Control Import Farmers are poor due to low agricultural prices as a result of imports Controlling import will raise the price of food hurting farmers in pasturing areas Reduce demand for china's exports
Control Import Farmers are poor due to low agricultural prices as a result of imports Controlling import will raise the price of food, hurting farmers in pasturing areas Reduce demand for China’s exports
Microeconomics theory can help us to fight poverty by Understand poverty Education, health, migration Evaluate anti-poverty policies On the poor On the non-poor
Microeconomics theory can help us to fight poverty by –Understand poverty Education, health, migration –Evaluate anti-poverty policies On the poor On the non-poor
The Use of microeconomics Positive analysis: Why and how? Explain and predict the behavior of micro agents Explain and predict price behavior Normative analysis Is the equilibrium good? How should we achieve a better equilibrium?
The Use of Microeconomics Positive analysis: Why and how? –Explain and predict the behavior of micro agents –Explain and predict price behavior Normative analysis: – Is the equilibrium good? –How should we achieve a better equilibrium?
The Theory of Economics does not furnish a body of settled conclusions immediately applicable to policy. It is a method rather than a doctrine, an apparatus of the mind, a technique of thinking which helps its possessor to draw correct conclusions John Maynard Keynes
The Theory of Economics does not furnish a body of settled conclusions immediately applicable to policy. It is a method rather than a doctrine, an apparatus of the mind, a technique of thinking which helps its possessor to draw correct conclusions --- John Maynard Keynes
Methodology in Microeconomics Optimization: Cost and benefit analysis Discrete decision Continuous decision Equilibrium: Demand=Supply Must be clear about market environment and institutional constraints
Methodology in Microeconomics Optimization: Cost and benefit analysis –Discrete decision –Continuous decision Equilibrium: Demand=Supply Must be clear about market environment and institutional constraints