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(完整版)微观经济学(英文版)名词解释.doc

微观经济名词解释CHAPTER 1Scarcity : the limited nature of society ’ s resources.Economics : the study of how society manages its scarce resources.Efficiency : the property of society getting the most it can from its scarce resources.Equity : the property of distributing economic prosperity fairly among the members of society.Opportunity cost : whatever must be given up to obtain some item.Rational : systematically and purposefully doing the best you can to achieve your objectives.Marginal changes : small incremental adjustments to a plan of action.Incentive : something that induces a person to act.Market economy : an economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and services.Property rights : the ability of an individual to own and exercise control over scarce resources.Market failure : a situation in which a market left on its own fails to allocate resources efficiently.Externality : the impact of one person ’ s actions on the well-being of a bystander.Market power : the ability of a single economic actor (or small group of actors) to have a substantial influence on market prices.Productivity : the quantity of goods and services produced from each hour of a worker ’ s time. Inflation : an increase in the overall level of prices in the economy.Phillips curve : a curve that shows the short-run tradeoff between inflation and unemployment.Business cycle : fluctuations in economic activity, such as employment and production.CHAPTER 2Circular-flow diagram : a visual model of the economy that shows how dollars flow through markets among households and firms.Production possibilities frontier : a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology.Microeconomics: the study of how households and firms make decisions and how they interact in markets. Macroeconomics: the study of economy-wide phenomena, including inflation, unemployment, and economicgrowth.Positive statements Positive statements :claims that attempt to describe the world as it is. :claims that attempt to describe the world as it is.CHAPTER 4Quantity demanded : the amount of a good that buyers are willing and able to purchase.Law of demand : the claim that, other things equal, the quantity demanded of a good falls when the price of the good rises.Demand schedule : a table that shows the relationship between the price of a good and the quantity demanded. Demand curve : a graph of the relationship between the price of a good and the quantity demanded.Normal good : a good for which, other things equal, an increase in income leads to an increase in demand. Inferior good : a good for which, other things equal, an increase in income leads to a decrease in demand.Substitutes : two goods for which an increase in the price of one good leads to an increase in the demand for the other.Complements : two goods for which an increase in the price of one good leads to a decrease in the demand forthe other.quantity supplied : the amount of a good that sellers are willing and able to sell.Law of supply: the claim that, other things equal, the quantity supplied of a good rises when the price of thegood rises.Supply schedule : a table that shows the relationship between the price of a good and the quantity supplied.Supply curve : a graph of the relationship between the price of a good and the quantity supplied.Equilibrium : a situation in which the price has reached the level where quantity supplied equals quantity demanded.Equilibrium price: the price that balances quantity supplied and quantity demanded.Equilibrium quantit y : the quantity supplied and the quantity demanded at the equilibrium price.Surplus : a situation in which quantity supplied is greater than quantity demanded.Shortage : a situation in which quantity demanded is greater than quantity supplied.Law of supply and demand : the claim that the price of any good adjusts to bring the supply and demand for that good into balance.CHAPTER 5Elasticity a measure of the responsiveness of quantity demanded or quantity supplied to one of its determinants.Price elasticity of demand: a measure of how much the quantity demanded of a good responds to a change inthe price of that good, computed as the percentage change in quantity demanded divided by the percentage change in price.Total revenue : the amount paid by buyers and received by sellers of a good, computed as the price of the good times the quantity sold.Income lasticity of demand : a measure of how much the quantity demanded of a good responds to a changein consumers ’income, computed as the percentage change in quantity demanded divided by the percentage change in income.Crossprice elasticity of demand : a measure of how much the quantity demanded of one good responds to a change in the price of another good, computed as the percentage change in the quantity demanded of the first good divided by the percentage change in the price of the second good.Price elasticity of supply : a measure of how much the quantity supplied of a good responds to a change in the price of that good, computed as the percentage change in quantity supplied divided by the percentage changein price.CHAPTER 6Price ceiling : a legal maximum on the price at which a good can be sold.Price floor : a legal minimum on the price at which a good can be sold.Tax incidence: the manner in which the burden of a tax is shared among participants in a market.CHAPTER 7Welfare economics : the study of how the allocation of resources affects economic well-being.Willingness to pay : the maximum amount that a buyer will pay for a good.Consumer surplus : a buyer’ s willingness to pay minus the amount the buyer actually pays. Cost： the value of everything a seller must give up to produce a good.Producer surplus : the amount a seller is paid for a good minus the seller Eficiency : the property of a resource allocation of maximizing the total society.Euity :fairness of the distribution of well-being among the members of society.’ s cost. surplus received by all members ofCHAPTER 8Deadweight loss :the fall in total surplus that results from a market distortion, such as a tax. CHAPTER 10Externality : the uncompensated impact of one person Internalizing an externality : altering incentives so that’ s actions on-beingthe wellofabystander. people take account of the external effects of theiractions.Coase theorem : the proposition that if private parties can bargain without cost over the allocation of resources,they can solve the problem of externalities on their own.Transaction costs : the costs that parties incur in the process of agreeing and following through on a bargain.CHAPTER11Excludability: the property of a good whereby a person can be prevented from using it.Rivalry in consumption : the property of a good whereby one person’ s use diminishes other people’ s Private goods : goods that are both excludable and rival.Public goods : goods that are neither excludable nor rival.Common resources : goods that are rival but not excludable.Free rider : a person who receives the benefit of a good but avoids paying for it.Costbenefit analysis : a study that compares the costs and benefits to society of providing a public good. Tragedyof the commons : a parable that illustrates why common resources get used more than is desirable from thestandpoint of society as a whole.CHAPTER 13Total revenue : the amount a firm receives for the sale of its output.Total cost : the market value of the inputs a firm uses in production.profit : total revenue minus total cost.explicit costs : input costs that require an outlay of money by the firm.Implicit costs : input costs that do not require an outlay of money by the firm.Economic profit : total revenue minus total cost, including both explicit and implicit costs.Accounting profit : total revenue minus total explicit cost.Production function : the relationship between quantity of inputs used to make a good and the quantity of output ofthat good.Marginal product : the increase in output that arises from an additional unit of input.Diminishing marginal product : the property whereby the marginal product of an input declines as the quantityof the input increases.Fixed costs: costs that do not vary with the quantity of output produced.Variable costs : costs that do vary with the quantity of output produced.Average total cost : total cost divided by the quantity of output.Average fixed cost : fixed costs divided by the quantity of output.Average variable cost : variable costs divided by the quantity of output.Marginal cost : the increase in total cost that arises from an extra unit of production.Efficient scale : the quantity of output that minimizes average total cost.Economies of scale : the property whereby long-run average total cost falls as the quantity of output increases. Diseconomies of scale: the property whereby long-run average total cost rises as the quantity of output increases.Constant returns to scale : the property whereby long-run average total cost stays the same as the quantity of output changes.CHAPTER 14Competitive market : a market with many buyers and sellers trading identical products so that each buyer andseller is a price taker.Average revenue : total revenue divided by the quantity sold.Marginal revenue : the change in total revenue from an additional unit sold.Sunk cost: a cost that has been committed and cannot be recovered.CHAPTER 15Monopoly a firm that is the sole seller of a product without close substitutes.Natural monopoly : a monopoly that arises because a single firm can supply a good or service to an entire marketat a smaller cost than could two or more firms.Price discrimination : the business practice of selling the same good at different prices to different customers.CHAPTER 16Oligopoly : a market structure in which only a few sellers offer similar or identical products.Monopolistic competition : a market structure in which many firms sell products that are similar but not identical.Collusion : an agreement among firms in a market about quantities to produce or prices to charge.Carte : a group of firms acting in unison.Nash equilibrium : a situation in which economic actors interacting with one another each choose their best strategy given the strategies that all the other actors have chosen.Game theory : the study of how people behave in strategic situations.Prisoners ’dilemma : a particular "game" between two captured prisoners that illustrates why cooperation is difficult to maintain even when it is mutually beneficial.Dominant strategy : a strategy that is best for a player in a game regardless of the strategies chosen by the other players.CHAPTER 17Monopolistic competition : a market structure in which many firms sell products that are similar but not identical.。

(完整版)微观经济学中英文术语及其解释

Scarcity the limited nature of society’s resourcesEconomics the study of how society manages its scarce resourcesEfficiency the property of society getting the most it can from its scarce resourcesEquity the property of distributing economic prosperity fairly among the members of society Opportunity cost whatever must be given up to obtain some itemMarginal changes small incremental adjustments to a plan of actionMarket economy an economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and servicesMarket failure a s/tuition in which a market left on its own fails to allocate resources efficiently Externality the impact of one person’s actions on the well-being of a bystanderMarket power the ability of a single economic actor (or small group of actors) to have a substantial influence on market pricesProductivity the quantity of goods and services produced from each hour of a worker’s time Inflation an increase in the overall level of prices in the economyPhilips curve a curve that shows the short-run tradeoff between inflation and unemployment Business cycle fluctuations in economic activity，such as employment and produaionCircular-flow diagram a visual model of the economy that shows how dollars flow through markets among households and firmsProduction possibilities frontier a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technologyPositive statements claims that attempt to do describe the world as it isNormative statements claims that attempt to prescribe how the world should beAbsolute advantage the comparison among producers of a good according to their productivity Opportunity cost whatever must be given up to obtain some itemComparative advantage the comparison among producers of a good according to their opportunity costImports goods produced abroad and sold domesticallyExports goods produced domestically and sold abroadMarket a group of buyers and sellers of a particular good or serviceCompetitive market a market in which there are many buyers and many sellers so that each has a negligible impact on the market priceQuantity demanded the amount of a good that buyers are willing and able to-purchaseLaw of demand the claim that, other things equal, the quantity demanded of a good falls when the price of the good risesDemand schedule a table that shows the relationship between the price of a good and-the quantity demandedDemand curve a graph of the relationship between the price of a good and the quantity demanded Normal good a good for which, other things equal, an increase in income leads to an increase in demandInferior good a good for which, other things equal, an increase in income leads ‘to a decrease in demandSubstitutes two goods for which an increase in the price of one leads to an increase in the demand for the otherComplements two goods for which an increase in the price of one leads to a decrease in the demand for the otherQuantity supplied the amount of a good that sellers are willing and able to sellLaw of supply the claim that, other things equal, the quantity supplied of a good rises when the price of the good risesSupply schedule a table that shows the relationship between the price of a good and the quantity suppliedSupply curve a graph of the relationship between the price of a good and the quantity supplied Equilibrium a situation in which the price has reached the level where quantity supplied equals quantity demandedEquilibrium price the price that balances quantity supplied and quantity demandedEquilibrium quantity the quantity supplied and the quantity demanded at the equilibrium price Surplus a situation in which quantity supplied is greater than quantity demandedShortage a situation in which quantity demanded is greater than quantity suppliedLaws of supply and demand the claim that the price of any good adjusts to bring the quantity supplied and the quantity demanded for that good into balanceElasticity a measure of the responsiveness of quantity demanded or quantity supplied to one of its determinantsPrice elasticity of demand a measure of how much the quantity demanded of a good responds to a change in the price of that good, computed as the e percentage change in quantity demanded divided by the percentage change in priceIncome elasticity of demand a measure of how much the quantity demanded of a good responds to a change in consumers’ income, computed as the percentage change tn quantity demanded divided by the percentage change in incomeCross-price elasticity of demand a measure of how much the quantity demanded of one good respond to a change in the price of another good, computed as the percentage change m quantity demanded of the first good divided by the percentage change in the price of the second good Price elasticity of supply a measure of how much the quantity supplied of a good responds to a change in the price of that good, computed as the percentage change in quantity supplied divided by the percentage change in pricePrice ceiling a legal maximum on the price at which a good can be soldPrice floor a legal minimum on the price at which a good can be soldTax incidence the manner in which the burden of a tax is shared among participants in a market Welfare economics the study of how the allocation of resources affects economic well-being Willingness to pay the maximum amount that a buyer will pay for a goodConsumer surplus a buyer’s willingness to pay minus the amount the buyer actually paysCost the value of everything a seller must give up to produce a goodProducer surplus the amount a seller is paid for a good minus the seller’s costEfficiency the property of a resource allocation of maximizing the total surplus received by all members of societyEquity the fairness of the distribution of well-being among the members of societyDeadweight loss the fall in total surplus that results from a market distortion, such as a tax World price the price of a good that prevails in the world market for that goodTariff a tax on goods produced abroad and sold domesticallyImport quota a limit on the quantity of a good that can be produced abroad and sold domestically Externality the uncompensated impact of one person’s actions on the well-being of a bystander Internalizing an externality altering incentives so that people take account of the external effects of their actionsCoase theorem the proposition that if private parties can bargain without cost over the allocation of resources, they can solve the problem of externalities on their ownTransaction costs the costs that parties incur in the process of agreeing and following through on a bargainPigovian tax a tax enacted to correct the effects of a negative externalityExcludability the property of a good whereby a person can be prevented from using itRivalry the property of a good whereby one person’s use diminishes other people’s usePrivate goods goods that are both excludable and rivalPublic goods goods that are neither excludable nor rivalCommon resources goods that are rival but not excludableFree rider a person who receives the benefit of a good but avoids paying for itCost-benefit analysis a study that compares the costs and benefits to society of providing a public goodTragedy of the Commons a parable that illustrates why common resources get used more than is desirable from the standpoint of society as a wholeBudget surplus an excess of government receipts over government spendingBudget deficit an excess of government spending over government receiptsAverage tax rate total taxes paid divided by total incomeMarginal tax rate the extra taxes paid on an additional dollar of incomeLump-sum tax a tax that is the same amount for every personBenefits principle the idea that people should pay taxes based on the benefits they receive from government servicesAbility-to-pay principle the idea that taxes’ should be levied on a person according to how well that person can shoulder the burdenVertical equity the idea that taxpayers with a greater ability to pay taxes should pay larger amounts Horizontal equity the idea that taxpayers with similar abilities to pay taxes should pay the same amountProportional tax a tax for which high-income and low-income taxpayers pay the same fraction of incomeRegressive tax a tax for which high-income taxpayers pay a smaller fraction of their income than do low-income taxpayersProgressive tax a tax for which high-income taxpayers pay a larger fraction of their income than do low-income taxpayersTotal revenue the amount a firm receives for the sale of its outputTotal cost the market value of the inputs a firm uses in productionProfit total revenue minus total costExplicit costs input costs that require an outlay of money by the firmImplicit costs input costs that do not require an outlay of money by the firmEconomic profit total revenue minus total cost, including both explicit and implicit costs Accounting profit total revenue minus total explicit costProduction function the relationship between quantity of inputs used to make a good and the quantity of output of the goodMarginal product the increase in output that arises from an additional unit of inputDiminishing marginal product the property whereby the marginal product of an input declines as the quantity of the input increasesFixed costs costs that do not vary with the quantity of output producedVariable costs costs that do vary with the quantity of output producedAverage total cost total cost divided by the quantity of outputAverage fixed cost fixed costs divided by the quantity of outputAverage variable cost variable costs divided by the quantity of outputMarginal cost the increase in total cost that arises from an extra unit of productionEfficient scale the quantity of output that minimizes average total costEconomies of scale the property whereby long-run average total cost falls as the quantity of output increasesDiseconomies of scale the property whereby long-run average total cost rises as the quantity of output increasesConstant returns to scale the property whereby long-run average total cost stays the same as the quantity of output changesCompetitive market a market with many buyers and sellers trading identical products so that each buyer and setter is a price takerAverage revenue total revenue divided by the quantity soldMarginal revenue the change in total revenue from an additional unit soldSunk cost a cost that has already been committed and cannot be recoveredMonopoly a firm that is the sole seller of a product without close substitutesNatural monopoly a monopoly that arises because a single firm can supply a good or service to an entire market at a smaller cost than could two or more firmsPrice discrimination the business practice of selling the same good at different prices to different customersOligopoly a market structure in which only a few settlers offer similar or identical products Monopolistic competition a market structure in which many firms sell products that are similar but not identicalCollusion an agreement among firms in a market about quantities to produce or prices to charge Cartel a group of firms acting in unisonNash equilibrium a situation in which economic actors interacting with one another each choose their best strategy given the strategies that a/l the other actors have chosenGame theory the study of how people behave in strategic situationsPrisoners’ dilemma a particular “game’ between two captured prisoners that illustrates why cooperation is difficult to maintain even when it is mutually beneficialDominant strategy a strategy that is best for a player in a game regardless of the strategies chosen by the other playersMonopolistic competition a market structure in which many firms sell products that are similar but not identicalFactors of production the inputs used’ to produce goods and servicesProduction function the relationship between the quantity of inputs used to make a good and thequantity of output of that goodMarginal product of labor the increase in the amount of output from an additional unit of labor Diminishing marginal product the property whereby the marginal product of an input declines as the quantity of the input increasesValue of the marginal product the marginal product of an input times the price of the output Capital the equipment and structures used to produce goods and servicesCompensating differential a difference in wages that arises to offset the nonmonetary characteristics of different jobsHuman capital the accumulation of investments in people, such as education and on-the-job trainingUnion a worker association that bargains with employers over wages and working conditions Strike the organized withdrawal of labor from a firm by unionEfficiency wages above-equilibrium wages paid by firms in order to increase worker productivity Discrimination the offering of different opportunities to similar individuals who differ only by race, ethnic group, sex, age, or other personal characteristicsPoverty rate the percentage of the population whose family income falls below an absolute level called the poverty linePoverty line an absolute level of income set by the federal government for each family size below which a family is deemed to be in povertyIn-kind transfers transfers to the poor given in the form of goods and services-rather than cash Life cycle the regular pattern of income variation over a person’s lifePermanent income a person’s normal incomeUtilitarianism the political philosophy according to which the government should choose policies to maximize the total utility of everyone in societyUtility a measure of happiness or satisfactionLiberalism the political philosophy according to which the government should choose policies deemed to be just, as evaluated by an impartial observer behind a “veil of ignorance’’Maximin criterion the claim that the government should aim to maximize the well-being of the worst-off person in societyLibertarianism the political philosophy according to which the government should punish crimes and enforce voluntary agreements but not redistribute incomeWelfare government programs that supplement the incomes of the needyNegative income tax a tax system that collects revenue from high-income households and gives transfers to tow-income householdsBudget constraint the limit on the consumption bundles that a consumer can afford Indifference curve a curve that shows consumption bundles that give the consumer the same level of satisfactionMarginal rate of substitution the rate at which a consumer is willing to trade one good for another Perfect substitutes two goods with straight-line indifference curvesPerfect complements two goods with right-angle indifference curvesNormal good a good for which an increase in income raises the quantity demandedInferior good a good for which an increase in income reduces the quantity demandedIncome effect the change in consumption that results when a price change moves the consumer to a higher or lower indifference curveSubstitution effect the change in consumption that results when a price change moves indifference curve to a point with new marginal rate of substitutionGiffen good a good tor which an increase in the price raises the quantity demandedMoral hazard the tendency of a person who is imperfectly monitored to engage in dishonest or otherwise undesirable behaviorAgent a person who is performing an act for another person, called the principalPrincipal a person for whom another person, called the agent, is performing some actAdverse selection the tendency for the mix of unobserved attributes to become undesirable from the standpoint of an uninformed partySignaling an action taken by an informed party to reveal private information to an uninformed partyScreening an action taken by an uninformed party to induce an informed party to reveal informationCondorcet paradox the failure of majority rule to produce transitive preferences for society Arrow’s impossibility theorem a mathematical result showing that, under certain assumed conditions, there is no scheme for aggregating individual preferences into a valid set of social preferencesAbility-to-Pay principle (税收的)能力支付原则the idea that taxes should be levied on a person according to how well that person can shoulder the burdenAbsolute advantage绝对优势the comparison among producers of a good according to their productivityAccounting profit会计利润total revenue minus total explicit costAdverse selection逆向选择the tendency for the mix of unobserved attributes to become undesirable from the standpoint of an uninformed partyAgent代理人 a person who is performing an act for another person, called the principalArrow ’s impossibility theorem阿罗不可能定理a mathematical result showing that, under certain assumed conditions, there is no scheme for aggregating individual preferences into a valid set of social preferencesAverage fixed cost平均固定成本fixed costs divided by the quantity of outputAverage revenue平均收益total revenue divided by the quantity soldAverage tax rate平均税率total taxes paid divided by total incomeAverage total cost平均总成本total cost divided by the quantity of outputAverage variable cost平均可变成本variable costs divided by the quantity of outputBenefits principle受益原则the idea that people should pay taxes based on the benefits they receive from government servicesBudget constraint预算约束the limit on the consumption bundles that a consumer can afford Budget deficit预算赤字an excess of government spending over government receiptsBudget surplus预算盈余an excess of government receipts over government spending Business cycle经济周期fluctuations in economic activity, such as employment and production Capital资产the equipment and structures used to produce goods and servicesCartel卡特尔a group of firms acting in unisonCircular-flow diagram循环流向图 a visual model of the economy that shows how dollars flow through markets among households and firmsCoase theorem科斯定理the proposition that if private parties can bargain without cost overthe allocation of resources, they can solve the problem of externalities on their ownCollusion共谋an agreement among firms in a market about quantities to produce or prices to chargeCommon resources共源goods that are rival but not excludableComparative advantage比较优势the comparison among producers of a good according to their opportunity costCompensating differential补偿性工资差别 a difference in wages that arises to offset the nonmonetary characteristics of different jobsCompetitive market竞争性市场 a market with many buyers and sellers trading identical products so that each buyer and seller is a price takerComplements互补性商品two goods for which an increase in the price of one leads to a decrease in the demand for the otherCondorcet paradox孔多塞悖论（投票悖论）the failure of majority rule to produce transitive preferences for societyConstant returns to scale规模报酬不变the property whereby long-run average total cost stays the same as the quantity of output changesConsumer surplus消费者剩余 a buyer’s willingness to pay minus the amount the buyer actually paysCost成本the value of everything a seller must give up to produce a goodCost-benefit analysis成本收益分析 a study that compares the costs and benefits to society of providing a public goodCross-price elasticity of demand需求的交叉价格弹性 a measure of how much the quantity demanded of one good responds to a change in the price of another good, computed as the percentage change in quantity demanded of the first good divided by the percentage change in the price of the second goodDeadweight loss无谓损失the fall in total surplus that results from a market distortion, such as a taxDemand curve需求曲线 a graph of the relationship between the price of a good and the quantity demandedDemand schedule需求表 a table that shows the relationship between the price of a good and the quantity demandedDiminishing marginal product边际产品递减the property whereby the marginal product of an input declines．As the quantity of the input increasesDiscrimination歧视the offering of different opportunities to similar individuals who differ only by race, ethnic group, sex, age, or other personal characteristicsDiseconomies of scale规模不经济the property whereby long-run average total cost rises as the quantity of output increasesDominant strategy占优策略 a strategy that is best for a player in a game regardless of the strategies chosen by the other playersEconomic profit经济利润total revenue minus total cost, including both explicit and implicit costsEconomics经济学the study of how society manages its scarce resourcesEconomies of scale规模经济the property whereby long-run average total cost falls as the quantity of output increasesEfficiency效率the property of society getting the most it can from its scarce resources Efficiency wages效率工资above-equilibrium wages paid by firms in order to increase worker productivityEfficient scale有效规模the quantity of output that minimizes average total costElasticity弹性 a measure of the responsiveness of quantity demanded or quantity supplied to one of its determinantsEquilibrium均衡 a situation in which the price has reached the level where quantity supplied equals quantity demandedEquilibrium price均衡价格the price that balances quantity supplied and quantity demanded Equilibrium quantity均衡数量the quantity supplied and the quantity demanded at the equilibrium priceEquity平等the property of distributing economic prosperity fairly among the members of societyExcludability排他性the property of a good whereby a person can be prevented from using it Explicit costs显性成本input costs that require an outlay of money by the firmExports出口goods produced domestically and sold abroadExternality外部性the uncompensated impact of one person’s actions on the wellbeing of a bystanderFactors of production生产要素the inputs used to produce goods and servicesFixed casts固定成本costs that do not vary with the quantity of output producedFree rider免费搭车者 a person who receives the benefit of a good but avoids paying for it Game theory博弈论the study of how people behave in strategic situationsGiffen good吉芬商品 a good for which an increase in the price raises the quantity demanded Horizontal equity横向公平the idea that taxpayers with similar abilities to pay taxes should pay the same amountHuman capital人力资本the accumulation of investments in people, such as education andon-the-job trainingImplicit costs隐性成本input costs that do not require an outlay of money by the firmImport quota进口配额 a limit on the quantity of a good that can be produced abroad and sold domesticallyImports进口goods produced abroad and sold domesticallyIncome effect收入效应the change in consumption that results when a price change moves the consumer to a higher or lower indifference curveIncome elasticity of demand需求的收入弹性 a measure of how much the quantity demanded of a good responds to a change in consumers’ income, computed as the percentage change in quantity demanded divided by the percentage change in incomeIndifference curve无差异曲线 a curve that shows consumption bundles that give the consumer the same level of satisfactionInferior good低档物品 a good for which, other things equal, an increase in income leads to a decrease in demandInflation通货膨胀an increase in the overall level of prices in the economyIn-kind transfers实物转移支付transfers to the poor given in the form of goods and services rather than cashInternalizing an externality外部性的内在化altering incentives so that people take account ofthe external effects of their actionsLaw of demand需求定理the claim that, other things equal, the quantity demanded of a good falls when the price of the good risesLaw of supply and demand需求与供给定理the claim that the price of any good adjusts to bring the quantity supplied and the quantity demanded for that good into balanceLiberalism自由主义the political philosophy according to which the government should choose policies deemed to be just, as evaluated by an impartial observer behind a “veil of ignorance”Libertarianism自由至上主义the political philosophy according to which the government should punish crimes and enforce voluntary agreements but not redistribute incomeLife cycle生命周期the regular pattern of income variation over a person’s lifeLump-sum tax定额税 a tax that is the same amount for every personMacroeconomics宏观经济学the study of economy-wide phenomena, including inflation, unemployment, and economic growthMarginal changes边际变动small incremental adjustments to a plan of actionMarginal cost边际成本the increase in total cost that arises from an extra unit of production Marginal product边际产品the increase in output that arises from an additional unit of input Marginal product of labor劳动的边际产品the increase in the amount of output from an additional unit of laborMarginal rate of substitution边际替代率the rate at which a consumer is willing to trade one good for anotherMarginal revenue边际收益the change in total revenue from an additional unit soldMarginal tax rate边际税率the extra taxes paid on an additional dollar of incomeMarket市场 a group of buyers and sellers of a particular good or serviceMarket economy市场经济an economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and services Market failure市场失灵 a situation in which a market left on its own fails to allocate resources efficientlyMarket power市场势力the ability of a single economic actor (or small group of actors) to have a substantial influence on market pricesMaximin criterion极大极小准则the claim that the government should aim to maximize the well-being of the worst-off person in societyMedian voter theorem中位选举人定理 a mathematical result showing that if voters are choosing a point along a line and each voter wants the point closest to his most preferred point, then majority rule will pick the most preferred point of the median voterMicroeconomics微观经济学the study of how households and firms make decisions and how they interact in marketsMonopolistic competition垄断竞争 a market structure in which many firms sell products that are similar but not identicalMonopoly垄断 a firm that is the sole seller of a product without close substitutesMoral hazard道德风险the tendency of a person who is imperfectly monitored to engage in dishonest or otherwise undesirable behaviorNash equilibrium纳什均衡 a situation in which economic actors interacting with one another each choose their best strategy given the strategies that all the other actors have chosenNatural monopoly自然垄断 a monopoly that arises because a single firm can supply a good or service to an entire market at a smaller cost than could two or more firmsNegative income tax负所得税 a tax system that collects revenue from high-income households and gives transfers to low-income householdsNormal good正常商品 a good for which, other things equal, an increase in income leads to an increase in demandNormative statements规范性表述claims that attempt to prescribe how the world should be Oligopoly寡头 a market structure in which only a few sellers offer similar or identical productsOpportunity cost机会成本whatever must be given up to obtain some itemPerfect complements完全互补品two goods with right-angle indifference curvesPerfect substitutes完全替代品two goods with straight-line indifference curvesPermanent income持久性收入 a person’s normal incomePhillips curve菲利普斯曲线 a curve that shows the short-run tradeoff between inflation and unemploymentPigovian tax庇古税 a tax enacted to correct the effects of a negative externalityPositive statements实证表述claims that attempt to describe the world as it isPoverty line贫困线an absolute level of income set by the federal government for each family size below which a family is deemed to be in povertyPoverty rate贫困率the percentage of the population whose family income falls below an absolute level called the ‘poverty linePrice ceiling价格天花板（上限） a legal maximum on the price at which a good can be sold Price discrimination价格歧视the business practice of selling the same good at different prices to different customersPrice elasticity of demand需求的价格弹性 a measure of how much the quantity demanded of a good responds to a change in the price of that good, computed as the percentage change in quantity demanded divided by the percentage change in pricePrice elasticity supply供给的价格弹性 a measure of how much the quantity supplied of a good responds to a change in the price of that good, computed as the percentage change in quantity supplied divided by the percentage change in pricePrice floor价格地板I下限） a legal minimum on the price at which a good can be sold Principal委托人 a person for whom another person, called the agent, is performing some act Prisoners’ dilemma囚徒困境 a particular “game” between two captured prisoners that illustrates why cooperation is difficult to maintain even when it is mutually beneficialPrivate goods私人物品goods that are both excludable and rivalProducer surplus生产者剩余the amount a seller is paid for a good minus the seller’s cost Production function生产函数the relationship between quantity of inputs used to make a good and the quantity of output of that goodProduction possibilities frontier生产可能性曲线 a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technologyProductivity生产率the quantity of goods and services produced from each hour of a worker’s timeProfit利润total revenue minus total cost。

经济英语知识点总结

经济英语知识点总结一、经济学基础知识1. Microeconomics（微观经济学）Microeconomics focuses on the interactions between individual buyers and sellers and the factors that influence their decisions. It examines how individuals and businesses make choices regarding the allocation of resources, production, and consumption. Key concepts in microeconomics include supply and demand, elasticity, market structures, and externalities.（微观经济学侧重研究个体买卖双方之间的互动以及影响他们决策的因素。

它研究个人和企业如何在资源分配、生产和消费方面做出选择。

微观经济学的关键概念包括供求关系、弹性、市场结构和外部性。

）2. Macroeconomics（宏观经济学）Macroeconomics looks at the overall performance of a national or global economy and the factors that influence it. It examines the behavior of major economic aggregates such as GDP, unemployment, inflation, and national income. Key concepts in macroeconomics include monetary and fiscal policy, economic growth, and international trade.（宏观经济学研究国家或全球经济的总体表现以及影响它的因素。

微观经济学英文版PPT课件

Or, the opportunity cost that use a certain resource is the highest price of abandoning other uses of this resource
10
2.2 the definition of microeconomics
The starting point of economics searching The definition of Microeconomics People how to make decision Why need to bargain Why need to build market economics
Economics is a study, learning selection of scarce resources with different uses; The goal is effective allocation of scarce resources to produce goods and services, and in the present or future, let them reasonable allocated to social members or group for consumption.
8
Production possibilities curve
PPC is a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology.

西方经济学词汇(中英文对照)

1.Microeconomics 微观经济学2.Macroeconomics 宏观经济学3.Primary sector 第一产业4.Secondary sector 第二产业5.Tertiary sector 第三产业6.Opportunity cost 机会成本7.Scarcity 稀缺8.Production possibility frontier 生产可能性边界9.Production possibility curve 生产可能性曲线10.Factors of production 生产要素11.Demand 需求12.Demand curve 需求曲线13.Supply 供给14.Supply curve 供给曲线15.Marginal utility边际效用16.Total utility总效用17.Elasticity 弹性18.Price elasticity of demand 需求的价格弹性19.Cross elasticity of demand 需求的交叉弹性20.Income elasticity of demand 需求的收入弹性21.Equilibrium 均衡22.Equilibrium price 均衡价格23.Short run短期24.Long run长期25.Consumer surplus消费者剩余26.Producer surplus生产者剩余27.Externalities外部性28.negative externalities 负的外部性29.positive externalities 正的外部性30.the law of diminishing marginal utility 边际效用递减规律31.budget line 预算线32.Marginal 边际33.Marginal cost 边际成本34.Marginal revenue边际收益35.Merit goods 有益品36.Demerit goods 有害品37.public goods公共品38.quasi-public goods 准公共品39.private goods 私有品40.moral hazard 道德危险41.adverse selection 逆向选择42.Average 平均43.Average product 平均产量44.fixed costs 固定成本45.variable costs 可变成本46.average costs 平均成本47.diseconomy of scale规模不经济48.specialization 专业化49.Cost minimization 成本最小化50.Input投入51.Normal profit正常利润52.Abnormal profit超额利润53.Productive efficiency 生产效率54.Perfect competition完全竞争55.Monopoly垄断56.barrier to entry 进入障碍57.Product differentiation差异产品58.Monopolistic competition 垄断竞争59.Price discrimination 价格歧视60.oligopoly 寡头61.Duopoly双寡头62.Nash equilibrium纳什均衡63.Game theory 博弈论64.Marginal product of labour 劳动的边际产量65.Demand for labour 对劳动力的需求66.Aggregate demand 总需求67.Marginal cost of labour 劳动的边际成本68.Elasticity of demand for labor 劳动力的需求弹性69.Paradox of thrift 节约悖论70.Price level 价格水平71.Trade unions 行会，商会72.Perfectly competitive labour market 完全竞争劳动力市场73.Transfer earnings 转让收益74.Gross Domestic Product 国内生产总值75.Gross National Product 国民生产总值76.money GDP 名义GDP77.real GDP 实际GDP78.Aggregate supply 总供给79.nominal value 名义价值80.real value 实际价值81.Injections 注入82.Withdrawals 漏出83.Consumption 消费84.budget deficit 预算赤字85.budget surplus 预算盈余86.balanced budget 均衡预算87.Keynesians 凯恩斯主义学派88.Monetarists 货币主义学派89.Savings 储蓄90.average propensity to consume 平均消费倾向91.average propensity to save 平均储蓄倾向92.marginal propensity to consume 边际消费倾向93.marginal propensity to save 边际储蓄倾向94.Investment 投资ernment spending 政府支出96.export 出口97.import 进口98.Accelerator 加速器99.Interest 利息率100.The multiplier乘数101.Full employments完全就业102.balance of payments 国际收支平衡表103.deficit赤字104.surplus 盈余105.Demand side policies 需求方面政策106.Supply side policies 供给方面政策107.Reflationary policies 再膨胀政策108.Deflationary policies 通货紧缩政策109.inflation 通货膨胀110.deflation 通货紧缩111.Inflationary gap通货膨胀缺口112.Deflationary gap通货紧缩缺口113.Automatic stabilizer自动稳定器114.Expansionary police扩张政策115.Contractionary policy紧缩政策116.Keynesian fiscal policy凯恩斯财政政策117.fiscal policy 财政政策118.monetary policy 货币政策119.exchange policy 汇率政策120.liquidity trap 流动性陷进121.transaction motive 交易动机122.precautionary motive 预防动机123.speculative motive 投机动机124.cost-push inflation 成本推动型的通货膨胀125.retail price index 零售价格指数126.redistribution of income 收入再分配127.new classical 新古典主义128.absolute advantage 绝对优势parative advantage相对优势130.free trade自由贸易131.economies of scale规模经济132.quotas 配额133.exchange controls外汇管制134.infant industry 幼稚工业135.Tariff关税136.free trade area自由贸易区137.custom union关税同盟138.economic union 经济同盟139.dumping倾销140.Trade creation贸易创造141.trade diversion 贸易转移欢迎您的下载，资料仅供参考！致力为企业和个人提供合同协议，策划案计划书，学习资料等等打造全网一站式需求。

经济学中的英文词缩写

微观经济学术语的英文及缩写第一章导论理性人（Rational man）微观经济学（Microeconomics）、微观经济学（Macroeconomics）消费者(Consumer)生产者(Producer)企业(Enterprise企（事）业单位；establishment企业；business商业；company公司/商号corporation) 厂商（Firm/Manufacturer）第二章需求、供给和价格需求（d emand）缩写D供给（Supply) 缩写S弹性（elasticity）缩写 E 或 eE简称价格弹性需求的价格弹性（price elasticity of demand ）E d或e d 或Pd需求的收入弹性（Income elasticity of demand ）E M或e m需求的交叉弹性（Cross-price elasticity of demand)）E XY或e xyE简称供给弹性供给价格弹性(Price elasticity of supply)E S或e s 或Ps均衡价格(Equilibrium price)(均衡数量(equilibrium quantity;balance quantity;balanced quantity)第三章效用论基数效用论(Cardinal utility)序数效用论：(Ordinal utility总效用（T otal utility）缩写TU边际效用（Marginal utility）缩写MU无差异曲线(Indifference curve) 缩写I商品之间的边际替代率（marginal rate of substitution) 缩写MRS12第四章生产论厂商（Firm）交易成本（transaction cost)生产要素(Factors of Production)劳动（labour）缩写L资本（capital ）缩写k土地（Iand）指一切自然资源（Natural resources）缩写N企业家才能(Entrepreneurship ) 缩写 EC-D生产函数 ( Cobb- Douglas production function)短期（short-run）、长期（long-run）总产量(Total Product ) 缩写TP或Q 劳动的总产量TP L平均产量（Average Product ）缩写AP 劳动的平均产量AP L边际产量/产品（Marginal Product）缩写MP 劳动的边际产量MP LMRTS边际技术替代率（Marginal rate of technical substitution ）缩写LK规模报酬，也叫规模收益（return of scale ）分increasing returns of scale、constant returns of scale、decreasing returns of scale等成本线（Isocost line）等产量线（Isoquant line）第五章成本论成本(cost) 缩写 C费用(expense）机会成本（Opportunity cost）显成本（Explicit cost）隐成本（Implicit cost）正常利润（Normal profit)超额利润(Excess profit)或叫经济利润(Econormic profit）经常用π表示、利润最大化（profit maximization）利润最大化原则(principle of profit maximization)短期总成本（Short-run total cost）缩写STC 或TC总固定成本（T otal fixed cost）缩写TFC 或FC总变动成本（T otal variable cos t）缩写TVC 或VC平均固定成本（Average fixed cost ) 缩写AFC平均可变成本（Average variable cost ) AVC短期平均成本（Short-run average cost) SAC 或AC短期边际成本（Short-run marginal cos t) SMC 或MC长期总成本（Long-run total cost）LTC 或TC长期平均成本（Long-run average cos t) LAC 或AC长期边际成本（Long-run marginal cost) LMC 或MC规模经济（Economies of scale）、规模不经济（Diseconomies of scale）外在经济（The external economy）、外在不经济（External diseconomy）收益（Revenue）R总收益( total revenue；gross earnings；gross income) TR平均收益（average revenue）AR边际收益（marginal income ）MR第六章完全竞争市场市场结构（Market structure)完全竞争市场（perfect competition market）长期供给线(Long-run supply curve) LS消费者剩余（C onsumer’s surplus）CS生产者剩余(P roducer’s surplus) PS (Producer surplus)看不见手的原理（Invisible hand theorem）第七章不完全竞争市场（Imperfect competition market）完全垄断市场(Complete monopoly market (Monopoly)：卖方垄断（Monopoly）/买方（Monopsony）垄断竞争（Monopolistic Competition ）/垄断竞争市场（Monopolistic Competition Market）寡头垄断（Oligopsony）/寡头垄断市场（Oligopsony market）价格歧视(Price discrimination)一级价格歧视(First-degree price discrimination)二级价格歧视(Second- degree price discrimination)三级价格歧视(Third－degree price discrimination)博弈论（Game theory）纳什均衡(Nash equilibrium)囚犯困境(prisoners’ dilemma)第八章生产要素边际收益产品（Marginal Revenue Product）MRP边际产品价值(Value of marginal product) VMP边际要素成本（Marginal Factor Cost）MFC工资( Wage) w 最低工资minimum wage实际工资（Real wages）\名义工资（Normal wages）地租/ 租金（rent) R利息(Interest) 、利率（Interest rate）缩写r实际利率（Real Interest rate）、名义利率（Normal Interest rate）洛伦慈曲线（Lorenz curve）基尼系数( Gink coefficient ) 缩写G第十章一般均衡和福利经济学（这一章不用看）埃奇沃思盒（Edgeworth’s Box）帕累托最优(Pareto-optimality) 帕累托最优状态帕累托效率（Pareto efficiency）、帕累托改进（Pareto improvement）福利经济学(welfare economics)福利经济学第一定律（First Fundamental Theorem of Welfare Economics）福利经济学第二定律（Second Fundamental Theorem of Welfare Economics）边际生产转换率（the marginal rateof product transformation）MRTS XY边际转换率（marginal rate of transformation）MTS XY =MRTS XY =ΔY/ΔX第十一章微观经济政策市场失灵（market failure)外部影响(External effects) 、外部效应Externalities外部经济（external economies ）、外部不经济（external diseconomies）私人成本(private cost；personal cost)、社会成本（social cost）科斯定理（Kos's theorem）the Coase theorem (科斯定理)共有财产（community of goods；joint property）私人物品(private goodst)、公共物品(Public goods)搭便车(Free ride / Free-Riding)或thumb a lift [or ride]；hitchhike；pick up; hitch a ride)搭便车者pick up a hitch-hiker竞争性(Competitive)、非竞争性non-competitive/ non-rival排他性(Exclusive)、非排他性non-exclusive /nonexcludable公共选择(Public choice)完全信息(C omplete information)、不完全信息(Imperfect information;incomplete information)不对称信息(Asymmetric Information)逆向选择（Adverse Selection）道德风险(Moral hazard)次品市场(lemon market) ：柠檬市场（lemon market），lemon market problem也叫asymmetric informationproblem (信息不对称问题)次品（substandard [shoddy] products;substandard）。

微观经济学英文版

Chapter 1: The Fundamentals of Economics（A. Introduction）
1.1 Scarcity and Efficiency
What is economics ?
Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people.
Microeconomics
Yan YAN
Chapter 1: The Fundamentals of Economics（A. Introduction）
You want to buy a clock in the grocery near the campus. The price is $20. A friend tells you that it is $10 in the supermarket in downtown. Would you buy the clock in the supermarket？
1) plot the straight-line relationship between all combinations of X and Y on a blank piece of graph paper.
2)let us say that you absolutely need 6 hours of leisure per day, no more, no less. On the graph, mark the point that corresponds to 6hours of leisure.

(完整版)微观经济学(英文版)名词解释

微观经济名词解释CHAPTER 1Scarcity : the limited nature of society’s resources.Economics : the study of how society manages its scarce resources.Efficiency : the property of society getting the most it can from its scarce resources.Equity : the property of distributing economic prosperity fairly among the members of society.Opportunity cost : whatever must be given up to obtain some item.Rational : systematically and purposefully doing the best you can to achieve your objectives.Marginal changes : small incremental adjustments to a plan of action.Incentive : something that induces a person to act.Market economy : an economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and services.Property rights : the ability of an individual to own and exercise control over scarce resources.Market failure : a situation in which a market left on its own fails to allocate resources efficiently.Externality : the impact of one person’s actions on the well-being of a bystander.Market power : the ability of a single economic actor (or small group of actors) to have a substantial influence on market prices.Productivity : the quantity of goods and services produced from each hour of a worker’s time.Inflation : an increase in the overall level of prices in the economy.Phillips curve : a curve that shows the short-run tradeoff between inflation and unemployment.Business cycle : fluctuations in economic activity, such as employment and production.CHAPTER 2Circular-flow diagram : a visual model of the economy that shows how dollars flow through markets among households and firms.Production possibilities frontier : a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology.Microeconomics : the study of how households and firms make decisions and how they interact in markets. Macroeconomics : the study of economy-wide phenomena, including inflation, unemployment, and economic growth.Positive statements: claims that attempt to describe the world as it is.Positive statements: claims that attempt to describe the world as it is.CHAPTER 4Quantity demanded: the amount of a good that buyers are willing and able to purchase.Law of demand: the claim that, other things equal, the quantity demanded of a good falls when the price of the good rises.Demand schedule: a table that shows the relationship between the price of a good and the quantity demanded. Demand curve : a graph of the relationship between the price of a good and the quantity demanded.Normal good : a good for which, other things equal, an increase in income leads to an increase in demand. Inferior good : a good for which, other things equal, an increase in income leads to a decrease in demand.Substitutes : two goods for which an increase in the price of one good leads to an increase in the demand for the other.Complements : two goods for which an increase in the price of one good leads to a decrease in the demand for the other.quantity supplied : the amount of a good that sellers are willing and able to sell.Law of supply : the claim that, other things equal, the quantity supplied of a good rises when the price of the good rises.Supply schedule: a table that shows the relationship between the price of a good and the quantity supplied. Supply curve: a graph of the relationship between the price of a good and the quantity supplied.Equilibrium : a situation in which the price has reached the level where quantity supplied equals quantity demanded.Equilibrium price : the price that balances quantity supplied and quantity demanded.Equilibrium quantit y : the quantity supplied and the quantity demanded at the equilibrium price.Surplus : a situation in which quantity supplied is greater than quantity demanded.Shortage : a situation in which quantity demanded is greater than quantity supplied.Law of supply and demand : the claim that the price of any good adjusts to bring the supply and demand for that good into balance.CHAPTER 5Elasticity a measure of the responsiveness of quantity demanded or quantity supplied to one of its determinants.Price elasticity of demand: a measure of how much the quantity demanded of a good responds to a change in the price of that good, computed as the percentage change in quantity demanded divided by the percentage change in price.Total revenue: the amount paid by buyers and received by sellers of a good, computed as the price of the good times the quantity sold.Income lasticity of demand: a measure of how much the quantity demanded of a good responds to a change in consumers’ income, computed as the percentage change in quantity demanded divided by the percentage change in income.Crossprice elasticity of demand: a measure of how much the quantity demanded of one good responds to a change in the price of another good, computed as the percentage change in the quantity demanded of the first good divided by the percentage change in the price of the second good.Price elasticity of supply: a measure of how much the quantity supplied of a good responds to a change in the price of that good, computed as the percentage change in quantity supplied divided by the percentage change in price.CHAPTER 6Price ceiling: a legal maximum on the price at which a good can be sold.Price floor: a legal minimum on the price at which a good can be sold.Tax incidence: the manner in which the burden of a tax is shared among participants in a market.CHAPTER 7Welfare economics: the study of how the allocation of resources affects economic well-being.Willingness to pay: the maximum amount that a buyer will pay for a good.Consumer surplus: a buyer’s willingness to pay minus the amount the buyer actually pays.Cost：the value of everything a seller must give up to produce a good.Producer surplus: the amount a seller is paid for a good minus the seller’s cost.Eficiency: the property of a resource allocation of maximizing the total surplus received by all members of society.Euity :fairness of the distribution of well-being among the members of society.CHAPTER 8Deadweight loss: the fall in total surplus that results from a market distortion, such as a tax.CHAPTER 10Externality :the uncompensated impact of one person’s actions on the well-being of a bystander. Internalizing an externality: altering incentives so that people take account of the external effects of their actions.Coase theorem: the proposition that if private parties can bargain without cost over the allocation of resources, they can solve the problem of externalities on their own.Transaction costs: the costs that parties incur in the process of agreeing and following through on a bargain.CHAPTER11Excludability:the property of a good whereby a person can be prevented from using it.Rivalry in consumption: the property of a good whereby one person’s use diminishes other people’s use. Private goods: goods that are both excludable and rival.Public goods :goods that are neither excludable nor rival.Common resources: goods that are rival but not excludable.Free rider: a person who receives the benefit of a good but avoids paying for it.Costbenefit analysis: a study that compares the costs and benefits to society of providing a public good. Tragedy of the commons: a parable that illustrates why common resources get used more than is desirable from the standpoint of society as a whole.CHAPTER 13Total revenue: the amount a firm receives for the sale of its output.Total cost: the market value of the inputs a firm uses in production.profit :total revenue minus total cost.explicit costs: input costs that require an outlay of money by the firm.Implicit costs: input costs that do not require an outlay of money by the firm.Economic profit: total revenue minus total cost, including both explicit and implicit costs.Accounting profit: total revenue minus total explicit cost.Production function: the relationship between quantity of inputs used to make a good and the quantity of output of that good.Marginal product: the increase in output that arises from an additional unit of input.Diminishing marginal product: the property whereby the marginal product of an input declines as the quantity of the input increases.Fixed costs: costs that do not vary with the quantity of output produced.Variable costs: costs that do vary with the quantity of output produced.Average total cost: total cost divided by the quantity of output.Average fixed cost: fixed costs divided by the quantity of output.Average variable cost: variable costs divided by the quantity of output.Marginal cost: the increase in total cost that arises from an extra unit of production.Efficient scale: the quantity of output that minimizes average total cost.Economies of scale: the property whereby long-run average total cost falls as the quantity of output increases. Diseconomies of scale: the property whereby long-run average total cost rises as the quantity of output increases.Constant returns to scale: the property whereby long-run average total cost stays the same as the quantity of output changes.CHAPTER 14Competitive market: a market with many buyers and sellers trading identical products so that each buyer and seller is a price taker.Average revenue: total revenue divided by the quantity sold.Marginal revenue: the change in total revenue from an additional unit sold.Sunk cost: a cost that has been committed and cannot be recovered.CHAPTER 15Monopoly a firm that is the sole seller of a product without close substitutes.Natural monopoly: a monopoly that arises because a single firm can supply a good or service to an entire market at a smaller cost than could two or more firms.Price discrimination: the business practice of selling the same good at different prices to different customers.CHAPTER 16Oligopoly :a market structure in which only a few sellers offer similar or identical products.Monopolistic competition: a market structure in which many firms sell products that are similar but not identical.Collusion :an agreement among firms in a market about quantities to produce or prices to charge.Carte : a group of firms acting in unison.Nash equilibrium: a situation in which economic actors interacting with one another each choose their best strategy given the strategies that all the other actors have chosen.Game theory: the study of how people behave in strategic situations.Prisoners’dilemma: a particular "game" between two captured prisoners that illustrates why cooperation is difficult to maintain even when it is mutually beneficial.Dominant strategy: a strategy that is best for a player in a game regardless of the strategies chosen by the other players.CHAPTER 17Monopolistic competition: a market structure in which many firms sell products that are similar but not identical.。

微观经济学理论部分英文词汇

adj. 基本的；初级的；[化学] 元素的
46, sequences
n. [数][计] 序列，顺序；继起的事（sequence的复数形式）
Sequences: 序列 | 图形逻辑 | 数列
47, semester [sɪ'mestə]
n. 学期；半年
48, relatively ['relətɪvlɪ]
Reunited: 重遇 | 重聚 | 团聚
9, proofs [pru:fs]
n. 证明；证据（proof的复数）；校稿
10, proceeds ['prəʊsiːdz]
n. 收入，收益；实收款项
11, extension [ɪk'stenʃ(ə)n; ek-]
n. 延长；延期；扩大；伸展；电话分机
n. 筛选；放映；[物] 屏蔽；审查；防波
v. 筛选；拍摄（screen的ing形式）；遮蔽；隔挡
Screening: 场次 | 筛选 | 筛查
56, mechanism design
机制设计（微观经济学和博弈论的分支领域）；机构设计（学科名称）；机械设计
57, altered ['ɔːltəd]
27, Fixed Point Theorems
Fixed Point Theorems: 不动点定理
28, coverage ['kʌv(ə)rɪdʒ]
n. 覆盖，覆盖范围
coverage: 新闻报道 | 覆盖面 | 保险范围
29, instructors
n. 教练；讲师；指导书（instructor的复数）
adj. 人际的；人与人之间的

微观经济学常用词汇(中英文对照)

微观经济学词汇AAbsolute Advantage，绝对优势如果某个国家在生产某种商品时，其消耗的资源比其他国家所需的少，那么这个国家就在生产这种产品上具有绝对优势。

Accelerator Effect，加速效应由产出的增加（减少）引起的投资的增加（减少）反过来刺激了产出的增加（减少）。

Actual Investment，实际投资实际发生的投资额。

其中包括诸如计划外的库存变化。

Adjustment Costs，调整费用企业在改变其产量水平时所发生的费用——比如因解雇员工或者对新雇员进行培训时所发生的管理费用。

Adverse Selection，逆向选择当一个购买者或者销售者参与到一项交易中，交易的另一方拥有更多的信息时，就会发生逆向选择。

Aggregate Behavior，总效应所有的家庭与厂商的行为的加总。

Aggregate Demand，总需求整个经济中对于产品和服务的总需求。

Aggregate Demand（AD） Curve，总需求（AD）曲线反应总产出（收入）与价格水平之间的负向关系的曲线。

AD曲线上的每一点都是商品市场与货币市场的均衡点。

Aggregate Income，总收入在某一给定时期内，参与生产的所有要素获得的总报酬。

Aggregate Output，总产出在某一给定时期内，整个经济中生产（供给）的产品与服务的总量。

Aggregate Production Function，总生产函数投入与国民产出（或者国内生产总值）之间的数学表达。

Aggregate Supply，总供给整个经济中的产品与服务的供给总量。

Aggregate Supply（AS） Curve，总供给（AS）曲线表现经济中的所有企业在全部价格水平下的总的产出的供给量的图。

Animal Spirits of Entrepreneurs，企业家的动物精神凯恩斯创造的用于描述投资者的感受的词。

Antitrust Division（of the Department of Justice），反托拉斯部门（司法部的）被授权对违反反托拉斯法的行为采取制裁的两个联邦机构之一。

经济学中的英文词缩写

微观经济学术语的英文及缩写第一章导论理性人（Rational man）微观经济学（Microeconomics）、微观经济学（Macroeconomics）消费者(Consumer)生产者(Producer)企业(Enterprise企（事）业单位；establishment企业；business商业；company公司/商号corporation) 厂商（Firm/Manufacturer）第二章需求、供给和价格需求（d emand）缩写D供给（Supply) 缩写S弹性（elasticity）缩写 E 或 eE简称价格弹性需求的价格弹性（price elasticity of demand ）E d或e d 或Pd需求的收入弹性（Income elasticity of demand ）E M或e m需求的交叉弹性（Cross-price elasticity of demand)）E XY或e xy供给价格弹性(Price elasticity of supply)E S或e s 或P s E简称供给弹性均衡价格(Equilibrium price)(均衡数量(equilibrium quantity;balance quantity;balanced quantity)第三章效用论基数效用论(Cardinal utility)序数效用论：(Ordinal utility总效用（T otal utility）缩写TU边际效用（Marginal utility）缩写MU无差异曲线(Indifference curve) 缩写I商品之间的边际替代率（marginal rate of substitution) 缩写MRS12第四章生产论厂商（Firm）交易成本（transaction cost)生产要素(Factors of Production)劳动（labour）缩写L资本（capital ）缩写k土地（Iand）指一切自然资源（Natural resources）缩写N企业家才能(Entrepreneurship ) 缩写 EC-D生产函数 ( Cobb- Douglas production function)短期（short-run）、长期（long-run）总产量(Total Product ) 缩写TP或Q 劳动的总产量TP L平均产量（Average Product ）缩写AP 劳动的平均产量AP L边际产量/产品（Marginal Product）缩写MP 劳动的边际产量MP L分increasing returns of scale、constant returns of scale、decreasing returns of scale等成本线（Isocost line）等产量线（Isoquant line）第五章成本论成本(cost) 缩写 C费用(expense）机会成本（Opportunity cost）显成本（Explicit cost）隐成本（Implicit cost）正常利润（Normal profit)超额利润(Excess profit)或叫经济利润(Econormic profit）经常用π表示、利润最大化（profit maximization）利润最大化原则(principle of profit maximization)短期总成本（Short-run total cost）缩写STC 或TC总固定成本（T otal fixed cost）缩写TFC 或FC总变动成本（T otal variable cos t）缩写TVC 或VC平均固定成本（Average fixed cost ) 缩写AFC平均可变成本（Average variable cost ) AVC短期平均成本（Short-run average cost) SAC 或AC短期边际成本（Short-run marginal cos t) SMC 或MC长期总成本（Long-run total cost）LTC 或TC长期平均成本（Long-run average cos t) LAC 或AC长期边际成本（Long-run marginal cost) LMC 或MC规模经济（Economies of scale）、规模不经济（Diseconomies of scale）外在经济（The external economy）、外在不经济（External diseconomy）收益（Revenue）R总收益( total revenue；gross earnings；gross income) TR平均收益（average revenue）AR边际收益（marginal income ）MR第六章完全竞争市场市场结构（Market structure)完全竞争市场（perfect competition market）长期供给线(Long-run supply curve) LS消费者剩余（Consumer’s surplus）CS生产者剩余(Producer’s surplus) PS (Producer surplus)看不见手的原理（Invisible hand theorem）第七章不完全竞争市场（Imperfect competition market）完全垄断市场(Complete monopoly market (Monopoly)：卖方垄断（Monopoly）/买方（Monopsony）垄断竞争（Monopolistic Competition ）/垄断竞争市场（Monopolistic Competition Market）寡头垄断（Oligopsony）/寡头垄断市场（Oligopsony market）价格歧视(Price discrimination)一级价格歧视(First-degree price discrimination)二级价格歧视(Second- degree price discrimination)三级价格歧视(Third－degree price discrimination)博弈论（Game theory）纳什均衡(Nash equilibrium)囚犯困境(prisoners’ dilemma)第八章生产要素边际收益产品（Marginal Revenue Product）MRP边际产品价值(Value of marginal product) VMP边际要素成本（Marginal Factor Cost）MFC工资( Wage) w 最低工资minimum wage实际工资（Real wages）\名义工资（Normal wages）地租/ 租金（rent) R利息(Interest) 、利率（Interest rate）缩写r实际利率（Real Interest rate）、名义利率（Normal Interest rate）洛伦慈曲线（Lorenz curve）基尼系数( Gink coefficient ) 缩写G第十章一般均衡和福利经济学（这一章不用看）埃奇沃思盒（Edgeworth’s Box）帕累托最优(Pareto-optimality) 帕累托最优状态帕累托效率（Pareto efficiency）、帕累托改进（Pareto improvement）福利经济学(welfare economics)福利经济学第一定律（First Fundamental Theorem of Welfare Economics）福利经济学第二定律（Second Fundamental Theorem of Welfare Economics）边际生产转换率（the marginal rateof product transformation）MRTS XY边际转换率（marginal rate of transformation）MTS XY =MRTS XY =ΔY/ΔX第十一章微观经济政策市场失灵（market failure)外部影响(External effects) 、外部效应Externalities外部经济（external economies ）、外部不经济（external diseconomies）私人成本(private cost；personal cost)、社会成本（social cost）科斯定理（Kos's theorem）the Coase theorem (科斯定理)共有财产（community of goods；joint property）私人物品(private goodst)、公共物品(Public goods)搭便车(Free ride / Free-Riding)或thumb a lift [or ride]；hitchhike；pick up; hitch a ride)搭便车者pick up a hitch-hiker竞争性(Competitive)、非竞争性non-competitive/ non-rival排他性(Exclusive)、非排他性non-exclusive /nonexcludable公共选择(Public choice)完全信息(C omplete information)、不完全信息(Imperfect information;incomplete information)不对称信息(Asymmetric Information)逆向选择（Adverse Selection）道德风险(Moral hazard)次品市场(lemon market) ：柠檬市场（lemon market），lemon market problem也叫asymmetric informationproblem (信息不对称问题)次品（substandard [shoddy] products;substandard）。

微观经济学英文版名词解释超详细

经济学中的英文词缩写

微观经济学术语的英文及缩写第一章导论理性人(Rational man)微观经济学(Microeconomics)、微观经济学(Macroeconomics)消费者(Consumer)生产者(Producer)企业(Enterprise企(事)业单位;establishment企业;business商业;company公司/商号corporation) 厂商(Firm/Manufacturer)第二章需求、供给与价格需求(d emand) 缩写D供给(Supply) 缩写S弹性(elasticity) 缩写 E 或 eE简称价格弹性需求的价格弹性(price elasticity of demand ) E d或e d 或Pd需求的收入弹性(Income elasticity of demand )E M或e m需求的交叉弹性(Cross-price elasticity of demand))E XY或e xyE简称供给弹性供给价格弹性(Price elasticity of supply)E S或e s 或Ps均衡价格(Equilibrium price)(均衡数量(equilibrium quantity;balance quantity;balanced quantity)第三章效用论基数效用论(Cardinal utility)序数效用论:(Ordinal utility总效用(T otal utility) 缩写TU边际效用(Marginal utility) 缩写MU无差异曲线(Indifference curve) 缩写I商品之间的边际替代率(marginal rate of substitution) 缩写MRS12第四章生产论厂商(Firm)交易成本(transaction cost)生产要素(Factors of Production)劳动(labour) 缩写L资本(capital )缩写k土地(Iand)指一切自然资源(Natural resources) 缩写N企业家才能(Entrepreneurship ) 缩写 EC-D生产函数 ( Cobb- Douglas production function)短期(short-run)、长期(long-run)总产量(Total Product ) 缩写TP或Q 劳动的总产量TP L平均产量(Average Product ) 缩写AP 劳动的平均产量AP L边际产量/产品(Marginal Product) 缩写MP 劳动的边际产量MP LMRTS边际技术替代率( Marginal rate of technical substitution ) 缩写LK规模报酬,也叫规模收益(return of scale )分increasing returns of scale、constant returns of scale、decreasing returns of scale 等成本线(Isocost line)等产量线(Isoquant line)第五章成本论成本(cost) 缩写 C费用(expense)机会成本(Opportunity cost)显成本(Explicit cost)隐成本(Implicit cost)正常利润(Normal profit)超额利润(Excess profit)或叫经济利润(Econormic profit) 经常用π表示、利润最大化(profit maximization)利润最大化原则(principle of profit maximization)短期总成本(Short-run total cost) 缩写STC 或TC总固定成本(Total fixed cost) 缩写TFC 或FC总变动成本(Total variable cos t) 缩写TVC 或VC平均固定成本(Average fixed cost ) 缩写AFC平均可变成本(Average variable cost ) AVC短期平均成本(Short-run average cost) SAC 或AC短期边际成本(Short-run marginal cos t) SMC 或MC长期总成本(Long-run total cost) LTC 或TC长期平均成本(Long-run average cos t) LAC 或AC长期边际成本(Long-run marginal cost) LMC 或MC规模经济(Economies of scale)、规模不经济(Diseconomies of scale)外在经济(The external economy)、外在不经济(External diseconomy)收益(Revenue) R总收益( total revenue;gross earnings;gross income) TR平均收益(average revenue)AR边际收益(marginal income ) MR第六章完全竞争市场市场结构(Market structure)完全竞争市场(perfect competition market)长期供给线(Long-run supply curve) LS消费者剩余(Consumer’s surplus) CS生产者剩余(Producer’s surplus) PS (Producer surplus)瞧不见手的原理(Invisible hand theorem)第七章不完全竞争市场(Imperfect competition market)完全垄断市场(Complete monopoly market (Monopoly):卖方垄断(Monopoly)/买方(Monopsony) 垄断竞争(Monopolistic Competition )/垄断竞争市场(Monopolistic Competition Market)寡头垄断(Oligopsony)/寡头垄断市场(Oligopsony market)价格歧视(Price discrimination)一级价格歧视(First-degree price discrimination)二级价格歧视(Second- degree price discrimination)三级价格歧视(Third－degree price discrimination)博弈论(Game theory)纳什均衡(Nash equilibrium)囚犯困境(prisoners’ dilemma)第八章生产要素边际收益产品(Marginal Revenue Product) MRP边际产品价值(Value of marginal product) VMP边际要素成本(Marginal Factor Cost) MFC工资( Wage) w 最低工资minimum wage实际工资(Real wages)\名义工资(Normal wages)地租/ 租金(rent) R利息(Interest) 、利率( Interest rate)缩写r实际利率(Real Interest rate)、名义利率(Normal Interest rate)洛伦慈曲线(Lorenz curve)基尼系数( Gink coefficient ) 缩写G第十章一般均衡与福利经济学(这一章不用瞧)埃奇沃思盒(Edgeworth’s Box)帕累托最优(Pareto-optimality) 帕累托最优状态帕累托效率(Pareto efficiency)、帕累托改进(Pareto improvement)福利经济学(welfare economics)福利经济学第一定律(First Fundamental Theorem of Welfare Economics)福利经济学第二定律(Second Fundamental Theorem of Welfare Economics)边际生产转换率(the marginal rateof product transformation) MRTS XY边际转换率(marginal rate of transformation) MTS XY =MRTS XY =ΔY/ΔX第十一章微观经济政策市场失灵(market failure)外部影响(External effects) 、外部效应Externalities外部经济(external economies )、外部不经济(external diseconomies)私人成本(private cost;personal cost)、社会成本(social cost)科斯定理(Kos's theorem)the Coase theorem (科斯定理)共有财产(community of goods;joint property)私人物品(private goodst)、公共物品(Public goods)搭便车(Free ride / Free-Riding)或thumb a lift [or ride];hitchhike;pick up; hitch a ride)搭便车者pick up a hitch-hiker竞争性(Competitive)、非竞争性non-competitive/ non-rival排她性(Exclusive)、非排她性non-exclusive /nonexcludable公共选择(Public choice)完全信息(C omplete information)、不完全信息(Imperfect information;incomplete information)不对称信息(Asymmetric Information)逆向选择(Adverse Selection)道德风险(Moral hazard)次品市场(lemon market) :柠檬市场(lemon market),lemon market problem也叫asymmetric informationproblem (信息不对称问题)次品(substandard [shoddy] products;substandard)。

《微观经济学microeconomics》英文版

Proof
Expenditure Minimization Problem
The problem:
Minx0 px
s.t. u(x) u
The first order condition:
u( x* ) / xl u( x* ) / xk
pl pk
u( x) u
The solution: Hicksian demand function h(p,u)
ECON501 Lecture Note 3
Consumer Theory 2 ( Textbook Chapter 3 )
Structure
Utility Maximization Problem Utility maximization Walrasian demand function Indirect utility function
of demand Preference (Chapter 3) The basic properties of preference Existence of utility function
The Budget set
Commodities The physical constraints and the consumption set
Convexity of Walrasian budget set: proof
Consumer’s Choice
The consumer’s problem: to choose a consumption bundle x from the Walrasian budget set.
Walrasian Demand Function x( p, w)
Intuition: Figure 2.F.1

微观经济学-(英文版)名词解释

微观经济名词解释CHAPTER 1Scarcity : the limited nature of society’s resources.Economics : the study of how society manages its scarce resources.Efficiency : the property of society getting the most it can from its scarce resources.Equity : the property of distributing economic prosperity fairly among the members of society. Opportunity cost : whatever must be given up to obtain some item.Rational : systematically and purposefully doing the best you can to achieve your objectives. Marginal changes : small incremental adjustments to a plan of action.Incentive : something that induces a person to act.Market economy : an economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and services.Property rights : the ability of an individual to own and exercise control over scarce resources. Market failure : a situation in which a market left on its own fails to allocate resources efficiently. Externality : the impact of one person’s action s on the well-being of a bystander.Market power : the ability of a single economic actor (or small group of actors) to have a substantial influence on market prices.Productivity : the quantity of goods and services produced from each hour of a worker’s t ime. Inflation : an increase in the overall level of prices in the economy.Phillips curve : a curve that shows the short-run tradeoff between inflation and unemployment. Business cycle : fluctuations in economic activity, such as employment and production.CHAPTER 2Circular-flow diagram : a visual model of the economy that shows how dollars flow through markets among households and firms.Production possibilities frontier : a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology. Microeconomics : the study of how households and firms make decisions and how they interact in markets.Macroeconomics : the study of economy-wide phenomena, including inflation, unemployment, and economic growth.Positive statements: claims that attempt to describe the world as it is.Positive statements: claims that attempt to describe the world as it is.CHAPTER 4Quantity demanded: the amount of a good that buyers are willing and able to purchase.Law of demand: the claim that, other things equal, the quantity demanded of a good falls when the price of the good rises.Demand schedule: a table that shows the relationship between the price of a good and the quantity demanded.Demand curve : a graph of the relationship between the price of a good and the quantity demanded. Normal good : a good for which, other things equal, an increase in income leads to an increase in demand.Inferior good : a good for which, other things equal, an increase in income leads to a decrease in demand.Substitutes : two goods for which an increase in the price of one good leads to an increase in the demand for the other.Complements : two goods for which an increase in the price of one good leads to a decrease in the demand for the other.quantity supplied : the amount of a good that sellers are willing and able to sell.Law of supply : the claim that, other things equal, the quantity supplied of a good rises when the price of the good rises.Supply schedule: a table that shows the relationship between the price of a good and the quantity supplied.Supply curve: a graph of the relationship between the price of a good and the quantity supplied. Equilibrium : a situation in which the price has reached the level where quantity supplied equals quantity demanded.Equilibrium price : the price that balances quantity supplied and quantity demanded.Equilibrium quantit y : the quantity supplied and the quantity demanded at the equilibrium price. Surplus : a situation in which quantity supplied is greater than quantity demanded.Shortage : a situation in which quantity demanded is greater than quantity supplied.Law of supply and demand : the claim that the price of any good adjusts to bring the supply and demand for that good into balance.CHAPTER 5Elasticity a measure of the responsiveness of quantity demanded or quantity supplied to one of its determinants.Price elasticity of demand: a measure of how much the quantity demanded of a good responds to a change in the price of that good, computed as the percentage change in quantity demanded divided by the percentage change in price.Total revenue: the amount paid by buyers and received by sellers of a good, computed as the price of the good times the quantity sold.Income lasticity of demand: a measure of how much the quantity demanded of a good responds to a change in consumers’ income, computed as the percentage change in quantity demanded divided by the percentage change in income.Crossprice elasticity of demand: a measure of how much the quantity demanded of one good responds to a change in the price of another good, computed as the percentage change in the quantity demanded of the first good divided by the percentage change in the price of the second good.Price elasticity of supply: a measure of how much the quantity supplied of a good responds to a change in the price of that good, computed as the percentage change in quantity supplied divided by the percentage change in price.CHAPTER 6Price ceiling: a legal maximum on the price at which a good can be sold.Price floor: a legal minimum on the price at which a good can be sold.Tax incidence: the manner in which the burden of a tax is shared among participants in a market.CHAPTER 7Welfare economics: the study of how the allocation of resources affects economic well-being. Willingness to pay: the maximum amount that a buyer will pay for a good.Consumer surplus: a buyer’s willingness to pay minus the amount the buyer actually pays.Cost：the value of everything a seller must give up to produce a good.Producer surplus: the amount a seller is paid for a good minus the seller’s cost.Eficiency: the property of a resource allocation of maximizing the total surplus received by all members of society.Euity :fairness of the distribution of well-being among the members of society.CHAPTER 8Deadweight loss: the fall in total surplus that results from a market distortion, such as a tax.CHAPTER 10Externality :the uncompensated impact of one p erson’s actions on the well-being of a bystander. Internalizing an externality: altering incentives so that people take account of the external effects of their actions.Coase theorem: the proposition that if private parties can bargain without cost over the allocation of resources, they can solve the problem of externalities on their own.Transaction costs: the costs that parties incur in the process of agreeing and following through on a bargain.CHAPTER11Excludability:the property of a good whereby a person can be prevented from using it.Rivalry in consumption: the property of a good whereby one person’s use diminishes other people’s use.Private goods: goods that are both excludable and rival.Public goods :goods that are neither excludable nor rival.Common resources: goods that are rival but not excludable.Free rider: a person who receives the benefit of a good but avoids paying for it.Costbenefit analysis: a study that compares the costs and benefits to society of providing a public good. Tragedy of the commons: a parable that illustrates why common resources get used more than is desirable from the standpoint of society as a whole.CHAPTER 13Total revenue: the amount a firm receives for the sale of its output.Total cost: the market value of the inputs a firm uses in production.profit :total revenue minus total cost.explicit costs: input costs that require an outlay of money by the firm.Implicit costs: input costs that do not require an outlay of money by the firm.Economic profit: total revenue minus total cost, including both explicit and implicit costs. Accounting profit: total revenue minus total explicit cost.Production function: the relationship between quantity of inputs used to make a good and the quantity of output of that good.Marginal product: the increase in output that arises from an additional unit of input.Diminishing marginal product: the property whereby the marginal product of an input declines as the quantity of the input increases.Fixed costs: costs that do not vary with the quantity of output produced.Variable costs: costs that do vary with the quantity of output produced.Average total cost: total cost divided by the quantity of output.Average fixed cost: fixed costs divided by the quantity of output.Average variable cost: variable costs divided by the quantity of output.Marginal cost: the increase in total cost that arises from an extra unit of production.Efficient scale: the quantity of output that minimizes average total cost.Economies of scale: the property whereby long-run average total cost falls as the quantity of output increases.Diseconomies of scale: the property whereby long-run average total cost rises as the quantity of output increases.Constant returns to scale: the property whereby long-run average total cost stays the same as the quantity of output changes.CHAPTER 14Competitive market: a market with many buyers and sellers trading identical products so that each buyer and seller is a price taker.Average revenue: total revenue divided by the quantity sold.Marginal revenue: the change in total revenue from an additional unit sold.Sunk cost: a cost that has been committed and cannot be recovered.CHAPTER 15Monopoly a firm that is the sole seller of a product without close substitutes.Natural monopoly: a monopoly that arises because a single firm can supply a good or service to an entire market at a smaller cost than could two or more firms.Price discrimination: the business practice of selling the same good at different prices to different customers.CHAPTER 16Oligopoly :a market structure in which only a few sellers offer similar or identical products. Monopolistic competition: a market structure in which many firms sell products that are similar but not identical.Collusion :an agreement among firms in a market about quantities to produce or prices to charge.Carte : a group of firms acting in unison.Nash equilibrium: a situation in which economic actors interacting with one another each choose their best strategy given the strategies that all the other actors have chosen.Game theory: the study of how people behave in strategic situations.Prisoners’dilemma: a particular "game" between two captured prisoners that illustrates why cooperation is difficult to maintain even when it is mutually beneficial.Dominant strategy: a strategy that is best for a player in a game regardless of the strategies chosen by the other players.CHAPTER 17Monopolistic competition: a market structure in which many firms sell products that are similar but not identical.。

微观经济学英文版名词解释超详细

微观经济学名词解释Chapter 1businesscycle 经济周期fluctuations in economic activity, such as employment andproductioneconomi cs 经济学;经济，国家的经济状况the study of how society manages its scarce 缺乏的，罕见的resourcesefficienc y n.功效; 效率，效能; 实力，能力; [物] 性能;the property of society getting the most it can from its scarceresourcesequality n .同等，平等; [数]相等，等式;the property of distributing economic prosperity uniformlyamong the members of societyexternality[,ekst ɜː'næl ɪt ɪ]外部性the uncompensated impact of on e person’s actions on the well-being of a bystander 旁观者; 局外人; 看热闹的人 incentive s omething that induces a person to actInflation [ɪn'fle ɪʃ(ə)n]an increase in the overall level of prices in the economy marginalchangessmall incremental 增加的 adjustments to a plan of actionmarket economyan economy that allocates resources through thedecentralized 权力分散; 人口疏散; 密度分散;decisions of many firms and households as they interact in markets for goods and services market failure a situation in which a market left on its own fails to allocate 分配，分派; 把…拨给;英[ˈæləke ɪt] resources efficiently market powerthe ability of a single economic actor (or small group of actors) to have a substantial influence on market pricesopportunity costwhatever must be given up to obtain some itemproducti vity the quantity of goods and services produced from each unit of labor inputChapter 2circular-flow diagrama visual model of the economy that shows how dollars flowthrough markets among households 家庭; 家庭，户and firms macroeconomics [,mækr əʊi ːk ə'n ɒm ɪks; -ek-]the study of economy-wide phenomena, including inflation, unemployment, and economic growth microeconomics [,ma ɪkr əʊi ːk ə'n ɒm ɪks the study of how households and firms make decisionsand how they interact in marketsnormative['n ɔːm ət ɪv]标准的 statementsclaims that attempt to prescribe 定，规定; 指定，规定;美[pr ɪˈskra ɪb] how the world should be positivestatementsclaims that attempt to describe the world as it isproductionpossibilitiesfrontier['fr ʌnt ɪə）a graph that shows the combinations of output that theeconomy can possibly produce given the available factorsof production and the available production technologyChapter 3absoluteadvantagethe ability to produce a good using fewer inputs than anotherproducercomparati ve advantag ethe ability to produce a good at a lower opportunity cost than another producer exports goods produced domestically 美[d ə'mest ɪkl ɪ】合乎国内的 andsold abroad imports goods produced abroad and sold domestically opportunity cost whatever must be given up to obtain some itemChapter 4competiti ve market a market with many buyers and sellers['sel ə] trading identical 同一的，完全相同的美[a ɪˈd ɛnt ɪk əl] products so that each完全竞争市场buyer and seller is a price taker Complements互补品['kɑmpləmənt]two goods for which an increase in the price of one leads to a decrease in the demand for the otherdemand curve 需求曲线a graph of the relationship between the price of a good and the quantity demandeddemand schedule 需求表a table that shows the relationship between the price of a good and the quantity demandedEquilibrium[,ikwɪ'lɪbrɪəm]均衡a situation in which the market price has reached the level at which quantity supplied equals quantity demandedequilibriu m price 均衡价格the price that balances quantity supplied and quantity demandedequilibriu m quantity the quantity supplied and the quantity demanded at the equilibrium priceinferiorgood劣质品[ɪn'fɪərɪə] a good for which, other things equal, an increase in income leads to a decrease in demandlaw of demand 需求原理the claim that, other things equal, the quantity demanded of a good falls when the price of the good riseslaw of supply 供给原理the claim that, other things equal, the quantity supplied of a good rises when the price of the good riseslaw of supply and demand the claim that the price of any good adjusts to bring the quantity supplied and the quantity demanded for that good into balancemarket a group of buyers and sellers of a particular good or servicenormal good a good for which, other things equal, an increase in income leads to an increase in demand普通商品quantity demande d 需求量the amount of a good that buyers are willing and able to purchasequantitysuppliedthe amount of a good that sellers are willing and able to sell shortage a situation in which quantity demanded is greater than quantity suppliedsubstitute s two goods for which an increase in the price of one leads to an increase in the demand for the othersupply curve a graph of the relationship between the price of a good and the quantity suppliedsupply schedule a table that shows the relationship between the price of a good and the quantity suppliedsurplus ['sɜ:pləs] a situation in which quantity supplied is greater than quantity demandedChapter 5cross-pri ceelasticity of demand 需求交叉弹性是需求交叉价格弹性a measure of how much the quantity demanded of one good responds to a change in the price of another good, computed as the percentage change in quantity demanded of the first good divided by the percentage change in the price of the second goodelasticity [,ilæ'stɪsəti]n .弹性; 弹力; 灵活性; 伸缩性;a measure of the responsiveness of quantity demanded orquantity supplied to one of its determinantsincome elasticity a measure of how much the quantity demanded of a good responds to a change in consumers’ income, computed as theof demand 需求的收入弹性 percentage change in quantity demanded divided by the percentage change in income price elasticity ofdemand 需求价格弹性a measure of how much the quantity demanded of a good responds to a change in the price of that good, computed as the percentage change in quantity demanded divided by the percentage change in pricepriceelasticityof supply供给的价格弹性a measure of how much the quantity supplied of a goodresponds to a change in the price of that good, computed asthe percentage change in quantity supplied divided by thepercentage change in pricetotal revenue (in a market)总收入; 总收益the amount paid by buyers and received by sellers of a good, computed as the price of the good times the quantity sold Chapter 6price ceiling ['si ːl ɪŋ] a legal maximum['mæks ɪm əm] on the price at which a good can be soldprice floora legal minimum on the price at which a good can be soldtaxincidenc e['ɪns ɪd(ə)ns]the manner in which the burden of a tax is shared among participants in a marketChapter 7consumer [k ən'sju ːmə] surplus['s ɜːpl əs]消费者剩余 the amount a buyer is willing to pay for a good minus ['ma ɪn əs] theamount the buyer actually pays for itcostthe value of everything a seller must give up to produce a goodefficiency the property of society getting the most it can from its scarceresources equality the property of distributing economic prosperity uniformly amongthe members of society producer surplus the amount a seller is paid for a good minus the seller’s cost of providing itwelfareeconomicsthe study of how the allocation 美[ˌæləˈke ɪʃn]分配，配给 ofresources affects economic well-beingwillingnes s to pay受益者负担 the maximum amount that a buyer will pay for a goodChapter 8Deadweightloss 无谓损失又为社会净损失the fall in total surplus 过剩的; 多余的[ˈsɜ:rpl əs] that results from a market distortion 变形; 失真[d ɪˈst ɔr ʃən], such as a taxChapter 9tariff n . 关税;关税表; 价格表a tax on goods produced abroad and sold domesticallyworld price the price of a good that prevails in the world market for that goodChapter 10Coasetheorem['θɪər əm]科斯定理the proposition that if private parties can bargain without costover the allocation of resources, they can solve the problem ofexternalities 外在性 on their owncorrectiv e tax 矫 a tax designed to induce private decision makers to take account of the social costs that arise from a negative正税externality externality [,ekstɜː'nælɪtɪ]n .外形; 外在性; 外部事物;（经济学名词）外部效应the uncompensated impact of one person’s actions on thewell-being of a bystanderinternalizing the externalit y 内化altering incentives[ɪn'sɛntɪv] so that people take account of the external effects of their actionstransaction[træn'z ækʃən]交易costs the costs that parties incur in the process of agreeing to and following through on a bargainChapter11clubgoodsgoods that are excludable but not rival in consumptioncommon resource s goods that are rival in consumption but not excludable可排他的; 包括在外的;cost–benefi t analysis 成本效益分析a study that compares the costs and benefits to society of providing a public goodexcludability [ɪks,kluːdə'bɪlətɪ]排他性the property of a good whereby a person can be prevented from using itfree rider a person who receives the benefit of a good but avoids paying[释义]坐享其成，无本获利; for it private goods goods that are both excludable and rival in consumption public goodsgoods that are neither excludable nor rival in consumptionrivalry inconsump tion 消费竞争the property of a good whereby one person’s use diminishes other people’s use Tragedyof theCommon s 公共地悲剧a parable 寓言; 格言; that illustrates why common resources are used more than is desirable from the standpoint of society as a wholeChapter 12ability-to-payprinciple[释义]负担能力原则，付税能力原则;the idea that taxes should be levied on a person according tohow well that person can shoulder the burdenaveragetax ratetotal taxes paid divided by total incomebenefits principle the idea that people should pay taxes based on the benefits they receive from government servicesbudgetdeficit n.预算赤字;a shortfall 亏空; 缺空 of tax revenue from governmentspendingbudgetsurplus 预算结余an excess of tax revenue over government spending horizontal equity 纳税横向均等;the idea that taxpayers with similar abilities to pay taxes should pay the same amountlump-sum tax 总量税a tax that is the same amount for every person marginaltax rate 边际税率the extra taxes paid on an additional dollar of income progressive tax 累进税a tax for which high-income taxpayers pay a larger fraction 分数; 一小部分 of their income than do low-income taxpayersproportional tax 比例税率a tax for which high-income and low-income taxpayers pay thesame fraction of incomeregressive tax 累退税a tax for which high-income taxpayers pay a smaller fraction oftheir income than do low-income taxpayersverticalequity 纵向公平the idea that taxpayers with a greater ability to pay taxesshould pay larger amountsChapter 13accounting profittotal revenue minus total explicit 清楚的，明确的 costaveragefixed costfixed cost divided by the quantity of outputaveragetotal cost total cost divided by the quantity of outputaverage variable costvariable cost divided by the quantity of outputconstantreturns toscalethe property whereby long-run average total cost stays thesame as the quantity of output changesdiminishin gmarginal product 边际产量递减规律the property whereby the marginal product of an input declines as the quantity of the input increases disecono the property whereby long-run average total cost rises as themies ofscale 规模不经济quantity of output increaseseconomic profit total revenue minus total cost, including both explicit and implicit costseconomie s of scale 规模经济the property whereby long-run average total cost falls as the quantity of output increasesefficientscale最小有效规模the quantity of output that minimizes average total costexplicitcostsinput costs that require an outlay of money by the firmfixedcosts固定成本costs that do not vary with the quantity of output producedimplicitcosts隐性成本input costs that do not require an outlay of money by the firmmarginal cost边际成本the increase in total cost that arises from an extra unit of productionmarginal product the increase in output that arises from an additional unit of inputproductio n function the relationship between the quantity of inputs used to make a good and the quantity of output of that goodprofit total revenue minus total costtotal cost the market value of the inputs a firm uses in production totalrevenue(for firm)the amount a firm receives for the sale of its outputvariablecosts[释义]变动成本;costs that vary with the quantity of output producedChapter14average total revenue divided by the quantity soldrevenuecompetiti ve marketa market with many buyers and sellers trading identical products so that each buyer and seller is a price taker marginal revenuethe change in total revenue from an additional unit sold sunkcost 沉没成本 a cost that has already been committed and cannot be recoveredChapter15monopoly[mə'n ɒp(ə)l ɪ]a firm that is the sole seller of a product without close substitutes naturalmonopoly n.垄断; 专卖; 垄断者; 专利品;a monopoly that arises because a single firm can supply a good or service to an entire market at a smaller cost than could two or more firms price discrimina tionthe business practice of selling the same good at different prices to different customersChapter16 monopolistic competiti on 垄断竞争市场a market structure in which many firms sell products that are similar but not identical oligopoly求过于供的市场情况;a market structure in which only a few sellers offer similar or identical productsChapter17经>卡特尔，企业联合a group of firms acting in unison ['juːnɪs(ə)n]collusion an agreement among firms in a market about quantities to produce or prices to charge<经>卡特尔，企业联合a strategy that is best for a player in a game regardless of the strategies chosen by the other playersgametheorythe study of how people behave in strategic situations GDPdeflator[d i'fleitə]GDP缩减指数a measure of the price level calculated as the ratio of nominal GDP to real GDP times 100Nash equilibriu m 纳什均衡a situation in which economic actors interacting with one another each choose their best strategy given the strategies that all the other actors have chosenoligopoly[ ,ɑlə'gɑpəli] 寡头a market structure in which only a few sellers offer similar or identical productsprisoners’ dilemma [dɪˈlemə囚徒困境”是1950年美国兰德公司提出的博弈论模型a particular “game” between two captured prisoners that illustrates why cooperation is difficult to maintain even when it is mutually beneficialChapter18capital the equipment and structures used to produce goods and servicesdiminishing marginal product the property whereby the marginal product of an input declines as the quantity of the input increases递减规律factors ofproductionthe inputs used to produce goods and servicesmarginal product of labor the increase in the amount of output from an additional unit of laborproducti on function the relationship between the quantity of inputs used to make a good and the quantity of output of that goodvalue ofthemarginal边际价值productthe marginal product of an input times the price of the outputChapter19compensating differential 补偿微分a difference in wages that arises to offset the non-monetary characteristics of different jobsdiscrimination[dɪ,skr ɪmɪ'neɪʃ(ə)n] ;歧视the offering of different opportunities to similar individuals who differ only by race, ethnic group, sex, age, or other personal characteristicsefficiency wages 效率工资above- equilibrium平衡，均势; 平静ˌ[ikwəˈlɪbriəm] wages paid by firms to increase worker productivityhuman capital*人力资本the knowledge and skills that workers acquire through education, training, and experiencestriken .攻击; 罢工[课，市];发现the organized withdrawal移开; 撤回of labor from a firm by aunionunion a worker association that bargains with employers over wages, benefits, and working conditions。

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The opportunity cost of any item is whatever must be given up to obtain it. It is the relevant cost for decision making.
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a whole works?
© 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
© 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
4
PRINCIPLE #1:
People Face Tradeoffs
Society faces an important tradeoff: efficiency vs. equality Efficiency: when society gets the most from its scarce resources
N. Gregory Mankiw
Microeconomics
Sixth Edition
Principles of
1
Ten Principles of Economics
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Having more money to buy stuff requires working longer hours, which leaves less time for leisure. Protecting the environment requires resources that could otherwise be used to produce consumer goods.
When a manager considers whether to increase output, she compares the cost of the needed labor and materials to the extra revenue.
© 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
© 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
5
PRINCIPLE #2:
The Cost of Something Is What You Give Up to Get It
Making decisions requires comparing the costs and benefits of alternative choices.
8
PRINCIPLE #3:
Rational People Think at the MarginExam Nhomakorabeales:
When a student considers whether to go to college for an additional year, he compares the fees & foregone wages to the extra income he could earn with the extra year of education.
© 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
Equality: when prosperity is distributed uniformly among society’s members
Tradeoff: To achieve greater equality, could redistribute income from wealthy to poor. But this reduces incentive to work and produce, shrinks the size of the economic “pie.”
Premium PowerPoint Slides by Ron Cronovich 2013 UPDATE
In this chapter, look for the answers to these questions:
• What kinds of questions does economics
address?
• What are the principles of how people make
decisions?
• What are the principles of how people interact? • What are the principles of how the economy as
2
The principles of
HOW PEOPLE MAKE DECISIONS
PRINCIPLE #1:
People Face Tradeoffs
All decisions involve tradeoffs. Examples:
Going to a party the night before your midterm leaves less time for studying.
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7
PRINCIPLE #3:
Rational People Think at the Margin
Rational people
systematically and purposefully do the best they can to achieve their objectives.
make decisions by evaluating costs and benefits of marginal changes, incremental adjustments to an existing plan.