一、国际金融“大鳄”背景介绍 1.索罗斯(· Soros),职业金融投机家,牛津大学、耶鲁大学等大学名誉博士,《金 融炼金术》一书1987年出版,没几个人看得懂但1994年再版时,该书成为抢手货(为 何?)。其创立的量子基金(注:量子基金属一种套利基金,是一种经常使用期货、期权和 互换等金融衍生工具的基金,又常称衍生基金,到1994年为止,美国已有套利基金300多 个,拥有近2000亿美元资产)28年来报酬率年均增长35%

Production — Games 1 Monopolistic Competition Monopolistic competition arises when there are a large number of price-setting firms in an industry with free entry. Suppose there are n firms. In the short run, each firm faces an nth of the market demand curve

Endowments and Allocations Consider first the case of a pure exchange economy. (One with no production). Suppose there are two consumers, A and B, in a two good economy. A starts with an endowment of ωA =

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

There are two countries, Home (H) and Foreign (F). There are two goods, units of wine (Qw) and cheese (Qc). Suppose there is one factor of production, labour, which is available in amounts L and L

The last lecture investigated which bundle of goods the consumer prefers. However, goods cost money and the consumer cannot afford to buy indefinite amounts of each good

There is another way to decompose the price effect. For simplicity consider a consumer with fixed income m. The Hicks decomposition involves pivoting the budget line around the initial indifference curve rather than the initial bundle. The diagram below illustrates for a price decrease in good 1

Production requires inputs — factors of production — for example, labour and capital equipment. A production set is the set of outputs feasible given a particular combination of inputs. The production function

The monopolist is the only firm in the industry. Therefore, they face the entire demand curve. Profits are given by total revenue minus total costs. π = p(y)y − c(y). p(y) is the inverse demand curve

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