TAILIEUCHUNG - Lecture Macroeconomics (9/e): Chapter 3 - David C. Colander

Chapter 3: Economic institutions. In this chapter you will learn: Define market economy and compare and contrast socialism with capitalism, describe the role of businesses and households in a market economy, list and discuss the various roles of government, explain why global policy issues differ from national policy issues. | Nobody can be a great economist who is only an economist – and I am even tempted to add that the economist who is only an economist is likely to become a nuisance if not a positive danger. ―Friedrich Hayek Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 1 Chapter Goals Define market economy and compare and contrast socialism with capitalism List and discuss the various roles of government. Describe the role of businesses and households in a market economy Explain why global policy issues differ from national policy issues. 2 Economic Systems The . economy is a market economy, which is an economic system based on private property and the markets in which, in principle, individuals decide how, what, and for whom to produce Markets work through a system of rewards and payments Individuals are free to do whatever they want as long as it is legal Fluctuations in prices play a central role in coordinating individuals’ wants in a market economy .

• Kinh tế học
• Lecture Macroeconomics
• Kinh tế vĩ mô
• Macroeconomic problems
• International macroeconomic policy issues
• Market economy
• Economic systems
• Bài giảng Kinh tế vĩ mô
• Science of macroeconomics
• Data of macroeconomics
• Unemployment rate
• Inflation rate
• Principles of microeconomics
• Economic models
• Tools of microeconomics
• Microeconomic transactions
• Natural rate of unemployment
• Consumer price index
• National income
• Agriculture sector
• Agricultural policies
• Economic fluctuations
• Macroeconomic policy
• Business cycle theory