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时间:2017-11-29
《principles-of-microeconomics-lecture-introduction》由会员上传分享,免费在线阅读,更多相关内容在教育资源-天天文库。
1、Dr.KatherineSauerPrinciplesofMicroeconomicsECO2020I.Whatiseconomics?Economicsisthestudyoftheuseofscarceresourceswhichhavealternativeuses.Whatdowemeanbyscarce?Humandesiresexceedourresources.Whatdowemeanbyresources?time,money,freshwater,yourskills…Whatdowemeanbyal
2、ternateuses?Whatare3thingsyoucouldspendyourtimeon?Whatare3thingsyoucouldspendyourmoneyon?Whatare3careersyoucouldpursuethatwouldutilizeyourskills?Economicsstudiestheconsequencesofthedecisionsthataremadeabouttheuseofscarceresources.Decisionsaremadebyindividualsgro
3、upsfirmsgovernmentsMicroeconomicsfocusesonthedecisionmakingofeconomicactors(e.g.consumers,producers).Macroeconomicsfocusesoneconomy-widephenomena(e.g.unemployment).II.10BasicPrinciplesofEconomicsA.HowPeopleMakeDecisionsPrinciple#1PeopleFaceTradeoffsInfiniteoptio
4、nsforspendingyourtime…buttimeisscarce…youfacetradeoffs.Infiniteoptionsforspendingyourmoney…butmoneyisscarce…youfacetradeoffs.Thinkofatradeoffthatyourecentlyfaced.Whatweretheoptionsyouweredecidingbetween?Whydidyougowiththeoptionyouchose?Recognizingthatpeoplefacet
5、rade-offsdoesnotbyitselftelluswhatdecisionstheywillorshouldmake.Acommontradeoffforsocietyisbetweenefficiencyandequity.efficiency=gettingthemostoutofascarceresourceequity=equallydistributingresourcesPrinciple#2:TheCostofSomethingisWhatYouGiveUpToGetItBecausepeopl
6、efacetrade-offs,makingdecisionsrequirescomparingthecostsandbenefitsofalternativecoursesofaction.Costsarenotsimplymonetaryinnature.Theopportunitycostofanitem/actionincludesanymoneycostaswellasanyforgoneopportunities.Whatisyourpersonalopportunitycostofbeinginclass
7、today?Whatistheopportunitycostofacollegeeducation?Whatistheopportunitycostofspendingtaxdollarsonnationalhealthcare?Principle#3:RationalPeopleThinkattheMarginRationalmeansonlydoingthingswhenthebenefitsoutweighthecosts.Rationalpeopleknowthatdecisionsinlifearerarel
8、yblackandwhitebutusuallyinvolveshadesofgray.Thetermmarginalisusedtodescribesmallincrementaladjustmentstoanexistingplanofaction.(decisionsarerarelyall-or-nothing)While
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