AP-微观经济学讲义-基础.pdfVIP

AP Economics Chapter 2 The Discipline of Economics - By Jacinda Jia 1 Topic List What is economics Micro vs. Macroeconomics Positive vs. normative economics Opportunity cost Production possibilities frontier Comparative advantage 2 Economics defined Economics is a social science that studies how resources are used and is often concerned with how resources can be used to their fullest potential. Consider the case of a student who has only 24 hrs to spend each day. One problem every student faces is just how much time should be allocated to each of the various activities that make for a full life. This is an economic problem, since the student must decide how the resource (time) will be used to its maximum potential. 3 Economics defined The discipline of economics is not directly concerned with money or politics or the stock market, however economic problems abound in each of these areas. 1. People want to spend their money in the best way. 2. Politicians want to make decisions to achieve the maximum benefit. 3. Investors want the highest return from their earnings. Any time someone is trying to make the most out of what he has, we are in the realm of economics. 4 Macroeconomics vs. Microeconomics Microeconomics The study of how households and businesses make choices, how they interact in markets, and how the government attempts to influence their choices. Macroeconomics The study of the economy a