Ch 2微观经济学.pptVIP

Economic Systems Three questions What? How? For whom? Economic system Mechanisms构造机制 Institutions制度 Answer the three questions * Economic Systems Criteria标准 Ownership of resources资源所有权 Allocation of resources Incentives Range from Pure capitalism, to纯资本 Pure command system控制体系 * Pure Capitalism Private property rights私有财产 Unrestricted markets Answer the three questions Resources – most productive use Goods and services – most valued Voluntary自愿的 buying and selling Adam Smith: “invisible hand”无形的 * Pure Capitalism: Flaws缺点 No central authority没有中心权力 People with no resources could starve Monopoly垄断 Side effects副作用 for people not involved No public goods * Pure Command System Public/communal ownership of property Government planners Central plans Direct resources Coordinate production协调 Answer the three questions Communism 共产主义 * Pure Command System: Flaws Resources Used inefficiently Wasted (no incentives) Preferences of planners Limited variety of products Less freedom of economic choice * Mixed and Transitional Economies Increasing role of government In capitalist economies资本主义经济 Increasing role of markets In command economies Mixed economies Government Economic activity Regulates the private sector管理私营部门 Economies based on Custom or Religion * Tutorial Classes Wednesdays Time Place 3-4 pm BT 124 4-5 pm BT 125 Thursdays Time Place 10-11 am BT 139 11-12 noon BT 139 12-1 pm BT 138 * Chapter 2 Economic Tools and Economic Systems * Choice and Opportunity Cost Scarcity Make a choice Pass up another opportunity Opportunity cost The value of the best alternative forgone Opportunity lost Monetary aspect 货币金融方面 Non-monetary aspect * The Opportunity Cost of College Value of best alternative forgone Forgone income (full-time job; $20,000) Minus income earned as student (part-time work; $10,000) Plus direct cost of college Tuition, fees, books ($6,000) $20,000 - $10,000 + $6,000 = $16,000 Not included: room, board, personal expenses * Opportunity Cost Opportu