尼克尔森《微观经济理论基本原理与扩展》第十版官方英文版教学PPT课件
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– Continuation of distinction between value and price
• value meant “value in use” • price meant “value in exchange”
The Economic Theory of Value
• Labor theory of exchange value
Positive-Normative Distinction
• Positive economic theories seek to explain the economic phenomena that are observed
• Normative economic theories focus on what “should” be done
costs) – government regulators seek to maximize
public welfare
Optimization Assumptions
• Optimization assumptions generate precise, solvable models
• Optimization models appear to perform fairly well in explaining reality
Slides created by Linda Ghent
Eastern Illinois University
Chapter 1
Economic Models
Theoretical Models
• Economists use models to describe economic activities
The Economic Theory of Value
• Early economic thought
– “value” was considered to be synonymous with “importance”
– the price of an item may differ from its value
Optimization Assumptions
• Many models assume that economic actors are rationally pursuing some goal
– consumers seek to maximize utility – firms seek to maximize profits (or minimize
– prices > value were judged to be “unjust”
The Economic Theory of Value
• The founding of modern economics
– The Wealth of Nations is considered the beginning of modern economics
– direct approach
• establishes the validity of the model’s assumptions
– indirect approach
• shows that the model correctly predicts realworld events
Verification of Economic Models
• Ceteris Paribus means “other things the same”
• Economic models explain simple relationships
– focus on only a few forces at a time – other variables are assumed to be unchanged
• We can use the profit-maximization model to examine these approaches
– is the basic assumption valid? do firms really seek to maximize profits?
– can the model predict the behavior of real-world firms?
• While most economic models are abstractions from reality, they provide aid in understanding economic behavior
Verification of Economic Models
• There are two general methods used to verify economic models:
– the exchange values of goods are determined by the costs of producing them
• primarily affected by labor costs
– diamond-water paradox
• producing diamonds requires more labor than producing water
Features of Economic Models
• Ceteris Paribus assumption
• Optimization assumption • Distinction between positive and
normative analysis
Ceteris Paribus Assumption
The Economic Theory of Value
• The marginalist revolution
– the exchange value of an item is determined by the usefulness of the last unit consumed
• value meant “value in use” • price meant “value in exchange”
The Economic Theory of Value
• Labor theory of exchange value
Positive-Normative Distinction
• Positive economic theories seek to explain the economic phenomena that are observed
• Normative economic theories focus on what “should” be done
costs) – government regulators seek to maximize
public welfare
Optimization Assumptions
• Optimization assumptions generate precise, solvable models
• Optimization models appear to perform fairly well in explaining reality
Slides created by Linda Ghent
Eastern Illinois University
Chapter 1
Economic Models
Theoretical Models
• Economists use models to describe economic activities
The Economic Theory of Value
• Early economic thought
– “value” was considered to be synonymous with “importance”
– the price of an item may differ from its value
Optimization Assumptions
• Many models assume that economic actors are rationally pursuing some goal
– consumers seek to maximize utility – firms seek to maximize profits (or minimize
– prices > value were judged to be “unjust”
The Economic Theory of Value
• The founding of modern economics
– The Wealth of Nations is considered the beginning of modern economics
– direct approach
• establishes the validity of the model’s assumptions
– indirect approach
• shows that the model correctly predicts realworld events
Verification of Economic Models
• Ceteris Paribus means “other things the same”
• Economic models explain simple relationships
– focus on only a few forces at a time – other variables are assumed to be unchanged
• We can use the profit-maximization model to examine these approaches
– is the basic assumption valid? do firms really seek to maximize profits?
– can the model predict the behavior of real-world firms?
• While most economic models are abstractions from reality, they provide aid in understanding economic behavior
Verification of Economic Models
• There are two general methods used to verify economic models:
– the exchange values of goods are determined by the costs of producing them
• primarily affected by labor costs
– diamond-water paradox
• producing diamonds requires more labor than producing water
Features of Economic Models
• Ceteris Paribus assumption
• Optimization assumption • Distinction between positive and
normative analysis
Ceteris Paribus Assumption
The Economic Theory of Value
• The marginalist revolution
– the exchange value of an item is determined by the usefulness of the last unit consumed