曼昆微观经济学1.pptVIP

Vocabulary List Scarcity Economics Efficiency Equality Opportunity cost Rational people Marginal change Incentive Vocabulary List Incentive Market economy Property rights Market failure Externality Market power Productivity Inflation Vocabulary List Business Cycle Summary When individuals make decisions, they face tradeoffs among alternative goals. The cost of any action is measured in terms of foregone opportunities. Rational people make decisions by comparing marginal costs and marginal benefits. People change their behavior in response to the incentives they face. Summary Trade can be mutually beneficial. Markets are usually a good way of coordinating trade among people. Government can potentially improve market outcomes if there is some market failure or if the market outcome is inequitable. Summary Productivity is the ultimate source of living standards. Money growth is the ultimate source of inflation. Society faces a short-run tradeoff between inflation and unemployment. * * * * * * * * * 9 * 10 * 10 * 11 * 12 * 15 * 16 * 16 * 17 * 18 * 21 * 21 * 21 * 23 * 24 * * * Copyright ? 2004 South-Western/Thomson Learning Copyright ? 2004 South-Western/Thomson Learning PowerPoint? Lecture Presentation to accompany Principles of Economics, Third Edition N. Gregory Mankiw Prepared by Mark P. Karscig, Central Missouri State University. 1 INTRODUCTION 1 Ten Principles of Economics Vocabulary List Scarcity Economics Efficiency Equality Opportunity cost Rational people Marginal change Incentive Vocabulary List Incentive Market economy Property rights Market failure Externality Market power Productivity Inflation Vocabulary List Business Cycle Economy. . . . . . The word economy comes from a Greek word for “one who manages a household.” TEN PRINCIPLES OF ECONOMICS A household and an economy face many decisions: Who will work? What goods and how many of them should be produced? What resources should be used in production? At what price should the goods be so