The economic way of Thinkir ng Yingyi Qian(2002) o Perspective e Reference or benchmark o Analytic Tools
The Economic Way of Thinking Yingyi Qian (2002) • Perspective • Reference or Benchmark • Analytic Tools
The Economic perspective about the individual behavior Self-interest economic agent Scarcity ° Opportunity Cost ● Tradeoff
The Economic Perspective About the Individual Behavior • Self-interest economic agent • Scarcity • Opportunity Cost • Tradeoff
The Economic perspective About Multi-Person Decisionmaking E uilibriui q ° Efficiency ●Win-Win
The Economic Perspective About Multi-Person Decisionmaking • Equilibrium • Efficiency • Win-Win
Reference/benchmark General Equilibrium(arrow-Debreu) Coase Theorem o Modigliani-Miller Theorem o Monetary Neutrality Theorem
Reference/Benchmark • General Equilibrium (Arrow-Debreu) • Coase Theorem • Modigliani-Miller Theorem • Monetary Neutrality Theorem
Economic Analvtic Tools Economic models The economic way of thinking includes developing abstract models from theories and the analysis of the models ° Uses two approaches >Descriptive(reporting facts, etc. Analytical (abstract reasonin
Economic Analytic Tools: Economic Models • The Economic way of thinking includes developing abstract models from theories and the analysis of the models. • Uses two approaches ➢ Descriptive (reporting facts, etc.) ➢ Analytical (abstract reasoning)