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’dbet

2、tertothinkitastheFirststepofacademictraininginEconomicsTips:EssentialcontentsaremainlyatornearfiguresPayattentiontographicallyproblem-solvingWewillfocusonshort-runstudy,andleaveyoudiscretecasesItemwithstars,suchas*NashTheorem,areoptionalChapter0EconomicsThesourceofallecon

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

4、dservices.Maineconomicactivities:consumption,production,andexchange.Microeconomicsandmacroeconomics:toshowtheinvisiblehandandtosupplementit.Thecircularflowofeconomicactivities.Theproductmarketandthefactormarket.Themarketrelationismutualandvoluntary.Positiveissuesandnormat

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

6、asing)ifandonlyifMM>AM(MM

7、,takenasdeterminedbyfactorsnotdiscussedinamodel,versusendogenousvariables,determinedbyforcesdescribedinthemodel.Theoptimizationprinciple:Peopletrytochoosewhat’sbestforthem.Theequilibriumprinciple:Pricesadjustuntildemandandsupplyareequal.Thedemandcurve:acurvethatrelatesthe

8、quantitydemandedtoprice.Thereservationprice:one’smaximumwillingnesstopayforsomething.Frompeople'