西方经济学(宏观经济学)论文中英对照

词汇表(备查)微观经济学词汇宏观经济学词汇微观经济学(Microeconomic)需求（D）Demand供给（S）Supply价格（P）Price产量（Q）Quantity均衡（E）Equilibrium弹性（E）Elastic ity平均A verage边际Marginal成本Cost收益Revenue总Total效用Utility边际效用（MU）长期平均成本(LAC)短期平均成本(SAC)总成本（TC）固定成本(FC) Fixed cost)平均固定成本（AFC）可变成本（VC）V ariable cost）平均可变成本（A VC）平均成本（AC）边际成本（MC）平均收益（AR）边际收益（MR）边际产品（MR）Marginal Revenue劳动（L）Labor force收入（I）Income宏观经济学(Macroeconomics) 国民生产总值Gross National Product国内生产总值Gross Domestic Product总需求（AD）Aggregate demand总供给（AS）Aggregate supply消费（C）Consumption投资（I）Investment政府支出（G）Government expenditure出口Exports净出口（Nx）Net Export货币Money边际消费倾向（MPC）Marginal propensity of consume 边际储蓄倾向（MPS）Marginal propensity of save边际进口倾向(MPm) Marginal propensity to import汇率Exchange rate预期Expectation。

西方经济学与东方的道德价值观英语作文全文共3篇示例，供读者参考篇1Western economics and Eastern ethical values are two distinct paradigms that have shaped the way individuals and societies interact with the world around them. While Western economics is rooted in theories of capitalism, individualism, and free markets, Eastern ethical values emphasize concepts of harmony, collectivism, and virtue. Despite their differences, both perspectives offer valuable insights into how we can navigate the complexities of a globalized world.Western economics, with its focus on efficiency, competition, and profit maximization, has undoubtedly brought about significant economic growth and development. The principles of supply and demand, market equilibrium, and rationaldecision-making have guided policymakers and business leaders in shaping economic policy and driving innovation. The invisible hand of the market, as famously described by Adam Smith, has served as a powerful metaphor for the idea that individualself-interest can lead to the collective good.On the other hand, Eastern ethical values place a strong emphasis on relationships, empathy, and social responsibility. Confucianism, Buddhism, and Taoism, among other Eastern philosophies, advocate for principles such as respect for elders, filial piety, and compassion for all living beings. These values have played a crucial role in shaping social norms and cultural practices in many Eastern societies, promoting harmony and cooperation over competition and individualism.While Western economics and Eastern ethical values may seem incompatible at first glance, there are ways in which these two perspectives can complement each other. For example, the concept of sustainable development, which seeks to balance economic growth with environmental protection and social equity, resonates with both Western economic principles of long-term planning and Eastern ethical values of stewardship and interconnectedness.Moreover, recent research in behavioral economics has highlighted the importance of psychological factors, such as emotions, biases, and social norms, in shaping economic decision-making. This interdisciplinary approach draws on insights from both Western economics and Eastern ethical valuesto offer a more nuanced understanding of human behavior and decision-making.In conclusion, Western economics and Eastern ethical values each offer unique perspectives on how we can create a more equitable and sustainable world. By integrating these two paradigms and recognizing the complementary nature of their insights, we can work towards a more holistic approach to economic development that considers both economic efficiency and ethical responsibility. Ultimately, by bridging the gap between Western economics and Eastern ethical values, we can build a more inclusive and compassionate society that values the well-being of all individuals and respects the interconnectedness of our global community.篇2Western economics and Eastern moral values have long been perceived as two distinct and often conflicting ideologies. Western economics, with its emphasis on free market capitalism and individualism, focuses on efficiency, competition, and profit maximization. On the other hand, Eastern moral values, deeply rooted in Confucianism, Buddhism, and Taoism, prioritize harmony, collectivism, and social responsibility.The divergence between Western economics and Eastern moral values can be seen in various aspects, such as the role of the government in the economy, the concept of value creation, and the pursuit of wealth and happiness. In Western economics, the government is often seen as a regulator and promoter of market efficiency, while Eastern moral values emphasize the importance of government intervention to ensure social equity and stability. Additionally, Western economics tends to measure value in terms of economic output and material possessions, while Eastern moral values prioritize spiritual well-being, social relationships, and personal growth.Despite these differences, there is a growing recognition of the need to bridge the gap between Western economics and Eastern moral values to create a more balanced and sustainable world. In recent years, there has been a rise in the field of "Buddhist economics," which advocates for a more holistic approach to economic development that takes into account spiritual well-being, social justice, and environmental sustainability.Furthermore, many Western economists are beginning to incorporate Eastern moral values into their economic theories and practices. For example, the concept of "socialentrepreneurship" has gained popularity in the West, which combines business principles with a focus on social and environmental impact. This approach aligns with Eastern moral values, which emphasize the importance of using wealth and power for the greater good of society.In conclusion, while Western economics and Eastern moral values may have different perspectives and priorities, there is potential for collaboration and mutual enrichment between the two. By integrating the best practices and principles of both ideologies, we can create a more inclusive and sustainable economic system that benefits individuals, communities, and the planet as a whole. It is only through a harmonious blend of Western economics and Eastern moral values that we can truly achieve a prosperous and just society.篇3In recent years, there has been much discussion and debate about the differences between Western economics and Eastern moral values. While Western economics tends to focus on capitalism, competition, and individualism, Eastern moral values often prioritize cooperation, harmony, and collectivism. This dichotomy between the two schools of thought has led toquestions about whether they can coexist or if one should take precedence over the other.Western economics, as espoused by figures such as Adam Smith and Milton Friedman, emphasizes the importance of market forces, self-interest, and minimal government intervention. The invisible hand of the market, according to Smith, guides economic activity towards the most efficient outcome for society. Capitalism and free markets are seen as the best ways to allocate resources and create wealth. Competition, in this view, drives innovation, economic growth, and prosperity.In contrast, Eastern moral values, as seen in traditional Chinese, Indian, and other Eastern philosophies, prioritize virtues such as humility, respect for authority, and the greater good of society. Concepts such as Confucianism and Buddhism emphasize the importance of social harmony, filial piety, and ethical behavior. Collectivism and cooperation are seen as crucial for maintaining social order and stability.The tension between Western economics and Eastern moral values has become increasingly visible in today's globalized world. Western capitalism has spread around the globe, leading to increased wealth and economic growth in many developing countries. However, this has also led to income inequality,environmental degradation, and social unrest. Many critics argue that the pursuit of profit at all costs has come at the expense of social welfare, cultural values, and ethical considerations.On the other hand, some argue that Eastern moral values can offer a counterbalance to the excesses of Western capitalism. By emphasizing social responsibility, empathy, and community support, Eastern philosophies can help address the negative impacts of free-market capitalism. For example, the concept of "harmonious society" in Chinese philosophy promotes the idea of balancing economic development with social equality and environmental sustainability.Ultimately, the question of how to reconcile Western economics with Eastern moral values is a complex and ongoing debate. Some advocate for a fusion of both perspectives, incorporating elements of individualism and competition with collectivism and cooperation. Others argue for a reevaluation of economic systems and policies to better reflect ethical considerations and social values.In conclusion, the relationship between Western economics and Eastern moral values is a multifaceted issue that requires careful consideration and dialogue. By exploring the strengths and weaknesses of both perspectives, we can work towardscreating a more just, sustainable, and prosperous society that benefits all individuals and communities.。

西方经济学英文Introduction:Western Economics is among the most important branches of economics that have contributed to the growth and development of the global economy. It is the study of how societies use resources to produce goods and services for consumption. The primary focus of Western economics is on the behavior of individuals, businesses, governments, and other organizations and how they interact with each other to create and manage economic systems. In this document, we will explore the history and evolution of Western economics, its fundamental principles and theories, as well as its impact on modern society.History and evolution of western economics:The history of Western economics dates back to ancient Greece, where prominent philosophers like Aristotle studied economic principles related to trade, money, and political systems. However, it was not until the 18th century when Westerneconomics started to emerge as a distinct area of study with the publication of "Wealth of Nations," by Adam Smith. This seminal work focused on the concept of “invisible hand” which argued that, when individuals pursue their self-interest through trade, free markets could, in theory, be self-regulating and result in economic growth, increased productivity and wealth creation.Over time, Western economics continued to evolve, and significant contributions came from notable economists such as David Ricardo, Thomas Malthus, and John Stuart Mill. According to the labor theory of value developed by David Ricardo, prices of goods and services are determined by the amount of labor required to produce them. Malthus's theory of population argued that, while population growth will outstrip food production leading to hunger and poverty in the long run, Mill'sclassical theory of economics focused on the interplay of supply and demand.Modern Western economics and its principles and theories:In the late 19th century, Western economics started incorporating rigorous empirical methods of study and adopted mathematical tools for analyzing economic phenomena. Economists like Alfred Marshall took an interdisciplinary approach that incorporated psychology and other social sciences to better understand human behavior.Currently, Western economics covers a wide range of topics, including microeconomics and macroeconomics, international trade and finance, public finance, economic development, and game theory, among others. Theories such as the theory of comparative advantage, the Keynesian economics, the monetarist theory of inflation, and the concept of the Phillips curve have been essential in shaping decisions on economic policies around the world. Also, game theory, which was developed by John Nash and others, has been instrumental in providing insights into how people interact, providing a basis for strategic decision-making.Impact of Western economics on modern society:Western economics has had a profound impact on modern society, shaping the way people think about and approach economic issues. It has facilitated economic growth and helped in reducing poverty as well as promoting international cooperation and integration through trade. It has been critical to the formation of economic policies, shaping tax structures, labor relations, and contributing to the growth of different industries.Moreover, Western economics has had broader implications, such as providing a framework for analyzing the relationship between economic growth and environmental sustainability. It has also contributed to the development of the welfare state, where governments intervene in the economy to provide social services such as healthcare, education, and welfare programs.Conclusion:Western economics has been integral in shaping our understanding of how markets work and how resources are allocated in society. Its contributions to economic thought have beensubstantial, and its influence continues to shape the modern world. By providing policymakers with critical insights on economic phenomena and offering practical solutions, Western economics remains an essential tool in shaping and driving economic development and progress.。

The Problem of Social Cost社会成本问题RONALD COASE罗纳德·科斯Ronald Coase is Professor Emeritus at University of Chicago LawSchool and a Nobel Laureate in Economics. This article is fromThe Journal of Law and Economics (October 1960). Several passages devoted to extended discussions of legal decisionshave been omitted.罗纳德·科斯在芝加哥大学法学院名誉教授和诺贝尔经济学奖得主。

本文是其外法学与经济学杂志（1960年10月）。

专门的法律问题的决定的延伸讨论的几个段落已被省略。

I.THE PROBLEM TO BE EXAMINEDThis paper is concerned with those actions of business firms which have harm-ful effects on others. The standard example is that of a factory the smoke from which has harmful effects on those occupying neighbouring properties. The economic analysisof such a situation has usually proceeded in terms of a divergence between the private and social product of the factory, in which economists have largely followed the treatment of Pigou in The Economies of Welfare. The conclusion to which this kind of analysis seems to have led most economists is that it would be desirable to make the owner of the factory li-able for the damage caused to those injured by the smoke, or alternatively, to place a tax on the factory owner varying with the amount of smoke produced and equivalent in money terms to the damage it would cause, or finally, to exclude the factory from residential districts (and presumably from other areas in which the emission of smoke would have harmful effects on others). It is my contention that the suggested courses of action are inappropriate, in that they lead to results which are not necessarily, or even usually, desirable.一、要检查的问题本文关注的是这些行动的企业有伤害他人有用的影响。

英文宏观经济学论文Macroeconomics is the branch of economics that studies the behavior and performance of an economy as a whole. It focuses on the aggregate aspects of the economy, such as total output, unemployment, inflation, and national income. Macroeconomists analyze how different factors, such as government policies, international trade, and financial markets, affect the overall health and stability of the economy.One of the key concepts in macroeconomics is Gross Domestic Product (GDP), which measures the total value of all goods and services produced in a country within a given time period. GDP is used to gauge the size and growth of an economy, and it is also a key indicator of the standard of living and economic well-being of a nation.Unemployment is another important area of study in macroeconomics. High unemployment rates can signal economic distress and can have negative social and economic implications. Macroeconomists study the causes and consequences of unemployment, as well as the effectiveness of government policies in reducing unemployment and stimulating job growth.Inflation is a related topic that is of great concern to macroeconomists. Inflation refers to the general increase in prices of goods and services over time, which erodes the purchasing power of money. Macroeconomists analyze the factors that contribute to inflation, such as changes in the money supply or fluctuations in demand and supply, and they also study the impact of inflation on the economy and on individuals.Macroeconomics also examines the role of government policies in stabilizing and managing the economy. Fiscal policy, which involves government spending and taxation, and monetary policy, which involves controlling the money supply and interest rates, are two key tools that policymakers use to influence economic conditions. Macroeconomists evaluate the effectiveness of these policies and explore their implications for economic growth, unemployment, and inflation.International trade and finance are also important areas of study in macroeconomics. Macroeconomists analyze the impact of trade policies and exchange rate movements on the economy, as well as the implications of global economic events on domestic economic conditions.Overall, macroeconomics is a broad and complex field that seeksto understand the behavior of the economy as a whole. By studying aggregate economic indicators and the interplay of different factors, macroeconomists aim to provide insights into how the economy functions and how it can be managed to promote stability and growth.另一个宏观经济学的重要方面是经济增长。

1.Microeconomics 微观经济学2.Macroeconomics 宏观经济学3.Primary sector 第一产业4.Secondary sector 第二产业5.Tertiary sector 第三产业6.Opportunity cost 机会成本7.Scarcity 稀缺8.Production possibility frontier 生产可能性边界9.Production possibility curve 生产可能性曲线10.Factors of production 生产要素11.Demand 需求12.Demand curve 需求曲线13.Supply 供给14.Supply curve 供给曲线15.Marginal utility边际效用16.Total utility总效用17.Elasticity 弹性18.Price elasticity of demand 需求的价格弹性19.Cross elasticity of demand 需求的交叉弹性20.Income elasticity of demand 需求的收入弹性21.Equilibrium 均衡22.Equilibrium price 均衡价格23.Short run短期24.Long run长期25.Consumer surplus消费者剩余26.Producer surplus生产者剩余27.Externalities外部性28.negative externalities 负的外部性29.positive externalities 正的外部性30.the law of diminishing marginal utility 边际效用递减规律31.budget line 预算线32.Marginal 边际33.Marginal cost 边际成本34.Marginal revenue边际收益35.Merit goods 有益品36.Demerit goods 有害品37.public goods公共品38.quasi-public goods 准公共品39.private goods 私有品40.moral hazard 道德危险41.adverse selection 逆向选择42.Average 平均43.Average product 平均产量44.fixed costs 固定成本45.variable costs 可变成本46.average costs 平均成本47.diseconomy of scale规模不经济48.specialization 专业化49.Cost minimization 成本最小化50.Input投入51.Normal profit正常利润52.Abnormal profit超额利润53.Productive efficiency 生产效率54.Perfect competition完全竞争55.Monopoly垄断56.barrier to entry 进入障碍57.Product differentiation差异产品58.Monopolistic competition 垄断竞争59.Price discrimination 价格歧视60.oligopoly 寡头61.Duopoly双寡头62.Nash equilibrium纳什均衡63.Game theory 博弈论64.Marginal product of labour 劳动的边际产量65.Demand for labour 对劳动力的需求66.Aggregate demand 总需求67.Marginal cost of labour 劳动的边际成本68.Elasticity of demand for labor 劳动力的需求弹性69.Paradox of thrift 节约悖论70.Price level 价格水平71.Trade unions 行会，商会72.Perfectly competitive labour market 完全竞争劳动力市场73.Transfer earnings 转让收益74.Gross Domestic Product 国内生产总值75.Gross National Product 国民生产总值76.money GDP 名义GDP77.real GDP 实际GDP78.Aggregate supply 总供给79.nominal value 名义价值80.real value 实际价值81.Injections 注入82.Withdrawals 漏出83.Consumption 消费84.budget deficit 预算赤字85.budget surplus 预算盈余86.balanced budget 均衡预算87.Keynesians 凯恩斯主义学派88.Monetarists 货币主义学派89.Savings 储蓄90.average propensity to consume 平均消费倾向91.average propensity to save 平均储蓄倾向92.marginal propensity to consume 边际消费倾向93.marginal propensity to save 边际储蓄倾向94.Investment 投资ernment spending 政府支出96.export 出口97.import 进口98.Accelerator 加速器99.Interest 利息率100.The multiplier乘数101.Full employments完全就业102.balance of payments 国际收支平衡表103.deficit赤字104.surplus 盈余105.Demand side policies 需求方面政策106.Supply side policies 供给方面政策107.Reflationary policies 再膨胀政策108.Deflationary policies 通货紧缩政策109.inflation 通货膨胀110.deflation 通货紧缩111.Inflationary gap通货膨胀缺口112.Deflationary gap通货紧缩缺口113.Automatic stabilizer自动稳定器114.Expansionary police扩张政策115.Contractionary policy紧缩政策116.Keynesian fiscal policy凯恩斯财政政策117.fiscal policy 财政政策118.monetary policy 货币政策119.exchange policy 汇率政策120.liquidity trap 流动性陷进121.transaction motive 交易动机122.precautionary motive 预防动机123.speculative motive 投机动机124.cost-push inflation 成本推动型的通货膨胀125.retail price index 零售价格指数126.redistribution of income 收入再分配127.new classical 新古典主义128.absolute advantage 绝对优势parative advantage相对优势130.free trade自由贸易131.economies of scale规模经济132.quotas 配额133.exchange controls外汇管制134.infant industry 幼稚工业135.Tariff关税136.free trade area自由贸易区137.custom union关税同盟138.economic union 经济同盟139.dumping倾销140.Trade creation贸易创造141.trade diversion 贸易转移。

To Spend or to Save? Trick QuestionIt’s your fault. Part of it is, anyway. You, the American consumer,spent too much money. You bought too much house, took on too much debt and generally lived beyond your means. Yourfree-spending ways helped cause the worst financial crisis since theGreat Depression.And now you’re going to have to do your part to end the crisis. How? By spending. Enough already with the saving that many of you have suddenly begun doing. This very moment, Congress and President Obama are preparing to send you a tax rebate, to inspire you to stimulate the economy. So go out and stimulate. Spend as if the future of your country depended on it.John Maynard Keynes, the great 20th-century economist, would have appreciated the apparent absurdity in these mixed messages. He coined a phrase, “the paradox of thrift,” to point out that what was rational for an individual during hard times — saving money —could be ruinous for an entire economy. Eventually, many of the savers may end up out of work because everyone else is saving, too. It’s enough to make you wonder what exactly you’re supposed to do. At his news conference on Monday night, Mr. Obama was asked directly whether people should spend or save their rebate checks. He ducked the question.Fortunately, though, it has an answer. There are a few ways to helpboth your own finances and the country’s.The first involves figuring out how to spend money now to savemoney later — which can lift the economy today and helpindividual households cope with their battered finances in the long run. The second involves realizing that Keynes’s paradox isn’t ironclad. In a financial crisis, when banks may need capital as much as retailers or restaurants need business, many people can save without guilt.What follows is a guide to spending and saving, both sensibly andpatriotically.Besides developing the most famous prescription for curing downturns, Keynes can also be considered the godfather ofbehavioral economics, as the columnist David Ignatius recently wrote. While other economists obsessed over statistical models that treated people as hyperrational automatons, Keynes wrote about “animal spirits.” He helped explain how psychology shaped economics.Psychology-tinged economics — that is, behavioral economics —has taken off over the last two decades, and one of its central findings is that most people do not do a good job of planning for the future. They aren’t nearly as nice to their “future self,” as economists say, as to their “present self.”They eat just one more doughnut and put off exercising until tomorrow and tomorrow and tomorrow. They fail to set aside enough for retirement. Again and again, they choose a bird in the hand — be it dessert, convenience or a little extra cash — over three or four in the bush.These habits end up causing a lot of trouble. But they also present an opportunity in a time like this. Most people could save themselves a good bit of money by giving proper respect to their future self. They could spend a little now and save a lot later. McKinsey & pany recently analyzed household spending on energy, for example, and found enormous waste. People heat their homes when they are not there and, thanks to leaks in their walls and heating ducts, also heat the airspace above their roof.A programmable thermostat, which adjusts the temperature when people are out of the house or asleep, can cost as little as $50. For less than $1,000, people can buy the thermostat, as well as hire a contractor to fix leaks and replace their light bulbs with more efficient ones. In either case, the spending often pays for itself in just a year or two.“There is a difference between consuming and investing,” says Ken Ostrowski of McKinsey. “And energy efficiency falls more into the category of inves ting.”I asked behavioral economists for some other examples, and they helped me e up with a nice little list. Parents of young children can join Costco and make up their membership fee with just a few months of diaper purchases. Drivers can inflate their tires, change their air and fuel filters and start getting better mileage. Frequentbook buyers who don’t mind screen reading can buy the new Kindle. It costs $359, but most new books then cost less than $10. Families who shop at rent-to-own stores, which charge ridiculous interest rates, can temporarily pare back and then buy furniture or electronics outright.People who do a lot of laser printing can purchase a printer that uses only a cent or two of ink per page. (Many use far, far more.) Purified water drinkers can lay off the Aquafina and buy a water filter. Seltzer drinkers can buy a seltzer maker. My wife and I now have one, and it is a beautiful thing indeed.In these cases — and, no doubt, many others — the initial investment tends to pay off quickly, sometimes in mere months. That’s why such spending is perfectly suited to the moment. It will keep people employed or create new jobs when the economy needs the help. But it will also shore up households’ finances.The one big caveat is that some p eople will feel that they can’t afford to lay out an extra $50 or $100 right now. Millions of workers have already lost their jobs, and many others simply want to cut back. In December, households saved an average of 3.6 percent of their disposable ine, up from about 1 percent in recent years.In a normal recession, this new saving would have a lot more downside than upside, just as Keynes explained. But this recession is different. It has been caused by a financial crisis. If Americans don’t get their fina nces in better shape — if mortgage defaults keep rising and credit card delinquencies soar — banks will remain afraid to lend, and the recession will linger.Even more immediately, banks need to get their own finances in order. That’s the whole aim of the new bailout plan announced by the Treasury Department on Tuesday. Some additional personal savings can only help that effort.“The government is pouring hundreds of billion of dollars into banks,” said Richard Thaler, a University of Chicago economist. “What’s so bad about households pouring some money into banks?”The ideas here don’t apply only to individuals, either. They apply to the stimulus package as well. The federal government is set to spend $800 billion to stimulate the economy. Much of that money will necessarily go to tax rebates, unemployment benefits and other programs without much long-term benefit. But $800 billion is a lot of money. And the best forms of stimulus are the ones that take effect quickly and bring a long-term payoff. That can mean tax credits for home weatherization or money to pay for the installation of puterized medical records — two programs that are still in the stimulus bill.Whenever this recession finally ends, our future selves are going to be facing some very big bills. They can use all the help we can give them.花钱还是存钱？难解的问题。

经济学英文论文及翻译范文Economics is a field that is constantly evolving and changing, and the study of economics involves a deep understanding of how individuals, businesses, and governments make decisions about how to allocate resources. This paper will explore the concepts of supply and demand, elasticity, and market structures, and their impact on the economy.The concept of supply and demand is a fundamental principle in economics, and it refers to the relationship between the quantity of a good that producers are willing to sell and the quantity that consumers are willing to buy. When demand for a good increases, the price tends to rise, and when demand decreases, the price tends to fall. On the other hand, when supply increases, the price tends to fall, and when supply decreases, the price tends to rise. This interaction between supply and demand determines the equilibrium price and quantity of a good in a market.Elasticity is a measure of how much the quantity demanded of a good responds to a change in price. The price elasticity of demand measures the responsiveness of the quantity demanded to a change in price, and it is calculated as the percentage change in quantity demanded divided by the percentage change in price. If the price elasticity of demand is greater than 1, it is considered to be elastic, meaning that a small change in price leads to a relatively large change in quantity demanded. Conversely, if the price elasticity of demand is less than 1, it is considered to be inelastic, meaning that a change in price leads to a relatively small change in quantity demanded.Market structures refer to the characteristics of a market that affect the behavior of firms and the outcomes of the market. There arefour main types of market structures: perfect competition, monopolistic competition, oligopoly, and monopoly. In a perfectly competitive market, there are many small firms selling identical products, and there are no barriers to entry or exit. Monopolistic competition is similar to perfect competition, but firms sell differentiated products. In an oligopoly, a few large firms dominate the market, and there are significant barriers to entry. A monopolyis a market with only one seller, and there are high barriers to entry. In conclusion, the concepts of supply and demand, elasticity, and market structures play a crucial role in shaping the economy. Understanding how these concepts interact and influence eachother is essential for policymakers and businesses to make informed decisions that can lead to a more efficient allocation of resources and a more prosperous economy.翻译范文如下：经济学是一个不断发展和变化的领域，经济学的研究涉及对个人、企业和政府如何做出关于资源配置的决策有着深刻的理解。

西方经济学词汇表AAbility-to-pay principle(of taxation)(税收的)支付能力原则按照纳税人支付能力确定纳税负担的原则。

纳税人支付能力依据其收入或财富来衡量。

这一原则并不说明某经济状况较好的人到底该比别人多负担多少。

Absolute advantage(in international trade) (国际贸易中的)绝对优势A国所具有的比B国能更加有效地(即单位投入的产出水平比较高等)生产某种商品的能力。

这种优势并不意味着A国必然能将该商品成功地出口到B国。

因为B国还可能有一种我们所说的比较优势或曰比较利益(comparative advantage)。

Accelerator principle 加速原理解释产出率变动同方向地引致投资需求变动的理论。

Actual，cyclical，and structural budget 实际预算、周期预算和结构预算实际预算的赤字或盈余指的是某年份实际记录的赤字或盈余。

实际预算可划分成结构预算和周期预算。

结构预算假定经济在潜在产出水平上运行，并据此测算该经济条件下的政府税人、支出和赤字等指标。

周期预算基于所预测的商业周期(及其经济波动)对预算的影响。

Adaptive expectations 适应性预期见预期(expectations)。

Adjustable peg 可调整钉住一种(固定)汇率制度。

在该制度下，各国货币对其他货币保持一种固定的或曰“钉住的”汇率。

当某些基本因素发生变动、原先汇率失去合理依据的时候，这种汇率便不时地趋于调整。

在1944—1971年期间，世界各主要货币都普遍实行这种制度，称为“布雷顿森林体系”。

Administered(or inflexible)prices 管理(或非浮动)价格特指某类价格的术语。

按照有关规定，这类价格在某一段时间内、在若干种交易中能够维持不变。

(见价格浮动，price flexibility)Adverse selection 逆向选择一种市场不灵。

Ladies and gentlemen,Good morning/afternoon/evening. It is a great honor to stand before you today to discuss the fascinating world of Western economics. Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different individuals. Over the centuries, economic thought has evolved significantly, and Western economics, in particular, has played a pivotal role in shaping our understanding of modern economic phenomena. In this speech, I will explore the core principles of Western economics, highlighting the foundational theories that have guided economic policies and practices worldwide.Introduction: The Significance of Western EconomicsWestern economics is a comprehensive discipline that encompasses a wide range of theories, models, and concepts. It has been instrumental in advancing our understanding of market dynamics, economic growth, and policy-making. By examining the principles of Western economics, we can gain insights into how economies function, how individuals make decisions, and how governments can intervene to promote prosperity.The Pillars of Western Economics1. The Concept of ScarcityThe first and foremost principle of Western economics is the concept of scarcity. Scarcity refers to the limited availability of resources in relation to human wants. This fundamental economic problem necessitates the allocation of resources in the most efficient manner possible. As a result, economists emphasize the importance of making rational choices based on the opportunity cost of each alternative.2. The Role of Supply and DemandSupply and demand are the two primary forces that determine the price and quantity of goods and services in a market economy. The law of supply states that, ceteris paribus, as the price of a good increases, the quantity supplied by producers also increases. Conversely, the lawof demand suggests that, ceteris paribus, as the price of a good decreases, the quantity demanded by consumers also decreases. Understanding the interplay between supply and demand is crucial for predicting market outcomes and formulating effective economic policies.3. The Nature of MarketsWestern economics analyzes various types of markets, including perfect competition, monopolistic competition, oligopoly, and monopoly. Each market structure has unique characteristics that affect the behavior of firms and consumers. For instance, in a perfectly competitive market, there are many buyers and sellers, homogeneous products, and free entry and exit, leading to efficient allocation of resources. On the other hand, a monopoly market has a single seller with significant market power, potentially leading to inefficiencies and higher prices.4. The Concept of Opportunity CostOpportunity cost is the value of the next best alternative that is forgone when making a choice. It serves as a guiding principle for individuals, firms, and governments in making rational decisions. By considering the opportunity cost of their actions, economic agents can ensure that they are utilizing their resources in the most productive manner.5. The Role of Government in the EconomyWestern economics acknowledges that markets are not always perfect and that government intervention can be necessary to achieve social welfare. Governments can intervene through fiscal and monetary policies, regulation, and public investment to correct market failures, such as externalities, monopolies, and public goods.6. Key Economic IndicatorsEconomic indicators, such as GDP, unemployment rate, inflation, and interest rates, provide insights into the overall health of an economy. By analyzing these indicators, policymakers and economists can make informed decisions regarding economic stability and growth.Conclusion: The Legacy of Western EconomicsIn conclusion, Western economics has provided us with a robust framework for understanding and analyzing economic phenomena. The foundational theories and principles of Western economics have guided policymakers and businesses in shaping economic policies and practices worldwide. By emphasizing the importance of scarcity, supply and demand, market structures, opportunity cost, government intervention, and economic indicators, Western economics has become an indispensable tool for promoting prosperity and well-being.Ladies and gentlemen, as we continue to navigate the complexities of the global economy, it is crucial that we remain grounded in the principles of Western economics. By doing so, we can ensure that our decisions are informed, rational, and aimed at fostering a more prosperous and equitable society.Thank you for your attention, and I welcome any questions you may have.。

西方经济学名词解释英文版第一章Macroeconomics 宏观经济学The study of the overall aspects and workings of a national economy, such as income, output, and the interrelationship among diverse economic sectors. 研究国民收入的各方面。

Microeconomics 微观经济学The study of the operations of the components of a national economy, such as individual firms, households, and consumers.研究经济中单个因素行为的分析。

GDP 国内生产总值 (Gross Domestic Product)The total market value of all final goods and services producedwithin the borders of a nation during a specified period.一国国民在各行业中一年内生产的最终产品和最终服务价值总和。

It isoften seen as an indicator of the standard of living ina country.Gross Domestic Product,consumption + investment goods + government purchases + net exportsEconomic Growth 经济增长steady growth in the productive capacity of the economy (and so a growth of national income)Real Economic Growth Rate 实际经济增长率A measure of economic growth from one period to another expressed as a percentage and adjusted for inflation (i.e. expressed inreal as opposed to nominal terms). The real economic growth rate isa measure of the rate of change that a nation's gross domestic product (GDP) experiences from one year to another. Gross national product (GNP) can also be used if a nation's economy is heavily dependent on foreign earnings. The real economic growth rate builds onto the economic growth rate by taking into account the effect that inflation has on the economy. The real economic growth rate is a "constant dollar" and therefore a more accurate look at the rate of economic growth because the real rate is not distorted by the effects of extreme inflation or deflation.GDP deflator GDP指数In economics the GDP deflator (implicit price deflator for GDP) is a measure of the change in prices of all new, domestically produced, final goods and services in an economy. GDP stands for gross domestic product the total value of all goods and services produced within that economy during a specified period.Nominal GDP 名义GDPA gross domestic product (GDP) figure that has not been adjusted for inflation.Real GDP 实际GDPThis inflation-adjusted measure that reflects the value of all goods and services produced in a given year, expressed in base-year prices. Often referred to as "constant-price", "inflation-corrected" GDP or "constant dollar GDP". Unlike nominal GDP, real GDP can accountfor changes in the price level, and provide a more accurate figure.Potential output 潜在产量/潜在GDPIn economics, potential output (also refered to as "natural real gross domestic product") refers to the highest level of real Gross Domestic Product output that can be sustained over the long term.GDP Gap GDP缺口The forfeited output of an country's economy resulting from the failure to create sufficient jobs for all those willing to work. A GDP gap denotes the amount of production that is irretrievably lost. The potential for higher production levels is wasted because therearen't enough jobs supplied.(与书异)Net Exports 净出口The value of a country's total exports minus the value of its total imports. It is used to calculate a country's aggregate expenditures, or GDP, in an open economy. In other words, net exports is the amount by which foreign spending on a home country's goods and services exceeds the home country's spending on foreign goods and services.Recession 经济衰退A significant decline in activity spread across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income, and wholesale-retail trade. The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a country's GDP.Notes: Recession is a normal (albeit unpleasant) part of the business cycle. A recession generally lasts from six to eighteen months.Interest rates usually fall in recessionary times to stimulate the economy by offering cheap rates at which to borrow1money.Depression 经济萧条A severe and prolonged recession characterized by inefficient economic productivity, high unemployment, and falling price levels. In times of depression, consumer's confidence and investments decrease, causing the economy to shutdown. Value Added 附加值The enhancement a company gives its product or service beforeoffering the product to customers. This can either increase the products price or value.(与书异)Gross National Product – GNP 国民生产总值An economic statistic that includes GDP, plus any income earned by residents from overseas investments, minus income earned within the domestic economy by overseas residents. GNP is a measure of a country's economic performance, or what its citizens produced (i.e. goods and services) and whether they produced these items within its borders.Disposable Income 可支配收入The amount of after-tax income that is available to divide between spending and personal savings. This also known as your take home pay.Unemployment Rate 失业率The percentage of the total labor force that is unemployed but actively seeking employment and willing to work.Labor force 劳动力the group of people who have a potential for being employed.Frictional Unemployment 摩擦性事业Unemployment that is always present in the economy, resulting from temporary transitions made by workers and employers or from workers and employers having inconsistent or incomplete information.Structural Unemployment 结构性失业Unemployment resulting from changes in the basic composition of the economy. These changes simultaneously open new positions for trained workers.Cyclical Unemployment 周期性失业Unemployment resulting from changes in the business cycle.Natural Unemployment 自然失业率(与书异)The lowest rate of unemployment that an economy can sustain over the long run. Keynesians believe that a government can lower the rate of unemployment (i.e. employ more people) if it were willing to accept a higher level of inflation (the idea behindthe Phillips Curve). However, critics of this say that the effect is temporary and that unemployment would bounce back up but inflation would stay high. Thus, the natural, or equilibrium, rate is the lowest level of unemployment at which inflation remainsstable. Also known as the "non-accelerating inflation rate of unemployment" (NAIRU).Notes: When the economy is said to be at full employment, it is atits natural rate of unemployment. Economists debate how the natural rate might change. For example, some economists think that increasing labor-market flexibility will reduce the natural rate. Other economists dispute the existence of a natural rate altogether!Frictional unemployment — This reflects the fact that it takes time for people to find and settle into new jobs. If 12 individuals each take one month before they start a new job, the aggregate unemployment statistics will record this as a single unemployed worker. Technological change often reduces frictional unemployment, for example: the internet made job searches cheaper and more comprehensive.Structural unemployment — This reflects a mismatch between theskills and other attributes of the labour force and those demanded by employers. If 4 workers each take six months off to re-train before they start a new job, the aggregate unemployment statistics will record this as two unemployed workers. Technological change often increases structural unemployment, for example: technological change might require workers to re-train.Natural rate of unemployment — This is the summation of frictional and structural unemployment. It is the lowest rate of unemployment that a stable economy can expect to achieve, seeing as some frictional and structural unemployment is inevitable. Economists do not agree on the natural rate, with estimates ranging from 1% to 5%, or on its meaning —some associate it with"non-accelerating inflation.The estimated rate varies from countryto country and from time to time. Demand deficient unemployment — In Keynesian economics, any level of unemployment beyond the natural rateis most likely2due to insufficient demand in the overall economy. During a recession, aggregate expenditure is deficient causing theunderutilization of inputs (including labour). Aggregate expenditure (AE) can be increased, according to Keynes, by increasing consumption spending (C), increasing investment spending (I), increasing government spending (G), or increasing the net of exports minus imports (X?M).{AE = C + I + G + (X?M)}Okun's Law 奥昆法则A relationship between an economy's GDP gap and the actual unemployment rate. The relationship is represented by a ratio of 1 to2.5. Thus, for every 1% excess of the natural unemployment rate, a 2.5% GDP gap is predicted.Inflation 通货膨胀The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling.Deflation 通货紧缩 steadily falling pricesA general decline in prices, often caused by a reduction in thesupply of money or credit. Deflation can be caused also by a decrease in government, personal or investment spending. The opposite of inflation,deflation has the side effect of increased unemployment since there is a lower level of demand in the economy, which can lead to an economic depression. Hyperinflation 超级通货膨胀Extremely rapid or out of control inflation.Inflation rate 通货膨胀率In economics, the inflation rate is the rate of increase of the average price level (a measure of inflation). If one likes analogies, the size of a balloon is like the price level, while the inflation rate is how quickly it grows in size. Alternatively, the inflation rate is the rate of decrease in the purchasing power of money.Consumer Price Index (CPI) 消费价格指数The CPI, as it is called, measures the prices of consumer goods and services and is a measure of the pace of US inflation. The US Department of Labor publishes the CPI every month.Demand,pull inflation 需求拉动型通货膨胀inflation due to high demand for GDP and low unemployment, also known as Phillips Curve inflation. Cost,push inflation 成本推动型通货膨胀nowadays termed "supply shock inflation", due to an event such as a sudden increase in the price of oil. Built-in inflation - induced by adaptive expectations, often linked to the "price/wage spiral" because it involves workers tryingto keep their wages up with prices and then employers passing higher costs on to consumers as higher prices as part of a "vicious circle".Built-in inflation reflects events in the past, and so might be seen as hangover inflation. It is also known as"inertial" inflation, "inflationary momentum", and even "structural inflation".Indexing 指数化The adjustment of the weights of assets in an investment portfolio so that its performance matches that of an index. Linking movements of rates to the performance of an index.Notes:1. Indexing is a passive investment strategy. An investor can achieve the same risk and return of an index also by investing in an index fund.2. Types of rates that could be linked to the performance of an index are wage or tax rates.Phillips Curve 菲利普斯曲线An economic concept developed by A. W. Phillips stating thatinflation and unemployment have a stable and inverse relationship. The theory states that with economic growth comes inflation, which in turn should lead to more jobs and less unemployment. The concept has been proven empirically and some government policies are directly influenced by it.第二章Aggregate Demand 总需求The total amount of goods and services demanded in the economy at a given overall price level and in a given time period. It is represented by the aggregate-demand curve, which describes the relationship between price levels and the quantity of output that firms are willing to provide. Normally there is a negative relationship between aggregate demand and the price level. Also3known as "total spending".Notes:Aggregate demand is the demand for the gross domestic product (GDP) of a country, and is represented by this formula: Aggregate Demand (AD) = C + I + G (X-M)C = Consumers' expenditures on goods and services.I = Investment spending by companies on capital goods.G = Government expenditures on publicly provided goods and services.X = Exports of goods and services.M = Imports of goods and services.Aggregate Supply 总供给The total supply of goods and services produced within an economy at a given overall price level in a given time period. It is represented by the aggregate-supply curve, which describes the relationship between price levels and the quantity of output thatfirms are willing to provide. Normally, there is a positive relationship between aggregate supply and the price level. Rising pricesare usually signals for businesses to expand production to meet a higher level of aggregate demand. Also known as "totaloutput".Notes:A shift in aggregate supply can be attributed to a number of variables. These include changes in the size and quality of labor, technological innovations, increase in wages, increase in production costs, changes in producer taxes and subsidies, and changes in inflation. In the short run, aggregate supply responds to higher demand (and prices) by bringing more inputs into the production process and increasing utilization of current inputs. In the long run, however, aggregate supply is not affected by theprice level and is driven only by improvements in productivity and efficiency.Exogenous Variable 外生变量A variable whose value is determined outside the model in which itis used.An economic variable that is related to other economic variables and determines their equilibrium levels. For example, rainfall is exogenous to the causal system constituting the process offarming and crop output. An exogenous variable by definition is one whose value is wholly causally independent from other variables in the system.Endogenous Variable 内生变量A value determined within the context of a model.An economic variable which is independent of the relationships determining the equilibrium levels, but nonetheless affects the equilibrium.Consumption 消费in economics, direct utilization of goods and services by consumers, not including the use of means of production, such as machinery and factories (see capital). Consumption can be divided into public and private sectors.Investment 投资An asset or item that is purchased with the hope that it will generate income or appreciate in the future. In an economic sense, an investment is the purchase of goods that are not consumed today but are used in the future to create wealth. In finance, an investment is a monetary asset purchased with the idea that the asset will provide income in the future or appreciate and be soldat a higher price. In the financial sense investments include the purchase of bonds, stocks or real estate property. Government Purchases 政府购买Expenditures made in the private sector by all levels of government, such as when a government entity contracts a construction company to build office space or pave highways. A component of Keynesian expenditures, government purchases can be used as a tool for agovernment to influence the business cycle and provide economic stimulation when it is deemed necessary. Keynesian Economics 凯恩斯经济An economic theory stating that active government intervention inthe marketplace and monetary policy is the best method of ensuring economic growth and stability. A supporter of Keynesian economics believes it is the government's job to smooth out the bumps in business cycles. Intervention would come in the form of government spending and tax breaks in order to stimulate the economy, and government spending cuts and tax hikes in good times, in order to curb inflation.Classical Economics 古典经济学4Classical Economics refers to work done by a group of economists in the 18th and 19th centuries. They developed theories about the way markets and market economies work. The study was primarily concerned with the dynamics of economic growth. It stressed economic freedom and promoted ideas such as laissez-faire and free competition. Famous economists of this thinking include Adam Smith, David Ricardo, Thomas Malthus, and John Stuart Mill.Equilibrium of AD and AS 总供给和总需求的均衡supply and demand result in an equilibrium price (the interest rate) Stagflation 滞胀A condition of slow economic growth and relatively high unemployment - a time of stagnation - accompanied by a rise in prices, or inflation.第三章Fiscal Policy 财政政策Government spending policies that influence macroeconomic conditions. These policies affect tax rates, interest rates, and government spending, in an effort to control the economy.Government spending 政府支出consists of government purchases, including transfer payments, which can be financed by seigniorage (the creation of money for government funding), taxes, or government borrowing It is considered to be one of the major components of gross domestic product.Multiplier Effect 乘数效应The expansion of a country's money supply that results from banks being able to lend. The size of the multiplier effect depends on the percentage of deposits that banks are required to hold on reserves. In other words, it is money used to create more money and calculated by dividing total bank deposits by the reserve requirement.The multiplier effect depends on the set reserve requirement. The higher the reserve requirement, the tighter the money supply, which results in a lower multiplier effect for every dollar deposited. The lower the reserve requirement, the larger the money supply, which means more money is being created for every dollar deposited.Crowding Out Effect 挤出效应An economic theory explaining an increase in interest rates due to rising government borrowing in the money market. Notes: Governments often borrow money (by issuing bonds) to fund additional spending. The problem occurs when government debt 'crowds out' private companies and individuals from the lending market. Increased government borrowing tends to increase market interest rates. The problem is that the government can always pay the market interest rate, but there comes a point when corporations and individuals can no longer afford to borrow.Marginal propensity to consume (MPC) 边际消费倾向refers to the increase in personal consumer spending (consumption) that occurs with an increase in disposable income (income after taxes and transfers). For example, if a household earns one extra dollar of disposable income, and the marginal propensityto consume is 0.65, then of that dollar, the family will spend 65 cents and save 35 cents.Mathematically, the marginal propensity to consume (MPC) function is expressed as the derivative of the consumption (C) function with respect to disposable income (Y).In other words, the marginal propensity to consume is measured asthe ratio of the change in consumption to the change in income, thus giving us a figure between 0 and 1. One minus the MPC equals the marginal propensity to save. Marginal propensity to save (MPS) 边际储蓄倾向refers to the increase in saving (non-purchase of current goods and services) that results from an increase in income. For example, if a family earns one extra dollar, and the marginal propensity to save is 0.35, then of that dollar, the family will spend65 cents and save 35 cents. It can also go the other way, referring to the decrease in saving that results from a decrease in income. It is crucial to Keynesian economics and is the key variable determining the value of the multiplier. Mathematically, the marginal propensity to save (MPS) function is expressed as the derivative of the savings (S)function with respect to disposable income (Y).5In other words, the marginal propensity to save is measured as the ratio of the change in saving to the change in income, thus giving us a figure between 0 and 1. It is the opposite of the marginal propensity to consume (MPC). In the example above, the marginal propensity to consume would be 0.65. In general MPS = 1 - MPC.Money Supply 货币供给 (与书异)The entire quantity of bills, coins, loans, credit, and other liquid instruments in a country's economy. Money supply is divided into three categories--M1, M2, and M3--according to the type andsize of account in which the instrument is kept. The money supply is important to economists trying to understand how policies will affect interest rates and growth. M1The category of the money supply that includes all physical moneylike coins and currency. It also includes demand deposits, which are checking accounts and NOW accounts. M1 is the narrowest idea of "money." This is used as a measurement for economists trying to quantify the amount of money in circulation.M2A category within the money supply that includes M1 in addition toall time-related deposits, savings deposits, and non-institutionalmoney-market funds. M2 is a broader classification of money than M1. Economists use M2 when looking to quantify the amount of money in circulation and trying to explain different economic monetary conditions. M3The category of the money supply that includes M2 as well as alllarge time deposits, institutional money-market funds, short-term repurchase agreements, along with other larger liquid assets. This isthe broadest measure of money it is used by economists to estimate the entire supply of money within an economy. (书没有)Fiat Money 【美】(根据政府法令发行的)不兑现纸币Money that a government has declared to be legal tender, despite the fact that it has no intrinsic value and is not backed by reserves. Most of the world's paper money is fiat money.Legal tender 合法货币;偿付债务时债主必须接受的货币is payment that cannot be refused in settlement of a debt by virtueof law.Transactions demand 交易性需求is the demand or foreign currency. It is used for purposes of business transactions and personal consumption. transactions demand is one of the determinants of demand for money (and credit).Speculative demand 投机性需求is the demand for financial assets, such as securities, money or foreign currency, or financing. It is one of the determinants of demand for money (and credit).Liquidity Preference Theory 流动性偏好理论The hypothesis that forward rates offer a premium over expectedfuture spot rates. Proponents of this theory believe that, according to the term structure of interest rates, investors are risk-averse and will demand a premium for securities with longermaturities. A premium is offered by way of greater forward rates in order to attract investors to longer-term securities. The premium received normally increases at a decreasing rate due to downward pressure from the decreasing volatility of interest rates as the term to maturity increases. Also known as "liquidity preference hypothesis."Interest Rate 利率The monthly effective rate paid (or received if you are a creditor) on borrowed money. Expressed as a percentage of the sum borrowed.Nominal Interest Rate/the money interest rate名义利率The interest rate unadjusted for inflation. Not taking into account inflation gives a less realistic number. Real Interest Rate 实际利率6The amount by which the nominal interest rate is higher than the inflation rate. The real rate of interest is approximated by taking the nominal interest rate and subtracting inflation. The real interest rate is the growth rate of purchasing power derivedfrom an investment.Intermediate targets 中间目标An intermediate target is a variable (such as the money supply) that is not directly under the control of the central bank, but that does respond fairly quickly to policy actions, is observable frequently and bears a predictable relationship to the ultimate goals of policy.Open Market Operations 公开市场业务The buying and selling of government securities in the open marketin order to expand or contract the amount of money in the banking system. Purchases inject money into the banking system and stimulate growthwhile sales of securities do the opposite.Notes: Open market operations are the principal tools of monetary policy. (The discount rate and reserve requirements are also used.) The U.S. Federal Reserve's goal in using this technique is to adjust the federal funds rate--the rate at which banks borrowreserves from each other.Discount Rate 贴现率The interest rate that an eligible depository institution is charged to borrow short-term funds directly from a Federal Reserve Bank. This type of borrowing from the Fed is fairly limited. Institutions will often seek other means of meeting short-term liquidity needs. The Federal funds discount rate is one of two interest rates the Fed sets, the other being the overnight lendingrate, or the Fed funds rate.Lender of Last Resort 最后的贷款者/偿付者An institution, usually a country's central bank, that offers loansto banks or other eligible institutions that are experiencing financial difficulty or are considered highly risky or near collapse. In the U.S. the Federal Reserve acts as the lender of last resort to institutions that do not have any other means of borrowing and whose failure to obtain credit would dramatically affect the economy.Notes: The lender of last resort functions both to protectindividuals who have deposited funds, and to prevent panic withdrawing from banks who have temporary limited liquidity. Commercial banksusually try not to borrow from the lender of last resort because such action indicates that the bank is experiencing financial crisis. Critics of the lender-of-last-resort methodology suspect that the safety it provides inadvertently tempts qualifying institutions to acquire morerisk than necessary -since they are more likely to perceive the potential consequences of risky actions to be less severe.Reserve Requirements 法定准备金Requirements regarding the amount of funds that banks must hold in reserve against deposits made by their customers. This money must be in the bank's vaults or at the closest Federal Reserve Bank.Notes: Set by the Fed's Board of Governors, reserve requirements are one of the three main tools of monetary policy. The other two tools are open market operations and the discount rate. Also known as required reserves.第四章Supply-side economics 供给经济学A theory of economics that reductions in tax rates will stimulate investment and in turn will benefit the entire society.Laffer Curve 拉弗尔曲线Invented by Arthur Laffer, this curve shows the relationship between tax rates and tax revenue collected by governments. The chart below shows the Laffer Curve:7The curve suggests that, as taxes increase from low levels, tax revenue collected by the government also increases. It also shows that tax rates increasing after a certain point (T*) would cause people not to work as hard or not at all, thereby reducing tax revenue. Eventually, if tax rates reached 100% (the far right of the curve), then all people would choose not to work because everything they earned would go to the government.Notes: Governments would like to be at point T*, because it is the point at which the government collects maximum amount of tax revenue while people continue to work hard.Tax revenue税收is the income that is gained by governments because of taxation of the peopleBudget deficit 联邦预算赤字The amount by which government spending exceeds government revenues.Unemployment benefits 失业救济are sums of money given to the unemployed by the government or a compulsory para-governmental insurance system. Depending on the。

宏观经济学英文文章English:Macroeconomics is the branch of economics that focuses on the behavior and performance of an economy as a whole. It examines the economy on a broader scale and looks at factors such as unemployment, inflation, economic growth, and the overall level of national income. Macroeconomists study the interactions between different sectors of the economy, such as households, businesses, and government, and how their decisions impact the overall economy. They also analyze the role of government policy, such as fiscal and monetary policy, in influencing economic outcomes. Understanding macroeconomics is crucial for policymakers, as it provides insights into how to manage and stabilize the economy, particularly during times of economic downturn or crisis.中文翻译:宏观经济学是经济学的一个分支，它关注整个经济体的行为和表现。

它以更广泛的范围研究经济，并关注因素，例如失业率、通货膨胀、经济增长和国民收入的总体水平。

2011考研宏微观经济学重要术语英汉对照检索表AAbsolute advantage 绝对优势Absolute income hypothesis of consumption 绝对收入消费理论Accelerator 加速数Accelerator priniciple 加速原理Action lag 政策时滞Active deposit 活期存款Adaptive expectation 适应性预期Adverse selection 逆向选择Aggregate analysis 总量分析Aggregate demand 总需求Aggregate demand(AD) curve 总需求曲线Aggregate supply 总供给Aggregate supply(AS) curve 总供给曲线Allocation of resources 资源配置Antitrust law 反托拉斯法Arc elasticity 弧弹性Asset 资产Asymmetric information信息不对称Auctioneer 拍卖人Austrian school 奥地利学派Automatic stabilizer 自动稳定器Autonomous planned investment 自主投资Average cost 平均成本Average fixed cost 平均不变成本Average product 平均产量Average propensity to consume 平均消费倾向Average propensity to saving 平均储蓄倾向Average revenue 平均收益Average total cost 平均总成本Average variable cost 平均可变成本BBalanced-output 均衡产出Balance of international payment 国际收支平衡Balanced budget 均衡预算Balanced budget multiplier均衡预算乘数Bank reserves 银行准备金Barter 物物交换Base year 基年Black market 黑市Bonds 债券BP curve BP曲线Breakeven point 收支相抵点Budget,balanced 平衡的预算Budget deficit 预算赤字Budget line 预算线Budget surplus 预算盈余Built-in stabilizers 内在稳定器Business fluctuation 经济波动Business cycle 经济周期CCapital 资本Capital deeping 资本深化Capital market 资本市场Capital-output ratio 资本-产出比Capital widening 资本广化Cardinal utility theory 基数效用论Cartel 卡特尔Central bank 中央银行Checking account 支票账户(或活期存款) Classical economics 古典经济学Clearing market 出清市场Coase theorem 科斯定理Cobb-Douglas production function 柯布-道格拉斯生产函数Cobweb model 蛛网模型Collusion 串(共)谋(用于寡头市场分析) Commercial bank 商业银行Common resource 公共资源Common stock 普通股票Comparative cost theory 比较成本说Comparative static analysis 比较静态分析Compensated budget line 补偿预算线Competition 竞争Competitive market 竞争性市场Complement goods 互补品Complete information 完全信息Condition for efficiency in exchange 交换的最优条件Condition for efficiency in production 生产的最优条件Constant cost industry 成本不变行业Constant returns to scale 规模收益(或报酬)不变Consumer 消费者Consumer price index(CPI) 消费者价格指数Consumer sovereignty 消费者统治Consumer surplus 消费者剩余Consumer’s equilibrium 消费者均衡Consumer’s preference 消费者的偏好Consumption 消费Consumption demand 消费需求Consumption function 消费函数Consumption price index 消费物价指数Contract curve 契约曲线Corporate income tax 公司所得税Corporation 公司Cost 成本Cost-benefit analysis 成本-收益分析Cost-push inflation 成本推动型的通货膨胀Cost function 成本函数Cournot model 古诺模型Credit 信贷Cross price elasticity of demand 需求的交叉弹性Crowding out 挤出效应Cyclical unemployment 周期性失业DDecreasing cost industry 成本递减行业Decreasing returns to scale 规模收益(或报酬)递减Deflation 通货收缩Demand 需求Demand-pull inflation 需求拉动的通货膨胀Demand curve 需求曲线Demand for money 货币需求Demand function 需求函数Demand price 需求价格Demand schedule 需求表Depreciation 折旧Depression 萧条Derived demand 引致需求Devaluation 贬值Differentiated oligopoly industry 差别寡头行业Diminishing returns 边际报酬递减Discounting 贴现Discount rate 贴现率Discretionary 相机抉择Discretionary fiscal policy 斟酌使用的财政政策Disequilibrium 非均衡Disinvestment 负投资Disposable personal income(DPI) 可支配收入Dissaving 负储蓄Distribution 分配Distribution theory of marginal productivity 边际生产率分配论Downward-sloping-demand,law of 需求向下倾斜规律Duopoly 双头垄断Durable goods 耐用品Dynamic analysis 动态分析Dynamic models 动态模型EEasy money policy 扩张性货币政策Economies of scale 规模经济Economic development 经济发展Economic efficiency 经济效率Economic growth 经济增长Economic man 经纪人Economic model 经济模型Economic profit 经济利润Economic rent 经济租金Economic stabilization policy 经济稳定政策Economics of information 信息经济学Edgeworth box 埃奇渥斯盒Effects of fiscal policy 财政政策效果Effects of monetary policy 货币财政效果Effective demand 有效需求Efficiency 效率Elastic demand 有弹性的需求Elasticity 弹性Elasticity of demand 需求弹性Endogenous variable 内生变量Endogenous growth 内生增长Engel curve 恩格尔曲线Engel’s law 恩格尔定律Entrepreneur 企业家Entrepreneurship 企业家才能Envelope curve 包络线Equation of cost 成本方程Equation of exchange 交易方程Equilibrium 均衡Equilibrium output 均衡产出Equilibrium growth 均衡增长Equilibrium of capital market 资本市场的均衡Equilibrium price 均衡价格Equilibrium quantity 均衡数量Euler theorem 欧拉定理Excess reserve 超额准备金Excess reserve ratio 超额准备率Exchange 交换Exchange contract curve 交换的契约曲线Exchange rate 汇率Exclusion principle 排他性原则Existence of general equilibrium 一般均衡的存在性Exogenous variable 外生变量Expansion path 扩展线Expectation 预期Expected utility 期望效用Expenditure method 支出法Explicit cost 显性成本Export 出口External diseconomies 外部不经济External economies 外部经济External effects or Externalities 外部影响(外在性)FFactor demand 要素需求Factor demand curve 要素需求曲线Factor demand curve of market 市场对要素的需求曲线Factor demand curve of firm 厂商对要素的需求曲线Factor market 要素市场Factor supply 要素供给Factors of production 生产要素Federal Reserve System 联邦准备制度Final goods 最终产品Financial market 金融市场Financial derivatives 金融衍生品Firm 厂商Fiscal budget 财政预算Fiscal policy 财政政策Fiscal restrain 财政紧缩Fixed cost 不变成本Fixed exchange rates 固定汇率Fixed input 不变投入Flexible exchange rates 浮动汇率Flow 流量Foreign exchange 外汇Foreign trade 对外贸易Foreign trade multiplier 对外贸易乘数Free rider 免费乘车者Free trade 自由贸易Frictional unemployment 摩擦性失业Full employment 充分就业Full-employment budget surplus 充分就业预算盈余Functional finance 功能财政Future 期货GGalloping inflation 奔腾式通货膨胀Game theory 博弈论GDP deflator 国内生产总值平减指数General equilibrium 一般均衡General equilibrium position 一般均衡状态Giffen goods 吉芬物品Gini coefficient 基尼系数Golden rules of economic growth 经济增长的黄金律Government expenditure multiplier 政府支出乘数Government purchase 政府购买Government regulation 政府管制Gross domestic product(GDP) 国内生产总值Gross national product(GNP) 国民生产总值Gross investment 总投资HHigh-powered money 高能货币Human capital 人力资本Hyperinflation 超级通货膨胀H-O model H-O模型IIS curve IS曲线IS-LM analysis IS-LM分析IS-LM-BP Model IS-LM-BP模型Ideal output 理想的产量Identity between saving and investment 储蓄-投资衡等式Imperfect competition 不完全竞争Implicit cost 隐含成本Imports 进口Impossibility theorem 不可能定理Income 收入Income elasticity of demand 需求的收入弹性Income effect 收入效应Income method 收入法Income theory 收入理论Income velocity of money 货币的收入流通速度Increasing cost industry 成本递增行业Increasing returns to scale 规模收益(或报酬)递增Index number 指数Indifference curve 无差异曲线Indirect taxes 间接税Individual analysis 个量分析Induced investment 引致投资Industry 行业Inefficiency of monopoly 垄断的低效率Inelasticity 缺乏弹性Inferior good 抵档物品Inferior goods 劣等品Inflation 通货膨胀Innovation 创新Input 投入Input-output 投入-产出Input-output analysis 投入-产出分析Instrument of fiscal control 财政政策工具Instrument of monetary control or Monetary policy tool货币政策工具Insurance 保险Interest 利息Interest rate 利率Interest rate elasticity 利率弹性Intermediate cycle 中周期Intermediate goods 中间产品International division of labour 国际分工Inventory investment 存货投资Investment 投资Investment demand 投资需求Investment function 投资函数Investment multiplier 投资乘数Investment tax credit 投资税抵免Invisible hand theorem 看不见的手定理Involuntary unemployment 非自愿失业Isocline 等斜线Isocost line 等成本线Isoquant curve 等产量曲线JJuglar cycle 朱拉格周期KKeynes’s law 凯恩斯定律Keynesian economics 凯恩斯主义经济学Keynesian revolution 凯恩斯革命Keynesianism 凯恩斯主义Keynesian trop 凯恩斯陷阱Kinked demand curve 弯折的需求曲线Kitchin cycle 基尼系数Kondretieff cycle 康德拉耶夫周期LLM curve LM曲线Labor 劳动Labor theory of value 劳动价值论Laissez faire 自由放任Land 土地Land price 土地价格Lausanne school 洛桑学派Law of diminishing marginal utility 边际效用递减规律Least-cost production 最低成本生产Liabilities 负债Life cycle hypothesis 生命周期假说Life-cycle hypothesis of consumption消费的生命周期理论Liquidity preference 流动性偏好Liquidity trap 流动性陷阱Long cycle 长周期Long run 长期Long run consumption decision 长期消费决策Lorenz curve 洛伦兹曲线Lottery ticket 彩票Low inflation 温和的通货膨胀Luxury 奢侈品MMacroeconomics 宏观经济学Marginal cost 边际成本Marginal cost of factor 边际要素成本Marginal efficiency of capital(MEC) 资本边际效率Marginal efficiency of investment 投资边际效率Marginal product 边际产量Marginal productivity 边际生产率Marginal propensity to consume 边际消费倾向Marginal propensity to save 边际储蓄倾向Marginal rate of substitution of commodities边际商品替代率Marginal rate of technical substitution边际技术替代率Marginal rate of transformation 边际转换率Marginal revenue 边际收益Marginal revenue product 边际收益产品Marginal utility 边际效用Market 市场Market failures 市场失灵Market structure 市场结构Menu cost 菜单成本Merchantilism 重商主义Microeconomics 微观经济学Misery index 痛苦指数Model 模型Monetarism 货币主义Monetary base 基础货币Monetary-fiscal policy mix 政策的混合使用Monetary illusion 货币幻觉Monetary policy 货币政策Money 货币Money markets 货币市场Money multiplier 货币乘数Money supply 货币供给Monopolistic competition 垄断竞争Monopoly 垄断/卖方垄断Monopsony 买方垄断Moral hazard 道德风险Moral suasion 道义上的劝告Mortgage credit 抵押贷款Multiplier 乘数Multiplier effect 乘数效应Multiplier-accelerator interaction 乘数-加速数相互作用Multiplier theory 乘数理论NNash equilibrium 纳什均衡National income(NI) 国民收入Natural monopoly 自然垄断Natural rate of unemployment 自然失业率Natural supply 自然供给Necessity 必需品Net domestic products，NDP 国内生产净值Net exports 净出口Net investment 净投资New-Austrian school 新奥地利学派New-Cambridge school 新剑桥学派New-Classic school 新古典学派New- Classical synthesis 新古典综合派New- Classical growth model 新古典增长模型New- Keynesian school 新凯恩斯学派New institution school 新制度学派Nominal GDP 名义GDPNormal goods 正常物品Normal profits 正常利润Normative economics 规范经济学OOkun’s law 奥肯定律Oligopoly 寡头垄断Oligopoly market 寡头市场Open market operation 公开市场操作Opportunity cost 机会成本Optimality of general equilibrium 一般均衡最优性Optimum plant size 最优生产规模Option 期权Ordinal utility theory 序数效用论PParameter 参数Pareto criterion 帕累托标准Pareto efficiency 帕累托效率Pareto improvement 帕累托改进Pareto optimality 帕累托最优Partial equilibrium 局部均衡Payment or Expenditure 支出Perfect competition market 完全竞争市场Perfect elasticity 完全弹性Perfect inelasticity 完全无弹性Permanent income hypothesis 永久收入假说Permanent income hypothesis of Consumption永久收入消费理论Personal income(PI) 个人收入Personal income tax 个人所得税Personal disposable income 个人可支配收入Philips curve 菲利普斯曲线Point elasticity 点弹性Positive economics 实证经济学Potential GDP 潜在的GDP Preference 偏好Present value 现值Price-consumption curve 价格-消费曲线Price discrimination 价格歧视Price elasticity of demand 需求的价格弹性Price elasticity of supply 供给的价格弹性Price expansion path 价格扩展线Price index 价格指数Price rigidity 价格刚性Price stabilization 价格稳定Price theory 价格理论Principal-agent 委托-代理Prisoner’s dilemma 囚徒困境Private cost 私人成本Private goods 私人物品Producer 生产者Producer surplus 生产者剩余Product function 生产函数Product differentiation 产品差别Product markets 产品市场Production contract curve 生产的契约曲线Production group 生产集团Production possibility curve 生产可能性曲线Productivity 生产率(力)Profit 利润Progressive tax 累进税Proportional tax 比例税Prosperity 繁荣Public choice 公共选择Public debt 公债Public goods 公共物品Purchasing power parity 购买力平价Pure oligopoly industry 纯粹寡头行业QQuantity equation of exchange 货币数量交易方程Quantity theory of money 货币数量论Quasi-rent 准租金Quotas 配额RRate of rediscount policy 再贴现率政策Rational expectations 理性预期Rational man 理性人Real GDP 实际GDP(实际国内生产总值) Real interest rate 实际利率Real wages 实际工资Real business cycle 实际经济周期Recession 衰退Regressive tax 累退税Relative income hypothesis 相对收入假说Relative income hypothesis of consumption相对收入消费理论Rent 地租/租金Rent-seeking 寻租Replacement investment 重置投资Reputation 信誉Required reserves orLegal reserve 法定准备金Reserve 准备金Reserve rate 准备率Revenue 收益Rigid price 刚性价格Risk 风险Risk averter 风险回避着Risk lover 风险爱好者Risk neutral 风险中立者SSaving 储蓄Say’s law 萨伊定律Scarcity 稀缺Second best 次优Security market 证券市场Service 劳务Short cycles 短周期Short run 短期Single rule 单一规则Social cost 社会成本Social walfare function 社会福利函数Speculative demand 投机需求Stability of general equilibrium 一般均衡的稳定性Stagflation 滞胀Staggered contracts 交错合同Static analysis 静态分析Static model 静态模型Sticky wages 粘性工资Sticky price 粘性价格Stock 存量/股票Structural unemployment 结构性失业Structural inflation 结构性通货膨胀Subsidy 津贴Substitutes 替代品Substitution effect 替代效应Supply 供给Supply curve 供给曲线Supply curve of factor 要素供给曲线Supply curve of labor 劳动供给曲线Supply curve of land 土地供给曲线Supply curve of capital 资本供给曲线Supply economics 供给经济学Supply function 供给函数Supply-side School 供给学派Supply schedule 供给表System of material product balances 物质产品平衡体系System of national accounts 国民经济核算体系TTariff 关税Tatonnement process “试探”过程Tax multiplier 税收乘数Technological advance 技术进步Tight-money policy 紧缩性货币政策Time deposit 定期存款Time inconsistency 时间不一致性The precautionary motive 谨慎动机(或预防动机)The rate of unemployment 失业率The speculative motive 投机动机The transactional motive 交易动机Theory of economics of scale 规模经济理论Tobin’s theory 拖宾的”q”说Total cost 总成本Total fixed cost 总不变成本Total product 总产量Total revenue 总收益Total utility 总效用Total variable cost 总可变成本Transactions costs 交易成本Transactions demand 交易需求Treasury bills 国库券UUncertainty 不确定性Undistributed profit 未分配利润Unemployment 失业Unintended investment 非意愿的投资Uniqueness of general equilibrium 一般均衡的唯一性Unitary elasticity 单一弹性Utility 效用Utility function 效用函数Utility possibility curve 效用可能性曲线VValue of marginal product 边际产品价值Velocity of money 货币流通速度Variable cost 可变成本Variable input 可变投入Voluntary unemployment 自愿失业Vulgar economics 庸俗经济学WWage 工资Walras general equilibrium 瓦尔拉斯一般均衡Wealth 财富Welfare 福利Welfare economics 福利经济学Wholesale price index 批发物价指数XYZ。

经济学小论文英文翻译The concept of supply and demand is a fundamental principle in economics. When the demand for a product or service increases, while the supply remains constant, the price of that product or service increases. Conversely, when the demand for a product or service decreases, while the supply remains constant, the price decreases.Supply and demand are influenced by a variety of factors, including consumer preferences, changes in the cost of production, and changes in the availability of resources. For example, if the cost of producing a good increases, the supply of that good may decrease, leading to an increase in price. On the other hand, if consumers' preferences shift towards a particular product, the demand for that product may increase, leading to an increase in price.In a competitive market, the interaction of supply and demand leads to an equilibrium price, where the quantity supplied equals the quantity demanded. This equilibrium price is determined by the intersection of the supply and demand curves. If the market is not in equilibrium, there will be either a surplus or a shortage of the product, which will lead to changes in price.Understanding the dynamics of supply and demand is crucial for businesses, policymakers, and consumers. Businesses must carefully consider the factors that influence supply and demand in order to make informed production and pricing decisions. Policymakers must also consider the impact of their decisions on supply and demand in order to avoid unintended consequences.Finally, consumers must be aware of how changes in supply and demand can affect the prices of the products and services they purchase.In conclusion, supply and demand are essential concepts in economics that have a profound impact on the prices of goods and services. By understanding the factors that influence supply and demand, businesses, policymakers, and consumers can make more informed decisions.Supply and demand also play a crucial role in shaping the overall economy. When the demand for goods and services is strong, it can lead to increased production, investment, and employment opportunities, ultimately contributing to economic growth. Conversely, a decrease in demand can result in lower production, reduced investment, and potential unemployment, which can have negative ripple effects throughout the economy.Moreover, the concept of elasticity is important in understanding how changes in price and quantity affect supply and demand. Price elasticity of demand measures how sensitive the quantity demanded is to changes in price, while price elasticity of supply measures how sensitive the quantity supplied is to changes in price. When demand is price elastic, a small change in price can result in a large change in quantity demanded, whereas when demand is price inelastic, a change in price has a relatively small impact on quantity demanded.Similarly, the elasticity of supply is crucial in determining how producers respond to changes in price. In the case of price elastic supply, producers can quickly increase or decrease the quantitysupplied in response to changes in price. In contrast, when supply is price inelastic, producers may find it challenging to adjust the quantity supplied in response to price changes.Understanding these concepts allows businesses to better predict consumer behavior and make adjustments to their production and pricing strategies accordingly. It also enables policymakers to design effective economic policies, such as taxes or subsidies, to influence supply and demand in certain markets.In addition, international trade is another area where supply and demand dynamics have significant implications. Changes in supply or demand in one country can have spillover effects on the global market, impacting prices and trade flows across borders.In conclusion, the principles of supply and demand are fundamental to the functioning of economies at both micro and macro levels. The interplay between these forces determines prices, production levels, and overall economic activity. Therefore, a comprehensive understanding of supply and demand is essentialfor businesses, policymakers, and individuals in making informed decisions and comprehending the complexities of the economic world.。

The green barrier to free tradeC. P. ChandrasekharJayati GhoshAs the March 31 deadline for completing the "modalities" stage of the proposed new round of negotiations on global agricultural trade nears, hopes of an agreement are increasingly waning. In this edition of Macroscan, C. P. Chandrasekhar and Jayati Ghosh examine the factors and the players constraining the realisation of such an agreement.AT THE END of the latest round of meetings of the agricultural negotiations committee of the WTO, the optimism that negotiators would meet the March 31 deadline for working out numerical targets, formulas and other "modalities" through which countries can frame their liberalisation commitments in a new full-fledged round of trade negotiations has almost disappeared. That target was important for two reasons.First, it is now becoming clear, that even more than was true during the Uruguay Round, forging an agreement in the agricultural area is bound to prove extremely difficult.Progress in the agricultural negotiations was key to persuading the unconvinced that a new `Doha Round' of trade negotiations is useful and feasible.Second, the Doha declaration made agricultural negotiations one part of a `single undertaking' to be completed by January 1, 2005. That is, in a take `all-or-nothing' scheme, countries had to arrive at, and be bound by, agreements in all areas in which negotiations were to be initiated in the new round. This means that if agreement is not worked out with regard to agriculture, there would be no change in the multilateral trade regime governing industry, services or related areas and no progress in new areas, such as competition policy, foreign investment and public procurement, all of which are crucial to the economic agenda of the developed countries.The factors making agriculture the sticking point on this occasion are numerous. As in the last Round, there is little agreement among the developed countries themselves on the appropriate shape of the global agricultural trade regime.There are substantial differences in the agenda of the US, the EU and the developed countries within the Cairns group of agricultural exporters. When the rich and the powerful disagree, a global consensus is not easy to come by.But that is not all. Even if an agreement is stitched up between the rich nations, through manoeuvres such as the Blair House accord, getting the rest of the world to go along would be more difficult this time.This is because the outcomes in the agricultural trade area since the implementation of the Uruguay Round (UR) Agreement on Agriculture (AoA) began have fallen far short of expectations. In the course of Round, advocates of the UR regime had promised global production adjustments that would increase the value of world agricultural trade and an increase in developing country share of such trade.As Chart 1 shows, global production volumes continued to rise after 1994 when the implementation of the Uruguay Round began, with signs of tapering off only in 2000 and 2001. As is widely known, this increase in production occurred in the developed countries as well.Not surprisingly, therefore, the volume of world trade continued to rise as well after 1994 (Chart 2). The real shift occurred in agricultural prices which, after some buoyancy between 1993and 1995, have declined thereafter, and particularly sharply after 1997. It is this decline in unit values that resulted in a situation where the value of world trade stagnated and then declined after 1995, when the implementation of the Uruguay Round began.As Table 1 shows, there was a sharp fall in the rate of growth of global agricultural trade between the second half of the 1980s and the 1990s, with the decline in growth in the 1990s being due to the particularly poor performance during the 1998 to 2001 period.Price declines and stagnation in agricultural trade values in the wake of the UR Agreement on Agriculture were accompanied and partly influenced by the persisting regionalisation of world agricultural trade.The foci of such regionalisation were Western Europe and Asia, with 32 and 11 per cent of global agricultural trade being intra-Western European and intra-Asian trade respectively (Chart 3). What is noteworthy, however, is that agricultural exports accounted for a much higher share of both merchandise and primary products trade in North America and Western Europe (besides Latin America and Africa) than it did for Asia.Thus, despite being the developed regions of the world, agricultural production and exports were important influences on the economic performance of North America and Western Europe.It is, therefore, not surprising that Europe is keen on maintaining its agricultural sector through protection, while the US is keen on expanding its role in world agricultural markets by subsidising its own farmers and forcing other countries to open up their markets. The problem is that the US has been more successful in prising open developing country markets than the large EU market.Thus, out of $104 billion worth of exports from North America in 2001, $34 billion went to Asia and $15 billion to Latin America, whereas exports to Europe amounted to $14 billion.The Cairns group of exporting countries (Argentina, Australia, Bolivia, Brazil, Canada, Chile, Colombia, Costa Rica, Guatemala, Indonesia, Malaysia, New Zealand, Paraguay, the Philippines, South Africa, Thailand and Uruguay), for some of whom at least agricultural exports are extremely important, want world market to be freed of protection as well as the surpluses that result from huge domestic support in the US and the EC.We must note that $35 billion of the $63 billion of exports from Latin America went to the US and the EU. More open markets and less domestic support in those destinations is, therefore, crucial for the region.The fact that Europe has been successful in its effort at retaining its agricultural space with the help of a Common Agricultural Policy that both supports and subsidises its agricultural producers is clear from Chart 4, which shows that intra-EC trade which accounted for 74 per cent of EU exports in 1990, continued to account for 73 per cent of total EU exports in 1995 and 2001.But North America, with far fewer countries in its fold, has also been quite insular. Close to a third of North American exports are inter-regional. Little has changed since the Uruguay Round Agreement on Agriculture.It is widely accepted that three sets of actors account for this failure of the AoA:First, in order to push through an agreement when there were signs that the Uruguay Round was faltering, the liberalisation of agricultural trade in the developed countries was not pushed far enough;Second, is the ability to use "loopholes", especially those in the form of inadequately well-defined Green and Blue Box measures, in the AoA, to continue to support and protect farmers on the grounds that such support was non-trade distorting; andFinally, there are violations of even the lax UR rules in the course of implementation, which have been aided by the failure of the agreement to ensure transparency in implementation.Not surprisingly, some countries, especially the Cairns group of exporting countries, have proposed an ambitious agenda of liberalisation in the agricultural area.Tariffs are to be reduced sharply, using the "Swiss formula", which would ensure that the proportionate reduction in the tariffs imposed by a country would be larger, the higher is the prevailing bound or applied tariff in that country.中文翻译：题目：自由贸易中的绿色壁垒作者：C. P. Chandrasekhar 、Jayati Ghosh在A完自由化的承诺在其最新一轮会议的农业谈判委员会，世界贸易组织，乐观地认为，谈判的框架将在3月31日最后期限为制定数字指标，公式和其他“方式，哪些国家可以”通过新的全面谈判回合贸易几乎已经消失。

The Problem of Social Cost 社会成本问题RONALD COASE 罗纳德·科斯Ronald Coase is Professor Emeritus at University of Chicago LawSchool and a Nobel Laureate in Economics. This article is fromThe Journal of Law and Economics (October 1960). Several passages devoted to extended discussions of legal decisions have been omitted. 罗纳德·科斯在芝加哥大学法学院名誉教授和诺贝尔经济学奖得主。

本文是其外法学与经济学杂志（1960年10月）。

专门的法律问题的决定的延伸讨论的几个段落已被省略。

I.THE PROBLEM TO BE EXAMINED This paper is concerned with those actions of business firms which have harm-ful effects on others. The standard example is that of a factory the smoke from which has harmful effects on those occupying neighbouring properties. The economic analysis of such a situation has usually proceeded in terms of a divergence between the private and social product of the factory, in which economists have largely followed the treatment of Pigou in The Economies of Welfare. The conclusion to which this kind of analysis seems to have led most economists is that it would be desirable to make the owner of the factory li-able for the damage caused to those injured by the smoke, or alternatively, to place a tax on the factory owner varying with the amount of smoke produced and equivalent in money terms to the damage it would cause, or finally, to exclude the factory from residential districts (and presumably from other areas in which the emission of smoke would have harmful effects on others). It is my contention that the suggested courses of action are inappropriate, in that they lead to results which are not necessarily, or even usually, desirable. 一、要检查的问题本文关注的是这些行动的企业有伤害他人有用的影响。

Macroeconomics 宏观经济学The study of the overall aspects and workings of a national economy, such as income, output, and the interrelationship among diverse economic sectors.研究国民收入的各方面。

Microeconomics 微观经济学The study of the operations of the components of a national economy, such as individual firms, households, and consumers.研究经济中单个因素行为的分析。

GDP 国内生产总值(Gross Domestic Product)The total market value of all final goods and services produced within the borders of a nation during a specified period.一国国民在各行业中一年内生产的最终产品和最终服务价值总和。

It is often seen as an indicator of the standard of living in a country.Gross Domestic Product＝consumption + investment goods + government purchases + net exportsEconomic Growth 经济增长steady growth in the productive capacity of the economy (and so a growth of national income)Real Economic Growth Rate 实际经济增长率A measure of economic growth from one period to another expressed as a percentage and adjusted for inflation (i.e. expressed in real as opposed to nominal terms). The real economic growth rate is a measure of the rate of change that a nation's gross domestic product (GDP) experiences from one year to another. Gross national product (GNP) can also be used if a nation's economy is heavily dependent on foreign earnings. The real economic growth rate builds onto the economic growth rate by taking into account the effect that inflation has on the economy. The real economic growth rate is a "constant dollar" and therefore a more accurate look at the rate of economic growth because the real rate is not distorted by the effects of extreme inflation or deflation.GDP deflator GDP指数In economics the GDP deflator (implicit price deflator for GDP) is a measure of the change in prices of all new, domestically produced, final goods and services in an economy. GDP stands for gross domestic product the total value of all goods and services produced within that economy during a specified period.Nominal GDP 名义GDPA gross domestic product (GDP) figure that has not been adjusted for inflation.Real GDP 实际GDPThis inflation-adjusted measure that reflects the value of all goods and services produced in a given year, expressed in base-year prices. Often referred to as "constant-price", "inflation-corrected" GDP or "constant dollar GDP". Unlike nominal GDP, real GDP can account for changes in the price level, and provide a more accurate figure.Potential output 潜在产量/潜在GDPIn economics, potential output (also refered to as "natural real gross domestic product") refers to the highest level of real Gross Domestic Product output that can be sustained over the long term.GDP Gap GDP缺口The forfeited output of an country's economy resulting from the failure to create sufficient jobs for all those willing to work. A GDP gap denotes the amount of production that is irretrievably lost. The potential for higher production levels is wasted because there aren't enough jobs supplied.（与书异）Net Exports 净出口The value of a country's total exports minus the value of its total imports. It is used to calculate a country's aggregate expenditures, or GDP, in an open economy. In other words, net exports is the amount by which foreign spending on a home country's goods and services exceeds the home country's spending on foreign goods and services.Recession 经济衰退A significant decline in activity spread across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income, and wholesale-retail trade. The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a country's GDP.Notes:Recession is a normal (albeit unpleasant) part of the business cycle. A recession generally lasts from six to eighteen months. Interest rates usually fall in recessionary times to stimulate the economy by offering cheap rates at which to borrowDepression 经济萧条A severe and prolonged recession characterized by inefficient economic productivity, high unemployment, and falling price levels. In times of depression, consumer's confidence and investments decrease, causing the economy to shutdown.Value Added 附加值The enhancement a company gives its product or service before offering the product to customers. This can either increase the products price or value.（与书异）Gross National Product – GNP 国民生产总值An economic statistic that includes GDP, plus any income earned by residents from overseas investments, minus income earned within the domestic economy by overseas residents. GNP is a measure of a country's economic performance, or what its citizens produced (i.e. goods and services) and whether they produced these items within its borders.Disposable Income 可支配收入The amount of after-tax income that is available to divide between spending and personal savings. This also known as your take home pay.Unemployment Rate 失业率The percentage of the total labor force that is unemployed but actively seeking employment and willing to work.Labor force 劳动力the group of people who have a potential for being employed.Frictional Unemployment 摩擦性事业Unemployment that is always present in the economy, resulting from temporary transitions made by workers and employers or from workers and employers having inconsistent or incomplete information.Structural Unemployment 结构性失业Unemployment resulting from changes in the basic composition of the economy. These changes simultaneously open new positions for trained workers.Cyclical Unemployment 周期性失业Unemployment resulting from changes in the business cycle.Natural Unemployment 自然失业率（与书异）The lowest rate of unemployment that an economy can sustain over the long run. Keynesians believe that a government can lower the rate of unemployment (i.e. employ more people) if it were willing to accept a higher level of inflation (the idea behind the Phillips Curve). However, critics of this say that the effect is temporary and that unemployment would bounce back up but inflation would stay high. Thus, the natural, or equilibrium, rate is the lowest level of unemployment at which inflation remains stable. Also known as the "non-accelerating inflation rate of unemployment" (NAIRU).Notes:When the economy is said to be at full employment, it is at its natural rate of unemployment. Economists debate how the natural rate might change. For example, some economists think that increasing labor-market flexibility will reduce the natural rate. Other economists dispute the existence of a natural rate altogether!Frictional unemployment — This reflects the fact that it takes time for people to find and settle into new jobs. If 12 individuals each take one month before they start a new job, the aggregate unemployment statistics will record this as a single unemployed worker. Technological change often reduces frictional unemployment, for example: the internet made job searches cheaper and more comprehensive.Structural unemployment —This reflects a mismatch between the skills and other attributes of the labour force and those demanded by employers. If 4 workers each take six months off to re-train before they start a new job, the aggregate unemployment statistics will record this as two unemployed workers. Technological change often increases structural unemployment, for example: technological change might require workers to re-train.Natural rate of unemployment —This is the summation of frictional and structural unemployment. It is the lowest rate of unemployment that a stable economy can expect to achieve, seeing as some frictional and structural unemployment is inevitable. Economists do not agree on the natural rate, with estimates ranging from 1% to 5%, or on its meaning — some associate it with "non-accelerating inflation.The estimated rate varies from country to country and from time to time.Demand deficient unemployment — In Keynesian economics, any level of unemployment beyond the natural rate is most likelydue to insufficient demand in the overall economy. During a recession, aggregate expenditure is deficient causing the underutilization of inputs (including labour). Aggregate expenditure (AE) can be increased, according to Keynes, by increasing consumption spending (C), increasing investment spending (I), increasing government spending (G), or increasing the net of exports minus imports (X−M).{AE = C + I + G + (X−M)}Okun's Law 奥昆法则A relationship between an economy's GDP gap and the actual unemployment rate. The relationship is represented by a ratio of 1 to 2.5. Thus, for every 1% excess of the natural unemployment rate, a 2.5% GDP gap is predicted.Inflation 通货膨胀The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling. Deflation 通货紧缩steadily falling pricesA general decline in prices, often caused by a reduction in the supply of money or credit. Deflation can be caused also by a decrease in government, personal or investment spending. The opposite of inflation, deflation has the side effect of increased unemployment since there is a lower level of demand in the economy, which can lead to an economic depression. Hyperinflation 超级通货膨胀Extremely rapid or out of control inflation.Inflation rate 通货膨胀率In economics, the inflation rate is the rate of increase of the average price level (a measure of inflation). If one likes analogies, the size of a balloon is like the price level, while the inflation rate is how quickly it grows in size. Alternatively, the inflation rate is the rate of decrease in the purchasing power of money.Consumer Price Index (CPI) 消费价格指数The CPI, as it is called, measures the prices of consumer goods and services and is a measure of the pace of US inflation. The US Department of Labor publishes the CPI every month.Demand－pull inflation 需求拉动型通货膨胀inflation due to high demand for GDP and low unemployment, also known as Phillips Curve inflation.Cost－push inflation 成本推动型通货膨胀nowadays termed "supply shock inflation", due to an event such as a sudden increase in the price of oil.Built-in inflation - induced by adaptive expectations, often linked to the "price/wage spiral" because it involves workers trying to keep their wages up with prices and then employers passing higher costs on to consumers as higher prices as part of a "vicious circle". Built-in inflation reflects events in the past, and so might be seen as hangover inflation. It is also known as "inertial" inflation, "inflationary momentum", and even "structural inflation".Indexing 指数化The adjustment of the weights of assets in an investment portfolio so that its performance matches that of an index.Linking movements of rates to the performance of an index.Notes:1. Indexing is a passive investment strategy. An investor can achieve the same risk and return of an index also by investing in an index fund.2. Types of rates that could be linked to the performance of an index are wage or tax rates.Phillips Curve 菲利普斯曲线An economic concept developed by A. W. Phillips stating that inflation and unemployment have a stable and inverse relationship. The theory states that with economic growth comes inflation, which in turn should lead to more jobs and less unemployment. The concept has been proven empirically and some government policies are directly influenced by it.第二章Aggregate Demand 总需求The total amount of goods and services demanded in the economy at a given overall price level and in a given time period. It is represented by the aggregate-demand curve, which describes the relationship between price levels and the quantity of output that firms are willing to provide. Normally there is a negative relationship between aggregate demand and the price level. Alsoknown as "total spending".Notes:Aggregate demand is the demand for the gross domestic product (GDP) of a country, and is represented by this formula: Aggregate Demand (AD) = C + I + G (X-M)C = Consumers' expenditures on goods and services.I = Investment spending by companies on capital goods.G = Government expenditures on publicly provided goods and services.X = Exports of goods and services.M = Imports of goods and services.Aggregate Supply 总供给The total supply of goods and services produced within an economy at a given overall price level in a given time period. It is represented by the aggregate-supply curve, which describes the relationship between price levels and the quantity of output that firms are willing to provide. Normally, there is a positive relationship between aggregate supply and the price level. Rising prices are usually signals for businesses to expand production to meet a higher level of aggregate demand. Also known as "total output".Notes:A shift in aggregate supply can be attributed to a number of variables. These include changes in the size and quality of labor, technological innovations, increase in wages, increase in production costs, changes in producer taxes and subsidies, and changes in inflation. In the short run, aggregate supply responds to higher demand (and prices) by bringing more inputs into the production process and increasing utilization of current inputs. In the long run, however, aggregate supply is not affected by the price level and is driven only by improvements in productivity and efficiency.Exogenous Variable 外生变量A variable whose value is determined outside the model in which it is used.An economic variable that is related to other economic variables and determines their equilibrium levels. For example, rainfall is exogenous to the causal system constituting the process of farming and crop output. An exogenous variable by definition is one whose value is wholly causally independent from other variables in the system.Endogenous Variable 内生变量A value determined within the context of a model.An economic variable which is independent of the relationships determining the equilibrium levels, but nonetheless affects the equilibrium.Consumption 消费in economics, direct utilization of goods and services by consumers, not including the use of means of production, such as machinery and factories (see capital). Consumption can be divided into public and private sectors.Investment 投资An asset or item that is purchased with the hope that it will generate income or appreciate in the future. In an economic sense, an investment is the purchase of goods that are not consumed today but are used in the future to create wealth. In finance, an investment is a monetary asset purchased with the idea that the asset will provide income in the future or appreciate and be sold at a higher price. In the financial sense investments include the purchase of bonds, stocks or real estate property. Government Purchases 政府购买Expenditures made in the private sector by all levels of government, such as when a government entity contracts a construction company to build office space or pave highways. A component of Keynesian expenditures, government purchases can be used as a tool for a government to influence the business cycle and provide economic stimulation when it is deemed necessary. Keynesian Economics 凯恩斯经济An economic theory stating that active government intervention in the marketplace and monetary policy is the best method of ensuring economic growth and stability. A supporter of Keynesian economics believes it is the government's job to smooth out the bumps in business cycles. Intervention would come in the form of government spending and tax breaks in order to stimulate the economy, and government spending cuts and tax hikes in good times, in order to curb inflation.Classical Economics 古典经济学Classical Economics refers to work done by a group of economists in the 18th and 19th centuries. They developed theories about the way markets and market economies work. The study was primarily concerned with the dynamics of economic growth. It stressed economic freedom and promoted ideas such as laissez-faire and free competition. Famous economists of this thinking include Adam Smith, David Ricardo, Thomas Malthus, and John Stuart Mill.Equilibrium of AD and AS 总供给和总需求的均衡supply and demand result in an equilibrium price (the interest rate)Stagflation 滞胀A condition of slow economic growth and relatively high unemployment - a time of stagnation - accompanied by a rise in prices, or inflation.第三章Fiscal Policy 财政政策Government spending policies that influence macroeconomic conditions. These policies affect tax rates, interest rates, and government spending, in an effort to control the economy.Government spending 政府支出consists of government purchases, including transfer payments, which can be financed by seigniorage (the creation of money for government funding), taxes, or government borrowing It is considered to be one of the major components of gross domestic product.Multiplier Effect 乘数效应The expansion of a country's money supply that results from banks being able to lend. The size of the multiplier effect depends on the percentage of deposits that banks are required to hold on reserves. In other words, it is money used to create more money and calculated by dividing total bank deposits by the reserve requirement.The multiplier effect depends on the set reserve requirement. The higher the reserve requirement, the tighter the money supply, which results in a lower multiplier effect for every dollar deposited. The lower the reserve requirement, the larger the money supply, which means more money is being created for every dollar deposited.Crowding Out Effect 挤出效应An economic theory explaining an increase in interest rates due to rising government borrowing in the money market.Notes:Governments often borrow money (by issuing bonds) to fund additional spending. The problem occurs when government debt 'crowds out' private companies and individuals from the lending market. Increased government borrowing tends to increase market interest rates. The problem is that the government can always pay the market interest rate, but there comes a point when corporations and individuals can no longer afford to borrow.Marginal propensity to consume （MPC）边际消费倾向refers to the increase in personal consumer spending (consumption) that occurs with an increase in disposable income (income after taxes and transfers). For example, if a household earns one extra dollar of disposable income, and the marginal propensity to consume is 0.65, then of that dollar, the family will spend 65 cents and save 35 cents.Mathematically, the marginal propensity to consume (MPC) function is expressed as the derivative of the consumption (C) function with respect to disposable income (Y).In other words, the marginal propensity to consume is measured as the ratio of the change in consumption to the change in income, thus giving us a figure between 0 and 1. One minus the MPC equals the marginal propensity to save.Marginal propensity to save (MPS) 边际储蓄倾向refers to the increase in saving (non-purchase of current goods and services) that results from an increase in income. For example, if a family earns one extra dollar, and the marginal propensity to save is 0.35, then of that dollar, the family will spend 65 cents and save 35 cents. It can also go the other way, referring to the decrease in saving that results from a decrease in income. It is crucial to Keynesian economics and is the key variable determining the value of the multiplier. Mathematically, the marginal propensity to save (MPS) function is expressed as the derivative of the savings (S) function with respect to disposable income (Y).In other words, the marginal propensity to save is measured as the ratio of the change in saving to the change in income, thus giving us a figure between 0 and 1. It is the opposite of the marginal propensity to consume (MPC). In the example above, the marginal propensity to consume would be 0.65. In general MPS = 1 - MPC.Money Supply 货币供给（与书异）The entire quantity of bills, coins, loans, credit, and other liquid instruments in a country's economy. Money supply is divided into three categories--M1, M2, and M3--according to the type and size of account in which the instrument is kept. The money supply is important to economists trying to understand how policies will affect interest rates and growth.M1The category of the money supply that includes all physical money like coins and currency. It also includes demand deposits, which are checking accounts and NOW accounts. M1 is the narrowest idea of "money." This is used as a measurement for economists trying to quantify the amount of money in circulation.M2A category within the money supply that includes M1 in addition to all time-related deposits, savings deposits, andnon-institutional money-market funds. M2 is a broader classification of money than M1. Economists use M2 when looking to quantify the amount of money in circulation and trying to explain different economic monetary conditions.M3The category of the money supply that includes M2 as well as all large time deposits, institutional money-market funds, short-term repurchase agreements, along with other larger liquid assets. This is the broadest measure of money it is used by economists to estimate the entire supply of money within an economy.（书没有）Fiat Money 【美】（根据政府法令发行的）不兑现纸币Money that a government has declared to be legal tender, despite the fact that it has no intrinsic value and is not backed by reserves. Most of the world's paper money is fiat money.Legal tender 合法货币；偿付债务时债主必须接受的货币is payment that cannot be refused in settlement of a debt by virtue of law.Transactions demand交易性需求is the demand or foreign currency. It is used for purposes of business transactions and personal consumption. transactions demand is one of the determinants of demand for money (and credit).Speculative demand 投机性需求is the demand for financial assets, such as securities, money or foreign currency, or financing. It is one of the determinants of demand for money (and credit).Liquidity Preference Theory 流动性偏好理论The hypothesis that forward rates offer a premium over expected future spot rates. Proponents of this theory believe that, according to the term structure of interest rates, investors are risk-averse and will demand a premium for securities with longer maturities. A premium is offered by way of greater forward rates in order to attract investors to longer-term securities. The premium received normally increases at a decreasing rate due to downward pressure from the decreasing volatility of interest rates as the term to maturity increases. Also known as "liquidity preference hypothesis."Interest Rate 利率The monthly effective rate paid (or received if you are a creditor) on borrowed money. Expressed as a percentage of the sum borrowed.Nominal Interest Rate/the money interest rate名义利率The interest rate unadjusted for inflation. Not taking into account inflation gives a less realistic number.Real Interest Rate 实际利率The amount by which the nominal interest rate is higher than the inflation rate. The real rate of interest is approximated by taking the nominal interest rate and subtracting inflation. The real interest rate is the growth rate of purchasing power derived from an investment.Intermediate targets 中间目标An intermediate target is a variable (such as the money supply) that is not directly under the control of the central bank, but that does respond fairly quickly to policy actions, is observable frequently and bears a predictable relationship to the ultimate goals of policy.Open Market Operations 公开市场业务The buying and selling of government securities in the open market in order to expand or contract the amount of money in the banking system. Purchases inject money into the banking system and stimulate growth while sales of securities do the opposite. Notes: Open market operations are the principal tools of monetary policy. (The discount rate and reserve requirements are also used.) The U.S. Federal Reserve's goal in using this technique is to adjust the federal funds rate--the rate at which banks borrow reserves from each other.Discount Rate 贴现率The interest rate that an eligible depository institution is charged to borrow short-term funds directly from a Federal Reserve Bank. This type of borrowing from the Fed is fairly limited. Institutions will often seek other means of meeting short-term liquidity needs. The Federal funds discount rate is one of two interest rates the Fed sets, the other being the overnight lending rate, or the Fed funds rate.Lender of Last Resort 最后的贷款者/偿付者An institution, usually a country's central bank, that offers loans to banks or other eligible institutions that are experiencing financial difficulty or are considered highly risky or near collapse. In the U.S. the Federal Reserve acts as the lender of last resort to institutions that do not have any other means of borrowing and whose failure to obtain credit would dramatically affect the economy.Notes: The lender of last resort functions both to protect individuals who have deposited funds, and to prevent panic withdrawing from banks who have temporary limited liquidity. Commercial banks usually try not to borrow from the lender of last resort because such action indicates that the bank is experiencing financial crisis. Critics of the lender-of-last-resort methodology suspect that the safety it provides inadvertently tempts qualifying institutions to acquire more risk than necessary - since they are more likely to perceive the potential consequences of risky actions to be less severe.Reserve Requirements 法定准备金Requirements regarding the amount of funds that banks must hold in reserve against deposits made by their customers. This money must be in the bank's vaults or at the closest Federal Reserve Bank.Notes: Set by the Fed's Board of Governors, reserve requirements are one of the three main tools of monetary policy. The other two tools are open market operations and the discount rate. Also known as required reserves.第四章Supply-side economics 供给经济学A theory of economics that reductions in tax rates will stimulate investment and in turn will benefit the entire society.Laffer Curve 拉弗尔曲线Invented by Arthur Laffer, this curve shows the relationship between tax rates and tax revenue collected by governments. The chart below shows the Laffer Curve:The curve suggests that, as taxes increase from low levels, tax revenue collected by the government also increases. It also shows that tax rates increasing after a certain point (T*) would cause people not to work as hard or not at all, thereby reducing tax revenue. Eventually, if tax rates reached 100% (the far right of the curve), then all people would choose not to work because everything they earned would go to the government.Notes: Governments would like to be at point T*, because it is the point at which the government collects maximum amount of tax revenue while people continue to work hard.Tax revenue税收is the income that is gained by governments because of taxation of the peopleBudget deficit 联邦预算赤字The amount by which government spending exceeds government revenues.Unemployment benefits 失业救济are sums of money given to the unemployed by the government or a compulsory para-governmental insurance system. Depending on the jurisdiction and the status of the person, those sums may be meager, covering only basic needs (thus a form of basic welfare), or may compensate the lost pay somewhat proportionally to the previous earned salary. They often are part of a larger social security scheme. Unemployment benefits are generally given only to those registering as unemployed, and often on conditions ensuring that they seek work and do not currently have a job.Capital Stock 资本存量The common and preferred stock a company is authorized to issue, according to their corporate charter.Notes: Capital stock are normally listed on a company's balance sheet. In financial statement analysis, an increasing capital stock account tends to be a sign of economic health since the company can use the additional proceeds to invest in projects or machinery that will increase corporate profits and/or efficiency.i ncomes policies 收入政策are wage and price controls used to fight inflation.第五章Mercantilism 重商主义is the economic theory that a nation's prosperity depends upon its supply of capital and that the total volume of trade is unchangeable. The amount of capital, represented by bullion（金条）, is best increased through a favourable balance of trade. Mercantilism suggests that the government should advance these goals by playing an active, protectionist role in the economy by encouraging exports and discouraging imports, especially through the use of tariffs. The economic policy that flourished in the early modern period is often referred to as the mercantile system.Trade deficit or surplus 贸易逆差或顺差The difference in the value of a nation's imports over exports (deficit) or exports over imports (surplus).Trade Surplus 贸易顺差/ export surplus出口顺差A nation's excess of exports over imports during a given time frame.Zero-Sum Game。

Absolute advantage 绝对优势Absolute income hypothesis of consumption 绝对收入消费理论Acceleration principle 加速原理Action lag 政策时滞Active deposit 活期存款Adaptive expectation 适应性预期Adverse selection 逆向选择Aggregate analysis 总量分析Aggregate demand 总需求Aggregate demand curve 总需求曲线Aggregate supply 总供给Aggregate supply curve 总供给曲线Allocation of resources 资源配置Antitrust law 反托拉斯法Arc elasticity 弧弹性Asset 资产Asymmetric information 信息不对称性Auctioneer 拍卖人Automatic stabilizer 自动稳定器Autonomous planned investment 自主投资Average cost 平均成本Average fixed cost 平均固定成本Average product 平均产量Average propensity to consume 平均消费倾向Average propensity to saving 平均储蓄倾向Average revenue 平均收益Average total cost 平均总成本Average variable cost 平均可变成本Balance of international payment 国际收支平衡Balanced of budget 平衡预算Balanced budget multiplier 平衡预算乘数Balanced-output 均衡产出Bank reserves 银行准备金Barter 物物交换Base year 基年Black market 黑市Bonds 债券Breakeven point 收支相抵点Budget deficit 预算赤字Budget surplus 预算盈余Budget line 预算线Built-in stabilizers 内在稳定器Business cycle 经济周期Business fluctuation 经济波动Capital 资本Capital deeping 资本深化Capital market 资本市场Capital widening 资本广化Capital-output ration 资本产出比Cardinal utility theory 基数效用论Cartel 卡特尔Central bank 中央银行Checking account 支票账户Classical economics 古典经济学Clearing market 市场出清Coase theorem 科斯定理Cobweb model 蛛网模型Collusion 串谋Commercial bank 商业银行Common resource 公共资源Common stock 普通股票Comparative cost theory 比较成本说Comparative static analysis 比较静态分析Compensated budget line 补偿预算线Competition 竞争Competitive market 竞争性市场Complement goods 互补品Complete information 完全信息Condition for efficiency in exchange 交换的最优条件Condition for efficiency in production 生产的最优条件Constant cost industry 成本不变行业Constant returns to scale 规模收益不变Consumer price index 消费价格指数Consumer sovereignty 消费者统治Consumer surplus 消费者剩余Consumer preference 消费者偏好Consumer equilibrium 消费者均衡Consumption demand 消费需求Consumption function 消费函数Contract curve 契约曲线Corporate income tax 公司所得税Corporation 公司Cost function 成本函数Cost-benefit analysis 成本收益分析Cost-push inflation 成本推动的通货膨胀Cournot model 古诺模型Credit 信贷Cross price elasticity of demand 需求的交叉价格弹性Crowding out 挤出效应Cyclical unemployment 周期性失业Decreasing cost industry 成本递减行业Decreasing returns to scale 规模收益递减Deflation 通货收缩Demand 需求Demand curve 需求曲线Demand for money 货币需求Demand function 需求函数Demand price 需求价格Demand schedule 需求表Demand-pull inflation需求拉动的通货膨胀Depreciation 折旧Depression 萧条Derived demand 引致需求Devaluation 贬值Differentiated oligopoly industry 差别寡头行业Diminishing returns 边际报酬递减Discount rate 贴现率Discounting 贴现Discretionary 相机抉择Discretionary fiscal policy 斟酌使用的财政政策Disequilibrium 非均衡Disinvestment 负投资Disposable personal income 可支配收入Distribution 分配Distribution theory of marginal production 边际生产率分配论需求向下倾斜规律Durable goods 双头垄断Dynamic analysis 动态分析Dynamic models 动态模型Easy money policy 扩张性货币政策Economic development 经济发展Economic efficiency 经济效率Economic growth 经济增长Economic man 经济人Economic model 经济模型Economic profit 经济利润Economic rent 经济租金Economic stabilization 经济稳定政策Economics of information 信息经济学Economies of scale规模经济Edgeworth box 埃奇沃斯盒Effective demand 有效需求Effects of fiscal policy 财政政策效果Effects of monetary policy 货币政策效果Efficiency 效率Elastic demand 有弹性的需求Elasticity 弹性Elasticity if demand 弹性需求Endogenous growth 内生增长Endogenous variable 内生变量Engel’s curve 恩格尔曲线Engel’s law 恩格尔定律Entrepreneur 企业家Entrepreneurship 企业家才能Envelope curve 包络曲线Equation of cost 成本方程Equation of exchange 交易方程Equilibrium 均衡Equilibrium growth 均衡增长Equilibrium of capital market 资本市场的均衡Equilibrium output 均衡产出Equilibrium price 均衡价格Equilibrium quantity 均衡数量Euler theorem 欧拉定理Excess reserve 超额准备金Excess reserves ratio 超额准备金率Exchange 交换Exchange contract curve 交换的契约曲线Exchange rate 汇率Exclusion principle 排他性原则Existence of general equilibrium 一般均衡的存在性Exogenous variable 外生变量Expansion path 扩展线Expectation 预期Expected utility 期望效用Expenditure method 支出法Explicit cost 显性成本Export 出口External diseconomies 外部不经济External economies 外部经济External effects or externalities 外部影响（外在性）Factor demand 要素需求Factor demand curve 要素需求曲线Factor demand curve of firm 厂商对要素的需求曲线Factor demand curve of market 市场对要素的需求曲线Factor market 要素市场Factor supply 要素供给Factors of production 生产要素Federal reserve system 联邦储蓄体系Final goods 最终产品Financial derivatives 金融衍生品Financial market 金融市场Firm 厂商Fiscal budget 财政预算Fiscal policy 财政政策Fiscal restrain 财政紧缩Fixed cost 固定成本Fixed exchange rate 固定汇率Fixed input 不变投入Flexible exchange rate 浮动汇率Flow 流量Foreign exchange外汇Foreign trade 对外贸易Foreign trade multiplier 对外贸易乘数Free rider 搭便车者Free trade 自由贸易Frictional unemployment 摩擦性失业Full employment 充分就业Full employment budget surplus 充分就业预算盈余Functional finance 功能财政Future 期货Galloping inflation 奔腾的通货膨胀Game theory 博弈论GDP deflator 国内生产总值平减指数General equilibrium 一般均衡General equilibrium position 一般均衡状态Giffen goods 吉芬商品Gini coefficient 基尼系数Golden rules of economic growth 经济增长的黄金率水平Government expenditure multiplier 政府支出乘数Government purchase 政府购买Government regulation 政府管制Gross domestic product 国内生产总值Gross investment 总投资Gross national product 国民生产总值High-powered money 高能货币Hyperinflation 超级通货膨胀h-o model h-o模型ideal output 理想的产量identity between saving and investment 储蓄-投资恒等式imperfect competition 不完全竞争implicit cost 隐性成本imports 进口impossibility theorem 不可能定理income 收入income effect 收入效应income elasticity of demand 需求的收入弹性income method 收入法income theory 收入理论income velocity of money 货币的收入流通速度increasing cost industry 成本递增行业increasing returns to scale 规模收益递增index number 指数indifference curve 无差异曲线indirect taxes 间接税individual analysis 个量分析induced investment 引致投资industry 行业inefficiency of monopoly 垄断的低效率inelasticity 缺乏弹性inferior good 抵档品inferior goods 劣等品inflation 通货膨胀innovation 创新input 投入input-output 投入-产出input-output analysis 投产出分析inside lag 内在时滞instrument of fiscal control 财政政策工具instrument of monetary control 货币政策工具monetary policy tool 货币政策工具insurance 保险interest 利息interest rate 利率interest rate elasticity elasticity 利率弹性intermediate cycle 中周期intermediate goods 中间产品international division of labor 国际分工inventory investment 存活投资investment 投资investment demand 投资需求investment function 投资函数investment multiplier 投资乘数investment taxes credit 投资税抵免invisible hand theorem 看不见手定理involuntary unemployment 非资源失业is curve is曲线is-lm analysis is-lm分析isocost line 等成本线isoquant line 等产量线Keynesian economics 凯恩斯经济学Keynesian revolution 凯恩斯革命Keynesian trop凯恩斯陷阱Keynesianism 凯恩斯主义Keynes’s law 凯恩斯定律Kinded demand curve 弯折的需求曲线Laspeyre’s formula 拉斯拜尔公式Labor 劳动Labor theory of value 劳动价值论Laissez faire 自由放任Land 土地Land price 土地价格Law of diminishing marginal utility 边际效用递减规律Least-cost production 最低成本生产Liabilities 负债Life cycle hypothesis 生命周期假说Life cycle hypothesis of consumption 消费的生命周期假说Liquidity preference 流动性偏好Liquidity trap 流动性偏好陷阱Lm curve lm曲线Long cycle 长周期Long run 长期Long run consumption decision 长期消费决策Lorenz curve 洛伦兹曲线Lottery ticket 彩票Low inflation 温和的通货膨胀Luxury 奢侈品Macroeconomics 宏观经济学Marginal cost 边际成本Marginal cost of factor 边际要素成本Marginal efficiency of capital 资本边际效率Marginal efficiency of investment投资的边际效率Marginal product 边际产量Marginal productivity 边际生产率Marginal propensity to consume 边际消费倾向Marginal propensity to save 边际储蓄倾向Marginal rate of substitution of commodities 边际商品替代率Marginal rate of technical substitution 边际技术替代率Marginal revenue 边际收益Marginal revenue product 边际收益产品Marginal tax rate 边际税率Marginal utility 边际效用Market 市场Market failure 市场失灵Market structure 市场结构Menu cost菜单成本Mercantilism 重商主义Microeconomics 微观经济学Misery index 痛苦指数Mixed economy 混合经济Model 模型Monetarism 货币主义Monetary base 基础货币Monetary illusion 货币幻觉Monetary policy 货币政策Monetary-fiscal policy mix 政策的混合使用Money 货币Money markets 货币市场Money multiplier 货币乘数Money supply 货币供给Monopolistic competition 垄断竞争Monopoly 垄断Monopoly 卖方垄断Monopsony 买方垄断Moral hazard 道德风险Moral suasion 道义上的劝告Mortgage credit 抵押贷款Multiplier 乘数Multiplier effect 乘数效应Multiplier theory 乘数利率Multiplier-acceleration interaction 乘数加速数相互作用Nash equilibrium 纳什均衡National income 国民收入Natural monopoly 自然垄断Natural rate of unemployment 自然失业率Natural supply 自然供给Necessity 必需品Net domestic product 国内净生产值Net exports 进出口Net investment 净投资New-classic school 新古典学派New-classical growth model 新古典增长模型Nominal GDP 名义GDPNormal goods 正常物品Normal profit 正常利润Normative economics 规范经济学Okun’S law 奥肯定律Oligopoly 寡头垄断Oligopoly market 寡头市场Open market operation 公开市场操作Opportunity cost 机会成本Optimality of general equilibrium 一般均衡最优性Optimum plant size 最优生产规模Option 期权Ordinal utility theory 序数效应论Outside lag 外在时滞Paassche’s formula 帕煦公式Parameter 参数Pareto criterion 帕累托标准Pareto efficiency 帕累托效率Pareto improvement 帕累托改进Pareto optimality 帕累托最优Partial equilibrium 局部均衡Payment or expenditure 支出Perfect competition market 完全竞争市场Perfect elasticity 完全弹性Perfect inelasticity 完全无弹性Permanent income hypothesis 永久收入假说Permanent income hypothesis of income 永久收入消费假说Personal disposable income 个人可支配收入Personal income 个人收入Personal income tax 个人所得税Philips curve 菲利普斯曲线Point elasticity 点弹性Positive economics 实证经济学Potential GDP 潜在GDPPrecautionary demand 预防需求Preference 偏好Present value 现值Price discrimination 价格歧视Price elasticity of demand 需求的价格弹性Price elasticity of supply 供给的价格弹性Price expansion path 价格扩展线Price index 价格指数Price rigidity 价格刚性Price stabilization 价格稳定Price theory 价格理论Price-consumption curve 价格消费曲线Principal-agent 委托-代理Prisoner’s dilemma 囚徒困境Private cost 私人成本Private goods 私人物品Producer 生产者Producer surplus 生产者剩余Product differentiation 生产差别Product function 生产函数Product markets 产品市场Production market 产品契约曲线Production group 生产集团Production possibility curve 生产可能性曲线Productivity 生产率Profit 利润Progressive tax 累进税Proportional tax 比例税Prosperity 繁荣Public choice 公共选择Public debt 公债Public goods 公共物品Purchasing power parity 购买力平价Pure oligopoly industry 纯粹寡头行业Quantity equation of exchange 货币数量交易方程Quantity theory of money 货币数量论Quasi-rent 准租金Quotas 配额Rate of rediscount policy 再贴现率政策Rational expectation 理性预期Rational man 理性人Real business cycle 实际经济周期Real GDP 实际GDPReal interest rate 实际利率Real wages 实际工资Recession衰退Regressive tax 累退税Relative income hypothesis 相对收入假说Relative income hypothesis of consumption 相对收入消费理论Rent 租金Rent-seeking 寻租Replacement investment 重置投资Reputation 信誉Required reserves or legal reserve 法定准备金Reserve 准备金Reserve rate 准备率Revenue 收益Rigid price 刚性价格Risk 风险Risk averter 风险回避者Risk lover 风险爱好者Risk neutral 风险中立者Saving 储蓄Say’S law 萨伊定律Scarcity 稀缺Second best 次优Security market 证券市场Service 劳务Short cycle 短周期Short run 短期Single rule 单一规则Social cost 社会成本Social walfare function 社会福利函数Speculative demand 投机需求Supply-side economics 供给学派Stability of general equilibrium 一般均衡的稳定性Stagflation 滞胀Staggered contracts 交错合同Static analysis 静态分析Static model 静态模型Sticky price 黏性价格Sticky wages 黏性工资Stock 股票Structural inflation 结构性通货膨胀Structural unemployment 结构性失业Subprime lending crisis 次贷危机Subsidy 津贴Substitutes 替代品Substitution effect 替代效应Supply 供给Supply curve 供给曲线Supply curve of capital 资本供给曲线Supply curve of factor 要素供给曲线Supply curve of labor 劳动供给曲线Supply curve of land 土地供给曲线Supply economics 供给经济学Supply function 供给函数Supply schedule 供给表System of material product balances 物质产品平衡体系System of national accounts 国民经济核算体系Tariff 关税Tatonnement process 试探过程Tax multiplier 税收乘数Taylor rule 泰勒规则Technological advance 技术进步The financial crisis 金融危机The precautionary motive 预防性动机The rate of unemployment 失业率The speculative motive 投机动机The transactional motive 交易动机Theory of economics of scale 规模经济理论Tight-money policy 紧缩性货币政策Time deposit 定期存款Time inconsistency 时间不一致性Tobin’s q theory 托宾的q 说Total cost 总成本理论Total fixed cost 总固定成本Total product 总成本Total revenue 总收益Total utility 总效用Total variable cost 总变动成本Transaction demand 交易需求Transactions cost 交易成本Transfer payment 转移支付Transfer payment multiplier 转移支付乘数Treasury bills 国库券Uncertainty 不确定性Undiftributed profit 未分配理论Unemployment 失业Unintended investment 非意愿投资Uniqueness of general equilibrium 一般均衡的唯一性Unitary elasticity 单一弹性Utility 效用Utility function 效用函数Utility possibility curve 效用可能性曲线Value of marginal product 边际产品价值Value-added tax 增值税Variable cost 可变成本Variable input 可变投入Velocity of money 货币流通速度Voluntary of unemployment 自愿失业Vulgar economics 庸俗经济学Wage 工资Walras general equilibrium 瓦尔拉斯一般均衡Wealth 财富Welfare 福利Welfare economics 福利经济学Wholesale price index 批发价格指数。