MindMap Gallery economic principles
This book is a revised version of "A Concise Course in Western Economics" edited by Professor Yin Bocheng of Fudan University. The textbook covers the basic principles and main theories of microeconomics and macroeconomics. With easy-to-understand words and reasonable structural levels, the textbook guides beginners to understand and master basic and important knowledge points in the complex Western economics theoretical system.
Edited at 2019-07-20 12:45:11Avatar 3 centers on the Sully family, showcasing the internal rift caused by the sacrifice of their eldest son, and their alliance with other tribes on Pandora against the external conflict of the Ashbringers, who adhere to the philosophy of fire and are allied with humans. It explores the grand themes of family, faith, and survival.
This article discusses the Easter eggs and homages in Zootopia 2 that you may have discovered. The main content includes: character and archetype Easter eggs, cinematic universe crossover Easter eggs, animal ecology and behavior references, symbol and metaphor Easter eggs, social satire and brand allusions, and emotional storylines and sequel foreshadowing.
[Zootopia Character Relationship Chart] The idealistic rabbit police officer Judy and the cynical fox conman Nick form a charmingly contrasting duo, rising from street hustlers to become Zootopia police officers!
Avatar 3 centers on the Sully family, showcasing the internal rift caused by the sacrifice of their eldest son, and their alliance with other tribes on Pandora against the external conflict of the Ashbringers, who adhere to the philosophy of fire and are allied with humans. It explores the grand themes of family, faith, and survival.
This article discusses the Easter eggs and homages in Zootopia 2 that you may have discovered. The main content includes: character and archetype Easter eggs, cinematic universe crossover Easter eggs, animal ecology and behavior references, symbol and metaphor Easter eggs, social satire and brand allusions, and emotional storylines and sequel foreshadowing.
[Zootopia Character Relationship Chart] The idealistic rabbit police officer Judy and the cynical fox conman Nick form a charmingly contrasting duo, rising from street hustlers to become Zootopia police officers!
economic principles
preface
The research object of economics
scarcity of economic resources
basic economic issues
what produces what
how to produce
who produces for whom
when when produced
Opportunity cost and production possibilities frontier
opportunity cost
production possibilities curve
Reason for moving
changes in economic system
changes in economic resources
Changes in production technology
Research content of economics
economic system issues
Resource allocation
Microeconomics
resource utilization
macroeconomics
type
subsistence economy
Planned economy
market economy
mixed economy
economics research methods
Empirical and Normative Analysis
positive economics
What is the phenomenon?
normative economics
What should it be?
Individual and overall analysis
marginal incremental analysis
Endogenous variables and exogenous variables
Stock and flow
equilibrium analysis
partial equilibrium
general equilibrium
Dynamic and static state analysis
static analysis
comparative static analysis
Dynamic Analysis
economic model
rational person assumes
Correct understanding and treatment of Western economics
Macro
national income accounting
The concept of gross domestic product
The concept and meaning of gross domestic product
nGDP&rGDP Nominal and real GDP
Base period price and current price
Gross National Product Price Index (Conversion Index)
Inflation rate
Final products and intermediate products
Business Inventory as Inventory Investment
Gross National Product GNP
Limitations of the Gross Domestic Product Indicator
Green GDP
GDP accounting method
National income flow cycle model
The relationship between output and income
income method
The relationship between output and expenditure
expenditure method
The relationship between the five aggregate national income indicators
GDPGross National Product
NDP net national product
-depreciation
NI national income
- Indirect taxes and corporate transfer payments + government subsidies
PI personal income
-Enterprise retained profits, corporate income tax, social security tax + government transfer payments, interest and dividends
DPI personal disposable income
-Personal Income Tax
Identities in National Income
Savings-Investment Identity for Two Sectors
Three-Sector Savings-Investment Identity
Savings-Investment Identity of Four Sectors
Identity condition: income = expenditure
national income determination
income-expense model
Macroequilibrium
Theoretical assumptions
What does equilibrium output mean?
Equilibrium state: aggregate supply = aggregate demand
Conditions for equilibrium output: investment = savings
The 45 degree line where expenses equal income
Achieving National Income Balance through the Adjustment of Inventory Investment
Samuelson cross plot
Keynesian consumption theory
consumption function
Influencing factors
Average propensity to spend (APC)
Marginal propensity to consume (MPC)
The law of diminishing marginal propensity to consume
consumption curve
savings function
The anti-frugal argument, broken windows theory, holiday economy
Influencing factors
Average propensity to save APS
Marginal propensity to save (MPS)
savings curve
national income determination
Income-expenditure model of a two-sector economy
Income-expenditure model of three-sector economy
multiplication theory
Various multipliers
investment multiplier
government purchase expenditure multiplier
tax multiplier
fixed tax multiplier
marginal tax rate multiplier
government transfer multiplier
balanced budget multiplier
Income-expenditure model of four-sector economy
Economic significance and conditions of multipliers
IS-LM model
Product market equilibrium: IS curve
The concept and derivation of IS curve
Illustration of IS
The slope of the IS curve
product market imbalance
The movement of the IS curve and its influencing factors
The meaning of IS curve
Equilibrium in Money Markets: The LM Curve
The concept and derivation of LM curve
Illustration of IS curve
The slope of the LM curve
money market imbalances
Movement of LM curve and influencing factors
Three areas of the LM curve (P206 Figure 12-11)
The meaning of LM curve
IS-LM model
Equilibrium income and equilibrium interest rate
Imbalance and adjustment of the two markets
Eight types of imbalance states (P209 Figure 12-14)
The adjustment process of imbalance (P209 Figure 12-15)
Changes in equilibrium income and equilibrium interest rate (P209 Figure 12-16)
AD-AS model
Comparison of the three
Money, Interest Rates and National Income
money supply
currency
The evolution of money
functions of money
Currency calculation caliber
money supply in narrow sense
broad money supply
Banking system (P190 Figure 12-1)
commercial Bank
central bank
Other financial institutions
Deposit creation and money supply
reserves
statutory reserves
statutory reserve ratio
excess reserves
excess reserve ratio
cash to deposit ratio
base currency
money creation multiplier
money demand
money demand motive
trading motivation
prevention motive
investment motivation
Real money demand = nominal money demand/price level
demand function for money
Keynesian liquidity trap
money market equilibrium
Money market equilibrium and interest rate determination
Interest rates and investment needs
Interest rates and national income
The concept and division of financial markets
Inflation and unemployment
inflation problem
The concept and classification of inflation
Inflation rate
Classification
price index that measures inflation
CPI consumer price index
PPI producer price index
GDP Conversion Index
measures to prevent inflation
causes of inflation
demand-driven inflation
cost push inflation
hybrid inflation theory
economic effects of inflation
income redistribution effect
Fisher relationship: Nominal interest rate = real interest rate – expected inflation rate
cost of inflation
output effect
Unemployment problem
full employment and natural unemployment
Classification of unemployment
frictional unemployment
seasonal business
demand-deficient unemployment
cyclical unemployment
technological unemployment
structural unemployment
voluntary unemployment
The measurement and cost of unemployment
The relationship between inflation and unemployment
short run phillips curve
long run phillips curve
Additional expected Phillips curve
macroeconomic policy
Fiscal policy
Classification of fiscal policies
Expansion
compactness
automatic stabilizer
Tax + transfer payment
Practical constraints on fiscal policy
camera choice
policy time lag
Uncertainty about policy effects
crowding out effect
fiscal policy effects
Policy effects and crowding out effects
Pictured area
Influencing factors
IS curve and LM curve extreme cases
The relationship between fiscal policy and the IS curve
The relationship between fiscal policy and the LM curve
Limitations of fiscal policy
How does it work?
Functional Finance and Public Debt
Monetary Policy
The three major monetary policy tools of the central bank
Rediscount rate policy
open market business
Quantitative easing
deposit reserve ratio
monetary policy effects
The combination of monetary policy
Limitations of Monetary Policy
How does it work?
Mixed use of fiscal and monetary policy
What are the similarities and differences between the two policies?
Four policy effects of mixed use
Economic growth, economic development and economic cycle
Preliminary National Economics
microscopic
Commodity supply and demand and equilibrium price
supply and demand theory
Demand curve and demand law
subtopic
subtopic
supply curve and supply law
subtopic
subtopic
elasticity theory
elasticity of demand
Price Elasticity of DemandEd
Point elasticity and arc elasticity and their calculation
Types of price elasticity of demand
E>1 is elastic
Luxury goods and enjoyable services
0<E<1 lacks elasticity
Agricultural products, daily necessities
E=1 unit elasticity
E=∞ elasticity is infinite
E=0 is completely inelastic
Coffins, gunpowder, special effects medicine
Influencing factors
The relationship between price elasticity of demand and total revenue
Income elasticity of demand Em
Types of income elasticity of demand
E>0 normal product
E>1 Income is elastic
Luxury
E=1 income unit elasticity
0<E<1 Income is inelastic
necessity
E=0 income neutral goods
salt
E<0 inferior goods
Giffen Goods: The income elasticity of demand is negative and the price elasticity of demand is positive
Cross elasticity of demand Exy
Complements Exy<0
SubstituteExy>0
Supply elasticity Es
Types of elasticity of supply
E=0 is completely inelastic
Scarce commodities such as land and cultural relics
E=∞ elasticity is infinite
E=1 unit elasticity
0<E<1 lacks elasticity
E>1 is elastic
Influencing factors
equilibrium price theory
The impact of changes in supply and demand on equilibrium prices
excess supply
excess demand
application
support price
limit price
government taxes
Spider web model
consumer behavior theory
cardinal utility theory
Utility U, average utility AU and marginal utility MU
The law of diminishing marginal utility (P42 Figure 3-1)
ordinal utility theory
Indifference curve (P45 Figure 3-2)
indifference curve group
Characteristics of indifference curves
Inclined from upper left to lower right and convex towards the origin
Tangent slope: law of diminishing marginal rate of substitution MRSxy
special case
complete substitute goods
perfectly complementary goods
No two indifference curves on the same indifference curve graph can intersect.
Determination of indifference curve
Consumer income and commodity prices are given
Budget line (P47 Figure 3-3)
Constraints and Movements of the Budget Line
Determination of budget line
Consumer preferences are established
consumer equilibrium conditions
utility maximization
The relationship between the indifference curve and the consumer budget line (P48 Figure 3-7)
Intersect: less than maximum effectiveness
Tangency: Achieve maximum utility
The cut-off point is the product combination that satisfies the consumer's maximum utility when the income is certain.
equimarginal rule
Marginal utility ratio = price ratio
Detachment: Exceeding maximum utility
subtopic
Income changes and consumption demand (P50 Figure 3-8)
Income-Consumption Curve ICC
Engel curve EC
Engel coefficient
Engel's law
Price changes and consumer demand (P50 Figure 3-9)
Price-Consumption Curve PCC
Consumer demand curve D
income effect and substitution effect
Changes in demand caused by price changes are the result of the combined effects of the income effect and the substitution effect
intertemporal selection
Consumer behavior under uncertainty
enterprise
Business and its goals
production theory
Production Function
Determinants of the production function
fixed proportion production function
fixed substitution ratio production function
linear production function
fixed input ratio production function
Leontief production function
(Linear) Homogeneous Production Function
Cobb-Douglas production function
short run production function
Total product, average product, marginal product
The law of diminishing returns for production factors
Three prerequisites
three stages of production
Yield curve (P62 Figure 4-2)
long run production function
isoquant curve
firm indifference curve
isoquant curve group
Characteristics of the isoquant curve
Inclined from upper left to lower right and convex towards the origin
Tangent slope: marginal rate of technical substitution MRTS
No two isoquants on the same isoquant graph can intersect.
isocost line
corporate budget line
cost equation
Shift of isocost line
Producer equilibrium conditions: the optimal combination of production factors
profit maximization
Equilibrium when cost is given and output is maximum (maximum principle method)
Equilibrium when output is given and cost is minimized (minimum principle method)
changes in producer equilibrium
Factor price changes
yield effect
substitution effect
Cost (budget) changes
isoscline
Enterprise expansion line
returns to scale
returns to scale
Reasons for increasing returns to scale—intrinsic economies
Reasons for diminishing returns to scale - external economy
Understanding returns to scale, economies of scale, economies of scale, and economies of scope
cost theory
Costs and cost functions
Several cost concepts
Opportunity cost (economic cost)
Sunk costs
Explicit costs and implicit costs
cost function
cost function expression
The relationship between cost function and production function
short run cost function
Various short-term costs and their relationships
Graphing the short-run cost curve
subtopic
long run cost function
Derivation of long-run total cost, average cost, and marginal cost
The relationship between long-run total cost, average cost, and marginal cost
market
Maximize various income and profits
Several concepts of income
Total revenue TR, average revenue AR, marginal revenue MR
revenue function
Several concepts of profit
accounting profit
Economic profit (excess profit)
normal profit
Conditions for maximizing profits
Market structure types and comparisons
Comparison of the basic characteristics of the four markets and manufacturers (P78 Table 5-1)
Determination of price and output in a perfectly competitive market
short run equilibrium
five states
Manufacturer’s revenue curve and industry revenue curve
Firm demand curve and industry demand curve
Determination of equilibrium output
maximum profit output point
profit curve
Manufacturer's profit and loss
short run supply curve
long run equilibrium
long run equilibrium conditions
long run supply curve
Increasing cost industries
Constant cost industry
Decreasing cost industry
Determination of price and output in a perfect monopoly market
Demand curve, marginal revenue, elasticity of demand
Manufacturer's profit and loss
price discrimination
Determination of price and output in monopolistic competition markets
Characteristics of monopolistic competition market
Price and output decisions
short run equilibrium
long run equilibrium
Price and output determination in oligopolistic markets
Important theoretical models of oligopoly
Collusion
cartel
price leadership
independent action
output competition
Assuming that the output of competitors remains unchanged, the duopoly manufacturers make output decisions simultaneously (Cournot model)
It is assumed that the dominant manufacturer makes its output decision first, and the follower manufacturer makes its decision later (Stackelberg model)
price competition
Homogeneous product competition (Bertrandt model)
Differentiated product competition (Sweezy model)
Game theory and information economics
game theory
Basic elements of game theory
man in the game
strategy combination
income
one-shot game
Best policy equilibrium and Nash equilibrium
prisoner's dilemma
Repeated games and sequential games
Credibility of threats and promises
maximin strategy
Information Economics
principal-agent theory
adverse selection model
moral hazard model
information transfer model
Signal display and information screening model
Incentive compatibility and mechanism design
Factor Prices and Income Distribution
factor requirements
marginal productivity theory
Marginal revenue product MRP
Marginal Factor Cost MFC
Value Marginal Product (VMP)
Perfectly competitive firms use the factor of production principle
Imperfectly competitive firms use the factor of production principle
factor supply
Labor supply and the determination of equilibrium wages
Characteristics of the labor supply curve
Differences in wages and their causes
Capital supply and demand and the determination of interest rates
The concepts and understanding of various land rents
Equilibrium rent and differential rent
Quasi-ground rent and economic rent
profit decision
difference between rich and poor
Measuring the gap between rich and poor
Lorenz curve and base coefficient
causes of income inequality
equality and efficiency
Market efficiency and microeconomic policy
General equilibrium and welfare economics
Map format
font
One 32
Two 25
Three 19
Four 18
May 1st 16
Tags, relations 16
branch style
One 6
Two 5
Three 4
Four 3
font color
1. Same color dark - pure
2. Same color series: lighter - purer
Three same color series, light-light
subtopic