Unit One Introduction to Economics 1
Reading One Introduction to Economics 1
Reading Two Research on Challenges and Strategies for China's Green Economy Development 6
In the News China Will Be World's Leading Economic Power by 2030 11
Unit Two Demand and Supply 13
Reading One The Market Forces of Demand and Supply 13
Reading Two Urban Supply-Demand Interrelations in Business Services 22
In the News Oil Prices Collapse on Falling Demand 25
Unit Three The Public Sector 27
Reading One Government's Functions in the Economy 27
Reading Two Are Chinese Stock and Property Markets Integrated or Segmented? 35
In the News China Raises Defense Budget,Promises to Help the Poor 39
Unit Four The Organization of Industry 41
Reading One Monopoly 41
Reading Two The Chinese Government and the National Oil Companies(NOCs):Who Is the Principal? 48
In the News McCain Wants US to Buy Bad Home Loans;Obama Pushes for Tax Cuts 51
Unit Five Firm Behavior 54
Reading One The Costs of Production 54
Reading Two A Tale of Two Eco-Cities:Experimentation under Hierarchy in Shanghai and Tianjin 62
In the News Quick Action Sought on US Plan to Rescue Banks from Bad Debts 67
Unit Six Labor Market 69
Reading One Increasing Wage Inequality:The Effects of Globalization and Technology 69
Reading Two Closing the Skills Gap:Companies and Colleges Collaborating for Change 75
In the News China's Rural Migrant Workers Deserve More Respect from the City-dwellers 80
Unit Seven Social Welfare 82
Reading One Is GDP a Good Measure of Economic Well-being 82
Reading Two A Summary of the Liveability Ranking and Overview of 2014 89
In the News China Overtakes Japan as No.2 Economy 93
Unit Eight Monetary Policy 96
Reading One The Costs of Inflation:Not What You Think 96
Reading Two Financial Markets 103
In the News Price Data Suggest Specter of Deflation in China 107
Unit Nine The Role of Government 110
Reading One Should the Government Use Policy to Stabilize the Economy? 110
Reading Two The G20 E-Trade Readiness Index 116
In the News China Cuts Lending Rate as Its Economic Growth Slows 120
Unit Ten International Economics 124
Reading One The Logic of International Trade 124
Reading Two Breaking Borders:From Canada to China,Barriers Overshadow Growth for Expanding SMEs 130
In the News Facing a Slowing Economy,China Turns to American Exports 134
Key to the Exercises 137
Bibliography 146