AP-微观经济学讲义-基础.pdf

AP-微观经济学讲义-基础.pdf

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1APEconomicsChapter2TheDisciplineofEconomics-ByJacindaJia2TopicListWhatiseconomicsMicrovs.MacroeconomicsPositivevs.normativeeconomicsOpportunitycostProductionpossibilitiesfrontierComparativeadvantage3EconomicsdefinedEconomicsisasocialsciencethatstudieshowresourcesareusedandisoftenconcernedwithhowresourcescanbeusedtotheirfullestpotential.Considerthecaseofastudentwhohasonly24hrstospendeachday.Oneproblemeverystudentfacesisjusthowmuchtimeshouldbeallocatedtoeachofthevariousactivitiesthatmakeforafulllife.Thisisaneconomicproblem,sincethestudentmustdecidehowtheresource（time）willbeusedtoitsmaximumpotential.4EconomicsdefinedThedisciplineofeconomicsisnotdirectlyconcernedwithmoneyorpoliticsorthestockmarket,howevereconomicproblemsaboundineachoftheseareas.1.Peoplewanttospendtheirmoneyinthebestway.2.Politicianswanttomakedecisionstoachievethemaximumbenefit.3.Investorswantthehighestreturnfromtheirearnings.Anytimesomeoneistryingtomakethemostoutofwhathehas,weareintherealmofeconomics.5Macroeconomicsvs.MicroeconomicsMicroeconomicsThestudyofhowhouseholdsandbusinessesmakechoices,howtheyinteractinmarkets,andhowthegovernmentattemptstoinfluencetheirchoices.MacroeconomicsThestudyoftheeconomyasawhole,includingtopicssuchasinflation,unemployment,andeconomicgrowth.6Macroeconomicsvs.Microeconomics?

I:

Theeffectofhighercigarettetaxesonthequantityofcigarettessold.A:

Theeffectofhigherincometaxesonthetotalamountofconsumerspending.A:

ThereasonsfortheeconomicsofEastAsiancountriesgrowingfasterthantheeconomiesofsub-SaharanAfricancountries.I:

Thereasonsforlowratesofprofitintheairlineindustry.7NormativeandPositiveEconomicsThedisciplineofeconomicscanbesplitinanotherway-positiveandnormativeeconomics.Positiveeconomicsisbasedonthescientificmethod,andisconcernedwithwhatis.Normativeeconomicsinvolvesvaluejudgments,andisconcernedwithwhatoughttobe.8NormativeandPositiveEconomicsItmayappearasifpositiveeconomicsisasuperiorformofthedisciplinesinceitisgroundedinthescientificmethodandnormativeeconomicsisbasedonopinions.However,normativeeconomicsisacrucialpartoftheeconomicsdiscipline.Anyscientificstudywillrequireanexperiment,andexperimentscanbedesignedtohighlightascientistsprejudices.Evenifaneconomistcankeephisbiasesoutofastudy,whydidhechoosethisparticularquestiontoinvestigate?

Howevermucheconomistsstrivetobelikebiologistsandphysicists,therewillalwaysbealargenormativeaspect.9NormativeandPositiveEconomics/Analysis?

A50-cent-per-packtaxoncigaretteswillreducesmokingbyteenagersby12%.ThefederalgovernmentshouldspendmoreonAIDsresearch.Risingpaperpriceswillincreasetextbookprices.ThepriceofcoffeeatStarbucksistoohigh.10ResourcesAresourceisanythingthatcanbeusedtoproduceagoodorservice.InMacroeconomicseveryresourceisclassifiedintooneofthreecategories:

1.Land2.Labor3.Capital11OpportunityCostOpportunityCostThehighest-valuedalternativethatmustbegivenupinordertoengageinanactivity.Itiswhatmustbesacrificedtoobtainsomething.P14table2.112ProductionPossibilitiesFrontierProductionpossibilitiesfrontierAcurveshowingalltheattainablecombinationsoftwoproductsthatmaybeproducedwithavailableresources.13ProductionPossibilitiesFrontierGraphingtheProductionPossibilitiesFrontier2-1BMWsProductionPossibilitiesFrontier14DrawingaProductionPossibilitiesFrontierforRosiesBostonBakery2-1LEARNINGOBJECTIVE1HoursSpentMakingQuantityMadeChoiceCakesPiesCakesPiesA5050B4142C3234D2326E1418F0501015ProductionPossibilitiesFrontierTwofactorscausethePPFtoSHIFT:

1.Changesintheamountofresourcesintheeconomy2.Changesintechnologyandproductivity16ProductionPossibilitiesFrontiersShiftEconomicGrowthTheabilityoftheeconomytoproduceincreasingquantitiesofgoodsandservices.2-3EconomicGrowth17LawofincreasingcostsThePPFisnottypicallyastraightline.Opportunitycostwillnotbeconstantintherealworld.Thelawofincreasingcostsstatesthatasmoreofaproductisproduced,theopportunitycostincreases.RefertoTable2.2-p1718LawofincreasingcostsThePPFisnottypicallyastraightline.Opportunitycostwillnotbeconstantintherealworld.RefertoNextSlide!

19ProductionPossibilitiesFrontiersIncreasingMarginalOpportunityCosts2-2Astheeconomymovesdowntheproductionpossibilitiesfrontier,itexperiencesincreasingmarginalopportunitycostsbecauseincreasingautomobileproductionbyagivenquantityrequireslargerandlargerdecreasesinaircraftcarrierproduction.Morefundsfortsunamireliefmeantlessfundsforothercharities.Trade-offsandTsunamiRelief2-120LawofincreasingcostsThelawofincreasingcostsstatesthatasmoreofaproductisproduced,theopportunitycostincreases.RefertoTable2.2-p1721LawofincreasingcostsThemoreofaproductthatisinitiallybeingproduced,thehighertheopportunitycostwillbetoproducemore.Concave-to-the-originPPFisduetothelawofincreasingcostsRefertofig2.3-p1822LawofIncreasingCosts-CausesWhengunproductionislow,theopportunitycostofincreasinggunproductionislow.Whengunproductionisincreased,theresourcesthatareadeptatmakinggunscanbeshiftedoffthefarmandintogunproduction-notmuchbutterwillbelost,butmanymoregunsareproduced.Theopportunitycostofgunsislowwhenalowlevelofgunsisbeingproduced.23LawofIncreasingCosts-CausesHowever:

Imaginethesituationinaneconomythatisalreadyproducingalotofguns.Whentheresourcesareshiftedfrombuttertogunproduction,notmanymoregunsareproduced,butalotofbuttermustbesacrificed.24LawofIncreasingCosts-CausesSummaryItisduetothefactthatsomeresourcesaremoreadeptattheproductionofonegoodthananother.Whenresourcesareforcedtoworkinanindustrywheretheyarenotproficient,theyarelessproductive.Thus,theopportunitycostofproducingagoodbecomesgreaterasmoreresourcesareforcedintotheindustrieswheretheyarenotasproductive.ThiscausesthePPFtobeconcavetotheorigin.25LawofIncreasingCosts-CausesTheideaofincreasingmarginalopportunitycostsillustratesanimportanteconomicconcept:

themoreresourcesalreadydevotedtoanyactivity,thesmallerthepayofftodevotingadditionalresourcestothatactivity.26Illustration1:

Themorehoursyouhavealreadyspentstudyingeconomics,thesmallertheincreaseinyourtestgradefromeachadditionalhouryouspendandthegreatertheopportunitycostofusingthehourinthatway.27Illustration2:

ThemorefundsafirmhasdevotedtoR&Dduringagivenyear,thesmallertheamountofusefulknowledgeitreceivesfromeachadditionaldollar-andthegreatertheopportunitycostofusingthefundsinthatway.28ExerciseP26Free-ResponseQuestions29ComparativeAdvantageComparativeadvantageTheabilityofanindividual,business,orcountrytoproduceagoodorserviceatthelowestopportunitycost.OpportunityCostThehighest-valuedalternativethatmustbegivenuptoengageinanactivity.Eg:

Table2.4-p2030AbsoluteadvantageTheabilitytoproducemoreofagoodorservicethancompetitorswhenusingthesameamountofresources.Eg:

Table2.3-p19Portugalhastheabsoluteadvantageinproducingbothproducts31ComparativeAdvantageinInternationalTrade32ComparativeAdvantageinInternationalTrade1.Thebasisfortradeiscomparativeadvantage,notabsoluteadvantage.2.Acountryhasacomparativeadvantageintheproductionofthegoodforwhichithasaloweropportunitycost.3.Toenjoythegainsfromtrade,acountryshouldspecializeintheproductionofthegoodforwhichithasacomparativeadvantage.33ComparativeAdvantageinInternationalTradeAnExampleofJapaneseWorkersBeingMoreProductivethanAmericanWorkers81OUTPUTPERHOUROFWORKCELLPHONESMP3PLAYERSJapanUnitedStates12264OPPORTUNITYCOSTSCELLPHONESMP3PLAYERSJapanUnitedStates0.5MP32MP32cellphones0.5cellphoneTheOpportunityCostsofProducingCellPhonesandMP3Players8234AutarkyAsituationinwhichacountrydoesnottradewithothercountries.35TheGainsfromTradeIncreasingConsumptionthroughTradeTermsofTradeTheratioatwhichacountrycantradeitsexportsforimportsfromothercountries.ProductionwithoutTrade83WITHOUTTRADEPRODUCTIONANDCONSUMPTIONCELLPHONESMP3PLAYERSJapanUnitedStates9,0001,5001,5001,00036IncreasingConsumptionthroughTradeTheGainsfromTradeforJapanandtheUnitedStatesWITHOUTTRADEProductionandConsumptionCELLPHONESMP3PLAYERSCELLPHONESJapan9,0001,500UnitedStates1,5001,000WITHTRADEProductionwithTradeTradeConsumptionwithTradeCELLPHONESMP3PLAYERSMP3PLAYERSCELLPHONESMP3PLAYERSJapan12,0000Export1,500Import1,50010,5001,500UnitedStates04,000Import1,500Export1,5001,5002,500GAINSFROMTRADEIncreasedConsumptionJapan1,500CellPhonesUnitedStates1,500MP3PlayersTheincreasedconsumptionmadepossiblebytraderepresentsthegainsfromtrade.andexportsomeofthatgoodinexchangeforthegoodtheothercountryhasacomparativeadvantageinproducing.Withtrade,theUnitedStatesandJapanspecializeinthegoodtheyhaveacomparativeadvantageinproducing.37TheGainsfromTradeWhyDontWeSeeCompleteSpecialization?

Notallgoodsandservicesaretradedinternationally.?

Productionofmostgoodsinvolvesincreasingopportunitycosts.?

Tastesforproductsdiffer.RememberthatTradeCreatesBothWinnersandLosers38WhereDoesComparativeAdvantageComeFrom?

Amongthemainsourcesofcomparativeadvantagearethefollowing:

?

Climateandnaturalresources?

Relativeabundanceoflaborandcapital?

Technology?

Ex