Thinking Like An Economist

 

 P  Pb bcknckm Dcne hk Ejlklacst Enlkla aeacdcnc ? perhk 9 8.  8.  Zeohmhc cdauhk 9 aekjloh uktun aekiedhsnhk `ukch ?. ?.   Zeohmhc pekhsebht `hdha pekmhaocd neputushk 9 aekjloh uktun aeaperohcnc Pbe Ejlklacst hs Zjcektcst

  Aeahkghhtnhk aetl`e cdachb, yhctu aekmuapudnhk `hth, aekmhkhdcsh, aeaouht telrc, `hk aekmuic telrc. Puiuhkkyh h`hdhb uktun aekiedhsnhk ohmhcahkh `ukch ctu oenerih   Zeohmhc selrhkm cdauhk, netcnh aekmeaohkmnhk telrc, selrhkm enlkla bhrus oerscght loientcg, yhkm oerhrtc bhkyh aekmmukhnhk hnhd `hk tc`hn aedcohtnhk perhshhk   @hdha aekmeaohkmnhk telrc, enlkla aeaouht hsuasc uktun aekye`erbhkhnhk rehdcths hmhr deocb au`hb `cphbhac   Uktun aekiedhsnhk telrc, enlkla aekmmukhnhk al`ed yhkm `ckyhthnhk `ekmhk pershahhk ahtea hteahtcnh htcnh `hk mrhgcn   Jlktlb al`ed 8 9 Jcrjudhr Gdlw @chmrha









  Vh`h jcrjudhr-gdlw `c hths ter`hpht `uh pedhnu enlklac, yhnkc ruahb thkmmh `hk perushbhhk  Per`hp r`hpht ht ? phs hshr hr `h `hdh dha a jcr jcrjjudh dhrr-gdl gdlw w, yhct yhctu u phs hshr hr ghn ghntl tlrr prl rl` `unsc (p (ph hshr l   Pe l

ckput) `hk phshr ohrhkm `hk ihsh (phshr lutput)

 

  Vhshr ghntlr prl`unsc aekiuhd ghntlr-ghntlr yhkm `coutubnhk ldeb perushbhhk `hdha oerprl`unsc, sepertc tekhmh nerih, thkhb, `hk al`hd. Vh`h phshr ckc, ruahb thkmmh oertck`hn seohmhc pekiuhd se`hkmnhk perushbhhk seohmhc peaoedc l  Vhshr ohrhkm `hk ihsh aekiuhd ohrhkm `hk ihsh yhkm `coutubnhk ruahb thkmmh. Vh`h phshr ckc, ruahb thkmmh oertck`hn seohmhc peaoedc se`hkmnhk perushbhhk seohmhc pekiuhd l  Hrus ohrhkm Jcrjudhr Gdlw @chmrha 9 _uahb thkmmh aeapukyhc ghntlr prl`unsc `hk aekiuhdkyh `c phshr ghntlr prl`unsc. Dhdu, ghntlr prl`unsc terseout `coedc ldeb perushbhhk `hk `cldhb aekih`c ohrhkm `hk ihsh. Neau`chk, ohrhkm `hk ihsh terseout `ciuhd ldeb perushbhhk ne ohrhkm `hk ihsh. Perhnbcr, ohrhkm `hk ihsh terseout `coedc ldeb ruahb thkmmh `hk scndus oerudhkm neaohdc `hrc hwhd.   Jlktlb al`ed ? 9 Vrl`ujtclk Vlsscocdctces Grlktcer (VVG) l

  VVG aeruphnhk nurvh yhkm aekmmhaohrnhk nlaockhsc lutput yhkm ocsh `cbhscdnhk perushbhhk `hrc suaoer `hyh `hk tenkldlmc yhkm terse`ch  Pctcn cn @ a ae ekukiun iunnhk nhk cke ckegc gcs sce cek ksc `hd hdh ha e en nlklac nh nhre rek kh su sua aoer `h `hyh yh yhk yhkm l   Pct terse`ch tc`hn `cmukhnhk sejhrh lptcahd  Pctcn cn `c sephkihk ihkm nurv rvh h VVG (tctc (tctcn n H, O, E, `hk G) aekukiu iun nnh nhk k egcsce gcscek ksc l   Pct `hdha enlklac l

 

   Pct  Pctcn cn J tc` tc`hn `h `hp pht `c `cjh jhp phc nhre hrekh h` h`hk hkyh yh ne nete terrohth ohths shk s su uaoer `hy hyh h `hk tenkldlmc yhkm terse`ch l  Vrckscp `hshr enlklac `c VVG 9 8. 8.   Hphocdh ncth ckmck aekhaohbnhk sesuhtu `hk aek`hphtnhk sesuhtu, ahnh ncth bhrus aekmlrohknhk yhkm dhck ?.  Lpplrtukcty Jlst 9 uktun aekhaohb 8 ukct ohrhkm, oerhph yhkm bhrus ncth ohyhr. Oektun `hrc VVG yhkm mhrcs durus aerepresekthscnhk ohbwh lpplrtukcty jlst ctu nlksthk   Zbcgtckm ck VVG l

tenkldlmc ph`h ck`ustry jlaputer aekyeohonhk terih`ckyh   Vekckmnhthk pekckmnhthk prl`unsc jlaputer sebckmmh nurvh VVG aekmhdhac sbcgtckm ne hths ph`h ohmchk scsc jlaputer (Hphocdh pekckmnhthk tenkldlmckyh ph`h ck`ustry jlaputer, ahnh yhkm oerthaohb bhkyh jlaputer shih) l  Vekckmnhthk tenkldlmc tc`hn bhkyh aekckmnhtnhk iuadhb prl`unsc jlaputer, tethpc iumh aekckmnhtnhk iuadhb prl`unsc alocd yhkm `ctukiunnhk `ekmhk perpck`hbhk yhkm terih`c `hrc tctcn H ne M l

Xucjn Xucz Ahkncw 8.  Hk ejlklacj al`ed cs h scapdcgce` represekthtclk lg slae hspejt lg tbe ejlklau  ?.  Pbe jcrjudhr-gdlw `chmrha `chmrha cddustrhtes tbht ck ahrnets ahrnets glr tbe ghjtlrs lg prl`ujtclk prl`ujtclk blusebld` hre sedders hk` gcras hre ouyers 

 

:.  H plckt cksc`e tbe prl`ujtclk plsscocdctces grlktcer cs gehscode out klt eggcjcekt  0.  Hdd lg tbe glddlwckm tlpcjs ghdd wctbck tbe stu`y lg acjrlejlklacjs    Pb  Pbe ca cap phjt lg jcmhr cmhre ette tte thxe thxes s lk tbe tbe salnckm ckm oebhv hvcl clrr lg tee teekhm hme ers     Pb  Pbe rl rlde de lg Acjr cjrlslgt–s gt–s ahrn rne et plwer ck tbe tbe prc rcj jck ckm m lg slgt gtw whre     Pb  Pbe egge ggejt jtcv cve ekess lg hktcpl tcplverty rty prlmrha rhas ck re` re`ujc jck km blaedes desskess  Pbe Ejlklacst hs Vldcjy H`vcser

  Hkhdcscs enlkl enlkla ac pls plsctc ctcgg 9 Oerscght `esnrcptcg yhkm oerhrtc hkhdcscs enlklac oer`hshrnhk ph`h ghnth `hk sctuhsc yhkm terih`c, thkph aeapertcaohkmnhk klrah hthu kcdhc   Hkhdcscs enlklac klrahtcg 9 Oerscght presnrcptcg yhkm oerhrtc hkhdcscs enlklac oer`hshrnhk ph`h hph yhkm sebhruskyh `cdhnunhk hmhr aekih`c neohcnhk `hk neseihbterhhk ohmc ahsyhrhnht duhs, aeapertcaohkmnhk klrah hthu kcdhc, ochshkyh `cthk`hc `ekmhk nhth-nhth seohcnkyh hthu sebhruskyh   Aekmhph lpckc enlkla `hpht oertekthkmhk<







Nhrekh hphocdh enlkla oerocjhrh aekmekhc kcdhc klrahtcg, ahnh setchp lrhkm aeacdcnc neyhnckhk yhkm oeroe`h. Ldeb nhrekh ctu, lpckckyh `hpht shdckm oertekthkmhk. Hnhk tethpc, hphocdh oerocjhrh aekmekhc telrc, ahnh enlkla hnhk shdckm sephnht shtu shah dhck Xucjn Xucz Ahkncw 8.  ]bcjb lg tbe glddlwckm glddlwckm cs h plsctcve plsctcve rhtber tbhk h klrahtc klrahtcve ve sthtea sthteaekt< ekt< Dhw R wcdd re`uje khtclkhd ckjlae  ?.  Pbe glddlwckm phrts lg mlverkaekt remudhrdy redy lk tbe h`vcje lg ejlklacsts  

@ephrtaekt lg Prehsury   Lggcje lg Ahkhmeaekt hk` Ou`met   @ephrtaekt lg Iustcje ]by Ejlklacsts @cshmree

  Aekmhph enlkla serckm aeaoercnhk pek`hpht yhkm oertekthkmhk `ekmhk peaouht neocihnhk< H`h ? hdhshk `hshr 9   Enlkla aukmnck tc`hn setuiu tekthkm vhdc`cths telrc plsctcg hdterkhtcve tekthkm ohmhcahkh `ukch oenerih   Enlkla aukmnck aeacdcnc kcdhc yhkm oeroe`h `ekmhk peaerckthb aekmekhc kcdhc klrahtcve, yhctu hph yhkm sebhruskyh `cjhphc ldeb neocihnhk peaerckthb



Xucjn Xucz Ahkncw 8.  Ejlklacsts ahy `cshmree oejhuse tbey bhve `cggerekt

 

 

Bukjbes holut tbe vhdc`cty lg hdterkhtcve tbelrces   Iu`maekts holut tbe scze lg ney phrhaeters   Vldctcjhd pbcdlslpbces holut tbe mlhds lg puodcj pldcjy ?.  Alst ejlklacsts oedceve tbht thrcggs hre h pllr why tl rhcse mekerhd ejlklacj wedd-oeckm  Nerhkmnh @hshr Acnrlenlklac

  Aenhkcsae phshr h`hdhb jhrh terohcn uktun aekmlrmhkcscr perenlklachk   @eahk` `hk suppdy oerteau `c phshr `hk aekmbhscdnhk bhrmh    Pe  Pelrc pe pedh dhnu nu nl nlk ksuaek h` h`h hdhb dhb nlksuaek aeahns nsca cahd hdn nhk nepuhs hshk hk `ekmhk ou`met    Pe  Pelrc pe pedh dhnu nu prl rl`u `us sek h`hdh hdhb aeahns nsca cahd hdn nhk neuktuk tukmhk   Hphocdh hdlnhsc egcscek tc`hn `cpekubc, ahnh hdlnhsc phshr aekih`c ckegcscek





 