Revision: I. Expressions Directions: Turn the following English terms into Chinese without looking at your textbook 1. market slump 2. market boom 3. market share 4. market fluctuations 5. strong market
Market Efficiency-Market Failure Recall that: Adam Smith’s “invisible hand” of the marketplace leads self-interested buyers and sellers in a market to maximize the total benefit that society can derive from a market
Chapter 10 Pricing in Factor Market Chapter 11 General Equilibrium and Welfare Economics 一般均衡与福利经济学 Chapter 12 Market Failure and Public Goods 市场失灵与公共产品
Introduction The objective of this chapter is to put the previously discussed two models --the models of product market and money market --together and discuss how output and interest rate is determined The model presented in this chapter is often called the IS-LM model (IS: the product market model; LM the money market model)
The Market Forces of Supply and Demand Supply and demand are the two words that economists use most often. Supply and demand are the forces that make market economies work. Modern microeconomics is about supply, demand, and market equilibrium
Market Efficiency - Market Failures Recall that: Adam Smith’s “invisible hand” of the marketplace leads selfinterested buyers and sellers in a market to maximize the total benefit that society can derive from a market
The objective of this chapter is to study how money and interest rate is determined in the money and financial market. The money and financial market is the market in which money and various financial assets (such as, bonds and stocks) are exchanged
The objective of this chapter is to put the previously discussed two models -- the models of product market and money market --together and discuss how output and interest rate is determined The model presented in this chapter is often called the IS-LM model (IS: the product market model; LM the money market model)
