,PowerPoint Lecture Presentation to accompany Principles of Economics, Third Edition N. Gregory Mankiw Prepared by Mark P. Karscig, Central Missouri State University.,李秀娟,microeconomics 微观经济学,My biography,Been teaching here for 8 years Still working on a Phd. Degree of economics Research direction: health economics, pharmaceutical industrial economics（医药产业经济学）,Correspondence(联系方式）,My phone number:15004021631, but if it is not in urgency , please sent me message. My email:lixiujuan_1234126.com My QQ: 798539103, welcome add me as one of your friends. I will not in my office room most time, if you want to discuss questions with me, you are welcome to make an appointment first.,Classroom etiquette(礼节）,You can come in or go out any time you like Noise/Doors-please keep noise to a minimum Talking-if you have a question, ask me Cell phones-make sure they are turned off,Grades(分数）,Presentation: 20% Class participation:10% Final examination ：70%,presentation,Will be held in class one by one in November show your research with the tool of microeconomics，I will give you some examplesYou will be the teacher!,Class participation,We will spend 40 hours together and about 4 hours each time, every hour is very important. If some student miss some of the class hours, that will bring adverse effect to your grades. Dont be shy in class, your active behaviors, like asks and answers, will help you earn more grades .,examination,The final examination cover all the materials of this book to make it easier, I will give you all the answers to the problems of this book. But only 70-80% of the exam questions will come from the book. The other 20-30 rely heavily on your daily life reading and understanding of microeconomics.,My responsibilities,Come to class prepared to teach Respond to , and encourage questions Make up appropriate problem sets and exams. Give you fun in learning economics,My expectations of you,Come to class prepared to learn Actively participate in lecture and discussion sections Complete reading assignments before class Take and do exceedingly well on presentation, class participation, and final examination Have fun learning some microeconomics,materials,Every one need a textbook The PPT are free to copy Answers to all assignments The Beau of National Statistic web site(国家统计局网站) 小木虫网站http:/emuch.net/bbs/ 丁香园网站http:/www.dxy.cn/cms/,other,English will be the mainly Teaching language You are encouraged to speak English as much as you can. The final examination paper is written in English, but you can answer in Chinese. If, after trying, you find it so hard or awful(可怕的） to work in this field, you have a choice to quit（退选） ， but you are still welcome to come and listen.,1 INTRODUCTION,1,Ten Principles of Economics,Economy. . .,. . . The word economy comes from a Greek word for “one who manages a household.”,TEN PRINCIPLES OF ECONOMICS,A household and an economy face many decisions: Who will work? What goods and how many of them should be produced? What resources should be used in production? At what price should the goods be sold?,TEN PRINCIPLES OF ECONOMICS,Society and Scarce Resources: The management of societys resources is important because resources are scarce. Scarcity（稀缺性）. . . means that society has limited resources and therefore cannot produce all the goods and services people wish to have.,TEN PRINCIPLES OF ECONOMICS,Economics is the study of how society manages its scarce resources.,TEN PRINCIPLES OF ECONOMICS,How people make decisions. People face tradeoffs. The cost of something is what you give up to get it. Rational people think at the margin. People respond to incentives.,TEN PRINCIPLES OF ECONOMICS,How people interact with each other. Trade can make everyone better off. Markets are usually a good way to organize economic activity. Governments can sometimes improve economic outcomes.,TEN PRINCIPLES OF ECONOMICS,The forces and trends that affect how the economy as a whole works. The standard of living depends on a countrys production. Prices rise when the government prints too much money. Society faces a short-run tradeoff between inflation and unemployment.,Principle #1: People Face Tradeoffs（取舍）.,“There is no such thing as a free lunch!”,Making decisions requires trading off one goal against another.,Principle #1: People Face Tradeoffs.,To get one thing, we usually have to give up another thing. Guns v. butter Food v. clothing Leisure time v. work Efficiency（效率） v. equity（公平）,Principle #1: People Face Tradeoffs,Efficiency v. Equity Efficiency（效率） means society gets the most that it can from its scarce resources. Equity（公平） means the benefits of those resources are distributed fairly among the members of society.,Principle #2: The Cost of Something Is What You Give Up to Get It.,Decisions require comparing costs and benefits of alternatives. Whether to go to college or to work? Whether to study or go out on a date? Whether to go to class or sleep in? The opportunity cost（机会成本） of an item is what you give up to obtain that item.,