1、Principles of EconomicsThird EditionbyN.Gregory Mankiw经济学原理（第三版）Brief Description About This CourseWhat do we mean by Western Economics?vWestern economics versus Marxism Economics(political economy)vEconomics(in general)A useful definition Economics is the study of how a society allocates scarce res
2、ources among alternative uses to satisfy human wantsvBasic Principle in this courseWhy do we study economics?vUnderstand the way the world works:An useful perspective to explain various events,including economic policiesvDevelop rational thinking,guiding us to make correct individual decisionvMake c
3、onsistent judgments on economic phenomenavBasic knowledge for our major of business and economicsWhat Is Economics Like?Interesting economics:idea?Boring economics:technique?Useful economics:Alan Greenspan,the chairman of the FedHow to study economics:?Attend class?Read textbook:guided by teaching?D
4、o exercises?Rewrite your class notes?Consult instructorsHow to use this textbook?Guided by class notes?Reorganize the contents in a way friendly to your thinking?Read summary in the end of each chapter?Checking the glossary in the end of this book?Refer to other textbooksReference Textbooks?Paul Sam
5、uelson and William:Economics?J.Stiglitz:EconomicsGood examples?William Baumol and Alan Blinder:Economics:Principles and PolicyCourse Policy?Attending class is strongly recommended,although not required?English is required when writing final exam?Final grade comes mainly from your performance in fina
6、l exam.Session tests or mid term tests are also counted.?You are required to apply economics to explain various economic phenomenaTen Principles of Economics经济学十大原理Chapter 1Economy.经济 .The word economy comes from a Greek word for“one who manages a household.”经济一词来源于希腊语，意思是“管理家庭的人”。A household and an
7、 economy face many decisions:一个家庭和经济体面临很多决策：uWho will work?谁去工作？uWhat goods and how many of them should be produced?应该生产什么物品？应该生产多少？A household and an economy face many decisions:一个家庭和经济体面临很多决策：uWhat resources should be used in production?应该用什么资源生产？uAt what price should the goods be sold?物品的销售价格应该是多
8、少？Society and Scarce Resources:社会和稀缺资源：The management of societys resources is important because resources are scarce.因为资源是稀缺的，所以社会资源的管理就很重要。Scarcity.稀缺.means that society has limited resources and therefore cannot produce all the goods and services people wish to have.意思是说，社会拥有有限的资源，不能生产出人们想要的所有物品与
9、劳务。Economics 经济学Economics is the study of how society manages its scarce resources.经济学研究社会如何管理自己的稀缺资源的学科。Economists study.经济学家研究 uHow people make decisions.人们如何作出决策uHow people interact with each other.人们如何与他人相互交易uThe forces and trends that affect the economy as a whole.影响整体经济的力量和趋势Ten Principles of
10、Economics People 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 Decisions经济学十大原理 人们面临权衡取舍 某东西的成本就是为得到它所放弃的东西 理性人考虑边际量 人们会对激励作出反应人们如何作出决策人们如何作出决策Ten Principles of Economics Trade can make everyone bet
11、ter off.Markets are usually a good way to organize economic activity.Governments can sometimes improve economic outcomes.How People Interact with each other经济学十大原理 贸易可以使每个人状况更好。市场通常是组织经济活动的一种好方法。政府有时能改善市场经济效果。人们如何与他人相互交易人们如何与他人相互交易Ten Principles of Economics The standard of living depends on a count
12、rys 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 works经济学十大原理 一国的生活水平取决于它生产物品与劳务的能力。当政府发行了过多货币时，物价上升。社会面临通货膨胀与失业之间的短期权衡取舍。影响整体经济如何运行的力量和趋势影响整体经济如何运行的
13、力量和趋势1.People face tradeoffs.人们面临权衡取舍“There is no such thing as a free lunch!”天下没有免费的午餐1.People face tradeoffs.To get one thing,we usually have to give up another thing.u Guns v.butteru Food v.clothingu Leisure time v.worku Efficiency v.equityMaking decisions requires trading off one goal against an
14、other.1.人们面临权衡取舍为了得到我们喜爱的一件东西，我们通常不得不放弃另一件喜爱的东西。大炮 vs.黄油 食物 vs.衣服 休闲 vs.工作 效率 vs.平等 作决策时需要在两个目标之间权衡取舍作决策时需要在两个目标之间权衡取舍1.People face tradeoffs.uEfficiency means society gets the most that it can from its scarce resources.uEquity means the benefits of those resources are distributed fairly among the m
15、embers of society.Efficiency v.Equity1.人们面临权衡取舍u效率 社会能从其稀缺资源中得到最多东西的特性。u平等 社会资源的经济成果在社会成员中公平分配的特性。效率与平等效率与平等2.The cost of something is what you give up to get it.Decisions require comparing costs and benefits of alternatives.uWhether to go to college or to work?uWhether to study or go out on a date?
16、uWhether to go to class or sleep in?2.某东西的成本就是为得到它所放弃的东西作出决策时需要比较可供选择的行动方案的成本与收益u上大学还是去工作?u学习还是出去约会?u去上课还是睡觉?2.The cost of something is what you give up to get it某东西的成本就是为得到它所放弃的东西The opportunity cost of an item is what you give up to obtain that item.机会成本机会成本为了得到某种东西所为了得到某种东西所必需放弃的东西。必需放弃的东西。2.The
17、Cost of Something Is 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.当预期在四年之内赚得上千万美元时，高中篮球明星科比.布赖恩特（Kobe Bryant）决定不读大学而直接进入职业篮球联盟（NBA）。2.某东西的成本就是为得到它所放弃的东西3.Rational people thin
18、k at the margin理性人考虑边际量Marginal changes are small,incremental adjustments to an existing plan of action.边际变动对当前行动计划微小的增量调整。People make decisions by comparing costs and benefits at the margin.人们作决策时需要比较边际成本和边际利益。人们作决策时需要比较边际成本和边际利益。4.People respond to incentives.uMarginal changes in costs or benefits
19、 motivate people to respond.uThe decision to choose one alternative over another occurs when that alternatives marginal benefits exceed its marginal costs!4.人们会对激励作出反应u成本或收益的边际改变会激励人们作出反应。u当一个方案的边际收益大于边际成本时，人们选择这个方案，而不去选择别的。5.Trade can make everyone better off.uPeople gain from their ability to trad
20、e with one another.uCompetition results in gains from trading.uTrade allows people to specialize in what they do best.5.贸易能使每个人状况变好 人们可以从与他人相互交易的能力中获益。竞争可以使人们从贸易中获益。贸易可以让人们从事他们最专长的工作。6.Markets are usually a good way to organize economic activity.uA market economy is an economy that allocates resourc
21、es through the decentralized decisions of many firms and households as they interact in markets for goods and services.uhouseholds decide what to buy and who to work for.uFirms decide who to hire and what to produce.6.市场通常是组织经济活动的一种好方法u市场经济当许多企业和家庭在物品与劳务市场上相互交易时通过他们的分散决策配置资源的经济。u家庭决定购买什么和为谁工作。u企业决定雇
22、佣谁和生产什么。6.Markets are usually 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.”6.市场通常是组织经济活动的一种好方法亚当.斯密提出了全部经济学中最有名的观察结果：家庭和企业在市场上相互交易，他们仿佛被一只“看不见的手”所指引，导致了合意的市场结果。6.Markets are usually a
23、good way to organize economic activity.uBecause households and firms look at prices when deciding what to buy and sell,they unknowingly take into account the social costs of their actions.uAs a result,prices guide decision makers to reach outcomes that tend to maximize the welfare of society as a wh
24、ole.6.市场通常是组织经济活动的一种好方法u由于家庭和企业在决定购买和出售什么时关注价格，所以他们就不知不觉地考虑到了他们的行为的社会收益与成本。u结果是，价格指引这些个别决策者在大多数情况下实现了整个社会福利最大化的结果。7.Governments can sometimes improve market outcomes政府有时能改善市场结果Market failure occurs when the market fails to allocate resources efficiently.市场失灵市场本身不能有效配置资源的情况。7.Governments can sometime
25、s improve market outcomes.政府有时能改善市场结果When the market fails(breaks down)government can intervene to promote efficiency and equity.当市场失灵时，政府可以对市场进行干预以促进效率和平等。7.Governments can sometimes improve market outcomes政府有时能改善市场结果Market failure may be caused by an externality,which is the impact of one person o
26、r firms actions on the well-being of a bystander.市场失灵的一个可能原因是外部性。外部性是一个人的行为对旁观者福利的影响。7.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.7.政府有时能改善市场结果市场失灵的另一个可能原因是市场势力。
27、市场势力是指一个人或一个企业不适当地影响市场价格的能力。8.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.8.一国的生活水平取决于它生产物品与劳务的能力生活水平 可以用不同的方式衡量:比较人均收入。比较一个国家产出的总的市场价值。8.The sta
28、ndard of living depends on a countrys production.Almost all variations in living standards are explained by differences in countries productivities.8.一国的生活水平取决于它生产物品与劳务的能力 几乎所有生活水平的差异都可以归因于各国生产率的差别。8.The standard of living depends on a countrys production.Productivity is the amount of goods and serv
29、ices produced from each hour of a workers time.Higher productivity Higher standard of living8.一国的生活水平取决于它生产物品与劳务的能力生产率 是指一个工人一小时所生产的物品与劳务量。高生产率高生产率 高生活水平高生活水平9.Prices rise when the government prints too much money.Inflation is an increase in the overall level of prices in the economy.One cause of in
30、flation is the growth in the quantity of money.When the government creates large quantities of money,the value of the money falls.9.当政府发行了过多货币时，物价上升通货膨胀 是指经济中物价总水平的上升。通货膨胀的一个原因是货币量的增长。当一个政府创造了大量本国货币时，货币的价值就下降。10.Society faces a short-run tradeoff between inflation and unemployment.The Phillips Curve
31、 illustrates the tradeoff between inflation and unemployment:Inflation UnemploymentIts a short-run tradeoff!10.社会面临通货膨胀与失业之间的短期权衡取舍菲利普斯曲线 说明了通货膨胀与失业之间的短期权衡取舍:通货膨胀 失业这是短期权衡取舍。Figure 1 The Phillips CurveUnemploymentRate(percent)0InflationRate(percentper year)Phillips curve4B67A2Why the Aggregate-Suppl
32、y Curve Slopes Upward in the Short Run为什么短期中总供给曲线向右上方倾斜 The Misperceptions Theory 错觉理论 The Sticky-Wage Theory 粘性工资理论 The Sticky-Price Theory 粘性价格理论Summary 内容提要uWhen individuals make decisions,they face tradeoffs among alternative goals.当个人决策时，在不同的目标之间面临权衡取舍。uThe cost of any action is measured in ter
33、ms of foregone opportunities.任何一种行为的成本用所放弃的机会来衡量。Summary 内容提要uRational people make decisions by comparing marginal costs and marginal benefits.理性人通过比较边际成本与边际收益作出决策。uPeople change their behavior in response to the incentives they face.人们对所面临激励的反映就是改变他们的行为。Summary 内容提要uPeople can benefit by trading wi
34、th each other.贸易可以是互利的。uMarkets are usually a good way of coordinating trades.市场通常是协调贸易的一种好方法。uGovernment can potentially improve market outcomes if there is some market failure or if the market outcome is inequitable.如果存在市场失灵或者市场结果不平等时，政府有可能改善市场结果。SummaryuProductivity is the ultimate source of living standards.uMoney growth is the ultimate source of inflation.uSociety faces a short-run tradeoff between inflation and unemployment.内容提要u生产率是生活水平高低的最终根源。u货币增长是通货膨胀的最终根源。u社会面临着通货膨胀与失业之间的短期权衡取舍。
