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微观经济学microeconomics Chapter1PPT课件

微观经济学microeconomics Chapter1PPT课件
of alternatives.
• Whether to go to college or to work? • Whether to study or go out on a date? • Whether to go to class or sleep in?
Principle #1: People Face Trade-offs.
• To get one thing, we usually have to give up another thing.
• Bicycle v. butter • Food v. clothing • Leisure time v. work • Efficiency v. equity
© 22000171ThCoemnsgoangSeoSutohu-Wthe-sWterenstern
TEN PRINCIPLES OF ECONOMICS
Economics is the study of how society manages its scarce resources.
© 22000171ThCoemnsgoangSeoSutohu-Wthe-sWterenstern
© 20©1120C0e7nTghaogmesoSnoSuotuht-hW-Weesstteernn
Principle #2: The Cost of Something Is What You Give Up to Get It. • Decisions require comparing costs and benefits
• Efficiency means society gets the most that it can from its scarce resources.

平狄克微观经济学课件英文01精品文档19页

平狄克微观经济学课件英文01精品文档19页

Chapter 1: Preliminaries
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall • Microeconomics • Pindyck/Rubinfeld, 7e.
4 of 18
1.1 THE THEMES OF MICROECONOMICS
Theories and Models
In economics, explanation and prediction are based on theories. Theories are developed to explain observed phenomena in terms of a set of basic rules and assumptions.
Workers Workers also face constraints and make trade-offs. First, people must decide whether and when to enter the workforce. Second, workers face trade-offs in their choice of employment. Finally, workers must sometimes decide how many hours per week they wish to work, thereby trading off labor for leisure.
In a market economy, prices are determined by the interactions of consumers, workers, and firms. These interactions occur in markets—collections of buyers and sellers that together determine the price of a good.

《微观经济学英》PPT课件

《微观经济学英》PPT课件

Edited by Yong, E.L.
精选ppt
15
Continuously,
Microeconomics is also used for evaluating broad question in regards to government policy (although this is more to macroeconomics).
Edited by Yong, E.L.
精选ppt
8
Continuously,
If the firm produces 10 units of apple and 6 units of apple pie wants to increase the production of apple pie by one unit to the 7th unit. It has to forgo 1 unit of apple so that resources can be shifted to produce the additional apple pie; Opportunity Cost is thus 1.
3) Give a point to how this might be disturbed.
- If Health Ministry imposes a new law to reduce apple pie due to obesity in children and increase apple production, the producer may not be able to find the best combination of resources for the new plan of production set by the government.

chapter_16 General Equilibrium and Economic Efficiency 平狄克微观英文版课件

chapter_16 General Equilibrium and Economic Efficiency 平狄克微观英文版课件

Chapter 1
Slide 7
Two Interdependent Markets: Movie Tickets and Videocassette Rentals
Price
Assume the government imposes a $1 tax on each movie ticket.
S*M
QV Q’V
DV
Number of Videos
Two Interdependent Markets: Movie Tickets and Videocassette Rentals
Price
$6.82 $6.75 $6.35
$6.00
The increase in the price of videos increases the
Chapter 1
Slide 20
Efficiency in Exchange
10F
6C
James’s Clothing
A: UJ1 = UK1, but the MRS is not equal. All combinations in the shaded
area are preferred to A.
Chapter 1
Slide 16
The Advantage of Trade
Individual Initial Allocation Trade Final Allocation
James 7F, 1C -1F, +1C 6F, 2C
Karen 3F, 5C +1F, -1C 4F, 4C
Karen’s MRS of food for clothing is 3. James’s MRS of food for clothing is 1/2. Karen and James are willing to trade: Karen trades 1C for 1F. When the MRS is not equal, there is gain from trade. The economically efficient allocation occurs when the MRS is equal.

微观经济学英文版PPT课件

微观经济学英文版PPT课件
Or, the opportunity cost that use a certain resource is the highest price of abandoning other uses of this resource
10
2.2 the definition of microeconomics
The starting point of economics searching The definition of Microeconomics People how to make decision Why need to bargain Why need to build market economics
Economics is a study, learning selection of scarce resources with different uses; The goal is effective allocation of scarce resources to produce goods and services, and in the present or future, let them reasonable allocated to social members or group for consumption.
8
Production possibilities curve
PPC is a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology.

(微观经济学英文课件)Chap 1 Introduction

(微观经济学英文课件)Chap 1 Introduction
Principles of Economics
by
N. Gregory Mankiw
Assessment
Component
Weighting (%)
Individual participation Class Attendance Final Examination – Closed Book
Scarcity . . .
. . . means that society has limited resources and therefore cannot produce all the goods and services people wish to have.
Economics
Economics is the study of how society manages its scarce resources.
among the least-skilled.
?
Two Roles of Economists
When they are trying to explain the world, they are scientists. When they are trying to change the world, they are policymakers.
15% 15% 70%
TOTAL
100%
Introduction
Thinking Like an Economist
Chapter 2
Economy. . .
. . . The word economy comes from a Greek word for “one who manages a household.”

微观经济学英文版精品PPT课件

微观经济学英文版精品PPT课件

Chapter 1: The Fundamentals of Economics（A. Introduction）
1.2 Microeconomics and Macroeconomics
What is Microeconomics ?
It is concerned with the behavior of individual entities such as markets, firms and households.
You want to buy a computer which is $2510. while it is $2500 in the supermarket in downtown. Wherever you buy the computer, it would return to the producer if there is any problem. Where would you buy it？
There are three types of economies:
Market economy Command economy Mixed economy
Chapter 1: The Fundamentals of Economics (C. Society’s technological possibilities)
Chapter 1: The Fundamentals of Economics（A. Introduction）
1.1 Scarcity and Efficiency
What is economics ?
Economics is the study f how societies use scarce resources to produce valuable commodities and distribute them among different people.

平狄克微观经济学Externalities and Public GoodsPPT课件

平狄克微观经济学Externalities and Public GoodsPPT课件

©2005 Pearson Education, Inc.
Chapter 18
2
Externalities
Externalities arise between producers, between consumers, or between producers and consumers
Externalities are the effects of production and consumption activities not directly reflected in the market
q1 q*
©2005 Pearson Education, Inc.
Chapter 18
Repair Level
13
Ways of Correcting Market Failure
Assumption: The market failure is pollution
Output decision and emissions decision are independent
Additional cost to firm of controlling pollution Downward sloping because when emissions
are high, there is little cost to controlling them
Large reductions require costly changes in production process
©2005 Pearson Education, Inc.
Chapter 18
4
Externalities

【复旦大学本科讲义-平狄克微观经济学PPT】common property-英文版

【复旦大学本科讲义-平狄克微观经济学PPT】common property-英文版
• Clean Air Act of 1990 sets national airquality standards for major pollutants: 0.12 parts per million (ppm)
• California Air Resources Board (CARB) has an even tighter standard: 0.09 ppm
externalities 5. common property 6. public goods
Externalities
externality occurs if • someone's consumption or production
activities hurt or help others outside a market • well-being of a consumer or production capability of a firm are affected directly by actions of other consumers or firms, rather than indirectly through changes in prices
Emissions Standards for Ozone
Monopoly and externalities
• monopoly output may be less than social optimum even with an externality
• competition is not necessarily better than a monopoly with an externality
Cost-benefit analysis

《微观经济学microeconomics》英文版全套课件(101页)

《微观经济学microeconomics》英文版全套课件(101页)
X RL {x R : xl 0 for l 1,..., L}
The economic constraint:
px p1x1 ... pL xL w
The Walrasian budget set (Definition 2.D.1)
Bp,w {x RL : px w}
or
u(x* ) xl
pl
px w
Solution: Walrasian demand function x*( p, w)
Utility Maximization -- Example
Example 3.D.1: the transformed Cobb-Douglas Utility Function
Expenditure Function
Expenditure function e( p,u) Min px s.t. u(x) u {x}
Properties: 1. Homogeneous of degree of one in p 2. Strictly increasing in u and nondecreasing in p 3. Concave in p 4. Continuous in p and u
Comparative Statics – Wealth Effects
The consumer’s Engel function x( p, w)
The wealth effect xl ( p, w) / w or Dwx( p, w) Normal goods and inferior goods
A choice rule C(B) B
The weak axiom of revealed preference (WARP): if x is revealed at least as good as y, then y cannot be revealed preferred to x

微观经济学(平狄克、鲁宾费尔德)最新版(第六版) 英文原版PPTCh01_Pindyck

微观经济学(平狄克、鲁宾费尔德)最新版(第六版) 英文原版PPTCh01_Pindyck

11
Theories and Models
Validating a Theory
The validity of a theory is determined by the quality of its prediction, given the assumptions Theories must be tested and refined Theories are invariably imperfect – but gives much insight into observed phenomena
©2005 Pearson Education, Inc.
Chapter 1
15
What is a Market?
Market Definition
Determination of the buyers, sellers, and range of products that should be included in a particular market
What choices do individuals make in terms of jobs or workplaces? How many hours do individuals choose to work?
Trade-off of labor and leisure
©2005 Pearson Education, Inc.
©2005 Pearson Education, Inc.
©2005 Pearson Education, Inc.
Chapter 1
8
Themes of Microeconomics
Prices
How are prices determined?

【复旦大学本科讲义-平狄克微观经济学PPT】General Equilibrium-英文版

【复旦大学本科讲义-平狄克微观经济学PPT】General Equilibrium-英文版
• through demand • through supply
• because output in one market is an input in another
Partial vs. General Equilibrium
• study equilibrium in several—but not all— markets simultaneously
• shock in one market has spillover effect in another market
• general-equilibrium analysis takes account of spillover, unlike partial-equilibrium analysis
Is it possible to pay Peter without robbing Paul?
General Equilibrium
• Magnitude of spillover effects • General vs. partial equilibrium models
Pareto-Efficient Equilibrium
• doing so is OK for small markets (hoola hoops)
General-equilibrium analysis
• study of how equilibrium is determined in all markets simultaneously an event in one market may have a spillover effect on other markets may be linked

平狄克 微观经济学 英文课件—chapter_1

平狄克 微观经济学 英文课件—chapter_1

Chapter 1: Preliminaries
Slide 11
The Themes of Microeconomics

Microeconomics and Prices
The How
role of prices in a market economy prices are determined
Slide 3
Preliminaries

Microeconomics deals with:

Behavior of individual units
When
•
Producing
How we choose what to produce
Chapter 1: Preliminaries
Slide 4
Chapter 1: Preliminaries
Slide 29
What is a Market?

Examples
Markets

for Prescription Drugs
Well-defined markets - therapeutic drugs

Ambiguous markets - painkillers
“You
can’t always get what you want”
*Economics degree from London School of Economics
Chapter 1: Preliminaries
Slide 8
The Themes of Microeconomics

Why Not?
Chapter 1: Preliminaries

chapter_7 The Cost of Production 平狄克微观英文版课件

chapter_7 The Cost of Production 平狄克微观英文版课件
Chapter 7
The Cost of Production
Introduction
The production technology measures the relationship between input and output.
Given the production technology, managers must choose how to produce.
Chapter 1
Slide 12
Choosing the Location for a New Law School Building
Northwestern University Law School
3) Choosing a Site
Chicago location chosen--very costly
Chapter 1
Slide 5
Measuring Cost: Which Costs Matter?
Economic Cost vs. Accounting Cost
Accounting Cost
Actual expenses plus depreciation charges for capital equipment
Chapter 1
Slide 15
Measuring Cost: Which Costs Matter?
Fixed Cost
Cost paid by a firm that is in business regardless of the level of output
Sunk Cost
Cost that have been incurred and cannot be recovered
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In a centrally planned economy, prices are set by the government. In a market economy, prices are determined by the interactions of consumers, workers, and firms. These interactions occur in markets—collections of buyers and sellers that together determine the price of a good.
In markets that are not perfectly competitive, different firms might charge different prices for the same product. This might happen because one firm is trying to win customers from its competitors, or because customers have brand loyalties that allow some firms to charge higher prices than others. The market prices of most goods will fluctuate over time, and for many goods the fluctuations can be rapid. This is particularly true for goods sold in competitive markets.
Copyright © 2013 Pearson Education, Inc. • Microeconomics • Pindyck/Rubinfeld, 8e.
2 of 18
1.1 The Themes of Microeconomics
Trade-Offs
CONSUMERS
Consumers have limited incomes, which can be spent on a wide variety of goods and services, or saved for the future.
Copyright © 2013 Pearson Education, Inc. • Microeconomics • Pindyck/Rubinfeld, 8e.
5 of 18
1.2 What Is a Market?
● market Collection of buyers and sellers that, through their actual or potential interactions, determine the price of a product or set of products.
• Market definition can be important for public policy decisions.
Copyright © 2013 Pearson Education, Inc. • Microeconomics • Pindyck/Rubinfeld, 8e.
9 of 18
Copyright © 2013 Pearson Education, Inc. • Microeconomics • Pindyck/Rubinfeld, 8e.
6 of 18
Competitive versus Noncompetitive Markets
● perfectly competitive market Market with many buyers and sellers, so that no single buyer or seller has a significant impact on price. Many other markets are competitive enough to be treated as if they were perfectly competitive. Other markets containing a small number of producers may still be treated as competitive for purposes of analysis. Finally, some markets contain many producers but are noncompetitive; that is, individual firms can jointly affect the price.
Copyright © 2013 Pearson Education, Inc. • Microeconomics • Pindyck/Rubinfeld, 8e.
4 of 18
Theories and Models
In economics, explanation and prediction are based on theories. Theories are developed to explain observed phenomena in terms of a set of basic rules and assumptions. A model is a mathematical representation, based on economic theory, of a firm, a market, or some other entity.
Market definition is important for two reasons:
• A company must understand who its actual and potential competitors are for
the various products that it sells or might sell in the future.
WORKERS Workers also face constraints and make trade-offs. First, people must decide whether and when to enter the workforce. Second, workers face trade-offs in their choice of employment. Finally, workers must sometimes decide how many hours per week they wish to work, thereby trading off labor for leisure. FIRMS Firms also face limits in terms of the kinds of products that they can produce, and the resources available to produce them.
● macroeconomics Branch of economics that deals with aggregate economic variables, such as the level and growth rate of national output, interest rates, unemployment, and inflation.
Copyright © 2013 Pearson Education, Inc. • Microeconomics • Pindyck/Rubinfeld, 8e. 3 of 18
Prices and Markets
Microeconomics describes how prices are determined.
Copyright © 2013 Pearson Education, Inc. • Microeconomics • Pindyck/Rubinfeld, 8e.
7 of 18
Market Price
● market price
Price prevailing in a competitive market.
CHAPTER
1
CHAPTER OUTLINE
1.1 1.2 1.3 1.4 The Themes of Microeconomics What Is a Market? Real versus Nominal Prices Why Study Microeconomics?
Preliminaries
EXAMPLE 1.1
THE MARKET FOR SWEETENERS
In 1990, the Archer-Daniels-Midland Company (ADM) acquired the Clinton Corn Processing Company (CCP). The U.S. Department of Justice (DOJ) challenged the acquisition on the grounds that it would lead to a dominant producer of corn syrup with the power to push prices above competitive levels. ADM fought the DOJ decision, and the case went to court. The basic issue was whether corn syrup represented a distinct market. ADM argued that sugar and corn syrup should be considered part of the same market because they are used interchangeably to sweeten a vast array of food products.