Production — Oligopoly 1 Cournot Duopoly Suppose there are two firms in an industry. Their strategy spaces are quantities. Their payoffs are profits. Industry demand is given by the inverse demand function, P(Q), where industry production is Q = q1 + q2. They

A consumption externality is a situation where a consumer cares directly about another agent’s consumption or production of a particular good. An externality can be positive or negative: 1. Negative: Loud mobile phone use in public places. 2. Positive: Pipe smoking in enclosed public places

Consumers make choices over bundles of goods. Consumer theory models the way in which these choices are made. A good is simply a product — such as apples or bananas. A good may be specified in terms of time — such as

Suppose the consumer’s income were to increase. Optimal choice changes. How?

1. 了解公共物品和共有资源的定义 2. 考察为什么私人市场不能生产公共物品 3. 考虑我们经济中的一些重要的公共物品 4. 说明为什么公共物品的成本—收益分析既是必要的又是困难的 5. 考察为什么人们往往会过多的使用共有资源 6. 考虑我们经济中一些重要的共有资源

There are many different types of market structure. The main ones are: 1. Perfect Competition: Many small price-taking firms in an industry with free-entry. 2. Monopoly: One large price-setting firm in an industry with barriers to entry

1、为什么一个经济的总收入等于其总支出 2、如何定义和计算国内生产总值GDP 3、说明GDP分为四个主要部分 4、了解实际GDP与名义GDP之间的区别 5、考虑GDP是不是经济福利良好的衡量指标

货币的含义 货币是任何一种被普遍接受为交换媒介，并 且具有价值储藏和计算单位功能的经济工具。 换言之，在购买商品劳务或清偿债务时被广 泛接受的任何物品都可以称作货币。 货币：经济中人们经常用于向其他人购买物 品与劳务的一组资产

1、金融即资金融通，指资金储蓄者与借款人就让渡资金使用权发生的交易行为。 2、如果资金是经济的血液，金融就是血液循环的系统。 3、金融体系是由经济中帮助一个人的储蓄与另外一个人的投资相匹配的机构组成。 4、金融机构可以分为两种类型：金融市场和金融机构

1. Course Objective This course is intended for those taking Prelims in Philosophy, Politics and Economics, Mods in Modern History and Economics, Prelims in Economics and Management and Part Is in Engineering, Economics and Management or Materials, Economics and Management