Kinh tế vi mô FTU - Lecture 1

Lecture 1 Chapter 1 Introductory Motivation Understand…analyze…visualize What is the economics, and microeconomics (in the link with macroeconomics and other economic subjects) How do firms/consumers/governments make choice and interact with each other in the economy Do firms behave differently in markets, such as maket of cars, vegetables... and ice-cream? Content 1.1. Microeconomics 1.1.1. Definition of Economics 1.1.2. Subjects and research methods of Microeconomics 1.1.3. Some basic concepts 1.2. The basic economic problems 1.3. Optimal economic choices 1.3.1. The nature of economic choices 1.3.2. Objectives of economic choices 1.3.3. Methods of economic choices 1.3.4. Production possibility frontier 1.1. Microeconomics 1.1.1. Definition of Economics 1.1. Microeconomics 1.1.1. Definition of Economics The word economy comes from a Greek word for “one who manages a household.” Tề gia trị quốc bình thiên hạ Economics Economics is the study of how society manages its scarce resources. Scarcity . . . means that society has limited resources and therefore cannot produce all the goods and services people wish to have. Society and Scarce Resources: • • The management of society’s resources is important because resources are scarce. Scarcity implies choice and choice implies cost.