平狄克微观经济学英文版01绪论.pptx

1.1 The Themes of Microeconomics 1.2 What Is a Market? 1.3 Real versus Nominal Prices 1.4 Why Study Microeconomics?;● microeconomics Branch of economics that deals with the behavior of individual economic units—consumers, firms, workers, and investors—as well as the markets that these units comprise.;CONSUMERS Consumers have limited incomes, which can be spent on a wide variety of goods and services, or saved for the future. ;Microeconomics describes how prices are determined. 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.;Theories and Models;● market Collection of buyers and sellers that, through their actual or potential interactions, determine the price of a product or set of products.;Competitive versus Noncompetitive Markets;Market Price;Market Definition—The Extent of a Market;;;● nominal price Absolute price of a good, unadjusted for inflation.;;;;;Corporate Decision Making: The Toyota Prius;Public Policy Design: Fuel Efficiency Standards for the Twenty-First Century