TAILIEUCHUNG - Lecture Microeconomics: Theory and applications (12/e): Chapter 1 - Browning, Zupan

Chapter 1 - An introduction to microeconomics. In this chapter students will be able to: Convey the scope of microeconomic theory; explain why theory, is essential to understanding and predicting real-world outcomes; distinguish between positive and normative analyses;. | MICROECONOMICS: Theory & Applications By Edgar K. Browning & Mark A. Zupan John Wiley & Sons, Inc. 12th Edition, Copyright 2015 Chapter 1: An Introduction to Microeconomics Prepared by Dr. Della Lee Sue, Marist College Learning Objectives Convey the scope of microeconomic theory. Explain why theory, is essential to understanding and predicting real-world outcomes. Distinguish between positive and normative analyses. Differentiate between real and nominal prices. Describe the basic assumptions economists make about market participants. Introduce the concept of opportunity cost and explain how economic costs differ from accounting costs. Show how a production possibility frontier graphically depicts the basic assumptions economists make about market actors as well as the concept of opportunity cost. THE SCOPE OF MICROECONOMIC THEORY Convey the scope of microeconomic theory. The Scope of Microeconomic Theory “micro-” derives from the Greek word “mikros-” Microeconomics the .

• Kinh tế học
• Microeconomics theory
• Microeconomics applications
• Lecture Microeconomics
• Kinh tế vĩ mô
• Scope of microeconomic theory
• Normative analyses
• Consumer choice
• Theory of consumer choice
• Consumer choice theory
• Excise subsidies
• Game theory
• Economics of information
• Demand curves
• Supply curves
• Consumption choices
• Substitution effects
• Economic efficiency
• Competitive equilibrium
• Relating output to inputs
• Empirical estimation
• Cost of production
• Shortrun cost
• Profit maximization
• Perfectly competitive markets
• Competitive model
• Excise taxation
• Monopolist’s demand
• Marginal revenue curves
• Product pricing
• Monopoly power