微观经济学：现代观点原版PPT(英文)第一章ppt课件.ppt

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1、ChapterOneTheMarketTheTheoryofEconomicsdoesnotfurnishabodyofsettledconclusionsimmediatelyapplicabletopolicy.Itisamethodratherthanadoctrine,anapparatusofthemind,atechniqueofthinkingwhichhelpsitspossessortodrawcorrectconclusions---JohnMaynardKey

2、nesEconomicModelingWhatcauseswhatineconomicsystems?Atwhatlevelofdetailshallwemodelaneconomicphenomenon?Whichvariablesaredeterminedoutsidethemodel(exogenous)andwhicharetobedeterminedbythemodel(endogenous)?ModelingtheApartmentMarketHowareapartmentrentsd

3、etermined?Supposeapartmentsarecloseordistant,butotherwiseidenticaldistantapartmentsrentsareexogenousandknownmanypotentialrentersandlandlordsModelingtheApartmentMarketWhowillrentcloseapartments?Atwhatprice?Willtheallocationofapartmentsbedesirableinanys

4、ense?Howcanweconstructaninsightfulmodeltoanswerthesequestions?EconomicModelingAssumptionsTwobasicpostulates:RationalChoice:Eachpersontriestochoosethebestalternativeavailabletohimorher.Equilibrium:Marketpriceadjustsuntilquantitydemandedequalsquantitysu

5、pplied.ModelingApartmentDemandDemand:Supposethemostanyonepersoniswillingtopaytorentacloseapartmentis$500/month.Thenp=$500QD=1.Supposethepricehastodropto$490beforea2ndpersonwouldrent.Thenp=$490QD=2.ModelingApartmentDemandTheloweristherentalratep,thel

6、argeristhequantityofcloseapartmentsdemandedpQD.Thequantitydemandedvs.pricegraphisthemarketdemandcurveforcloseapartments.MarketDemandCurveforApartmentspQDModelingApartmentSupplySupply:Ittakestimetobuildmorecloseapartmentssointhisshort-runthequantit

7、yavailableisfixed(atsay100).MarketSupplyCurveforApartmentspQS100CompetitiveMarketEquilibrium“low”rentalpricequantitydemandedofcloseapartmentsexceedsquantityavailablepricewillrise.“high”rentalpricequantitydemandedlessthanquantityavailablepricewillf

8、all.CompetitiveMarketEquilibriumQuantitydemanded=quantityavailablepricewillneitherrisenorfallsothemarketisatacompetitiveequilibrium.CompetitiveMarketEquilibriumpQD,QS100CompetitiveMarketEquilibriumpQD,QSpe100CompetitiveMarketEquilibriumpQD,QS