特别是阅读商务材料的能力。
由于教学对象大多为今后的涉外人才，在本课程中融入社会主义思想政治教育尤其重要。
思政内容将特别体现在中外经济制度和商务实践的比较研读部分，教学过程中将着重介绍中国特色社会主义的经济制度和商务实践与西方完全市场经济和自由竞争条件下商务实践的重大区别。
通过案例探讨来说明共同富裕、协调发展优先于个别企业的利益导向原则，以彰显在党中央宏观调控下的社会主义特色市场经济对中国特殊国情的专适性和优越性。
This course is offered to Business English majors (with an International Business and Management orientation) as a compulsory course. It is also designed as an elective course for all students from specializations other than English. The course is intended to introduce the fundamental knowledge and nomenclature in management, finance, international business, marketing, etc.三、课程性质与教学目的通过对指定教材和教师所选材料的阅读、分析、探讨和讲介，在课程结束时，学生应熟练掌握常用的商务英语词汇和表达法，具备较强的商务英语阅读理解能力。
芝加哥学派vs奥地利学派汇总
加哥学派对奥地利学派4fun 2011-07-01ν 3126简介芝加哥学派和奥地利学派都是自由主义的信奉者，但两者在方法论、关于繁荣和萧条的解释以及法律都存在差别。
People often ask me, "How are the Austrians different from the Chicago School economists? Aren't you all free-market guys who oppose big-government Keynesians?"人们经常问我，为什么奥地利学派和芝加哥学派的经济学者差别这么大呢？你们不都是反对大政府凯恩斯主义的自由市场派吗？In the present article I'll outline some of the main differences. Although it's true that Austrians agree with Chicago economists on many policy issues, nevertheless their approach to economic science can be quite different. It's important to occasionally explain these differences, if only to rebut the common complaint that Austrian economics is simply a religion serving to justify libertarian policy conclusions.在本文中，我将列举出一些两者的不同之处，虽然事实上奥地利学派也同意芝加哥学派学者提出的许多政治主张，但是两者的经济学分析方法是很不一样的。
我们有必要常常去澄清这种区别，否则就难以还击那些认为“奥地利经济学派只是为了证明自由主义政策主张正确的教条主义”的观点。
经济学学习计划英语
经济学学习计划英语IntroductionEconomics is the study of how individuals, businesses, and governments make decisions about allocating resources to achieve their goals. It helps us understand the mechanisms of production, consumption, and distribution of goods and services. A deeper understanding of economics can help us make better decisions, whether we are an individual making choices about how to spend money, a business making decisions about how to produce and price goods, or a government making policies that affect the economy.As an aspiring economist, I am dedicated to developing a strong foundation in economic theory and its real-world applications. In this study plan, I will outline my goals, resources, and timeline for achieving my learning objectives.GoalsMy primary goal in studying economics is to develop a comprehensive understanding of economic theory and its application in the real world. I aim to master the various concepts and principles in microeconomics and macroeconomics, and develop an ability to critically analyze economic policies and their implications. I also intend to improve my quantitative skills, particularly in using economic models to analyze and interpret data. Furthermore, I aim to gain a solid understanding of the history of economic thought, including the contributions of key economists and their impact on economic theory. This will enable me to appreciate the evolution of economic thinking and its relevance to contemporary economic issues.Finally, I hope to develop strong writing and communication skills in economics, as well as the ability to apply economic principles in solving real-world problems.ResourcesTo achieve my goals, I plan to utilize a variety of resources, including textbooks, academic journals, online courses, and educational videos. I will also seek out opportunities for hands-on learning, such as internships or research projects, to apply economic concepts in real-world settings.Textbooks: I will begin with introductory textbooks on microeconomics and macroeconomics, such as "Principles of Microeconomics" by N. Gregory Mankiw and "Macroeconomics" by Paul Krugman and Robin Wells. As I progress, I will explore more advanced texts on specific areas of economics, such as international trade, public finance, and development economics.Academic Journals: I will regularly read articles published in reputable economic journals, such as the American Economic Review, the Journal of Economic Perspectives, and theQuarterly Journal of Economics. This will help me stay updated on the latest research and advancements in the field of economics.Online Courses: I will enroll in online courses offered by prestigious institutions, such as Coursera, edX, and Khan Academy. These courses will provide me with in-depth lectures, quizzes, and assignments, allowing me to learn at my own pace and test my understanding of the material.Educational Videos: I will supplement my reading with educational videos on economics, available on platforms such as YouTube and TED Talks. These videos will provide visual explanations of economic concepts and real-world examples, making the material more engaging and relatable.Hands-On Learning: I will seek opportunities to apply economic principles in practical settings, such as internships at economic research institutions, government agencies, or private businesses. I will also consider conducting independent research projects or participating in economic competitions to further deepen my understanding of economics.TimelineTo ensure a structured and sustainable approach to my learning, I have outlined a timeline with specific milestones to be achieved.Year 1: Foundations of Economics- Read introductory textbooks on microeconomics and macroeconomics- Enroll in online courses on economic principles- Familiarize myself with key economic concepts, such as supply and demand, elasticity, GDP, inflation, and unemployment- Develop basic quantitative skills in economics, such as graphing and interpreting economic data- Begin reading academic journal articles to understand real-world applications of economic theoryYear 2: Advanced Topics in Economics- Dive deeper into specific areas of economics, such as international trade, public finance, and economic development- Explore more advanced textbooks and academic literature on economic theory and policy- Enhance quantitative skills through data analysis and modeling- Consider pursuing internships or research opportunities to apply economic concepts in practical settings- Develop critical thinking skills by analyzing and evaluating economic research and policy proposalsYear 3: Specialization and Application- Choose a specialization within economics, such as environmental economics, labor economics, or behavioral economics- Pursue advanced coursework and research in the chosen specialization- Apply economic principles to real-world problems and develop solutions through research or projects- Strengthen writing and communication skills through composing research papers and reports- Explore opportunities for presenting research at conferences or workshopsYear 4: Culmination and Reflection- Consolidate knowledge and skills acquired throughout the study of economics- Prepare for comprehensive exams or thesis defense, if applicable- Reflect on the journey of learning economics and identify areas for further development - Consider pursuing postgraduate studies or professional certifications in economics- Connect with professionals in the field for mentorship and career guidanceConclusionIn conclusion, my study plan for economics is designed to equip me with a comprehensive understanding of economic theory, quantitative skills, critical thinking, and application of economic principles. By effectively utilizing various resources and committing to a structured timeline, I am confident that I will achieve my learning objectives and develop a strong foundation for a successful career in economics. I am excited to embark on this journey of learning and look forward to the intellectual challenges and opportunities that await me.。
高级微观经济学-教学大纲
⾼级微观经济学-教学⼤纲《⾼级微观经济学》教学⼤纲“Advanced Microeconomics” Course Outline课程编号：151193A课程类型：专业选修课总学时：48 讲课学时：48学分：3适⽤对象：经济学、统计学、⾦融学先修课程：经济学原理、中级微观经济学、线性代数、微积分Course Code: 151193ACourse Type: Specialized elective coursePeriods: 48 Lecture: 48Credits: 3Applicable Subjects: Economics, Statistics, FinancePreparatory Courses: Principles of Microeconomics, Introductory Microeconomics, Linear Algebra, Mathematical Analysis⼀、课程的教学⽬标本课程作为本科学⽣的专业选修课旨在通过介绍微观经济学中的主要模型、原理和证明使学⽣具备进⾏微观经济学研究的基本⽅法与技能,为后续专业课程的学习奠定基础。
This specialized elective course is offered to undergraduate students majoring in Economics, Statistics, and Finance. This course builds the foundation for the study of subsequent major courses and trains the students in the micro – economic research skills.⼆、教学基本要求本课程的教学内容⼤致可以分为四⼤部分。
第⼀部分为个⼈决策理论。
第⼆部分为博弈论。
第三部分为市场均衡和市场失效理论。
平狄克微观经济学(第八版)第四章
和B之间为正常商向后弯曲，它就
成了劣等品。
Copyright © 2013 Pearson Education, Inc. • Microeconomics • Pindyck/Rubinfeld, 8e.
8 of 50
恩格尔曲线
•恩格尔曲线将一种商品的
食物需求量的上升。
Copyright © 2013 Pearson Education, Inc. • Microeconomics • Pindyck/Rubinfeld, 8e.
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收入和替代效应：劣等品
衣服 (单位/月）R
食物是劣等商品，因为价格变化
导致的收入效应是负值。不过，
A B
消费量与收入联系在一起。
•在(a)图中，食物是一种正 常商品，恩格尔曲线向上
倾斜。
•然而，在(b)图中，对于收 入在20美元以下的人来说，
汉堡包是一种正常商品；
而对于收入在20美元以上 的人来说，它则是一种劣
等品。
Copyright © 2013 Pearson Education, Inc. • Microeconomics • Pindyck/Rubinfeld, 8e.
个人需求和市场需求
• 个别需求 • 收入和替代效应 • 市场需求 • 消费者剩余 • 连带外部效应 • 需求的经验估计
Appendix: Demand Theory—A Mathematical Treatment
Prepared by: Fernando Quijano, Illustrator
Copyright © 2013 Pearson Education, Inc. • Microeconomics • Pindyck/Rubinfeld, 8e.
西方经济学--英文版
1.5 Concept of Opportunity Cost
• Opportunity cost of satisfying a want is the next best alternative that has to be forgone, (i.e. the cost of giving up something in order to obtain something else.)
西方经济学--英文版
2023考书：
– Paul A. Samuelson, William D. Nordhaus
• Economics, 18 Edition
– The McGraw-Hill Companies, Inc. 2005 – 中国人民邮电出版社
ECONOMICS
• L. Robbins
– Economics is a "science which studies human behaviour as a relationship between end and scarce means which have alternative uses."
1.2 Various Definitions of Economics
– b) The ways in which production and distribution changes over time.
– c) The efficient and inefficiencies of economic systems.
1.2 Various Definitions of Economics
– i) What goods & services to be produced and in what quantity i.e. how much to be produced? • This concerns with the allocation of scarce resources among alternative uses.
lecture notes in microeconomic theory
lecture notes in microeconomic theoryLecture notes in microeconomic theory typically cover the fundamental concepts and principles of microeconomics. These notes aim to provide a comprehensive understanding of how individuals, households, and firms make economic decisions and interact in markets.Some common topics covered in lecture notes on microeconomic theory may include:1. Introduction to Microeconomics: This section provides an overview of microeconomic principles, the economic problem, and the role of markets in allocating resources.2. Supply and Demand: These notes explain the demand and supply curves, elasticity, market equilibrium, and the factors that influence market outcomes.3. Consumer Behavior: This section delves into the theory of consumer behavior, including utility, preferences, budget constraints, and how consumers make decisions about purchasing goods and services.4. Theory of the Firm: Lecture notes in this area discuss the objectives of a firm, production theory, costs, and different market structures, such as perfect competition, monopolistic competition, oligopoly, and monopoly.5. Market Failures: This section addresses situations where markets may not lead to efficient outcomes, such as market power,externalities, public goods, and asymmetric information.6. Welfare Economics: These notes cover the measurement of economic welfare, including concepts like consumer and producer surplus, efficiency, and equity.7. Game Theory: Lecture notes in this area focus on strategic decision-making and how individuals or firms interact strategically in different situations.8. Topics in Managerial Economics: This section may include additional topics on decision making, pricing strategies, market analysis, and applications of microeconomic theory in business settings.It's important to note that the specific content and organization of lecture notes in microeconomic theory can vary depending on the instructor and the curriculum. The above list provides a general outline of the topics commonly covered in microeconomic theory courses.。
微观经济学英PPT课件
Continuously,
Basically, the general principles are:
Scarcity of resources Opportunity costs Increasing opportunity cost Real Opportunity Cost Real Opportunity cost and inefficiency
One obvious application of microeconomics is in the business field; firms
A firm that wants to enter the biotechnology industry, for instance, must at least know the degree of demand for biotechnology products in the market, the resources available to produce the products and the opportunity cost of using the resources in the production.
If it is measured in money term, see what happen:
Suppose apple costs $10 per unit and apple pie costs $20 per unit. Thus, the opportunity cost remains 1.
微观经济学复习提纲
Outline for Reviewing Microeconomics (2013)3. Short Answer（3×10，30 points）Chapter 2questions for review: 5, 65. Explain why for many goods, the long-run price elasticity of supply is larger than theshort-run elasticity.The price elasticity of supply is the percentage change in the quantity supplied divided by the percentage change in price. In the short run, an increase in price induces firms to produce more by using their facilities more hours per week, paying workers to work overtime and hiring new workers. Nevertheless, there is a limit to how much firms can produce because they face capacity constraints in the short run. In the long run, however, firms can expand capacity by building new plants and hiring new permanent workers. Also, new firms can enter the market and add their output to total supply. Therefore, the price elasticity of supply is larger in the long run than in the short run.6. Why do long-run elasticities of demand differ from short-run elasticities? Consider two goods: paper towels and televisions. Which is a durable good? Would you expect the price elasticity of demand for paper towels to be larger in the short run or in the long run? Why? What about the price elasticity of demand for televisions?Long-run and short-run elasticities differ based on how rapidly consumers respond toprice changes and how many substitutes are available. If the price of paper towels, anon-durable good, were to increase, consumers might react only minimally in the shortrun- because it takes time for people to change their consumption habits. In the longrun, however, consumers might learn to use other products such as sponges or kitchentowels instead of paper towels. In this case, then, the price elasticity would be larger inthe long run than in the short run. In contrast, the quantity demanded of durablegoods, such as televisions, might change dramatically in the short run following a pricechange. For example, the initial result of a price increase for televisions would causeconsumers to delay purchases because they could keep using their current TVs longer.Eventually consumers would replace their televisions as they wore out or becameobsolete. Therefore, we expect the demand for durables to be more elastic in the shortrun than in the long run.Chapter 3questions for review:1, 5；exercise: 21. What are the four basic assumptions about individual preferences? Explain the significance or meaning of each.(1) Preferences are complete: this means that the consumer is able to compare andrank all possible baskets of goods and services. (2) Preferences are transitive: thismeans that preferences are consistent, in that if bundle A is preferred to bundle Band bundle B is preferred to bundle C, then bundle A is preferred to bundle C. (3)More is preferred to less: this means that all goods are desirable, and that theconsumer always prefers to have more of a good. (4) Diminishing marginal rate ofsubstitution: this means that indifference curves are convex, and that the slope ofthe indifference curve increases (becomes less negative) as we move down along thecurve.As a consumer moves down along her indifference curve she is willing to give up fewer units of the good on the vertical axis in exchange for one more unit of the good on the horizontal axis.This assumption also means that balanced market baskets are generally preferred to baskets that have a lot of one good and very little of the other good.5. What happens to the marginal rate of substitution as you move along a convex indifference curve? A linear indifference curve?The MRS measures how much of a good you are willing to give up in exchange for one more unit of the other good, keeping utility constant. The MRS diminishes along a convex indifference curve. This occurs because as you move down along the indifference curve, you are willing to give up less and less of the good on the vertical axis in exchange for one more unit of the good on the horizontal axis. The MRS is also the negative of the slope of the indifference curve, which decreases (becomes closer to zero) as you move down along the indifference curve. The MRS is constant along a linear indifference curve because the slope does not change. The consumer is always willing to trade the same number of units of one good in exchange for the other.Chapter 4 questions for review:1, 3, 111. Explain the difference between each of the following terms:a. a price consumption curve and a demand curveThe difference between a price consumption curve (PCC) and a demand curve is that the PCC shows the quantities of two goods that a consumer will purchase as the price of one of the goods changes, while a demand curve shows the quantity of one good that a consumer will purchase as the price of that good changes. The graph of the PCC plots the quantity of one good on the horizontal axis and the quantity of the other good on the vertical axis. The demand curve plots the quantity of the good on the horizontal axis and its price on the vertical axis.b. an individual demand curve and a market demand curveAn individual demand curve plots the quantity demanded by one person at various prices. A market demand curve is the horizontal sum of all the individual demand curves for the product. It plots the total quantity demanded by all consumers at various prices.c. an Engel curve and a demand curveAn Engel curve shows the quantity of one good that will be purchased by a consumer at different income levels. The quantity of the good is plotted on the horizontal axis and the consumer’s income is on the vertic al axis. A demand curve is like an Engel curve except that it shows the quantity that will be purchased at different prices instead of different income levels.d. an income effect and a substitution effectBoth the substitution effect and income effect occur because of a change in the price of a good. The substitution effect is the change in the quantity demanded of the good due to the price change, holding the consumer’s utility constant. The income effect isthe change in the quantity demanded of the good due to the change in purchasingpower brought about by the change in the good’s price.3. Explain whether the following statements are true or false.a. The marginal rate of substitution diminishes as an individual movesdownward along the demand curve.True. The consumer maximizes his utility by choosing the bundle on his budget linewhere the price ratio is equal to the MRS. For goods 1 and 2, P1/P2 = MRS. As theprice of good 1 falls, the consumer moves downward along the demand curve for good1, and the price ratio (P1/P2) becomes smaller. Therefore, MRS must also becomesmaller, and thus MRS diminishes as an individual moves downward along thedemand curve.b. The level of utility increases as an individual moves downward along thedemand curve.True. As the price of a good falls, the budget line pivots outward, and the consumeris able to move to a higher indifference curve.c. Engel curves always slope upwards.False. If the good is inferior, then as income increases, quantity demandeddecreases, and therefore the Engel curve slopes downwards.11. Explain which of the following items in each pair is more price elastic.a. The demand for a specific brand of toothpaste and the demand for toothpaste in generalThe demand for a specific brand is more elastic because the consumer can easilyswitch to another brand if the price goes up.b. The demand for gasoline in the short run and the demand for gasoline in the longrunDemand in the long run is more elastic since consumers have more time to adjust toa change in price. For example, consumers can buy more fuel efficient vehicles, movecloser to work or school, organize car pools, etc.Chapter 6 questions for review:1, 5, 71. What is a production function? How does a long-run production function differ from a short-run production function?A production function represents how inputs are transformed into outputs by a firm.In particular, a production function describes the maximum output that a firm canproduce for each specified combination of inputs. In the short run, one or more factorsof production cannot be changed, so a short-run production function tells us themaximum output that can be produced with different amounts of the variable inputs,holding fixed inputs constant. In the long-run production function, all inputs arevariable.5. What is the difference between a production function and an isoquant?A production function describes the maximum output that can be achieved with anygiven combination of inputs. An isoquant identifies all of the different combinationsof inputs that can be used to produce one particular level of output.7. Isoquants can be convex, linear, or L-shaped. What does each of these shapes tell youabout the nature of the production function? What does each of these shapes tell you about the MRTS?Convex isoquants indicate that some units of one input can be substituted for a unitof the other input while maintaining output at the same level. In this case, theMRTS is diminishing as we move down along the isoquant. This tells us that it becomes more and more difficult to substitute one input for the other while keeping output unchanged. Linear isoquants imply that the slope, or the MRTS, is constant.This means that the same number of units of one input can always be exchanged fora unit of the other input holding output constant. The inputs are perfect substitutesin this case. L-shaped isoquants imply that the inputs are perfect complements, andthe firm is producing under a fixed proportions type of technology. In this case thefirm cannot give up one input in exchange for the other and still maintain the samelevel of output. For example, the firm may require exactly 4 units of capital for eachunit of labor, in which case one input cannot be substituted for the other.Chapter 7questions for review:3, 7, 143. Please explain whether the following statements are true or false.a. If the owner of a business pays himself no salary, then the accounting cost is zero, but the economic cost is positive.This is True. Since there is no monetary transaction, there is no accounting, or explicit, cost. However, since the owner of the business could be employed elsewhere, there is an economic cost. The economic cost is positive, and reflectsing the opportunity cost of the owner’s time. The economic cost is the value of the owner’stime in his next best alternative, or the amount that the owner would earn if he tookthe next best job.7. Assume that the marginal cost of production is increasing. Can you determine whether the average variable cost is increasing or decreasing? Explain.When marginal cost is increasing, average variable cost can be either increasing or decreasing as shown in the diagram below. Marginal cost begins increasing at output level q1, but AVC is decreasing. This happens because MC is below AVC and is therefore pulling AVC down. AVC is decreasing for all output levels between q1 and q2. At q2, MC cuts through the minimum point of AVC, and AVC begins to rise becauseMC is above it. Thus, for output levels greater than q2, AVC is increasing.17.14. What is the difference between economies of scale and returns to scale? Economies of scale depend on the relationship between what happens to cost andwhen outpuoutput i.e., how does cost change when output is doubled? t is doubled. Returns to scale depend on what happens to output when all inputs are doubled. The difference is that economies of scale reflect input proportions that change optimallyas output is increased, while returns to scale are based on fixed input proportions (such as two units of labor for every unit of capital) as output increases.Chapter 8questions for review:3, 4, 11Chapter 10 questions for review:2, 3, 5, 8Chapter 11questions for review:1, 3, 4Chapter 12 questions for review:2, 6, 8, 10 Chapter 14questions for review:2, 4, 5Chapter 16questions for review:4, 7, 13Chapter 17questions for review:6, 10；exercise: 3, 4 Chapter 18questions for review:1, 2, 3, 104. Caculation（2×10，20 points）Chapter 2exercise:11Chapter 3exercise:14, 16Chapter 4exercise:9, 13Chapter 6exercise:7, 8, 9Chapter 7exercise:3, 9, 11Chapter 8exercise:4, 5, 6, 7, 11 Chapter 10exercise:6, 7Chapter 11exercise:4, 5Chapter 12exercise:3(a/b/c/d), 4, 6(a/b/c) Chapter 14exercise:8, 10(a/b/c) Chapter 18exercise:3。
曼昆宏观经济学 23章英文答案
405WHAT’S NEW IN THE SIXTH EDITION:There is a new In the News box on ―Beyond Gross Domestic Product.‖LEARNING OBJECTIVES:By the end of this chapter, students should understand:why an economy’s total income equ als its total expenditure.how gross domestic product (GDP) is defined and calculated.the breakdown of GDP into its four major components.the distinction between real GDP and nominal GDP.whether GDP is a good measure of economic well-being.CONTEXT AND PURPOSE:Chapter 10 is the first chapter in the macroeconomic section of the text. It is the first of a two-chapter sequence that introduces students to two vital statistics that economists use to monitor themacroeconomy —GDP and the consumer price index. Chapter 10 develops how economists measure production and income in the macroeconomy. The following chapter, Chapter 11, develops howeconomists measure the level of prices in the macroeconomy. Taken together, Chapter 10 concentrates on the quantity of output in the macroeconomy while Chapter 11 concentrates on the price of output in the macroeconomy.The purpose of this chapter is to provide students with an understanding of the measurement and the use of gross domestic product (GDP). GDP is the single most important measure of the health of the macroeconomy. Indeed, it is the most widely reported statistic in every developed economy.MEASURING A NATION’SINCOME406 ❖Chapter 23/Measuring a Nation’s IncomeKEY POINTS:∙ Because every transaction has a buyer and a seller, the total expenditure in the economy must equal the total income in the economy.∙ Gross domestic product (GDP) measures an economy’s total expenditure on newly produced goods and services and the total income earned from the production of these goods and services. More precisely, GDP is the market value of all final goods and services produced within a country in a given period of time.∙ GDP is divided among four components of expenditure: consumption, investment, government purchases, and net exports. Consumption includes spending on goods and services by households, with the exception of purchases of new housing. Investment includes spending on new equipment and structures, including households’ pur chases of new housing. Government purchases include spending on goods and services by local, state, and federal governments. Net exports equal the value of goods and services produced domestically and sold abroad (exports) minus the value of goods and services produced abroad and sold domestically (imports).∙ Nominal GDP uses current prices to value the economy’s production of goods and services. Real GDP uses constant base-year prices to value the economy’s production of goods and services. The GDP defla tor―calculated from the ratio of nominal to real GDP―measures the level of prices in theeconomy.∙ GDP is a good measure of economic well-being because people prefer higher incomes to lower incomes. But it is not a perfect measure of well-being. For example, GDP excludes the value ofleisure and the value of a clean environment.CHAPTER OUTLINE:I. Review of the Definitions of Microeconomics and MacroeconomicsA. Definition of microeconomics: the study of how households and firms make decisionsand how they interact in markets.B. Definition of macroeconomics: the study of economy-wide phenomena includinginflation, unemployment, and economic growth.II. The Economy’s Income and ExpenditureA. To judge whether or not an economy is doing well, it is useful to look at Gross Domestic Product(GDP).Chapter 23/Measuring a Natio n’s Income ❖ 4071. GDP measures the total income of everyone in the economy.2. GDP measures total expenditure on an economy’s output of goods and services.B. For an economy as a whole, total income must equal total expenditure.1. If someone pays someone else $100 to mow a lawn, the expenditure on the lawn service($100) is exactly equal to the income earned from the production of the lawn service ($100).2. We can also use the circular-flow diagram from Chapter 2 to show why total income and totalexpenditure must be equal.a. Households buy goods and services from firms; firms use this money to pay for resourcespurchased from households.b. In the simple economy described by this circular-flow diagram, calculating GDP could bedone by adding up the total purchases of households or summing total income earned by households.408 ❖ Chapter 23/Measuring a Nation’s Incomec. Note that this simple diagram is somewhat unrealistic as it omits saving, taxes,government purchases, and investment purchases by firms. However, because atransaction always has a buyer and a seller, total expenditure in the economy must be equal to total income.III. The Measurement of Gross Domestic ProductA. Definition of gross domestic product (GDP): the market value of all final goods andservices produced within a country in a given period of time .B. ―GDP Is the Market Value . . .‖ 1. To add together different items, market values are used. 2. Market values are calculated by using market prices.C. ―. . . Of All . . .‖1. GDP includes all items produced and sold legally in the economy.2. The value of housing services is somewhat difficult to measure.a. If housing is rented, the value of the rent is used to measure the value of the housingservices. b. For housing that is owned (or mortgaged), the government estimates the rental valueand uses this figure to value the housing services. 3. GDP does not include illegal goods or services or items that are not sold in markets. a. When you hire someone to mow your lawn, that production is included in GDP.b. If you mow your own lawn, that production is not included in GDP.D. ―. . . Final . . .‖ 2. The value of intermediate goods is already included as part of the value of the final good.Chapter 23/Measuring a Natio n’s Income❖4093. Goods that are placed into inventory are considered to be ―final‖ and included in GDP as afirm’s inventory investment.a. Goods that are sold out of inventory are counted as a decrease in inventory investment.b. The goal is to count the production when the good is finished, which is not necessarilythe same time that the product is sold.E. ―. . . Goods and Services . . .‖1. GDP includes both tangible goods and intangible services.F. ―. . . Produced . . .‖1. Only current production is counted.2. Used goods that are sold do not count as part of GDP.G. ―. . . Within a Country . . .‖1. GDP measures the production that takes place within the geographical boundaries of aparticular country.2. If a Canadian citizen works temporarily in the United States, the value of his output isincluded in GDP for the United States. If an American owns a factory in Haiti, the value of the production of that factory is not included in U.S. GDP.H. ―. . . in a Given Period of Time.‖1. The usual interval of time used to measure GDP is a quarter (three months).2. When the government reports GDP, the data are generally reported on an annual basis.3. In addition, data are generally adjusted for regular seasonal changes (such as Christmas).I. In addition to summing expenditure, the government also calculates GDP by adding up totalincome in the economy.1. The two ways of calculating GDP almost exactly give the same answer.2. The difference between the two calculations of GDP is called the statistical discrepancy.410 ❖ Chapter 23/Measuring a Nation’s IncomeJ. FYI: Other Measures of IncomeA. Gross National Product (GNP) is the total income earned by a nation’s permanent residents.1. GNP includes income that American citizens earn abroad.2. GNP excludes income that foreigners earn in the United States.B. Net National Product (NNP) is the total income of a nation’s residents (GNP) minus losses fromdepreciation (wear and tear on an economy’s stock of equipment and structures).C. Nati onal income is the total income earned by a nation’s residents in the production of goods andservices.1. National income differs from NNP by excluding indirect business taxes and including businesssubsidies.2. NNP and national income also differ due to ―statistical discrepancy.‖ D. Personal income is the income that households and noncorporate businesses receive.E. Disposable personal income is the income that households and noncorporate businesses have leftafter taxes and other obligations to the government.IV. The Components of GDPA. GDP (Y ) can be divided into four components: consumption (C ), investment (I ), governmentpurchases (G ), and net exports (NX ).B. Definition of consumption: spending by households on goods and services, with theexception of purchases of new housing . C. Definition of investment: spending on capital equipment, inventories, and structures,including household purchases of new housing .1. GDP accounting uses the word ―investment‖ differently from how w e use the term ineveryday conversation.2. When a student hears the word ―investment,‖ he or she thinks of financial instruments suchas stocks and bonds.Chapter 23/Measuring a Natio n’s Income ❖ 4113. In GDP accounting, investment means purchases of investment goods such as capitalequipment, inventories, or structures.D. Definition of government purchases: spending on goods and services by local, state,and federal governments .1. Salaries of government workers are counted as part of the government purchases componentof GDP. 2. Transfer payments are not included as part of the government purchases component of GDP.E. Definition of net exports: spending on domestically produced goods by foreigners(exports) minus spending on foreign goods by domestic residents (imports).F. Case Study: The Components of U.S. GDP1. Table 1 shows these four components of GDP for 2009.2. The data for GDP come from the Bureau of Economic Analysis, which is part of theDepartment of Commerce. V. Real Versus Nominal GDPA. There are two possible reasons for total spending to rise from one year to the next.1. The economy may be producing a larger output of goods and services.2. Goods and services could be selling at higher prices.B. When studying GDP over time, economists would like to know if output has changed (not prices).C. Thus, economists measure real GDP by valuing output using a fixed set of prices.D. A Numerical Example412 ❖ Chapter 23/Measuring a Nation’s Income1. Two goods are being produced: hot dogs and hamburgers.2. Definition of nominal GDP: the production of goods and services valued at currentprices .Nominal GDP for 2010 = ($1 × 100) + ($2 × 50) = $200. Nominal GDP for 2011 = ($2 × 150) + ($3 × 100) = $600. Nominal GDP for 2012 = ($3 × 200) + ($4 × 150) = $1,200.3. Definition of real GDP: the production of goods and services valued at constantprices .Let’s assume that the base year is 2008.Real GDP for 2010 = ($1 × 100) + ($2 × 50) = $200. Real GDP for 2011 = ($1 × 150) + ($2 × 100) = $350. Real GDP for 2012 = ($1 × 200) + ($2 × 150) = $500. E. Because real GDP is unaffected by changes in prices over time, changes in real GDP reflectchanges in the amount of goods and services produced.Chapter 23/Measuring a Natio n’s Income ❖ 413F. The GDP Deflator1. Definition of GDP deflator: a measure of the price level calculated as the ratio ofnominal GDP to real GDP times 100.2. Example CalculationsGDP Deflator for 2010 = ($200 / $200) × 100 = 100. GDP Deflator for 2011 = ($600 / $350) × 100 = 171. GDP Deflator for 2012 = ($1200 / $500) × 100 = 240.G. Case Study: Real GDP over Recent History1. Figure 2 shows quarterly data on real GDP for the United States since 1965.2. We can see that real GDP has increased over time.414 ❖ Chapter 23/Measuring a Nation’s Income3. We can also see that there are times when real GDP declines. These periods are calledrecessions. VI. Is GDP a Good Measure of Economic Well-Being?A. GDP measures both an economy’s total income and its total expenditure on goods and services.B. GDP per person tells us the income and expenditure level of the average person in the economy.C. GDP, however, may not be a very good measure of the economic well-being of an individual.1. GDP omits important factors in the quality of life including leisure, the quality of theenvironment, and the value of goods produced but not sold in formal markets.2. GDP also says nothing about the distribution of income.3. However, a higher GDP does help us achieve a good life. Nations with larger GDP generallyhave better education and better health care.D. In the News: The Underground Economy1. The measurement of GDP misses many transactions that take place in the undergroundeconomy.2. This article compares the underground economies of the United States and several othercountries.E. Case Study: International Differences in GDP and the Quality of Life1. Table 3 shows real GDP per person, life expectancy, adult literacy rates, and Internet usagefor 12 countries.2. In rich countries, life expectancy is higher and adult literacy and Internet usage rates arealso high. 3. In poor countries, people typically live only into their 50s, only about half of the adultpopulation is literate, and Internet usage is very rare.F. In the News: Beyond Gross Domestic Product1. Some economists wonder if we need a better measure of economic well-being.2. This is an article from The New York Times describing some criticisms of using GDP solely tomeasure economic well-being.SOLUTIONS TO TEXT PROBLEMS:Quick Quizzes:1. Gross domestic product measures two things at once: (1) the total income of everyone inthe economy and (2) the total exp enditure on the economy’s output of final goods andservices. It can measure both of these things at once because all expenditure in theeconomy ends up as someone’s income.2. The production of a pound of caviar contributes more to GDP than the production of a poundof hamburger because the contribution to GDP is measured by market value and the price ofa pound of caviar is much higher than the price of a pound of hamburger.3. The four components of expenditure are: (1) consumption; (2) investment; (3) governmentpurchases; and (4) net exports. The largest component is consumption, which accounts formore than 70 percent of total expenditure.4. Real GDP is the production of goods and services valued at constant prices. Nominal GDP isthe production of goods and services valued at current prices. Real GDP is a better measureof economic well-being because changes in real GDP reflect changes in the amount of outputbeing produced. Thus, a rise in real GDP means people have produced more goods andservices, but a rise in nominal GDP could occur either because of increased production orbecause of higher prices.5. Although GDP is not a perfect measure of well-being, policymakers should care about itbecause a larger GDP means that a nation can afford better healthcare, better educationalsystems, and more of the material necessities of life.Questions for Review:1. An economy's income must equal its expenditure, because every transaction has a buyer anda seller. Thus, expenditure by buyers must equal income by sellers.2. The production of a luxury car contributes more to GDP than the production of an economycar because the luxury car has a higher market value.3. The contribution to GDP is $3, the market value of the bread, which is the final good that issold.4. The sale of used records does not affect GDP at all because it involves no current production.5. The four components of GDP are consumption, such as the purchase of a DVD; investment,such as the purchase of a computer by a business; government purchases, such as an orderfor military aircraft; and net exports, such as the sale of American wheat to Russia. (Manyother examples are possible.)6. Economists use real GDP rather than nominal GDP to gauge economic well-being becausereal GDP is not affected by changes in prices, so it reflects only changes in the amountsbeing produced. You cannot determine if a rise in nominal GDP has been caused byincreased production or higher prices.7.The percentage change in nominal GDP is (600 – 200)/200 x 100% = 200%. The percentagechange in real GDP is (400 – 200)/200 x 100% = 100%. The percentage change in the deflator is (150 – 100)/100 x 100% = 50%.8. It is desirable for a country to have a large GDP because people could enjoy more goods andservices. But GDP is not the only important measure of well-being. For example, laws thatrestrict pollution cause GDP to be lower. If laws against pollution were eliminated, GDP wouldbe higher but the pollution might make us worse off. Or, for example, an earthquake wouldraise GDP, as expenditures on cleanup, repair, and rebuilding increase. But an earthquake isan undesirable event that lowers our welfare.Problems and Applications1. a. Consumption increases because a refrigerator is a good purchased by a household.b. Investment increases because a house is an investment good.c. Consumption increases because a car is a good purchased by a household, butinvestment decreases because the car in Ford’s inventory had been counted as aninvestment good until it was sold.d. Consumption increases because pizza is a good purchased by a household.e. Government purchases increase because the government spent money to provide a goodto the public.f. Consumption increases because the bottle is a good purchased by a household, but netexports decrease because the bottle was imported.g. Investment increases because new structures and equipment were built.2. With transfer payments, nothing is produced, so there is no contribution to GDP.3. If GDP included goods that are resold, it would be counting output of that particular year,plus sales of goods produced in a previous year. It would double-count goods that were soldmore than once and would count goods in GDP for several years if they were produced inone year and resold in another.4. a. Calculating nominal GDP:2010: ($1 per qt. of milk ⨯ 100 qts. milk) + ($2 per qt. of honey ⨯ 50 qts. honey) = $2002011: ($1 per qt. of milk ⨯ 200 qts. milk) + ($2 per qt. of honey ⨯ 100 qts. honey) =$4002012: ($2 per qt. of milk ⨯ 200 qts. milk) + ($4 per qt. of honey ⨯ 100 qts. honey) =$800Calculating real GDP (base year 2010):2010: ($1 per qt. of milk ⨯ 100 qts. milk) + ($2 per qt. of honey ⨯ 50 qts. honey) = $2002011: ($1 per qt. of milk ⨯ 200 qts. milk) + ($2 per qt. of honey ⨯ 100 qts. honey) =$4002012: ($1 per qt. of milk ⨯ 200 qts. milk) + ($2 per qt. of honey ⨯ 100 qts. honey) =$400Calculating the GDP deflator:2010: ($200/$200) ⨯ 100 = 1002011: ($400/$400) ⨯ 100 = 1002012: ($800/$400) ⨯ 100 = 200b. Calculating the percentage change in nominal GDP:Percentage change in nominal GDP in 2011 = [($400 – $200)/$200] ⨯ 100% = 100%.Percentage change in nominal GDP in 2012 = [($800 – $400)/$400] ⨯ 100% = 100%.Calculating the percentage change in real GDP:Percentage change in real GDP in 2011 = [($400 – $200)/$200] ⨯ 100% = 100%.Percentage change in real GDP in 2012 = [($400 – $400)/$400] ⨯ 100% = 0%.Calculating the percentage change in GDP deflator:Percentage change in the GDP deflator in 2011 = [(100 – 100)/100] ⨯ 100% = 0%.Percentage change in the GDP deflator in 2012 = [(200 – 100)/100] ⨯ 100% = 100%.Prices did not change from 2010 to 2011. Thus, the percentage change in the GDPdeflator is zero. Likewise, output levels did not change from 2011 to 2012. This meansthat the percentage change in real GDP is zero.c. Economic well-being rose more in 2010 than in 2011, since real GDP rose in 2011 but notin 2012. In 2011, real GDP rose but prices did not. In 2012, real GDP did not rise butprices did.5. a. Calculating Nominal GDP:Year 1: (3 bars ⨯ $4) = $12Year 2: (4 bars ⨯ $5) = $20Year 3: (5 bars ⨯ $6) = $30b. Calculating Real GDP:Year 1: (3 bars ⨯ $4) = $12Year 2: (4 bars ⨯ $4) = $16Year 3: (5 bars ⨯ $4) = $20c. Calculating the GDP delator:Year 1: $12/$12 ⨯ 100 = 100Year 2: $20/$16 ⨯ 100 = 125Year 3: $30/$20 ⨯ 100 = 150d. The growth rate from Year 2 to Year 3 = (16 – 12)/12 ⨯ 100% = 4/12 ⨯ 100% = 33.3%e. The inflation rate from Year 2 to Year 3 = (150 – 125)/125 ⨯ 100% = 25/125 ⨯ 100% =20%.f. To calculate the growth rate of real GDP, we could simply calculate the percentagechange in the quantity of bars. To calculate the inflation rate, we could measure thepercentage change in the price of bars.6.a. The growth rate of nominal GDP = 100% ⨯ [($14,256/$9,353)0.10– 1] = 4.3%b. The growth rate of the deflator = 100% ⨯ [(109.886.8)0.10– 1] = 2.4%c. Real GDP in 1999 (in 2005 dollars) is $9,353/(86.8/100) = $10,775.35.d. Real GDP in 2009 (in 2005 dollars) is $14,256/(109.8/100) = $12,983.61.e. The growth rate of real GDP = 100% ⨯ [($12,983.61/$10,775.35)0.10– 1] = 1.9%f. The growth rate of nominal GDP is higher than the growth rate of real GDP because ofinflation.7. Many answers are possible.8. a. GDP is the market value of the final good sold, $180.b. Value added for the farmer: $100.Value added for the miller: $150 – $100 = $50.Value added for the baker: $180 – $150 = $30.c. Together, the value added for the three producers is $100 + $50 + $30 = $180. This isthe value of GDP.9. In countries like India, people produce and consume a fair amount of food at home that isnot included in GDP. So GDP per person in India and the United States will differ by more than their comparative economic well-being.10. a. The increased labor-force participation of women has increased GDP in the United States,because it means more people are working and production has increased.b. If our measure of well-being included time spent working in the home and taking leisure,it would not rise as much as GDP, because the rise in women's labor-force participationhas reduced time spent working in the home and taking leisure.c. Other aspects of well-being that are associated with the rise in women's increased labor-force participation include increased self-esteem and prestige for women in theworkforce, especially at managerial levels, but decreased quality time spent with children, whose parents have less time to spend with them. Such aspects would be quite difficultto measure.11. a. GDP equals the dollar amount Barry collects, which is $400.b. NNP = GDP – depreciation = $400 – $50 = $350.c. National income = NNP = $350.d. Personal income = national income – retained earnings – indirect business taxes = $350– $100 – $30 = $220.e. Disposable personal income = personal income – personal income tax = $220 – $70 =$150.。
金融学大纲(英文)Microeconomics Course Descriptions
Soochow UniversityCourse DescriptionsCourse Title: MicroeconomicsCourse Code: FIAI1001Teaching Hours: 54Credits: 3Pre-requisite courses: NoneI. Course Description:The course Microeconomics provides a concise, yet complete, coverage of microeconomic theory, its application, and policy in a global environment. Central concepts are explained and the standard tools of analysis in the fundamentals of the discipline are also discussed. The meaning of “well-being” in the context of an effi cient use of the economy’s resources is explored with reference to externalities and the problems of controlling climate change in that context.This course also covers the development of an understanding of individual optimizing behavior, which in turn enables the students to link household decisions on savings and investment with firms’ decisions on production, size, and growth, a natural progression to production and cost structures and a variety of different market structures.Market for the inputs in the productive process—capital and labour—are a natural component of firm-level decisions. Education and human capital are omnipresent concepts and concerns in the modern economy, as well as a non-market player in the economy—the government—and the modern theory of international trade, all deserve due attention in this course.II. Course Book：Microeconomics, Second Canadian Edition, Douglas Curtis, Ian Irvine, David Begg, 2010III. Course Outline1. Introduction2. Resource Allocation3. Role of the Market4. Tools of Economics Analysis5. The Market: Demand6. The Market: Supply7. The Market: Equilibrium8. The Market: Demand Shifts9. Long-run/ Short-run, Elasticity of Demand10. Consumer and Production Surplus11. Production and Costs, Efficient Market Outcomes12. Market Failure, Marginal Utility13. Budget Constraints14. Market Types15. International TradeIV. Achievement GradingThis course has a mid-term examination and a final examination. The score of the mid-term examination constitutes 30% and that of the final 50% of a student’s final grade. The remaining 10% of the grade is given on the basis of the student’s class participation, i.e. attendance, participation in class discussions and group work, weekly writing assignments, as well as the weekly reading assignments from various sources.1. The classroom performance, including attendance 10%2. The mid-term Exam 30%3. The final Exam 60%All the examinations are strictly governed by the University Policy. The grades are given in the following transferring scale.V. Reference Book(s)Microeconomics, fifth edition, by Elijah M. James.。
一周的学习计划带翻译
一周的学习计划带翻译Week 1MondayMorning:- 9:00-10:00: Review notes from last week's lectures on economics.- 10:00-11:00: Read assigned chapters on microeconomics and take detailed notes.- 11:00-12:00: Complete and submit online quiz on the topic.Afternoon:- 1:00-2:00: Meet with study group to discuss upcoming group project on market structures. - 2:00-3:00: Work on individual portion of group project, researching industry examples of different market structures.- 3:00-4:00: Review and revise project outline based on group discussion.Evening:- 7:00-8:30: Attend online webinar on current trends in macroeconomics and take notes.- 8:30-9:30: Review and summarize key points from the webinar.TuesdayMorning:- 9:00-10:00: Attend virtual office hours with economics professor to seek clarification on last week's lecture material.- 10:00-11:00: Complete assigned reading on economic policy and prepare questions for class discussion.- 11:00-12:00: Write out answers to discussion questions and prepare to participate in class. Afternoon:- 1:00-2:00: Work on individual research project on the role of government in the economy. - 2:00-3:00: Conduct interviews with professionals in the field to gather primary data for the project.- 3:00-4:00: Organize and analyze research findings.Evening:- 7:00-8:30: Review and summarize the key concepts of the day's reading and research.- 8:30-9:30: Prepare outline for research project and set goals for the next few days. WednesdayMorning:- 9:00-10:00: Prepare presentation for group project on market structures.- 10:00-11:00: Meet with group to rehearse and refine presentation.- 11:00-12:00: Finalize and submit presentation materials.Afternoon:- 1:00-3:00: Attend special lecture on global economic trends and take detailed notes.- 3:00-4:00: Review and summarize key points from the lecture.Evening:- 7:00-8:00: Engage in a virtual debate on economic policy with classmates.- 8:00-9:30: Reflect on the debate and write a brief reflection on personal insights and learning from the experience.ThursdayMorning:- 9:00-10:00: Meet with professor to discuss progress on individual research project and seek guidance on data analysis.- 10:00-11:00: Continue analyzing research data and refine project thesis.- 11:00-12:00: Write the first draft of the research project.Afternoon:- 1:00-2:00: Attend workshop on statistical analysis in economics and practice relevant techniques.- 2:00-3:00: Review and summarize key points from the workshop.- 3:00-4:00: Apply newly learned statistical techniques to research project data analysis. Evening:- 7:00-8:30: Continue working on the research project, focusing on data interpretation and drawing conclusions.- 8:30-9:30: Review and revise the first draft of the project.FridayMorning:- 9:00-10:00: Meet with study group to review and prepare for upcoming midterm exam. - 10:00-11:00: Work on practice problems and review key concepts for the exam.- 11:00-12:00: Discuss and clarify any remaining doubts with the group.Afternoon:- 1:00-3:00: Take practice exam to assess readiness for the midterm.- 3:00-4:00: Review and analyze the results of the practice exam to identify areas for improvement.Evening:- 7:00-9:00: Attend virtual study session with classmates to review and quiz each other on the week's material.- 9:00-10:00: Review and summarize key concepts and prepare a study guide for the midterm exam.SaturdayMorning:- 9:00-11:00: Review study guide and key concepts for the midterm exam.- 11:00-12:00: Take a practice exam under timed conditions to simulate the actual test. Afternoon:- 1:00-2:00: Reflect on the practice exam and identify any remaining areas for review.- 2:00-3:00: Review and summarize the week's learning and achievements.- 3:00-4:00: Plan and set goals for the upcoming week.Evening:- 7:00-9:00: Relax and engage in a leisure activity to recharge for the week ahead. SundayMorning:- 9:00-11:00: Review any remaining study material and do a final review of the week's notes. - 11:00-12:00: Prepare a study kit with all necessary materials for the exam.Afternoon:- 1:00-3:00: Attend to any last-minute questions or concerns with study group members.- 3:00-4:00: Engage in a relaxation technique to reduce exam anxiety and stress. Evening:- 7:00-9:00: Get a good night's sleep to ensure readiness for the midterm exam tomorrow.这一周我的学习计划安排得井井有条，充分利用了每天的时间，从早到晚都有明确的学习任务和目标。
AP微观经济学教学大纲4ap06_microecon_syllabus4
AP微观经济学教学⼤纲4ap06_microecon_syllabus4AP? MicroeconomicsSyllabus 4AP? Microeconomics is a one-trimester (12-week) course that focuses on how economic decisions are made by individuals, firms, and organizational structures. Supply and demand analysis is developed to demonstrate how market prices are determined, how those prices determine an economy's allocation of goods and services, how factors of production are allocated in the production process, and how goods and services are distributed throughout the economy. We evaluate the strengths and weaknesses of economic decision makers by using the concepts of efficiency and equity. We also analyze and evaluate the effects of government intervention. Emphasis is placed on reasoned logical argument so that we can use economics as a method and model for decision making.Text and MaterialsGwartney, James D., et al. Economics: Private and Public Choice. Fort Worth: Dryden Press, 2005.Morton, John S. Advanced Placement Economics: Microeconomics. New York: National Council on Economic Education, 2003.Two books: Student Activities and Teacher Resources Manual.Studenmund, A. H., Richard L. Stroup, and James D. Gwartney. Coursebook to Accompany Economics: Private and Public Choice. Fort Worth: Dryden Press, 2005.Study Procedures: While the syllabus details the topics and assignments, students have found it helpful to follow these study procedures:1. Review each unit's AP content and AP Exam expectations.Focus your reading and class time on mastering the coreconcepts as outlined by the College Board in the APMicroeconomics Course Description. Review the types ofquestions asked about the AP content.2. Preview the Performance Objectives. The unit Objectives arewhat you will be expected to demonstrate. The Chief FacultyConsultant in AP Economics periodically identifies andcompiles a list of problematic areas. Chief Reader Notes arecited to indicate particular problem areas of student learning.3. Take notes on the Teaching Concepts/Lessons. These are presentations of economic concepts, and your personal notes on them become your best text. You are encouraged to share your notes with other students in order to check the accuracy of your notes, clarify misunderstandings, and assist in solvingthe AP practice exercises.4. Practice Graphs. Each unit specifies the graphs you must be able to draw and explain. All graphs must be correctly labeled. [CR6]5. Do the practice problems. Exhibitions of Understanding are a series of readings and exercises that you must complete as guided classroom practice or as homework. Some practice problems are previous AP Economics Exam questions.6. Know when calculator use is permissible. Calculators are not allowed on any portion of the AP Economics Exam. However, calculators can be used for solving homeworkassignments and problem sets. They may also be used during class.Evaluation: Standard scores are used (mean = 50; standard deviation = 20)to evaluate student performance. The general weights assigned to the scores are:1/3—Completion of homework assignments (evaluated on acriterion-reference basis)1/3—Three problem sets (evaluated on a norm-reference basis) 1/3—Two objective examinations (midterm and final, evaluated on a norm-reference basis)Course OutlineUnit I: AP Content and AP Exam Expectations(1 week)I.Basic Economic ConceptsA. Scarcity: the nature of economic systems [CR1]B. Opportunity cost and production possibilities [CR5]C. Specialization and comparative advantageD. The functions of any economic system (what, how, and for whom to produce) [CR1]Performance ObjectivesYou must be able to:1. Define scarcity, choice, and cost.2. Define and compute opportunity cost.3. List and define the axioms of economic reasoning.4. Distinguish between positive and normative statements.5. List and explain the economic questions facing all nations.6. Construct and interpret production possibilities schedules and graphs.7. Define how production possibilities schedules and graphs illustrate the issues of scarcity, choice, and cost.8. Define and calculate absolute and comparative advantage for production and exchange.9. Define allocation, efficiency, and equity.10. Explain ways in which societies determine allocation, efficiency, and equity.Chief Reader NoteSolve comparative advantage problems holding inputs constant with outputs varying and holding outputs constant with inputs varying.Teaching Concepts/Lessons1. The Economic Problem: Scarcity, Choice, and Cost2. The Economic Problem: Efficiency and Equity3. The Logic of Individual Choice: MSC = MSB4. The Logic of Trade: Absolute versus Comparative AdvantageGraphsYou must be able to:1. Illustrate and label a production possibilities curve.2. Illustrate the concepts of scarcity, choice, cost, and economic growth.3. Illustrate the effects of trade on a production possibility graph. [CR6]Exhibitions of UnderstandingYou must complete the following exercises: ? Gwartney, Chapter 1 ? Coursebook#1, The Economic Approach #2, Some Tools of the Economist APE Exercises#2, Scarcity, Opportunity Cost, and Production Possibilities Curve #3, Scarcity, Opportunity Cost, Values, and Choice #4, The Cost of College#5, Types of Economic Systems #6, Broad Goals of a Society#9, The Hatfields and the McCoysUnit II-A: AP Content and AP Exam Expectations(1 week)II. The Nature and Functions of Product MarketsA. Supply and Demand1. Price and quantity determination2. Basic manipulation of supply and demand, including ceilings and floors [CR2] ? 1989 AP Exam, imposition of a price ceiling1990 AP Exam, the effects on price and output given a change in demand in competitive industry1991 AP Exam, how a change in wage rate affected supply and demand in 1992; how a price ceiling affected Qd and Qs 1993 AP Exam, how a cost change affected an industry1993 AP Exam, how a complement’s price affects a given good in terms of price and quantities1994 AP Exam, how a per-unit tax affected price and quantity 1995 AP Exam, how technology affected price and quantities of a good and its substitute1996 AP Exam, supply and demand analysis of tickets with inelastic supply curve; effects of a price ceiling on a market Performance ObjectivesYou must be able to:1. Define and illustrate supply and demand through schedules and graphs.2. Distinguish between changes in supply and demand and between changes in quantity demanded and supplied.3. Explain the inverse and positive relationships between price and quantity demanded and quantity supplied.4. Identify and explain the variables that cause changes in supply and demand.5. Define and illustrate equilibrium.6. Define and illustrate surpluses and shortages.7. Define effects of surpluses and shortages on prices and quantities.8. Predict the changes in prices and quantities given changes in demand and/or supply.9. Interpret and compute equilibrium price and quantity from graphs, mathematical equations, and/or data. 10. Interpret market conditions given novel data.11. Define and explain the effects of price ceilings and price supports.Chief Reader NotesDistinguish between elastic and inelastic supply and demand.Know how to impose an effective price ceiling and how to interpret graphs.Teaching Concepts/Lessons1.Demand and Supply: Changes in Qd/Qs 2. Equilibrium: Qd=Qs3. Factors Causing a Change in Supply and Demand4. Market Problems5. Ceilings and Floors [CR2]GraphsYou must be able to:1. Illustrate and correctly label a supply and demand graph.2. Show changes in supply/demand.3. Show the effects of a price ceiling and price floors.4. Show a change in demand (supply) versus a change in quantity demanded (quantity supplied). [CR6]Exhibitions of UnderstandingYou must complete the following exercises: ? Gwartney, Chapters 2 and 3 ? Coursebook#3, Supply, Demand, and the Market Process APE Exercises#13, Reasons for Changes in Demand #16, Reasons for Changes in Supply #17, Supply Curves#18, Equilibrium Prices and Equilibrium Quantities #19, Shifts in Supply and Demand #20, How Markets Allocate Resources ?#25, Price Floors and Ceilings#26, Rent Controls and Affordable Housing #27, The Minimum Wage and Unemployment #28, Farm Supports #29, Pricing Problems ? 1996 AP Exam: Problem #2Unit II-B: AP Content and AP Exam Expectations(1 week)B. Models of Consumer Choice1. Consumer choice behind demand curve2. Elasticity [CR2]1990 AP Exam, relationship among elasticity, revenue, and profit 1994 AP Exam, what happens to price and tax revenues when an inelastic product becomes more elasticPerformance ObjectivesYou must be able to:1. Explain the theory of marginal utility and its relationship todemand.2. Construct and interpret marginal utility schedules and curves.3. Explain how a rational individual decides what to purchase,given necessary information about utility, prices, and income.4. Derive consumer demand schedules and curves givennecessary information about utility, prices, and income.5. Define, explain, calculate, and interpret the price elasticity ofdemand.6. Identify and interpret the relationship between the priceelasticity of demand and the effect of a price change on totalrevenue.7. List and explain the determinants of price elasticity ofdemand.8. Define, calculate, and interpret cross elasticities and incomeelasticities of demand.9. Define and differentiate between normal and inferior goods.10. Calculate and explain the price elasticity of supply.11. Explain the burden of taxation given elasticity information. Teaching Concepts/Lessons1. Total Utility versus Marginal Utility2. Law of Diminishing Marginal Utility3. Mu/Px = MU/Py4. Elasticity (ignore sign)a. Calculationb. Interpretationc. Relationship with TR5. Income Elasticity6. Cross ElasticityGraphsYou must be able to:1. Draw and illustrate an elastic and an inelastic demand curve.2. Draw and illustrate consumer/producer tax burden given anelastic and inelastic demand curve.3. Given a change in supply, compare and contrast the effects ofprice and quantity changes with elastic and inelastic demandcurves.Exhibitions of UnderstandingYou must complete the following exercises:Gwartney, Chapter 7Coursebook#17, Demand and Consumer Choice ? APE Exercises#15, Why Use a Demand Curve Downsloping #21, What Is Price Elasticity of Demand#22, Elasticity of Demand and Changes in Total Revenue #23, Applying Elasticity to the Real World #24, Elasticity Coefficients ? 1994 AP Exam: Problem #2Unit II-C: AP Content and AP Exam Expectations(1 1/2 weeks)C. Firm Production, Costs, Revenues1. Marginal product and diminishing returns2. Average and marginal cost and revenues3. Long-run costs and economies of scale [CR2]No specific question from 1989 to 1995 AP Exams, but concepts are critical to answering questions about competitive and monopolistic firms1996 AP Exam, knowledge of cost concepts and graph of individual firm are necessary to answer the question1997 AP Exam, calculation of MP and use of marginal analysis to derive supply curve in a competitive firm [CR5] Performance ObjectivesYou must be able to:1. Define and differentiate among different businesses.2. Define the concepts of firm and industry.3. Define, explain, and calculate total product, marginal product, and average product, and describe the relationship among these concepts.4. Define and interpret production functions.5. Define and differentiate between short run and long run and between fixed and variable inputs.6. Define the law of diminishing returns and explain how it is depicted by the total product and marginal product curves.7. Explain the relationship between production and cost.8. Define and differentiate between explicit and implicit costs. 9. Define and calculate cost graphs.10. Calculate and define fixed, variable, average, marginal, and total costs, and explain how they vary with the level of output in the short run and long run.11. Define and explain economies and diseconomies of scale and constant returns to scale.12. Define and calculate the least-cost combination of inputs to employ for an existing firm.Teaching Concepts/Lessons1. Total Production versus Marginal Production2. Short Run: Diminishing MP3. Link Production to Cost a. Fixed Cost b. Variable Costc. Explicit Cost + Implicit Cost = Total Cost 4. Profits: Accounting versus EconomicGraphsYou must be able to:1. Draw and interpret a production function graph.2. Draw and interpret a total-cost graph and average-cost graphs.3. Identify average-fixed, average-variable, and average-cost curves and marginal cost.Exhibitions of UnderstandingYou must complete the following exercises: ? Gwartney, Chapter 18 ? Coursebook#18, Cost and Supply of Goods APE Exercises#30, Different Types of Market Structure #31, Cost of the Individual FirmUnit II-D & E: AP Content and AP ExamExpectations (3 1/2 weeks)D. Product Pricing and Outputs Both in the Individual Firm and in the Market1. Perfect competition2. Imperfect competition a. monopolyb. oligopoly and monopolistic competition [CR2] E. Efficiency and Government Policy Toward Imperfect Competition Competition-Related Questions1989 AP Exam, a competitive firm with a price ceiling imposed on it1990 AP Exam, a competitive firm that experiences a change in the demand for its product1991 AP Exam, how a competitive firm determines output and what happens when variable cost increases1992 AP Exam, a competitive firm that experiences an increase in wholesale prices and a price ceiling1993 AP Exam, a competitive firm experiencing a change in variable cost1994 AP Exam, how wage rates affect the cost for the firm and hence their output1995 AP Exam, how technology affects industry and a firm1996 AP Exam, short-run decisions made by a competitive firm, given specific cost data with efficiency comparison of a monopoly model ?1997 AP Exam, derive a supply curve for a perfectly competitive firm Monopoly-Related Questions1989 AP Exam, assumptions and behavior of a monopolist1992 AP Exam, recognizing a business as a monopoly and how the firm determines level of output and prices1993 AP Exam, same question as 19921994 AP Exam, same question as in previous years on output and price but specifically tested the difference between MR and demandcurve of a monopolist1995 AP Exam, explain relationships between MR in a competitive and monopolistic firm and the relationship between MR and MC ?1996 AP Exam, determine output and price for monopoly; conditions of monopoly versus competitive; compare and contrast output,pricing, and efficiency of competitor with a monopolist ?1997 AP Exam, determine price, output, and profits of a natural monopoly; evaluate impact of government pricing that controls profits and efficient use of resources; determine conditions of shutdown for a monopolyPerformance ObjectivesYou must be able to:1. Define maximization of profits.2. Apply the concepts of marginal cost and marginal revenue todetermine maximization of profits.3. Understand and apply the rule MR = MC.4. Understand the concept of minimization of losses.5. Define the shutdown criterion.6. For each of the following firms:Pure Competition Oligopoly/MonopolisticCompetitionPure Monopolya. Define and explain the conditions under which it functions.b. Construct marginal revenue/cost analyses to determineprice and output.c. Determine the short-run and long-run equilibrium.d. Identify the short-run market supply curve.e. Compare and contrast pricing and output between andamong the firms.f. Compare and contrast the demand curve and marginalrevenue curve.g. Compare and contrast allocative and technical (productive)efficiency among the firms.h. Compare and contrast product differentiation among thefirms.i. Compare and contrast the degree of price discriminationamong the firms.j. Compare and contrast the effects of government regulation to make it more efficient.Chief Reader NotesKnow and distinguish between allocative (p = mc) and productive (technological) efficiency (p = min ATC).Compare and contrast efficiencies of monopoly and competitive firms and understand when firms are operating efficiently. Identify profit-maximizing price and output.Explain why marginal revenue is less than price in a monopoly.Explain why marginal revenue curve lies below the demand curve Explain the difference between marginal revenue for competition and marginal revenue for a monopoly.Explain the different kinds of price regulation.Teaching Concepts/Lessons1. Making Short-Run Decisions2. Industry versus Firm3. Competition: Assumptionsa. Output and Price Ruleb. Profits: Short Run and Long Runc. Efficiency: Short Run and Long Run4. Monopoly: Assumptionsa. Output and Price Ruleb. Limitations of a Monopolistc. Efficiency: Short Run and Long Run. Compare/Contrastwith Competition Modeld. Monopoly Regulation: Average and Marginal Cost Pricing5. Oligopoly: Assumptionsa. Characteristics: Limited Market Power; Shared Demandb. Kinked Demand, Cournot, Prisoner's Dilemma; ContestableMarket6. Monopolistic Competition: Assumptionsa. Shared Demandb. Entry/Exiting and Long-Run Equilibriumc. Efficiency: Compared to Monopoly and CompetitionGraphsYou must be able to:1. Draw graphs and differentiate between a competitive firm anda competitive industry.2. Draw graphs and correctly label a competitive firm that makesexcessive profits, earns zero profits, and minimizes losses.3. Draw a sequence of graphs that shows a competitive firmmaking excessive profits (or minimizing its losses) with areturn to long-run equilibrium.4. Draw and label a monopoly firm that makes excessive profits(and minimization of losses).5. Draw a graph to illustrate the effects in output, price, andprofits if the demand increases (or decreases) in a monopolisticfirm.6. Illustrate graphically the problems of monopoly inefficiency(allocative and technical).7. Draw and label a monopolistic competitive firm and illustratelong-run equilibrium.Exhibitions of UnderstandingYou must complete the following:Gwartney, Chapters 19, 20, and 21Coursebook#19, The Firm Under Pure Competition#20, Monopoly and High Barriers to Entry#21, The Intermediate Cases: Monopolistic Competition and Oligopoly#22, Business Structure, Regulation, and Deregulation APE Exercises#32, An Introduction to Perfect Competition#34, Cost and Competitive Market Supply (Perfect Competition) #35, Short-Run and Long-Run Competitive Equilibrium #36, Graphing Perfect Competition#37, Marginal Revenue for an Imperfect Competitor#38, Pure Monopoly#39, Monopoly Pricing#41, Regulating Monopoly#43, A Quick Review of Perfect Competition and Monopoly#44, Monopolistic Competition#45, Supply, Demand, and Videotape#46, The Kinked Demand Curve of an Oligopolist 1996 AP Exam: Problem 11997 AP Exam: Problem 2Unit III: AP Content and AP Exam Expectations (2 weeks)III. Factor MarketsA. Derived factor demandB. Determination of wages and other factor prices[CR3]1991 AP Exam, minimum wage impact on competitive industry1994 AP Exam, entry of new workers into labor market and derived demand; a reduction in demand for product; use of minimum wage;and how minimum wage affects a typical firm1991 and 1994 AP Exams, explain relationship between MRC and MRP1995 AP Exam, how a price change in product affects MRP, wage rates, and quantity of workers1997 AP Exam, calculation of MRP; draw supply and demand curve for labor for a firm; determine number of workers to be hired, effects ofa change in the price of the commodity on the number of peoplehired; understanding of MRCPerformance ObjectivesYou must be able to:1. Explain the concept of derived demand.2. Calculate and explain the quantity of labor or a resource to behired/bought by a firm.3. Construct a short-run demand schedule for a resource.4. Calculate and explain the relative amounts or proportions a producershould acquire of two or more resources.5. Explain the relationship between MP and the demand for an input.6. Explain and apply the concept of least-cost combination of inputs tonovel data.7. Explain and apply the rule for finding least-cost combination.8. Explain how the marginal productivity theory of resource demandapplies to wage rate determination.9. Explain how the wage rate is determined.10. Calculate and determine wage rates in a competitive labor marketand in a monopolistic labor market.11. Explain the concept of bilateral monopoly.12. Explain the purpose of labor unions and their organization.13. Explain the effects of unions and specific union tactics on wages andemployment in both competitive and monopolistic markets.14. Evaluate the efficiency of specific legislation aimed at increasingwage rates and employment.15. Distinguish between pure economic rent and quasi rent.16. Distinguish between nominal and real interest rate.Chief Reader NotesExplain the effect of a product price change on marginal revenue product curve.Explain the reason for shift in demand for an input in response to a change in produce price.Explain the consequences of shift in the MRP curve on wage rate and level of employment.Explain that the demand for labor is the downward sloping of the marginal revenue product curve.Explain how a firm decides the level of inputs to hire or use in the productive process (MRC = MRP).Teaching Concepts/Lessons1. Factor Demanda. Derived Demand and Derivation of the MRPb. MRP = {MPP * Px (of good)}c. Impact of Changes in Demand (price of product) on MRP 2. The Supply of Labor and Wage Determination a. Supply Curve for Firm versus Industry3. Hiring Rule for Competitive and Monopsonistic Employer4. Labor Unions and Minimum Wage: Strategies and Impact on Wages and Employment [CR3]GraphsYou must be able to:1. Draw and illustrate a demand curve for labor.2. Draw and illustrate a supply curve for labor in a single competitive firm and a competitive market.3. Draw and illustrate an effective minimum wage.4. Draw and illustrate the supply and demand curve for labor in a monopsonistic market.5. Draw and illustrate the various effects of labor union negotiations on wages and employment in a monopsonistic industry. Exhibitions of UnderstandingYou must complete the following exercises: ? Gwartney, Chapters 21, 22, 24, and 26 ? Coursebook#23, The Supply and Demand for Productive Resources #24, Earnings, Productivity, and Job Market #26, Labor Unions and Collective Bargaining ? APE Exercises#49, Firm in the Middle#50, The Derived Demand for a Resource #51, How Many Workers Should Be Hired #52, The Only (Yo-Yo) Game in Town#53, Factor Market Pricing#54, What Is the Optimum Allocation of Resources#55, How Wages Are Determined in Competitive Labor Markets #56, How Wages Are Determined in Monopsonistic Labor Markets ?#57, The Effects of Unions on Wages and Employment in Competitive and Monopsonistic Labor Markets#59, The Determination of Interest Rates and Their Effect on Investment Decisions 1997 AP Exam: Problem 1 1995 AP Exam: Problem 1Unit IV: AP Content and AP Exam ExpectationsIV. E fficiency, Equity, and Role of GovernmentA. Market failures 1. Externalities 2. Public goods [CR4]B. Distribution of income1995 AP Exam, identification of an externality problem and how a sales tax on a good affects prices, quantity, after-tax revenues, and efficiency1997 AP Exam, use marginal analysis to regulate an industry that generates negative externalitiesPerformance ObjectivesYou must be able to:1. Define and explain the effects of price ceilings and price supports.2. Identify potential areas of market failures (externalities and spillovers).3. Define and explain public goods.4. Identify economic functions of government in a market economy.Chief Reader NoteDefine public goods that include nonrivalry and nonexcludability in consumption.Teaching Concepts/Lessons1. Public Goods: Nonrivalry and Nonexclusion2. Externalities and Spillovers3. Correcting for Externalities4. Distribution of Income: Lorenz Curve [CR4]GraphsYou must be able to:1. Illustrate the effects of externalities and spillovers on a supply/demand graph.2. Illustrate the effects of a government regulation on producers and/orconsumers.3. Illustrate price ceilings and floors.Exhibitions of UnderstandingYou must complete the following exercises:Gwartney, Chapters 29, 27, and 30#29, Problem Areas for the Market#27, Inequality, Income Mobility, and the Battle Against Poverty#30, Public Choice: Understanding Government and Government Failure APE Exercises#62, Private or Public Public Goods and Services#63, Private versus Public#64, Third-Party Cost and Benefits#65, Externalities Worksheet#67, Economic Efficiency and the Optimum Amount of Pollution Cleanup #69, Paying to Use a Scarce Resource#70, Public Choice Economics#73, Excise Taxes1995 AP Exam: Problem 2。
硕士学习的计划英语作文
硕士学习的计划英语作文IntroductionPursuing a master's degree is a significant step towards achieving my academic and career goals. It requires dedication, hard work, and commitment, but the rewards are endless. I am eager to embark on this new journey and make the most of this opportunity to expand my knowledge, develop my skills, and contribute to the field of my interest. In this study plan, I will outline my academic background, research interests, career aspirations, and how I plan to utilize the master's program to achieve my goals.Academic BackgroundI completed my undergraduate degree in Economics from a prestigious university, where I developed a strong foundation in economic theory, quantitative analysis, and research methods. Throughout my undergraduate studies, I maintained a high GPA and actively participated in various extracurricular activities, including research projects, internships, and academic conferences. These experiences have equipped me with the necessary skills and knowledge to pursue a master's degree in Economics and build upon my academic background.Research InterestsMy research interests primarily lie in the fields of development economics, public policy, and international trade. I am particularly fascinated by the impact of economic policies on developing countries, the role of institutions in economic development, and the effects of globalization on trade and investment. I am keen on exploring these topics in my master's program through empirical research, data analysis, and policy evaluation. I hope to contribute to the existing body of knowledge and address the pressing economic issues facing developing economies.Career AspirationsUpon completing my master's degree, I aspire to pursue a career in academia, research institutions, or international organizations. I am passionate about influencing economic policies, conducting research that has real-world implications, and teaching the next generation of economists. I aim to leverage my knowledge, skills, and expertise to make a positive impact on the global economy and contribute to sustainable development goals. Additionally, I am open to opportunities in the private sector, where I can apply my analytical skills and economic expertise to address business challenges and contribute to organizational growth.Master's Program ObjectivesThe master's program I have chosen is well-regarded for its rigorous curriculum, renowned faculty, and research opportunities. I have carefully selected courses that align with myresearch interests, including advanced microeconomics, econometrics, development economics, and trade policy. I plan to take advantage of the program's research seminars, workshops, and conferences to expand my knowledge, network with professionals in the field, and cultivate my research skills.In addition to coursework, I aim to collaborate with faculty members on research projects and undertake independent research that contributes to the field. I also plan to enroll in relevant workshops and training programs to enhance my quantitative skills, such as statistical software, data analysis, and experimental methods. By doing so, I will be well-prepared to conduct high-quality research and contribute to the academic and policy discussions in my area of interest.I also intend to pursue internships, fellowships, or research assistant positions during my master's program to gain practical experience and exposure to real-world economic challenges. These opportunities will provide me with valuable insights, networking connections, and hands-on experience that will complement my academic learning and prepare me for my future career.Moreover, I am committed to maintaining a high GPA, actively participating in academic discussions, and engaging in extracurricular activities that align with my career objectives. I aim to develop strong relationships with my professors, peers, and industry professionals to build a strong support network and mentorship opportunities that will facilitate my career growth and development.ConclusionIn conclusion, my master's study plan is rooted in my passion for economic research, policy analysis, and global development. I am enthusiastic about the opportunities that lie ahead and look forward to making the most of my master's program to acquire knowledge, develop skills, and contribute to the field. With careful planning, dedication, and perseverance, I am confident that I will achieve my academic and career goals and make a meaningful impact in the world of economics. I am committed to continuous learning, growth, and innovation, and I am eager to embark on this exciting journey towards my master's degree.。
微观经济学-英文课程描述
Outline of MicroeconomicsI. Course DescriptionMicroeconomics, the most important part of western economics, is the compulsory basic course of economic management and one of the core courses of economic major stipulated by national education. It plays an important role in the whole subject system. Microeconomics is also called individualeconomics and petty economics。
The research object is single economic unit such as single producer，single consumer and single market activity. It is to analysis that how does single producer make maximize profit through distributing the limited resource to various products，and how does single consumer make maximize satisfaction through distributing the limited income to various products。
At the same time，Microeconomics also analysis the output, cost, the factors of production,profit of single producer，income of factor supplier，quality, supply volume, demand volume and price of single goods。
芝加哥学派vs奥地利学派
加哥学派对奥地利学派4fun 2011-07-01ν 3126简介芝加哥学派和奥地利学派都是自由主义的信奉者，但两者在方法论、关于繁荣和萧条的解释以及法律都存在差别。
People often ask me, "How are the Austrians different from the Chicago School economists? Aren't you all free-market guys who oppose big-government Keynesians?"人们经常问我，为什么奥地利学派和芝加哥学派的经济学者差别这么大呢？你们不都是反对大政府凯恩斯主义的自由市场派吗？In the present article I'll outline some of the main differences. Although it's true that Austrians agree with Chicago economists on many policy issues, nevertheless their approach to economic science can be quite different. It's important to occasionally explain these differences, if only to rebut the common complaint that Austrian economics is simply a religion serving to justify libertarian policy conclusions.在本文中，我将列举出一些两者的不同之处，虽然事实上奥地利学派也同意芝加哥学派学者提出的许多政治主张，但是两者的经济学分析方法是很不一样的。
我们有必要常常去澄清这种区别，否则就难以还击那些认为“奥地利经济学派只是为了证明自由主义政策主张正确的教条主义”的观点。
平狄克微观经济学课件(英文)08
CHAPTER 8 OUTLINE 8.1 Perfectly Competitive Markets
Chapter 8: Profit Maximization and Competitive Supply
8.2 Profit Maximization 8.3 Marginal Revenue, Marginal Cost, and Profit Maximization 8.4 Choosing Output in the Short Run 8.5 The Competitive Firm’s Short-Run Supply Curve 8.6 The Short-Run Market Supply Curve 8.7 Choosing Output in the Long Run 8.8 The Industry’s Long-Run Supply Curve
Chapter 8: Profit Maximization and Competitive Supply
The assumption of profit maximization is frequently used in microeconomics because it predicts business behavior reasonably accurately and avoids unnecessary analytical complications. For smaller firms managed by their owners, profit is likely to dominate almost all decisions. In larger firms, however, managers who make day-to-day decisions usually have little contact with the owners (i.e. the stockholders). In any case, firms that do not come close to maximizing profit are not likely to survive. Firms that do survive in competitive industries make long-run profit maximization one of their highest priorities.
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Review Outline for Microeconomics
Please make sure to understand the following issues, but not by rote.
1.shifts in the demand curve: causes and outcomes.
2.how supply and demand together set the price of a good and the quantity sold.
3.the meaning of the elasticity of demand.
4.determinants of the price elasticity of demand.
5.elasticity and total revenue: relationship
6.the effects of government policies that place a ceiling on prices.
7.how a tax on a good affects the price of the good and the quantity sold.
8.how to define and measure consumer surplus/ producer surplus.
9.the meaning and causes of the deadweight loss from a tax.
10.the welfare effects of tariffs.
11.what an externality is.
12.what items are included in a firm’s costs of production.
13.the meaning of average total cost and marginal cost and how they are related.
14.the shape of a typical firm’s cost curves.
15.the relationship between short-run and long-run costs.
16.the characteristics of perfectly competition, monopoly, oligopoly or monopolistic competition
17.how competitive firms decide how much output to produce.
18.how competitive firms decide when to shut down production temporarily.
19.how competitive firms decide whether to exit or enter a market.
20.the long-run/short-run equilibrium of a competitive market.
21.how the monopoly’s decisions affect economic well-being (how about the deadweight loss).
22.how the outcomes under monopolistic competition and under perfect competition compare.
23.the prisoners’ dilemma.。