曼昆《经济学原理》题目及课后答案答案ch02docx.docx
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曼昆《经济学原理》题目及课后答案答案ch02docx.docx
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曼昆《经济学原理》题目及课后答案答案ch02docx
ikeanEconomist
THINKINGLIKEANECONOMIST
WHAT'SNEW:
Therearenosignificantchangestothischapter.
LEARNINGOBJECTIVES:
Bytheendofthischapter,studentsshouldunderstand:
howeconomistsapplythemethodsofscience.
howassumptionsandmodelscanshedlightontheworld.
twosimplemodels—thecircularflowandtheproductionpossibilitiesfrontier.
thedifferencebetweenmicroeconomicsandmacroeconomics.
thedifferencebetweenpositiveandnormativestatements.
theroleofeconomistsinmakingpolicy.
whyeconomistssometimesdisagreewithoneanother.
CONTEXTANDPURPOSE:
Chapter2isthesecondchapterinathreechaptersectionthatservesastheintroductionofthetext.Chapter1introducedtenprinciplesofeconomicsthatwillberevisitedthroughoutthetext.Chapter2developshoweconomistsapproachproblemswhileChapter3willexplainhowindividualsandcountriesgainfromtrade.
ThepurposeofChapter2istofamiliarizestudentswithhoweconomistsapproacheconomicproblems.Withpractice,theywilllearnhowtoapproachsimilarproblemsinthisdispassionatesystematicway.Theywillseehoweconomistsemploythescientificmethod,theroleofassumptionsinmodelbuilding,andtheapplicationoftwospecificeconomicmodels.Studentswillalsolearntheimportantdistinctionbetweentworoleseconomistscanplay:
asscientistswhenwetrytoexplaintheeconomicworldandaspolicymakerswhenwetrytoimproveit.
KEYPOINTS:
1.Economiststrytoaddresstheirsubjectwithascientist'sobjectivity.Likeallscientists,theymakeappropriateassumptionsandbuildsimplifiedmodelsinordertounderstandtheworldaroundthem.Twosimpleeconomicmodelsarethecircular-flowdiagramandtheproductionpossibilitiesfrontier.
2.Thefieldofeconomicsisdividedintotwosubfields:
microeconomicsandmacroeconomics.Microeconomistsstudydecisionmakingbyhouseholdsandfirmsandtheinteractionamonghouseholdsandfirmsinthemarketplace.Macroeconomistsstudytheforcesandtrendsthataffecttheeconomyasawhole.
3.Apositivestatementisanassertionabouthowtheworldis.Anormativestatementisanassertionabouthowtheworldoughttobe.Wheneconomistsmakenormativestatements,theyareactingmoreaspolicyadvisersthanscientists.
4.Economistswhoadvisepolicymakersofferconflictingadviceeitherbecauseofdifferencesinscientificjudgmentsorbecauseofdifferencesinvalues.Atothertimes,economistsareunitedintheadvicetheyoffer,butpolicymakersmaychoosetoignoreit.
CHAPTEROUTLINE:
I.TheEconomistasScientist
A.Economistsfollowthescientificmethod.
1.Observationshelpustodeveloptheory.
2.Datacanbecollectedandanalyzedtoevaluatetheories.
3.Usingdatatoevaluatetheoriesismoredifficultineconomicsthaninphysicalsciencebecauseeconomistsareunabletogeneratetheirowndataandmustmakedowithwhateverdataareavailable.
4.Thus,economistspaycloseattentiontothenaturalexperimentsofferedbyhistory.
B.Assumptionsmaketheworldeasiertounderstand.
1.Example:
tounderstandinternationaltrade,itmaybehelpfultostartoutassumingthatthereareonlytwocountriesintheworldproducingonlytwogoods.Onceweunderstandhowtradewouldworkbetweenthesetwocountries,wecanextendouranalysistoagreaternumberofcountriesandgoods.
2.Oneimportantroleofascientististounderstandwhichassumptionsoneshouldmake.
3.Economistsoftenuseassumptionsthataresomewhatunrealisticbutwillhavesmalleffectsontheactualoutcomeoftheanswer.
C.
Economistsuseeconomicmodelstoexplaintheworldaroundus.
Toillustratetotheclasshowsimplebutunrealisticmodelscanbeuseful,bringaroadmaptoclass.Pointouthowunrealisticitis.Forexample,itdoesnotshowwhereallofthestopsigns,gasstations,orrestaurantsarelocated.Itassumesthattheearthisflatandtwo-dimensional.But,despitethesesimplifications,amapusuallyhelpstravelersgetfromoneplacetoanother.Thus,itisagoodmodel.
1.Mosteconomicmodelsarecomposedofdiagramsandequations.
2.Thegoalofamodelistosimplifyrealityinordertoincreaseourunderstanding.Thisiswheretheuseofassumptionsishelpful.
Activity1—RealismandModels:
AnAnalogy
Type:
In-classdemonstration
Topics:
Models
Materialsneeded:
Airplanekit,sheetofpaper,whirl-a-gigwingtoy(Note:
thewhirl-a-gigwingtoyisahelicopterwingonastick;itisoftensoldinmuseumgiftshopsaswellastoystores.)
Time:
5minutes
Classlimitations:
Worksinanyclasssize
Asktheclassifarealisticmodelisbetterthananunrealisticmodel.
Showthemtheairplanemodelkit.Describesomeofthedetailsincludedinmodel(rivets,canopy,struts,etc.).Shaketheboxtorattlethelargenumberofparts.Thisisafairlyrealisticmodel,althoughobviouslynotarealairplane.Itscomplexityaddsrealism,butatacost;assemblingthemodelisverytimeconsuming.Droptheboxonthefloor.Telltheclass,“Thismodel,evenwhencompleted,cannotfly.”
Takeasheetofpaperandfolditintoapaperairplane.Showtheclassthisnewmodel.Itsvirtuesincludesimplicityandeaseofassembly,butitislessrealisticthantheairplanemodelkit.Throwtheairplaneandexplain,“Whilelessdetailed,thismodelcanglidethroughtheair.”
Showthestudentsthewhirl-a-gigwingtoy.Thismodellooksnothinglikeanairplane一justaT-shapedpieceofwood.Yet,thismodeldoessomethingthattheothertwomodelscannotdo:
itactuallygenerateslift.Thistoydemonstratesthesameaerodynamicprinciplesasarealairplanewing.Twirlthestickbetweenyourpalmsandthewhirl-a-gigwingtoywillflyoveryourhead.
Economicmodelsarelikethewhirl-a-gigwingtoy.Theyaremuchlesscomplexthantherealworld,buttheycanshowhowmarketsactuallywork.
D.OurFirstModel:
TheCircularFlowDiagram
Figure1
MARKETS
Revenue
Goodsandservicessold
FOR
GOODSANDSERVICES・Firmssell-Householdsbuy
Spending
Goodsandservicesbought
FIRMS
ProduceandsellgoodsandservicesHireandusefactorsofproduction
)f
HOUSEHOLDS
BuyandconsumegoodsandservicesOwnandsellfactorsofproduction
Wages,rent,andprofit
MARKETS
FOR
FACTORSOFPRODUCTION
・Householdssell
•Firmsbuy
Labor,land,a顼capital
Income
—=Flowofinputsandoutputs
—=Flowofdollars
1.Definitionofcircular-flowdiaqram:
avisualmodeloftheeconomythatshowshowdollarsflowthroughmarketsamonghouseholdsandfirms.
2.Thisdiagramisaverysimplemodeloftheeconomy.Notethatitignorestherolesofgovernmentandinternationaltrade.
a.Therearetwodecisionmakersinthemodel:
householdsandfirms.
b.Therearetwomarkets:
goodsmarketandfactormarket.
c.Firmsaresellersinthegoodsmarketandbuyersinthefactormarket.
d.Householdsarebuyersinthegoodsmarketandsellersinthefactormarket.
e.Theinnerlooprepresentstheflowsofinputsandoutputsbetweenhouseholdsandfirms.
f.Theouterlooprepresentstheflowsofdollarsbetweenhouseholdsandfirms.
E.OurSecondModel:
TheProductionPossibilitiesFrontier
1.Definitionoforoductionpossibilitiesfrontier:
agraphthatshowsthecombinationsofoutputthattheeconomycanpossiblyproducegiventheavailablefactorsofproductionandtheavailableproductiontechnology.
Spendmoretimewiththismodelthanyouthinkisnecessary.Beawarethatthemathskillsofmostofyourstudentswillbelimited.Itisimportantforthestudentstofeelconfidentwiththisfirstgraphicalandmathematicalmodel.Bedeliberatewitheverypoint.Ifyoulosethemwiththismodel,theymaybegonefortherestofthecourse.
2.Example:
acountrythatproducestwogoods,carsandcomputers.
Figure2
a.Ifallresourcesaredevotedtoproducingcars,theeconomycanproduce1,000carsandzerocomputers.
b.Ifallresourcesaredevotedtoproducingcomputers,theeconomycanproduce3,000computersandzerocars.
c.Ifresourcesaredividedbetweenthetwoindustries,thefeasiblecombinationsofoutputareshownonthecurve.
Youmaywanttoincludetimedimensionsforvariablestomakeitclearthattheproductiondataaremeasuredintermsofannualflows.Thiswillhelpstudentstorealizethatanewproductionpossibilitiesfrontieroccursforeachyear.Thus,theaxesshowthelevelofoutputperyear.
Itisusefultopointoutthattheproductionpossibilitiescurvedependsontwothings:
theavailabilityofresourcesandtheleveloftechnology.
ALTERNATIVECLASSROOMEXAMPLE:
Asmallcountryproducestwogoods:
corn(measuredinbushels)andtrucks.Pointsonaproductionpossibilitiesfrontiercanbeshowninatableoragraph:
A
B
C
D
E
Trucks
0
10
20
30
40
Corn
70
60
45
25
0
Theproductionpossibilitiesfrontiershouldbedrawnfromthenumbersabove.
Studentsshouldbeaskedtocalculatetheopportunitycostofincreasingthenumberoftrucksproducedbyten:
•between0and10
•between10and20
•between20and30
•between30and40
3.Productionisefficientatpointsonthecurve.Thisimpliesthattheeconomyisgettingallitcanfromthescarceresourcesithasavailable.
4.Productionatapointinsidethecurveisinefficient.
5.Productionatapointoutsideofthecurveisnotpossiblegiventheeconomy'scurrentlevelofresourcesandtechnology.
6.TheproductionpossibilitiesfrontierrevealsPrinciple#1:
Peoplefacetradeoffs.
a.Supposetheeconomyiscurrentlyproducing600carsand2,200computers.Toincreasetheproductionofcarsto700,theproductionofcomputersmustfallto2,000.
7.Principle#2isalsoshownontheproductionpossibilitiesfrontier:
Thecostofsomethingiswhatyougiveuptogetit(
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