Chapter 1 Preliminaries Chapter outline >The applications of Microeconomics >What is a market? >Real Versus Nominal Prices(实际价格和名义价格) >Why study microeconomics?
Chapter 1 Preliminaries Chapter outline ➢The applications of Microeconomics ➢What is a market? ➢Real Versus Nominal Prices(实际价格和名义价格) ➢Why study microeconomics?
Microeconomics is concerned with the decisions made by small economic units-consumers,workers,investors,owners of resources,and business firms. It is also concerned with the interaction of consumers and firms to form markets and industries
❑ Microeconomics is concerned with the decisions made by small economic units-consumers, workers, investors, owners of resources, and business firms. It is also concerned with the interaction of consumers and firms to form markets and industries
Microeconomics relies heavily on the use of theory, which can(by simplification)help to explain how economic units behave and predict what behavior will occur in the future. Models are mathematical representations of theories that can help in this explanation and prediction process
❑ Microeconomics relies heavily on the use of theory, which can(by simplification)help to explain how economic units behave and predict what behavior will occur in the future. Models are mathematical representations of theories that can help in this explanation and prediction process
Microeconomics is concerned with positive questions that have to do with the explanation and prediction of phenomena. But microeconomics is also important for normative analysis, in which we ask what choices are best-for a firm or for society as a whole. Normative analyses must often be combined with individual value judgments because issues of equity (E)and fairness as well as of economic efficiency may be involved
❑ Microeconomics is concerned with positive questions that have to do with the explanation and prediction of phenomena. But microeconomics is also important for normative analysis, in which we ask what choices are best-for a firm or for society as a whole. Normative analyses must often be combined with individual value judgments because issues of equity (公正)and fairness as well as of economic efficiency may be involved
A market refers to a collection of buyers and sellers who interact,and to the possibility for sales and purchases that results from that interaction. Microeconomics involves the study of both perfectly competitive markets,in which no single buyer or seller has an impact on price,and noncompetitive markets, in which individual entities can affect price
❑A market refers to a collection of buyers and sellers who interact, and to the possibility for sales and purchases that results from that interaction. Microeconomics involves the study of both perfectly competitive markets, in which no single buyer or seller has an impact on price, and noncompetitive markets, in which individual entities can affect price