Введение в экономику
Лучший по критерию «Полезность курса для Вашей будущей карьеры»
Лучший по критерию «Полезность курса для расширения кругозора и разностороннего развития»
Лучший по критерию «Новизна полученных знаний»
Статус: Курс обязательный (Программа двух дипломов НИУ ВШЭ и Университета Кёнхи «Экономика и политика в Азии»)
Направление: 41.03.01. Зарубежное регионоведение
Кто читает: Департамент зарубежного регионоведения
Где читается: Факультет мировой экономики и мировой политики
Когда читается: 1-й курс, 1-4 модуль
Формат изучения: Blended
It is an introductory course in microeconomics and macroeconomics, which introduces the basic concepts of economics. Microeconomics (Introduction to Economics I) discusses applications-the study of how individuals make a decision and interact in markets, under conditions of perfect and imperfect competition. The study of macroeconomics (Introduction to Economics II) involves economy-wide issues such as inflation, unemployment, economic growth and policies.
- To introduce the key principles of economics
- To examine the theories of microeconomics and macroeconomics, and how they are applied in the real world
- To develop critical thinking and problem-solving skills of students
- To create a strong understanding of economics that will serve as a foundation for further studies of the students
- students should describe the following: that economics is about the allocation of scarce resources; that individuals face trade-offs; the meaning of opportunity cost; how to use marginal reasoning when making decisions; how incentives affect people’s behavior; why trade among people or nations can be good for everyone; why markets are a good, but not perfect, way to allocate resources; what determines some trends in the overall economy;
- students should describe the following: how economists apply the methods of science; how assumptions and models can shed light on the world; two simple models—the circular flow and the production possibilities frontier; the difference between microeconomics and macroeconomics; the difference between positive and normative statements; the role of economists in making policy; why economists sometimes disagree with one another.
- students should describe the following: how everyone can benefit when people trade with one another; the meaning of absolute advantage and comparative advantage; how comparative advantage explains the gains from trade; how to apply the theory of comparative advantage to everyday life and national policy.
- students should describe the following: what a competitive market is; what determines the demand for a good in a competitive market; what determines the supply of a good in a competitive market; how supply and demand together set the price of a good and the quantity sold; the key role of prices in allocating scarce resources in market economies.
- students should describe the following: the meaning of the elasticity of demand; what determines the elasticity of demand; the meaning of the elasticity of supply; what determines the elasticity of supply; the concept of elasticity in three very different markets (the market for wheat, the market for oil, and the market for illegal drugs).
- students should describe the following: the effects of government policies that place a ceiling on prices; the effects of government policies that put a floor under prices; how a tax on a good affects the price of the good and the quantity sold; that taxes levied on sellers and taxes levied on buyers are equivalent; how the burden of a tax is split between buyers and sellers.
- students should describe the following: the link between buyers’ willingness to pay for a good and the demand curve; how to define and measure consumer surplus; the link between sellers’ costs of producing a good and the supply curve; how to define and measure producer surplus; that the equilibrium of supply and demand maximizes total surplus in a market.
- students should describe the following: how a budget constraint represents the choices a consumer can afford; how indifference curves can be used to represent a consumer’s preferences; how a consumer’s optimal choices are determined; how a consumer responds to changes in income and changes in prices; how to decompose the impact of a price change into an income effect and a substitution effect; how to apply the theory of consumer choice to three questions about household behavior.
- students should describe the following: what items are included in a firm’s costs of production; the link between a firm’s production process and its total costs; the meaning of average total cost and marginal cost and how they are related; the shape of a typical firm’s cost curves; the relationship between short-run and long-run costs.
- students should describe the following: what characteristics make a market competitive; how competitive firms decide how much output to produce; how competitive firms decide when to shut down production temporarily; how competitive firms decide whether to exit or enter a market; how firm behavior determines a market’s short-run and long-run supply curves.
- students should describe the following: why some markets have only one seller; how a monopoly determines the quantity to produce and the price to charge; how the monopoly’s decisions affect economic well-being; why monopolies try to charge different prices to different customers; the various public policies aimed at solving the problem of monopoly.
- students should describe the following: what market structures lie between monopoly and competition; competition among firms that sell differentiated products; how the outcomes under monopolistic competition and under perfect competition compare; the desirability of outcomes in monopolistically competitive markets; the debate over the effects of advertising; the debate over the role of brand names.
- students should describe the following: what outcomes are possible when a market is an oligopoly; the prisoners’ dilemma and how it applies to oligopoly and other issues; how the antitrust laws try to foster competition in oligopolistic markets.
- students should describe the following: the labor demand of competitive, profit-maximizing firms; the household decisions that lie behind labor supply; why equilibrium wages equal the value of the marginal product of labor; how the other factors of production—land and capital—are compensated; how a change in the supply of one factor alters the earnings of all of the factors.
- students should describe the following: what an externality is, why externalities can make market outcomes inefficient; the various government policies aimed at solving the problem of externalities; how people can sometimes solve the problem of externalities on their own; why private solutions to externalities sometimes do not work; the defining characteristics of public goods and common resources;
- students should describe the following: why private markets fail to provide public goods; some of the important public goods in our economy; why the cost–benefit analysis of public goods is both necessary and difficult; why people tend to use common resources too much; some of the important common resources in our economy.
- students should describe the following: why an economy’s total income equals its total expenditure; how gross domestic product (GDP) is defined and calculated; the breakdown of GDP into its four major components; the distinction between real GDP and nominal GDP; whether GDP is a good measure of economic well-being.
- students should describe the following: how the consumer price index (CPI) is constructed; why the CPI is an imperfect measure of the cost of living; how to compare the CPI and the GDP deflator as measures of the overall price level; how to use a price index to compare dollar figures from different times; the distinction between real and nominal interest rates
- students should describe the following: how much economic growth differs around the world; why productivity is the key determinant of a country’s standard of living; the factors that determine a country’s productivity; how a country’s policies influence its productivity growth.
- students should describe the following: some of the important financial institutions in the U.S. economy; how the financial system is related to key macroeconomic variables; the model of the supply and demand for loanable funds in financial markets; how to use the loanable-funds model to analyze various government policies; how government budget deficits affect the U.S. economy
- students should describe the following: the relationship between present value and future value; the effects of compound growth; how risk-averse people reduce the risk they face; how asset prices are determined.
- students should describe the following: the data used to measure the amount of unemployment; how unemployment can result from minimum-wage laws; how unemployment can arise from bargaining between firms and unions; how unemployment results when firms choose to pay efficiency wages.
- students should describe the following: what money is and what functions money has in the economy; what the Federal Reserve System is; how the banking system helps determine the supply of money; what tools the Federal Reserve uses to alter the supply of money.
- students should describe the following: why inflation results from rapid growth in the money supply; the meaning of the classical dichotomy and monetary neutrality; why some countries print so much money that they experience hyperinflation; how the nominal interest rate responds to the inflation rate; the various costs that inflation imposes on society.
- students should describe the following: three key facts about short-run economic fluctuations; how the economy in the short run differs from the economy in the long run; how to use the model of aggregate demand and aggregate supply to explain economic fluctuations; how shifts in either aggregate demand or aggregate supply can cause booms and recessions.
- students should describe the following: the theory of liquidity preference as a short-run theory of the interest rate; how monetary policy affects interest rates and aggregate demand; how fiscal policy affects interest rates and aggregate demand; the debate over whether policymakers should try to stabilize the economy.
- students should describe the following: why policymakers face a short-run trade-off between inflation and unemployment; why the inflation-unemployment trade-off disappears in the long run; how supply shocks can shift the inflation-unemployment trade-off; the short-run cost of reducing inflation; how policymakers’ credibility might affect the cost of reducing inflation.
- students should describe the following: how net exports measure the international flow of goods and services; how net capital outflow measures the international flow of capital; why net exports must always equal net foreign investment.
- students should describe the following: how saving, domestic investment, and net capital outflow are related; the meaning of the nominal exchange rate and the real exchange rate; purchasing-power parity as a theory of how exchange rates are determined.
- students should describe the following: how to build a model to explain an open economy’s trade balance and exchange rate; how to use the model to analyze the effects of government budget deficits; how to use the model to analyze the macroeconomic effects of trade policies; how to use the model to analyze political instability and capital flight
- Introduction of the course• Ch1. Ten Principles of Economics How people make decisions How people interact How the Economy as a whole works • Ch2. Thinking like an Economist The economist as a scientist The economist as a policy advisor
- Interdependence and the Gains from Trade A parable for the modern Economy Comparative advantage: The driving force of specialization
- The Market Forces of Supply and Demand Markets and competition Demand Supply Supply and demand together
- Elasticity and its Application The elasticity of demand The elasticity of supply
- Supply, Demand and Government Policies Control on prices Taxes
- Consumers, Producers and the Efficiency of Markets Consumer surplus Producer surplus Market efficiency
- The Theory of Consumer Choice The budget constraint: what the consumer can afford Preferences: what the consumer wants Optimization: what the consumer chooses Three applications
- The Costs of the Production What are the costs? Production and costs The various measures of costs Costs in the short run and in the long run
- Firms in Competitive Markets What is a competitive market? Profit maximization and the competitive firm’s supply The supply curve in a competitive market
- Monopoly Why monopolies arise How monopolies make production and pricing The welfare cost of monopolies Price discrimination Public policy toward monopolies
- Monopolistic Competition / Oligopoly• Ch16. Monopolistic Competition Between Monopoly and perfect competition Competition with differentiated products Advertising • Ch17. Oligopoly Markets with only a few sellers The economics of cooperation Public policy toward oligopolies
- Oligopoly The economics of cooperation Public policy toward oligopolies
- The Markets for the Factors of Production The demand for labor The supply for labor Equilibrium in the labor market The other factors of production: land and capital
- Externalities / Public Goods and Common Resources• Ch10. Externalities Externalities and market inefficiency Public policies towards externalities Private solutions to externalities • Ch11. Public Goods and Common Resources (if time permits) The different kinds of goods Public goods Common resources
- Measuring a Nation’s IncomeTopics - What is Gross Domestic Product (GDP)? - How is GDP related to a nation’s total income and spending? - What are the components of GDP? - How is GDP corrected for inflation? - Does GDP measure society’s well-being?
- Measuring the Cost of LivingTopics - What is the Consumer Price Index (CPI)? - How is it calculated? What’s it used for? - What are the problems with the CPI? How serious are they? - How does the CPI differ from the GDP deflator? - How can we use the CPI to compare dollar amounts from different years? Why would we want to do this, anyway? - How can we correct interest rates for inflation?
- Production and GrowthTopics - What are the facts about living standards and growth rates around the world? - Why does productivity matter for living standards? - What determines productivity and its growth rate? - How can public policy affect growth and living standards?
- Saving, Investment, and the Financial SystemTopics - What are the main types of financial institutions in the U.S. economy, and what is their function? - What are the three kinds of saving? - What’s the difference between saving and investment? - How does the financial system coordinate saving and investment? - How do government policies affect saving, investment, and the interest rate?
- The basic tools of FinanceTopics - the relationship between present value and future value. - the effects of compound growth. - how risk-averse people reduce the risk they face. - how asset prices are determined.
- UnemploymentTopics - How is unemployment measured? - What is the “natural rate of unemployment”? - Why are there always some people unemployed? - How is unemployment affected by unions and minimum wage laws? - What is the theory of efficiency wages, and how does it help explain unemployment?
- The Monetary SystemTopics - What assets are considered “money”? What are the functions of money? The types of money? - What is the Federal Reserve? - What role do banks play in the monetary system? How do banks “create money”? - How does the Federal Reserve control the money supply?
- Money Growth and InflationTopics - How does the money supply affect inflation and nominal interest rates? - Does the money supply affect real variables like real GDP or the real interest rate? - How is inflation like a tax? - What are the costs of inflation? How serious are they?
- Aggregate Demand and Aggregate SupplyTopics - What are economic fluctuations? What are their characteristics? - How does the model of aggregate demand and aggregate supply explain economic fluctuations? - Why does the Aggregate-Demand curve slope downward? What shifts the AD curve? - What is the slope of the Aggregate-Supply curve in the short run? In the long run? What shifts the AS curve(s)?
- The Influence of Monetary and Fiscal Policy on Aggregate DemandTopics - How does the interest-rate effect help explain the slope of the aggregate-demand curve? - How can the central bank use monetary policy to shift the AD curve? - In what two ways does fiscal policy affect aggregate demand? - What are the arguments for and against using policy to try to stabilize the economy?
- The Short-Run Tradeoff Between Inflation and UnemploymentTopics - How are international flows of goods and assets related? - What’s the difference between the real and nominal exchange rate? - What is “purchasing-power parity,” and how does it explain nominal exchange rates?
- Open-Economy Macroeconomics: Basic ConceptsTopics - How are international flows of goods and assets related? - What’s the difference between the real and nominal exchange rate? - What is “purchasing-power parity,” and how does it explain nominal exchange rates?
- A Macroeconomic Theory of the Open EconomyTopics - In an open economy, what determines the real interest rate? The real exchange rate? - How are the markets for loanable funds and foreign-currency exchange connected? - How do government budget deficits affect the exchange rate and trade balance? - How do other policies or events affect the interest rate, exchange rate, and trade balance?
- Q&A session
- Assignments - Homework 1 (неблокирующий)
- Assignments - Quizzes 1 (неблокирующий)
- Midterm test 1 (неблокирующий)
- Attendance 1 (неблокирующий)
- Final Exam 1 (неблокирующий)
- Assignments - Homework (неблокирующий)
- Assignments - Quizzes (неблокирующий)
- Attendance (неблокирующий)
- Midterm test (неблокирующий)
- Final Exam (неблокирующий)
- Промежуточная аттестация (2 модуль)0.15 * Assignments - Homework 1 + 0.05 * Assignments - Quizzes 1 + 0.1 * Attendance 1 + 0.4 * Final Exam 1 + 0.3 * Midterm test 1
- Промежуточная аттестация (4 модуль)0.15 * Assignments - Homework + 0.05 * Assignments - Quizzes + 0.1 * Attendance + 0.4 * Final Exam + 0.3 * Midterm test
- Principles of economics, Case K. E., Fair R. C., 2016
- Stiglitz, J. E. (2016). Principles of Economics (Vol. Second edition). Milton, Qld: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1650548