中级微观经济学教学大纲(王则柯)

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1、四学分中级微观经济学教学大纲王则柯MICROECONOMICS(4credits,asof2002)ClassroomLectureNotes(Draft,tobeimproved)ByWangZekeLnswzk@zsu.edu.cnBasedonIntermediateMicroeconomics,byHalR.Varian,FifthEdition,referringtoPriceTheoryandApplications,byJackHirshleiferandAmihaiGlazer,FourthEdition.You’dbettertothin

2、kitastheFirststepofacademictraininginEconomicsTips:EssentialcontentsaremainlyatornearfiguresPayattentiontographicallyproblem-solvingWewillfocusonshort-runstudy,andleaveyoudiscretecasesItemwithstars,suchas*NashTheorem,areoptionalChapter0EconomicsThesourceofalleconomicproblemsisscar

3、city.Thusproblemsoftrade-off,andchoice.Economics,asawayofthinking,asadismalscience.Problems-solutions-hiddenconsequences.Maindecision-makingagents:individuals(household),firms,andgovernments.Objectsofeconomicchoicearebasicallycommodities,includinggoodsandservices.Maineconomicactiv

4、ities:consumption,production,andexchange.Microeconomicsandmacroeconomics:toshowtheinvisiblehandandtosupplementit.Thecircularflowofeconomicactivities.Theproductmarketandthefactormarket.Themarketrelationismutualandvoluntary.Positiveissuesandnormativeissues.Marginalanalysis.Relations

5、betweentotal,average,andmarginalmagnitudes:MMistheslopeoftheTMcurve;AMistheslopeoftherayfromtheorigintothepointattheTMcurve.Thus,1,TMincreasing(decreasing)ifandonlyifMM>0(MM<0);2,IfTMisatmaximumorminimum,thenMM=0;and3,AMincreasing(decreasing)ifandonlyifMM>AM(MM

6、umorminimum,thenMM=AM,OrMMcutsAMatthelatter’smaximumorminimum.Chapter1TheMarketEconomicsproceedsbydevelopingModelsofsocialphenomena.Byamodelwemeanasimplifiedrepresentationofreality.(Example:Marketofapartments)Exogenousvariables,takenasdeterminedbyfactorsnotdiscussedinamodel,versus

7、endogenousvariables,determinedbyforcesdescribedinthemodel.Theoptimizationprinciple:Peopletrytochoosewhat’sbestforthem.Theequilibriumprinciple:Pricesadjustuntildemandandsupplyareequal.Thedemandcurve:acurvethatrelatesthequantitydemandedtoprice.Thereservationprice:one’smaximumwilling

8、nesstopayforsomething.Frompeople'