Microeconomics Microeconomics(微观经济学) is the study of how individual households and firms make decisions and how they interact with one another in markets
Microeconomics •Microeconomics(微观经济学) is the study of how individual households and firms make decisions and how they interact with one another in markets
AT MaCroecoomitas Macroeconomics(宏观经济学) is the study of the economy as a whole
• Macroeconomics(宏观经济学) is the study of the economy as a whole. Macroeconomics
Gross Domestic product Gross domestic product (GDP)is the total market value of all final goods and services produced within a country during a specific period. GDP(国内生产总值是在某一既定 时期一个国家内生产出的所有最 终物品和劳务的市场价值
• Gross domestic product (GDP) is the total market value of all final goods and services produced within a country during a specific period. Gross Domestic Product GDP(国内生产总值)是在某一既定 时期一个国家内生产出的所有最 终物品和劳务的市场价值
The Measurement of GDP GDP is the market value of all final goods and services produced within a country in a given period of time
The Measurement of GDP GDP is the market value of all final goods and services produced within a country in a given period of time
1.“…. goods and services GDP includes both tangible goods(food, clothing, cars) and intangible services Haircuts, housecleaning, doctor visits
1. “ …goods and services…” GDP includes both tangible goods (food, clothing, cars) and intangible services (haircuts, housecleaning, doctor visits)
2.GDP is the market value ° QUICK QUIZ Which contributes more to GDP---the production of an economy car or the production of a luxury car? Why?
2.“GDP is the market value…” • QUICK QUIZ: • Which contributes more to GDP---the production of an economy car or the production of a luxury car? Why?
3.produced GDP includes goods and services currently produced. It does not include transactions Involving Items produced in the past (1) GDP excludes second- hand sales(二手交 (2) GDP excludes financial transactions(财务 往来)
3….produced… • GDP includes goods and services currently produced. It does not include transactions involving items produced in the past. • ⑴GDP excludes second-hand sales(二手交 易). • ⑵ GDP excludes financial transactions(财务 往来)
(2) GDP excludes(不包括) financial transactions(财务往来 Public transfer payments(公共转移支付 Private transfer payments(私人转移支付) the buying and selling of shares or securities(买卖股票和有价证券)
⑵ GDP excludes(不包括) financial transactions(财务往来). • Public transfer payments(公共转移支付) • Private transfer payments (私人转移支付) • the buying and selling of shares or securities(买卖股票和有价证券)
4“.. of all. GDP includes all items produced in the economy and sold legally in markets
4 “ …of all…” • GDP includes all items produced in the economy and sold legally in markets