留學生經濟學作業：國際范圍內的學生寫作指南Economics in an International Context Student Module Guide
03-02, 2013
Assessment Recap
End of term examination: 50%
Multiple Choice & short answer questions
Individual assignment: 30%
1000 word essay assignment
Individual coursework: 20%
Ongoing Tasks – 2 sets of questions
評估小結
結束的期中考試：50％
多項選擇題和簡答題的
個人essay：30％
1000字的文章分配
個人習作：20％
正在進行的任務 - 2組的問題
一起工作
第1課 - 大組講座
教師帶領 - 經濟學essay寫作指南最多70名學生
引入新的材料和意見。
“大綱理論
第2課 - 小組講座
第3課 - 小組研討會
完成復習題
集團工作和討論
個人或團體的研究
通過任何問題的地方
正在進行的任務和收集。
您的基本規則
我有四個規則;
Working together
Lesson 1– Large Group Lecture
Teacher lead – up to 70 students
Introducing new material and ideas.
Outlining theory
Lesson 2 – Small Group Lecture
Lesson 3 – Small Group Seminar
Completing review questions
Group work and discussions
Individual or group research
working through any problem areas
setting and collecting Ongoing Tasks.
Ground Rules for you
I have four rules;
Come to class and be on-time
No mobile phones – SWITCH ‘EM OFF!!!!
Respect your colleagues in the group
If you don’t understand, Please ask!!!!
Ground Rules for me
I will be here for every lesson and I will be on time
I will cover everything you need to know for your assessments
I will treat all members of the group with respect – providing they do the same.
Other Important Items
Taking Responsibility
Lecture slides and notes
Download from VLE
Contacting me;
Some other thoughts
High or low marks??
Hardly ever a result of aptitude or ability
Nearly always a result of #p#分頁標題#e#
Attitude
Application
Organisation
Participation
Responsibility
A VERY Important Question.….
What is Economics??
Important Questions?
Why are houses so expensive in the UK?
What are we going to do when the oil runs out?
Shouldn’t we just wipe out the debt that the developing countries owe us?
Inflation – no idea what it is; but it doesn’t affect me, does it?
Why do footballers/models get paid so much and nurses get so little?
Why is Gold more expensive than oxygen?
Introduction to Economics
The Economic Problem
Opportunity Cost
Production Possibility Frontiers
The Economic Problem
Unlimited Wants
Scarce Resources
Resource Use
Choices
Defining some Key Terms
Before we take another step we should define some fundamental terms
Opportunity Cost
Economic agents
Resources
Utility and rationality
Models and assumptions
Opportunity Cost
Definition – the cost expressed in terms of the next best alternative sacrificed
Helps us view the true cost of decision making
Implies valuing different choices
Priorities and prioritisation
Actors in the Economy
An Economic Agent is anyone who performs a role within the economy
Types of economic agent: producers, consumers and workers for example
This can be confusing as individuals can have more than one role as an agent
Resources
These are the ingredients which go into producing all the goods and services that we need.
Typically they are categorised into three (or sometimes four) groups
More about resources
Our resources are the things we can use to produce the goods and services we need.
Typically we divide these up into three categories
Land
Labour
Capital
Land, labour and capital
Land (L)
Natural resources
Crops and Timber
Animals (both on land and at sea)
Utility
Utility is an idea that conveys the idea of satisfaction or happiness
We assume that economic agents are all seeking to make themselves as happy or satisfied as possible
We also assume that agents act rationally and consistently
Agents are not always rational for a variety of reasons #p#分頁標題#e#
Studying Behaviour
Economics is the study of people
How do people behave?
How do you behave?
Three different but related ideas;
Utility
Rationality
Consistency
Introducing Models
A method of simplifying the complex nature of economies to try and understand how they work
Economies are extremely complicated systems
Stripping away some of the complexity
Making assumptions about behaviour
Often communicated using simple diagrams
Our First Model
We need some way of showing the related ideas of limited resources and opportunity cost
We can use a simple model for this task
Our model is known as a Production Possibility Frontier
Production Possibility Frontiers
Show the different combinations of goods and services that can be produced with a given amount of resources
No ‘ideal’ point on the curve
Any point inside the curve – suggests resources are not being utilised efficiently
Any point outside the curve – not attainable with the current level of resources
Useful to demonstrate economic growth and opportunity cost
Production Possibility Frontiers
Categories of Goods
What different types of goods can we produce?
Capital goods
Machinery, tools and other equipment which can be used in the production of other goods
Consumer goods
TVs, computers, houses, cars or any other good which is produced for its own sake
Production Possibility Frontiers
Key Economic Questions
WHAT goods and services should an economy produce?
– should the emphasis be on agriculture, manufacturing or services, should it be on sport and leisure or housing?
HOW should goods and services be produced?
– labour intensive, land intensive, capital intensive? Efficiency?
WHO should get the goods and services produced?
– even distribution? more for the rich? for those who work hard?
Different Economic Systems
Different ideas about how our three important questions should be answered;
What should be produced
How should it be produced
Who should get the output
The way an economy answers these questions allows us to identify which Economic System is being used
Types of Economy
Free Market Economy
The questions answered by the market with no role for the government
Resource allocation through the decisions of households and firms acting in their own self interest#p#分頁標題#e#
No meaningful regulation of business activities by the state
Sometimes referred to as ‘Capitalist’ economies
Types of Economy
Command/Planned Economy
Three questions answered by a central planning administration
Resource allocation determined by government planners who decide what/how and for whom production occurs.
Instructions then passed directly from planners to firms, households and workers.
Unlikely that prices will even exist
Often referred to as a ‘Communist’ economy
Types of Economy
Mixed Economy
Government and private sector interact to solve economic problems.
Government regulates degree to which individuals can pursue their own interest.
This model represents the most common system of resource allocation.
Perhaps true to say that no economy is either fully planned or totally free market
Economies differ in the extent of state or market control
Assessing these systems
The idea of a spectrum or scale
Both have advantages and disadvantages
All ‘real’ economies are mixed
Market Economy
Advantages
Resources allocated automatically
Consumer dictates production
Quick response
Market Economy
Disadvantages
Unfairness
Monopoly power
Externalities and social costs
Planned Economy
Advantages
‘Wasteful’ competition
Greater equality
No problem of inflation
Planned Economy
Disadvantages
Difficulty of planning
Reduced incentives for producers
Lack of variety in products
Bureaucracy
Mixed Economies
Booms and slumps due to the business cycle
Governments intervene (or interfere) to different extent
Monopoly power, inequalities and externalities may remain or be regulated
Summary
Concept of Resources
Factors of Production
Production Possibility Frontier
Showing limits on output
Demonstrating opportunity cost
Economic Systems
Differences between the three systems
Critical Analysis
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