TAILIEUCHUNG - Lecture Introduction to economics: Social issues and economic thinking: Chapter 1 - Wendy A. Stock

Chapter 1 - An introduction to the economic way of thinking. After completing this unit, you should be able to: Define economics, explain how scarce resources influence choices, describe the influence of benefits and costs on deciding among alternatives, identify the decision rules individuals and firms use to make choices, | Introduction to Economics: Social Issues and Economic Thinking Wendy A. Stock PowerPoint Prepared by Z. Pan Chapter 1 An Introduction to the Economic Way of Thinking Copyright © 2013 John Wiley & Sons, Inc. / Photo Credit: © Shuan Lowe/iStockphoto 1 Define economics Explain how scarce resources influence choices Describe the influence of benefits and costs on deciding among alternatives Identify the decision rules individuals and firms use to make choices Explain why decisions are made “at the margin” Assess the general conditions that generate maximum utility or profits Copyright © 2013 John Wiley & Sons, Inc. 2 After studying this chapter, you should be able to: 2 Economics is the study of choices. Economics is a tool or way of looking at the world Economics help us to understand all kinds of choices Copyright © 2013 John Wiley & Sons, Inc. 3 Definition of economics 3 Macroeconomics deals with choices that societies make. Microeconomics deals with the choices individuals, households, and businesses make. Copyright © 2013 John Wiley & Sons, Inc. 4 Microeconomics and Macroeconomics 4 Improve decision-making skills Improve critical thinking skills Develop analytical and quantitative skills Understand many current issues Approach controversial issues with objectivity and clarity Prepare for graduate school in many fields Better job opportunities Copyright © 2013 John Wiley & Sons, Inc. 5 Why Study Economics? 5 Scarcity occurs when we have fewer resources than we have uses for those resources. Scarcity implies choices Copyright © 2013 John Wiley & Sons, Inc. 6 Scarcity 6 Labor – laborers combine time and energy to produce goods or services Land – including natural resources, water, and clean air Capital - long-lasting tools or skills used in producing goods and services Copyright © 2013 John Wiley & Sons, Inc. 7 Three basic economic resources 7 Decision makers make choices by comparing benefits and costs. Benefit of a choice is what you gain when you make the choice.

• Kinh tế học
• Economics social issues
• Economic thinking
• Opportunity cost
• Economic way of thinking
• Marginal benefits
• Marginal costs
• Social issues
• Economics of social issues
• Lecture Economics of social issues
• Economics of crime
• Classification of criminal acts
• The costs of crime
• Economics of education
• Increased demand for education
• Educational expenditures
• Monopoly power
• Economics of monopoly power
• Professional sports
• Economics of professional sports
• Professional sports business
• Economic systems
• Resource allocation
• Social well being
• Alleviating human misery
• Economic reasoning
• Production possibilities
• Government control of prices
• Mixed systems
• Price ceilings
• Pollution problems
• Common forms of pollution
• Air pollution
• Food budget multiplier
• Income distribution
• Welfare reform
• Global marketplace
• Competition in the global marketplace
• International trade
• Economic growth
• Leading economic indicators index
• Theories of business cycles
• Financial system
• Investment banks
• Insurance companies
• Unemployment in market economy
• Price index
• Equity effects
• Government spending
• National debt
• Economic analysis
• Issues in economics today
• Lecture Issues in economics today
• Macroeconomic issues
• International issues
• Price control issues
• Social security
• Measuring economic activity
• Economics social
• The circular flow model
• Foreign sector
• Models in economics
• Production possibilities model
• Production possibilities frontier
• Introduction to economics
• Consumer surplus
• Producer surplus
• Economic efficiency
• Illegal drugs
• Economics of illegal drugs
• Market for drugs
• Market failure
• Costs of education
• Marginal costs of education
• Private marginal costs
• Economics of health care
• Quality of health care
• Health care expenditures
• Expanding insurance coverage