Содержание
- 2. Thinking Like an Economist Every field of study has its own terminology Mathematics integrals ❖ axioms
- 3. Thinking Like an Economist Economics trains you to. . . . Think in terms of alternatives.
- 4. THE ECONOMIST AS A SCIENTIST The economic way of thinking . . . Involves thinking analytically
- 5. The Scientific Method: Observation, Theory, and More Observation Uses abstract models to help explain how a
- 6. The Role of Assumptions Economists make assumptions in order to make the world easier to understand.
- 7. Economic Models Economists use models to simplify reality in order to improve our understanding of the
- 8. Our First Model: The Circular-Flow Diagram The circular-flow diagram is a visual model of the economy
- 9. Figure 1 The Circular Flow Copyright © 2004 South-Western Spending Revenue Income = Flow of inputs
- 10. Our First Model: The Circular-Flow Diagram Firms Produce and sell goods and services Hire and use
- 11. Our First Model: The Circular-Flow Diagram Markets for Goods and Services Firms sell Households buy Markets
- 12. Our First Model: The Circular-Flow Diagram Factors of Production Inputs used to produce goods and services
- 13. Our Second Model: The Production Possibilities Frontier The production possibilities frontier is a graph that shows
- 14. Figure 2 The Production Possibilities Frontier Copyright©2003 Southwestern/Thomson Learning Quantity of Cars Produced 0 3,000 1,000
- 15. Our Second Model: The Production Possibilities Frontier Concepts Illustrated by the Production Possibilities Frontier Efficiency Tradeoffs
- 16. Figure 3 A Shift in the Production Possibilities Frontier Copyright © 2004 South-Western Quantity of Cars
- 17. Microeconomics and Macroeconomics Microeconomics focuses on the individual parts of the economy. How households and firms
- 18. THE ECONOMIST AS POLICY ADVISOR When economists are trying to explain the world, they are scientists.
- 19. POSITIVE VERSUS NORMATIVE ANALYSIS Positive statements are statements that attempt to describe the world as it
- 20. Positive or Normative Statements? An increase in the minimum wage will cause a decrease in employment
- 21. Positive or Normative Statements? The income gains from a higher minimum wage are worth more than
- 22. Economists in Washington . . . serve as advisers in the policymaking process of the three
- 23. Economists in Washington Some government agencies that collect economic data and make economic policy: Department of
- 24. WHY ECONOMISTS DISAGREE They may disagree about the validity of alternative positive theories about how the
- 25. Table 2 Ten Propositions about Which Most Economists Agree Copyright © 2004 South-Western
- 26. Summary Economists try to address their subjects with a scientist’s objectivity. They make appropriate assumptions and
- 27. Summary Economics is divided into two subfields: Microeconomists study decisionmaking by households and firms in the
- 28. Summary A positive statement is an assertion about how the world is. A normative statement is
- 30. Скачать презентацию