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ID:55625388
大小:7.50 MB
页数:1498页
时间:2020-05-21
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1、ChapterOneTheMarketTheTheoryofEconomicsdoesnotfurnishabodyofsettledconclusionsimmediatelyapplicabletopolicy.Itisamethodratherthanadoctrine,anapparatusofthemind,atechniqueofthinkingwhichhelpsitspossessortodrawcorrectconclusions---JohnMaynardKeyne
2、sEconomicModelingWhatcauseswhatineconomicsystems?Atwhatlevelofdetailshallwemodelaneconomicphenomenon?Whichvariablesaredeterminedoutsidethemodel(exogenous)andwhicharetobedeterminedbythemodel(endogenous)?ModelingtheApartmentMarketHowareapartmentrentsdeter
3、mined?Supposeapartmentsarecloseordistant,butotherwiseidenticaldistantapartmentsrentsareexogenousandknownmanypotentialrentersandlandlordsModelingtheApartmentMarketWhowillrentcloseapartments?Atwhatprice?Willtheallocationofapartmentsbedesirableinanysense?H
4、owcanweconstructaninsightfulmodeltoanswerthesequestions?EconomicModelingAssumptionsTwobasicpostulates:RationalChoice:Eachpersontriestochoosethebestalternativeavailabletohimorher.Equilibrium:Marketpriceadjustsuntilquantitydemandedequalsquantitysupplied.M
5、odelingApartmentDemandDemand:Supposethemostanyonepersoniswillingtopaytorentacloseapartmentis$500/month.Thenp=$500QD=1.Supposethepricehastodropto$490beforea2ndpersonwouldrent.Thenp=$490QD=2.ModelingApartmentDemandTheloweristherentalratep,thelargeristhe
6、quantityofcloseapartmentsdemandedpQD.Thequantitydemandedvs.pricegraphisthemarketdemandcurveforcloseapartments.MarketDemandCurveforApartmentspQDModelingApartmentSupplySupply:Ittakestimetobuildmorecloseapartmentssointhisshort-runthequantityavailableis
7、fixed(atsay100).MarketSupplyCurveforApartmentspQS100CompetitiveMarketEquilibrium“low”rentalpricequantitydemandedofcloseapartmentsexceedsquantityavailablepricewillrise.“high”rentalpricequantitydemandedlessthanquantityavailablepricewillfall.Competitiv
8、eMarketEquilibriumQuantitydemanded=quantityavailablepricewillneitherrisenorfallsothemarketisatacompetitiveequilibrium.CompetitiveMarketEquilibriumpQD,QS100CompetitiveMarketEquilibriumpQD,QSpe100CompetitiveMarketEquilibriumpQD,QS
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