chapter_1Preliminaries(微观经济学-华侨大学,JeffCal

Modern Microeconomics includes:
Chapter 13 Game theory
Chapter 17 Markets with asymmetric information
Topics to be Discussed
The Themes of Microeconomics
What Is a Market? Real Versus Nominal Prices Why Study Microeconomics?
Definition of Economics
Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people.
Preliminaries
Microeconomics deals with:
Markets: The interaction of consumers and producers
Preliminaries
Macroeconomics deals with: Analysis of aggregate issues: Economic growth Inflation Unemployment
N.Gregory Mankiw
Preliminaries
Microeconomics deals with: Behavior of individual units When Consuming • How we choose what to buy
Preliminaries
Microeconomics deals with: Behavior of individual units When Producing • How we choose what to produce
Allocation decisions of
scarce resources are made mostly by supply and demand in markets.
The Themes of Microeconomics
Flexibility in allocating scarce resources and Optimal Tradeoffs 1. Consumer Theory 2. Workers 3. Theory of the Firm
Part 1 Introduction:Markets and
Prices Chapter 1-2
Chapter 1
Prel来自百度文库minaries
Traditional microeconomics for one-semester course
Chapter 1,2 3,4.14.4,6,7.1-7.4,8,9.19.3,10,11.111.3,12,14,15.1-15.4,18.118.2,18.5
P.A.Samuelson
Definition of microeconomics
Microeconomics is the study of how households and firms make decisions and how they interact in specific markets.
N.Gregory Mankiw
Definition of macroeconomics
Macroeconomics is the study of economy-wide phenomena,including inflation,unemployment, and economic growth.
A planned economy
Allocation decisions of
scarce resources are made mostly by the government(like
Cuba,North Korea,Former Soviet Union)
A market economy
The Themes of Microeconomics
Why Not? Limited Resources
Try to understand the phrase“scarce resources”in the following
Every gun that is made,every warship launched,every rocket fired signifies,in the final sense,a theft from those who hunger and are not fed.
Example of tradeoffs
Gun and Butter Efficiency and equity Risk and return Work and leisure
The Themes of Microeconomics
Microeconomics and Prices
President D.D.Eisenhower
The Themes of Microeconomics
Microeconomics Allocation of Scarce Resources and Trade-offs In a planned economy In a market economy
Preliminaries
The Linkage Between Micro and Macro-economics
Microeconomics is the foundation of macroeconomic analysis
The Themes of Microeconomics
According to Mick Jagger* & the Rolling Stones “You can’t always get what you want”