经济学原理 英文版 珍藏版PDF电子书下载

CONTENTS 1

PART I 1

INTR0DUCTION 1

CHAPTER 1 TEN PRINCIPLES OF ECON0MICS 3

How People Make Decisions 4

Principle #1: People Face Tradeoffs 4

Principle #2: The Cost of SOmething ls What You Give Up to Get It 5

Principle #3: Rational People Think at the Margin 6

Principle #4: People Respond to Incentives 7

How People Interact 8

Principle #5: Trade Can Make Everyone Better Off 8

Principle #6: Markets Are Usually a Good Way to Organize Economic Activity 9

Principle #7: Governments Can Sometimes Improve Market Outcomes 10

How the Economy as a Whole works 10

Principle #8: A Country's Standard of Living Depends on Its Ability to Produce Goods and Services 11

Principle #9: Prices Rise When the Government Prints Too Much Money 12

Principle #10: Society Faces a Short Run Tradeoff between Inflation and Unemployment 13

Conclusion 13

Summary 14

Key Concepts 14

Questions for Review 15

Problems and Applications 15

CHAPTER 2 THINKING LIKE AN EC0NOMIST 17

The Economist as Scientist 18

The Scientific Method: Observation, Theory and More Observation 19

The Role of Assumptions 19

Economic Models 20

Our First Model: The Circular-Flow Diagram 21

Our Second Model: The Production Possibilities Frontier 22

Microeconomics and Macroeconomics 25

The Economist as Policymaker 26

Positive versus Normative Analysis 26

EconomistS in Washington 27

Why Economists Disagree 28

Differences in Scientific Judgments 28

Differences in Values 29

Charlatans and Cranks 29

Perception versus Reality 30

Let's Get Going 31

Summary 32

Key Concepts 32

Questions for Review 32

Problems and Applications 33

Graphs of Two Variables: The Coordinate System 34

Graph5 of a Single Variable 34

Appendix: Graphing--A Brief Review 34

Curves in the Coordinate System 36

Slope and Elasticity 39

Cause and Effect 41

Omitted Variables 41

Reverse Causality 42

CHAPTER 3 INTERDEPENDENCE AND THE GAINS FR0M TRADE 45

A Parable for the Modem Economy 46

Production Possibilities 46

Specialization and Trade 48

The Principle of Comparative Advantage 50

Absolute Advantage 51

Opportunity Cost and Comparative Advantage 51

Comparative Advantage and Trade 52

Should Michael Jordan Mow His Own Lawn? 53

Applications of Comparative Advantage 53

FYI: The Legacy of Adam Smith and David Ricardo 54

Should the United States Trade with Other Countries? 54

Conclusion 55

Summary 55

Key Concepts 56

Questions for Review 56

Problems and Applications 56

PART II 57

SUPPLY AND DEMAND I:HOW MARKETS W0RK 59

CHAPTER 4 THE MARKET F0RCES OF SUPPLY AND DEMAND 61

Markets and Competition 62

Competitive Markets 62

Competition: Perfect and Otherwise 62

Price 63

Demand 63

The Determinants of Individual Demand 63

Income 64

Prices of Related Goods 64

Tastes 64

Expectations 64

The Demand Schedule and the Demand Curve 64

Ceteris Paribus 66

Market Demand versus Individual Demand 66

Shifts in the Demand Curve 68

CASE STUDY: Two Ways to Reduce the Quantity of Smoking Demanded 69

Supply 70

The Supply Schedule and the Supply Curve 71

Expectations 71

Technology 71

Input Prices 71

Price 71

The Determinants of Individual Supply 71

Market Supply versus Individual Supply 72

Shifts in the Supply Curve 73

Supply and Demand Together 74

Equilibrium 76

Three Steps to Analyzing Changes in Equilibrium 78

Example: A Change in Demand 78

Shifts in Curves versus Movements along Curves 80

Example: A Change in Supply 80

Example:A Change in Both Supply and Demand 81

Conclusion: How Prices Allocate Resources 81

lN THE NEWS: Supply, Demand, and the Price of Paper--Pulp Reality 83

Summary 84

Key Concepts 85

Questions for Review 85

Problems and Applications 85

CHAPTER 5 ELASTICITY AND ITS APPUCATI0N 89

The Elasticity of Demand 90

The Price Elasticity of Demand and Its Determinants 90

Necessities versus Luxuries 90

Availability of Close Substitutes 90

Definition of the Market 90

Time Horizon 91

Computing the Price Elasticity of Demand 91

FYI: Calculating E1asticities Using the Midpoint Method 92

The Variety of Demand Curves 92

Total Revenue and the Price Elasticity of Demand 94

The Income Elasticity of Demand 96

CASE STUDY: Pricing Admission to a Museum 96

FYI: Elasticity and Total Revenue along a Linear Demand Curve 97

IN THE NEWS: On the Road with Elasticity--For Whom the Booth Tolls, Price Really Does Matter 98

The Elasticity of Supply 99

The Price Elasticity of Supply and Its Determinants 99

Computing the Price Elasticity of Supply 99

The Variety of Supply Curves 100

Three Applications of Supply, Demand, and Elasticity 102

Can Good News fOr Farming Be Bad News fOr Farmers? 103

Why Did OPEC Fail to Keep the Price of Oil High? 105

Does Drug Interdiction Increase or Decrease Drug-Related Crime? 106

Conclusion 108

Summary 108

Problems and Applications 109

Questions for Review 109

Key Concepts 109

CHAPTER 6 SUPPLY DEMAND, AND GOVERNMENT POLICIES 111

Controls on Prices 112

How Price Ceilings Affect Market Outcomes 112

CASE STUOY: Lines at the Gas Pump 113

CASE STUDY: Rent Control in the Short Run and Long Run 115

IN THE NEWS: Rent Control in New York City--Home Free: Some Rich and Famous of New York City Bask in Shelter of Rent Law 116

How Price Floors Affect Market Outcomes 117

CASE STUDY: The Minimum Wage 118

Evaluating Price Controls 120

Taxes 121

How Taxes on Buyers Affect Market Outcomes 122

How Taxes on Sellers Affect Market Outcomes 123

CASE STU0Y: Can Congress Distribute the Burden of a Payroll Tax? 124

Elasticity and Tax Incidence 125

CASE STUDY: Who Pays the Luxury Tax? 127

Conclusion 128

Key Concepts 128

Questions for Review 128

Summary 128

Problems and Applications 129

PART III 129

SUPPLY AND DEMAND II:MARKETS AND WELFARE 131

CHAPTER 7 CONSUMERS, PRODUCERS, AND THE EFFICIENCY 0F MARKETS 133

Willingness to Pay 134

Consumer Surplus 134

Using the Demand Curve to Measure Consumer Surplus 135

How a Lower Price Raises Consumer Surplus 138

What Does Consumer Surplus Measure? 138

Producer Surplus 140

Cost and the Willingness to Sell 140

Using the Supply Curve to Measure Producer Surplus 141

How a Higher Price Raises Producer Surplus 143

The Benevolent Social Planner 144

Market Efficiency 144

FYI: The Invisible Hand of the Marketplace 145

Evaluating the Market Equilibrium 146

lN THE NEWS: Ticket Scalping--Tickets? Supply Meets Demand on Sidewalk 148

Conclusion: Market Efficiency and Market Failure 150

Summary 151

Key Concepts 151

Questions for Review 151

Problems and Applications 151

CHAPTER 8 APPLICATI0N: THE COSTS 0F TAXATION 155

How a Tax Affects Market Participants 156

The Deadweight Loss of Taxation 156

Welfare without a Tax 157

Welfare with a Tax 158

Changes in Welfare 158

Deadweight Losses and the Gains from Trade 159

The Determinants of the Deadweight Loss 160

CASE STUDY: The Deadweight Loss of Taxes on Labor 162

CASE STUDY: Henry George and the Tax on Land 163

Deadweight Loss and Tax Revenue as Taxes vary 164

CASE STUDY: The Laffer Curve and Supply-Side Economics 166

Conclusion 168

IN THE NEWS: Should Ukraine Cut Tax Rates to Raise Tax Revenue?--A Big Tax Cut to Lyt the Economy-Not Her, in Ukraine 169

PrOblems and Applications 170

Questions for Review 170

Key Concepts 170

Summary 170

CHAPTER 9 APPLICATION: INTERNATIONAL TRADE 173

The Determinants of Trade 174

The Equilibrium without Trade 174

The World Price and Comparative Advantage 175

FYI: Comparing Prices and Comparative Advantage 175

The Winners and Losers frOm Trade 176

The Gains and Losses of an Exporting Country 176

The Gains and Losses of an ImPOrting Country 179

The Effects of a Tariff 181

The Effects of an IMport Quota 182

The Lessons for Trade Policy 185

The Arguments for Restricting Trade 186

The Jobs Argument 186

The Infant-Industry Argumen 187

The National-Security Argument 187

President Wins Tomato Accord for Flaridians: Mexico Agrees to End Low-Price Shipments 188

IN THE NEWS: NAFTA and Mexican Tomatoes- 188

The Unfair-Competition Argument 189

The Protection-as-a-Bargaining-Chip Argument 189

CASE STUDY: GATT and the Multilateral Approach to Free Trade 189

IN THE NEWS: A Chicken Invasion--U.S. Chicken in Every Pot? Nyet! Russians Cry Foul 190

Conclusion 191

Summary 192

Key Concepts 192

Questions for Review 193

Problems and Applications 193

PART IV 197

THE ECONOMICS OF THE PUBLIC SECT0R 197

CHAPTER 10 EXTERNALITIES 199

Welfare Economics:A Recap 201

Externalities and Market Inefficiency 201

Negative Externalities in Production 202

Positive Externalities in Production 203

CASE STUDY: The Debate over Technology Policy 204

Externalities in Consumption 205

Private Solutions to Externalities 207

The Types of Private Solutions 207

IN THE NEWS: An Outraged Citizen Speaks Out-Smokers, Pick UP Your Butts 208

The Coase Theorem 208

Why Private Solutions DO NOt Always Work 209

Public POlicies toward Externalities 210

Regulation 210

Pigovian Taxes and Subsidies 211

Tradable Pollution Permits 212