作为一个非经管类的学僧 觉得这个课炒鸡好的 学到了很多很多干货 真的是开拓了前所未有的视野！

强推强推 我记了四五十页的笔记哈哈 但是很多是图表很难放上来

Chapter1 Basic Core of Economics

1.1   The goal of the course

Macroeconomics:Global,whole market,e.g. China vs USA

Microeconomics:about an industry,a country policy,income distribution…

The central idea:choice,scarcity,interaction

Production possibilities curve(PPC) as time goes by,PPC increase,because of the technology….

GDP=gross domestic product

1.2   Observing and explaining economics

Positive economics : explaining why or how sth. Occurs,including why certain policies are chosen

Normative economics : Recommedations about future policies

1.3   supply&demand models

if demand rises,P rises Q rises

illusions of three roles of prices:

Prices are signals

Prices provide incentives

Prices affect the income distribution

Elasticity in the model:A measure of sensitivity of the quantity demanded to a change in price

等于需求数量变化比价格变化

If e=0.5,when p rises 10%,Q goes down 5%

E is higher,sensitivity is higher

Chapter2 the competitive equibrium model

Assumption:people make purposeful choices with limited resources

Utilities:a numerical indicator of preference

Marginal benefit

Marginal cost

Profits=total revenue – total costs=p*q

MC=P marginal cost=price

market equilibrium&efficientcy

Pareto efficiency:a situation where it is impossible to make one person better off without hurting another person

When MB=MC,it’s pareto efficiency

How to measure how well the market works

1use producer&consumer surplus

2equilibrium of competitive market

3MB>MC

4no deadweight loss

Invisible hands theory:market Adam Smith

Chapter3 Firms and industries Change

3.1Cost Curves

Fixed cost+variable cost=total cost

Average cost=TC/Q

When ATC rises,MC>ATC

When ATC goes down,MC<ATC

1MC curve cut ATC&AVC at their lowest points

2ATC curve and AVC curve should get closer to each other as quantity increases

3as thestart of MC,dip a little

3.2

Long run:when a firm can adjust all inputs include capital

Short run:not all inputs

The concept of economies and dis economics of scale

3.3

Long run:firms are either entered or exited the industry

Short run:neither entered or exited

The long-run competitive equilibrium Model

Assumption:firms free to entry or exit,depend on profits

Chapter4 deviations from competition

Monopoly&oligopoly

Marginal revenue(MR)

If MR>MC they will produce more

Profitmax when MR=MC

Monopoly and oligopoly lead to deadweight loss

4.2

Price discrimination caused by different people has different e

Price cost margin

4.3

Economic profits are driven to zero

But(1)ATC not min

(2)P>MC

（3）deadweight loss

4.4

Oligopoly

1few firms

2limited entry

3one or different product

4.5

Purpose:reduce deadweight loss

Natural Monopoly

Another problem firm may claim a high cost to regulators

Chapter5 labour markert

5.1

For profit max,MRP=W

For firms in competitive markets,MRP=P*MP

5.2

Issues:discrimination

Wage min cause unemployment more,wage is the same

Chapter6 economic policys

6.1

Tax lead to

1price rises,but less than tax

2Q declines

3Deadweight loss

6.2

保障计划包括安全保险，医保，失业保险

限定保包括低保、医疗保险、食物保险

6.3

基尼系数：收入分配不均的恒量指标

6.4

Public goods:police….

Externalities:when the costs of producing or the benefits of consuming spill over to ther people

6.5

Government works when a case of market failure

Arrow impossibility Theorem:当有三个备选以上的决策时，难以得出结果

Chapter7

7.1

Capital:physical financial human

隐性租金

7.2

Financial capital:Debt and equity

7.3

风险越高 预期盈利率越高

7.4

有效市场假说 公司的消息会由股价反应

组合投资会降低风险

Chapter8

Four macroeconomics variable:

Unemployment rat

Inflation rate

Interest rate

Exchange rate

8.2

Ways to measure GDP

Spending Apporoach

Income approach

Production approach

GDP=labor income+capital income+depreciate+taxes\subsidies\tranfers+net income

8.3

Price index=nominal GDP/Real GDP

Consumer price index

Chapter9

9.1

SAM=spending allocation model

Y=C+I+G+X

A negative relation between interest rate and consumption

Interest rate affects exchange rate

Exchange rate affects net exports

So interest rate affects net exports

9.2

Potential employment

9.3

Y=F(L,K,T)

Malthusian Dynamics

The growth accounting formula

9.4

Money supply=currency+deposits

Three founction of money

1medium of exchange

2store of value

3unit of account

Key principles of economics:

a higher rate of money growth ultimately causes higher inflation

BR=rD

r-reserve ratio

if r=.1, 10% reserve of deposit

chapter10

10.1

If potential GDP>real GDP,unemployment is low

If potential GDP<real GDP, unemployment is high

Fluctuations=departure of potential GDP,due to changes in demand

10.2

Inflation rate—Real interest rate---Real GDP

The ADIA=AD+IA

Chapter11

The debt&deficit

Tax revenues-spend=surplus if positive=deficit,if negative

Debt to gdp ratio=Debt/GDP

Full employment surplus concept

Countercyclical fiscal policy

Permanent income model of consumption

Central band independence

Zero lower bound

Chapter 12

Comparative advantage

Absolute advantage

Tariffs and quotas

Infant industry argument