AP经济学 Microeconomics I Basic Econ Concepts.pdfVIP

Boshi Du - charlespdu@ Introductory Microeconomics Part I March 16, 2012 1/39 Introductory Microeconomics: Part I - Basic Economic Concepts (8-14%)* Boshi Du charlespdu@ *: percentage goal of multiple-choice section in the AP exam Boshi Du - charlespdu@ Introductory Microeconomics Part I March 16, 2012 2/39 Contents Part I – Basic Economic Concepts (8-14%) Contents Course Description Reading: Mankiw. Principles of Economics I. Basic Economics Concepts Chapter 1 Ten Principles… Chapter 2 Thinking like… Chapter 3 Interdependence… About A: Scarcity, Choice, Opportunity Cost 12 Individual Decisions B: Production Possibilities Curve 2nd Model: PPF F: Margin Analysis 3 E(2): the Role of Incentive 4 C: Comparable advantage, absolute adv, specialization, trade 5 Chapter 3 Interact D: Economic systems 6, 7 E(1): Property rights Macro E: Business cycle, unemployment, inflation, growth 8, 9, 10 Economy Boshi Du - charlespdu@ Introductory Microeconomics Part I March 16, 2012 3/39 Scarcity and choice (principle 1) ? Paul Samuelson (1915-2009, Harvard PhD, MIT Professor): “ Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people.” ? Lionel Robbins (1898-1984, LSE) defined economics in 1932: “Economics is the science which studies human behavior as a relationship between given ends and scarce means which have alternative uses.” ? R ob er t S pe nc er f or T he N ew Y or k T im es Part I – Basic Economic Concepts (8-14%) I-A. Scarcity, choice and opportunity cost Paul Samuelson in his MIT office, 2004 ? N. Gregory Mankiw (1958-, MIT PhD, Harvard Professor): “ Economics is the study of how society manages its scarce resources.” Boshi Du - charlespdu@ Introductory Microeconomics Part I March 16, 2012 4/39 Scarcity and choice (principle 1), opportunity choice (principle 2) ? Scarcity - the limited nature of society’s resources. ? Choi