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时间:2020-10-05
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1、2PRINCIPLESOFFOURTHEDITIONThinkingLikeAnEconomistCHAPTER2THINKINGLIKEANECONOMISTInthischapter,lookfortheanswerstothesequestions:Whatareeconomists’tworoles?Howdotheydiffer?Whataremodels?Howdoeconomistsusethem?WhataretheelementsoftheCircular-FlowDiagram?Whatconceptsdoesthediagramillustrate?Howis
2、theProductionPossibilitiesFrontierrelatedtoopportunitycost?Whatotherconceptsdoesitillustrate?Whatisthedifferencebetweenmicroeconomicsandmacroeconomics?Betweenpositiveandnormative?CHAPTER2THINKINGLIKEANECONOMISTTheEconomistasScientistEconomistsplaytworoles:Scientists:trytoexplaintheworldPolicy
3、advisors:trytoimproveitInthefirst,economistsemploythescientificmethod,thedispassionatedevelopmentandtestingoftheoriesabouthowtheworldworks.CHAPTER2THINKINGLIKEANECONOMISTAssumptions&ModelsAssumptionssimplifythecomplexworld,makeiteasiertounderstand.Example:Tostudyinternationaltrade,assumetwo
4、countriesandtwogoods.Unrealistic,butsimpletolearnandgivesusefulinsightsabouttherealworld.Model:ahighlysimplifiedrepresentationofamorecomplicatedreality.Economistsusemodelstostudyeconomicissues.CHAPTER2THINKINGLIKEANECONOMISTSomeFamiliarModelsAroadmapCHAPTER2THINKINGLIKEANECONOMISTSomeFamil
5、iarModelsAmodelofhumananatomyfromhighschoolbiologyclassCHAPTER2THINKINGLIKEANECONOMISTSomeFamiliarModelsAmodelairplaneCHAPTER2THINKINGLIKEANECONOMISTSomeFamiliarModelsThemodelteethatthedentist’sofficeDon’tforgettofloss!CHAPTER2THINKINGLIKEANECONOMISTOurFirstModel:TheCircular-FlowDiagramTheCi
6、rcular-FlowDiagram:Avisualmodeloftheeconomy,showshowdollarsflowthroughmarketsamonghouseholdsandfirms.Twotypesof“actors”:householdsfirmsTwomarkets:themarketforgoodsandservicesthemarketfor“factorsofproduction”CHAPTER2THINKINGLIKEANECONOMISTFactorsofProductionFactorsofproduction:theresourcestheec
7、onomyusestoproducegoods&services,includinglaborlandcapital(buildings&machinesusedinproduction)FIGURE1:TheCircular-FlowDiagramHouseholds:ownthefactorsofproduction,sell/rentthemtofirmsforincomebuyandconsumegoods&servicesHouseholdsFirmsCH
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