Chap-01Ten Principles of Economics經(jīng)濟學十大原理

1、Principles of EconomicsThird EditionbyN. Gregory Mankiw經(jīng)濟學原理（第三版）1Brief Description About This CourseWhat do we mean by Western Economics?Western economics versus Marxism Economics (political economy)Economics (in general)A useful definition Economics is the study of how a society allocates scarce r

2、esources among alternative uses to satisfy human wantsBasic Principle in this course2Why do we study economics?Understand the way the world works: An useful perspective to explain various events, including economic policiesDevelop rational thinking, guiding us to make correct individual decisionMake

3、 consistent judgments on economic phenomenaBasic knowledge for our major of business and economics3What Is Economics LikeInteresting economics: ideaBoring economics: techniqueUseful economics: Alan Greenspan, the chairman of the FedHow to study economics: Attend classRead textbook: guided by teachin

4、gDo exercisesRewrite your class notesConsult instructors4How to use this textbookGuided by class notesReorganize the contents in a way friendly to your thinkingRead summary in the end of each chapterChecking the glossary in the end of this bookRefer to other textbooks5Reference TextbooksPaul Samuels

5、on and William :EconomicsJ. Stiglitz: EconomicsGood examplesWilliam Baumol and Alan Blinder: Economics: Principles and Policy6Course PolicyAttending class is strongly recommended, although not requiredEnglish is required when writing final examFinal grade comes mainly from your performance in final

6、exam. Session tests or mid term tests are also counted.You are required to apply economics to explain various economic phenomena7Ten Principles of Economics經(jīng)濟學十大原理Chapter 18Economy. . .經(jīng)濟 . . . The word economy comes from a Greek word for “one who manages a household.” 經(jīng)濟一詞來源于希臘語，意思是“管理家庭的人”。9A hous

7、ehold and an economy face many decisions:一個家庭和經(jīng)濟體面臨很多決策：Who will work? 誰去工作？What goods and how many of them should be produced? 應該生產(chǎn)什么物品？應該生產(chǎn)多少？10A household and an economy face many decisions:一個家庭和經(jīng)濟體面臨很多決策：What resources should be used in production? 應該用什么資源生產(chǎn)？At what price should the goods be sol

8、d? 物品的銷售價格應該是多少？11Society and Scarce Resources:社會和稀缺資源：The management of societys resources is important because resources are scarce.因為資源是稀缺的，所以社會資源的管理就很重要。12Scarcity . . . 稀缺. . . means that society has limited resources and therefore cannot produce all the goods and services people wish to have.意

9、思是說，社會擁有有限的資源，不能生產(chǎn)出人們想要的所有物品與勞務。13Economics 經(jīng)濟學Economics is the study of how society manages its scarce resources. 經(jīng)濟學研究社會如何管理自己的稀缺資源的學科。14Economists study. . . 經(jīng)濟學家研究 How people make decisions.人們?nèi)绾巫鞒鰶Q策How people interact with each other.人們?nèi)绾闻c他人相互交易The forces and trends that affect the economy as a

10、whole. 影響整體經(jīng)濟的力量和趨勢15Ten Principles of EconomicsPeople face tradeoffs.The cost of something is what you give up to get it.Rational people think at the margin.People respond to incentives.How People Make Decisions16經(jīng)濟學十大原理人們面臨權衡取舍某東西的成本就是為得到它所放棄的東西理性人考慮邊際量人們會對激勵作出反應人們?nèi)绾巫鞒鰶Q策17Ten Principles of Economi

11、csTrade can make everyone better off.Markets are usually a good way to organize economic activity.Governments can sometimes improve economic outcomes.How People Interact with each other18經(jīng)濟學十大原理貿(mào)易可以使每個人狀況更好。市場通常是組織經(jīng)濟活動的一種好方法。政府有時能改善市場經(jīng)濟效果。人們?nèi)绾闻c他人相互交易19Ten Principles of EconomicsThe standard of livin

12、g depends on a countrys production.Prices rise when the government prints too much money.Society faces a short-run tradeoff between inflation and unemployment.The forces and trends that affect how the economy as a whole works20經(jīng)濟學十大原理一國的生活水平取決于它生產(chǎn)物品與勞務的能力。當政府發(fā)行了過多貨幣時，物價上升。社會面臨通貨膨脹與失業(yè)之間的短期權衡取舍。影響整體經(jīng)濟

13、如何運行的力量和趨勢21People face tradeoffs.人們面臨權衡取舍“There is no such thing as a free lunch!”天下沒有免費的午餐221. People face tradeoffs.To get one thing, we usually have to give up another thing. Guns v. butter Food v. clothing Leisure time v. work Efficiency v. equityMaking decisions requires trading off one goal a

14、gainst another.231.人們面臨權衡取舍為了得到我們喜愛的一件東西，我們通常不得不放棄另一件喜愛的東西。 大炮 vs.黃油 食物 vs. 衣服 休閑 vs. 工作 效率 vs. 平等 作決策時需要在兩個目標之間權衡取舍241. People face tradeoffs.Efficiency means society gets the most that it can from its scarce resources.Equity means the benefits of those resources are distributed fairly among the me

15、mbers of society.Efficiency v. Equity251.人們面臨權衡取舍效率 社會能從其稀缺資源中得到最多東西的特性。平等 社會資源的經(jīng)濟成果在社會成員中公平分配的特性。效率與平等262. The cost of something is what you give up to get it.Decisions require comparing costs and benefits of alternatives.Whether to go to college or to work?Whether to study or go out on a date?Whet

16、her to go to class or sleep in?272.某東西的成本就是為得到它所放棄的東西作出決策時需要比較可供選擇的行動方案的成本與收益上大學還是去工作?學習還是出去約會?去上課還是睡覺?282. The cost of something is what you give up to get it某東西的成本就是為得到它所放棄的東西The opportunity cost of an item is what you give up to obtain that item.機會成本為了得到某種東西所必需放棄的東西。292. The Cost of Something Is

17、What You Give Up to Get It.LA Laker basketball star Kobe Bryant chose to skip college and go straight from high school to the pros where he has earned millions of dollars.30當預期在四年之內(nèi)賺得上千萬美元時，高中籃球明星科比.布賴恩特（Kobe Bryant ）決定不讀大學而直接進入職業(yè)籃球聯(lián)盟（ NBA ）。2.某東西的成本就是為得到它所放棄的東西313. Rational people think at the marg

18、in理性人考慮邊際量Marginal changes are small, incremental adjustments to an existing plan of action.邊際變動對當前行動計劃微小的增量調(diào)整。People make decisions by comparing costs and benefits at the margin.人們作決策時需要比較邊際成本和邊際利益。324. People respond to incentives.Marginal changes in costs or benefits motivate people to respond.Th

19、e decision to choose one alternative over another occurs when that alternatives marginal benefits exceed its marginal costs!334. 人們會對激勵作出反應成本或收益的邊際改變會激勵人們作出反應。當一個方案的邊際收益大于邊際成本時，人們選擇這個方案，而不去選擇別的。345. Trade can make everyone better off.People gain from their ability to trade with one another.Competiti

20、on results in gains from trading.Trade allows people to specialize in what they do best.355. 貿(mào)易能使每個人狀況變好人們可以從與他人相互交易的能力中獲益。競爭可以使人們從貿(mào)易中獲益。貿(mào)易可以讓人們從事他們最專長的工作。366. Markets are usually a good way to organize economic activity.A market economy is an economy that allocates resources through the decentraliz

21、ed decisions of many firms and households as they interact in markets for goods and services.households decide what to buy and who to work for.Firms decide who to hire and what to produce. 376. 市場通常是組織經(jīng)濟活動的一種好方法市場經(jīng)濟當許多企業(yè)和家庭在物品與勞務市場上相互交易時通過他們的分散決策配置資源的經(jīng)濟。家庭決定購買什么和為誰工作。企業(yè)決定雇傭誰和生產(chǎn)什么。386. Markets are us

22、ually a good way to organize economic activity.Adam Smith made the observation that households and firms interacting in markets act as if guided by an “invisible hand.”396. 市場通常是組織經(jīng)濟活動的一種好方法亞當.斯密提出了全部經(jīng)濟學中最有名的觀察結果：家庭和企業(yè)在市場上相互交易，他們仿佛被一只“看不見的手”所指引，導致了合意的市場結果。406. Markets are usually a good way to organ

23、ize economic activity.Because households and firms look at prices when deciding what to buy and sell, they unknowingly take into account the social costs of their actions.As a result, prices guide decision makers to reach outcomes that tend to maximize the welfare of society as a whole.416. 市場通常是組織經(jīng)

24、濟活動的一種好方法由于家庭和企業(yè)在決定購買和出售什么時關注價格，所以他們就不知不覺地考慮到了他們的行為的社會收益與成本。結果是，價格指引這些個別決策者在大多數(shù)情況下實現(xiàn)了整個社會福利最大化的結果。427. Governments can sometimes improve market outcomes政府有時能改善市場結果Market failure occurs when the market fails to allocate resources efficiently.市場失靈市場本身不能有效配置資源的情況。437. Governments can sometimes improve

25、market outcomes.政府有時能改善市場結果When the market fails (breaks down) government can intervene to promote efficiency and equity.當市場失靈時，政府可以對市場進行干預以促進效率和平等。447. Governments can sometimes improve market outcomes政府有時能改善市場結果Market failure may be caused by an externality, which is the impact of one person or fi

26、rms actions on the well-being of a bystander.市場失靈的一個可能原因是外部性。外部性是一個人的行為對旁觀者福利的影響。457. Governments can sometimes improve market outcomes.Market failure may also be caused by market power, which is the ability of a single person or firm to unduly influence market prices. 467.政府有時能改善市場結果市場失靈的另一個可能原因是市場

27、勢力。 市場勢力是指一個人或一個企業(yè)不適當?shù)赜绊懯袌鰞r格的能力。478. The standard of living depends on a countrys production.Standard of living may be measured in different ways:By comparing personal incomes.By comparing the total market value of a nations production.488. 一國的生活水平取決于它生產(chǎn)物品與勞務的能力生活水平 可以用不同的方式衡量:比較人均收入。比較一個國家產(chǎn)出的總的市場價值

28、。498. The standard of living depends on a countrys production.Almost all variations in living standards are explained by differences in countries productivities.508. 一國的生活水平取決于它生產(chǎn)物品與勞務的能力 幾乎所有生活水平的差異都可以歸因于各國生產(chǎn)率的差別。518. The standard of living depends on a countrys production.Productivity is the amoun

29、t of goods and services produced from each hour of a workers time.Higher productivity Higher standard of living528. 一國的生活水平取決于它生產(chǎn)物品與勞務的能力生產(chǎn)率 是指一個工人一小時所生產(chǎn)的物品與勞務量。高生產(chǎn)率 高生活水平539. Prices rise when the government prints too much money.Inflation is an increase in the overall level of prices in the economy

30、.One cause of inflation is the growth in the quantity of money.When the government creates large quantities of money, the value of the money falls.549. 當政府發(fā)行了過多貨幣時，物價上升通貨膨脹 是指經(jīng)濟中物價總水平的上升。通貨膨脹的一個原因是貨幣量的增長。當一個政府創(chuàng)造了大量本國貨幣時，貨幣的價值就下降。5510. Society faces a short-run tradeoff between inflation and unemploy

31、ment.The Phillips Curve illustrates the tradeoff between inflation and unemployment:Inflation UnemploymentIts a short-run tradeoff!5610. 社會面臨通貨膨脹與失業(yè)之間的短期權衡取舍菲利普斯曲線 說明了通貨膨脹與失業(yè)之間的短期權衡取舍 : 通貨膨脹 失業(yè)這是短期權衡取舍。57Figure 1 The Phillips CurveUnemploymentRate (percent)0InflationRate(percentper year)Phillips curve4B67A258Why the Aggregate-Supply Curve Slopes Upward in the Short Run為什么短期中總供給曲線向右上方傾斜The M