经济学

Economics
Economics (经济学) is the study of how society manages its scarce resources.
Economics
In
most societies, resources are allocated not by a single central planner but through the combined actions of millions of households and firms.
1. People face tradeoffs.
Efficiency vs. Equity
Efficiency
(效率) means society gets the most that it can from its scarce resources. Equity (公平) means the benefits of those resources are distributed fairly among the members of society.
Society and Scarce Resources:
The management of society’s resources is important because resources are scarce.
Scarcity
Scarcity (稀缺性) means that society has limited resources and therefore cannot produce all the goods and services people wish to have.

2. The cost of something is what you give up to get it.
The opportunity cost (机会成本) of an item is what you give up to obtain that item.
Interactive Quizzes
Leisure
time vs. Study Food vs. Clothing Guns vs. Butter Efficiency vs. Equity Making decisions requires trading off one goal against another.
Interactive Quizzes
The opportunity cost of going to college is (a) the total spent on food, clothing, books, transportation, tuition, lodging, and other expenses. (b) the value of the best opportunity a student gives up to attend college. (c) zero for students who are fortunate enough to have all of their college expenses paid by someone else. (d) zero, since a college education will allow a student to earn a larger income after graduation.
Chapter 1
Ten Principles of Economics
信息管理学院 姜 鑫EFra bibliotekonomics is a study of mankind in the ordinary business of life. ——Principles of Economics
Why should you study economics?
Economists study. . .
How
people make decisions. How people interact with each other. The forces and trends that affect the economy as a whole.
Ten Principles of Economics
Ten Principles of Economics
How People Interact
5. Trade can make everyone better off. 6. Markets are usually a good way to organize economic activity. 7. Governments can sometimes improve economic outcomes.
Interactive Quizzes
Daniel decides to spend the last two hours of the night before his economics exam studying instead of sleeping. For Daniel, his tradeoff would be (a) nothing, since no dollar value can be put on sleep. (b) nothing, since studying would be more beneficial than sleep. (c) the six hours of sleep he could have had if he had gone to bed before midnight. (d) the two hours of rest he would have gotten.
Economy
The word economy (经济) comes from the Greek word oikonomos for “one who manages a household.”
A household and a society face many decisions:
Who
Economics
will help you understand the world in which you live. Economics will make you a more astute participant in economy. Economics will give you a better understanding of the potential and limits of economic policy.
Ten Principles of Economics
How the Economy as a Whole Works
8. The standard of living depends on a country’s production. 9. Prices rise when the government prints too much money. 10. Society faces a short-run tradeoff between inflation and unemployment.
How People Make Decisions
1. People face tradeoffs. 2. The cost of something is what you give up to get it. 3. Rational people think at the margin. 4. People respond to incentives.
Which best represents the concept represented by the adage, “There is no such thing as a free lunch”? (a) Melissa can only attend the concert if she takes her sister with her. (b) Greg is hungry and homeless. (c) Brian must repair the tire on his bike before he can ride it to class. (d) Kendra must decide between going to Colorado or Cancun for spring break.
will work? What goods and how many of them should be produced? What resources should be used in production? At what price should the goods be sold?
Efficiency vs. Equity
Efficiency
？
Equity
2. The cost of something is what you give up to get it.
Making decisions require comparing costs and benefits of alternatives. Whether to go to college or to work? Whether to study or go out to see a film? Whether to go to class or sleep in?
Interactive Quizzes
Henry decides to spend two hours playing golf rather than working at his job which pays $8 per hour. Henry’s tradeoff is (a) the $16 he could have earned working for two hours. (b) nothing, because he enjoys playing golf more than working. (c) the increase in skill he obtains from playing golf for those two hours. (d) nothing, because he spent $16 for green fees to play golf.
1. People face tradeoffs.
“There is no such thing as a free lunch!”
1. People face tradeoffs.
To get one thing, we usually have to give up another thing.
Interactive Quizzes
Russell spends an hour studying instead of playing tennis. The opportunity cost to him of studying is (a) the improvement in his grades from studying for the hour. (b) the difference between the improvement in his grades from studying minus the enjoyment of playing tennis. (c) the enjoyment and exercise he would have received had he played tennis. (d) zero. Since Russell chose to study rather than to play tennis, the value of studying must have been greater than the value of playing tennis.