Summary - Microeconomic
Summary - Microeconomic
• Vấn đề kinh tế (khan hiếm)? Các chủ thể trong nền kinh tế, loại thị trường, câu hỏi trong nền kinh tế?
    (Economic problem? Scarcity? Economic agents, types of markets, three basic questions?)
+ Scarcity : The condition in which our wants are greater than the resource available to satisfy those wants.
+ Economic agents : Goverment , Firm , Household / Individual .
+ Types of market : Markets for goods and services
                     Markets for factors of productions
                     Financial markets
+ Three basic questions : What to produce ?
                           How to produce ?
                          Whom to produce ?
• Kinh tế học? (Economics?)
-   Economics : is a social science discipline that helps people understand how the economy works in
    general and how each employer can participate in the economy in particular.
• Kinh tế vĩ mô? Ví dụ? (Macroeconomics?)
-   Macroeconomics : is a sub-discipline of economics that studies the characteristics, structure, and
    behavior of an economy as a whole.
- Example:
Example :
• Kinh tế vi mô? Ví dụ? (Microeconomics?)
- Microeconomics: is the study of how buyers and sellers make decisions and how they interact in market.
- Example:
• Kinh tế học chuẩn tắc, kinh tế học thực chứng? (Positive economics, normative economics?)
-   Normative analysis (Kinh tế học chuẩn tắc):
+ Opinion-based analysis, the analysis of “What should be”.
+ Involves personal judgements or ideals.
+ Normative statement cannot be proven or disproven.
- Positive analysis ( Kinh tế học thực chứng)
+ Factual analysis, the analysis of “What is”.
+ There are no personal judgements involved.
+ Positive statement can be tested, can be proven or disproven.
• 3 cơ chế kinh tế? Thuyết “bàn tay vô hình” của Adam Smith (Three economic systems? Adam
  Smith’s Invisible Hand?)
 Three economic systems
- Command economy (Nền kinh tế chỉ huy)
+ The government (or central authority) determines what, how, and for whom goods and services are
  produced.
+ Also known as Planned Economy.
- Market economy (Nền kinh tế thị trường)
+ Businesses and consumers decide what they will produce and purchase and in what quantities.
+ Decisions are made according to law of supply and demand.
+ Supply and demand of goods and services determine what is produced and the price that will be charged.
+ Also called Free Market Economy.
- Mixed economy (Nền kinh tế hỗn hợp)
+ Combination of a market and a command economy.
+ Government takes care of people’s needs. Government regulates certain industries.
+ Marketplace takes care of people’s wants.
+ Most nations have a mixed economy.
 Adam Smith’s Invisible Hand
- Famous insight by Adam Smith in The Wealth of Nations (1776): Each of these households and firms acts
  as if “led by an invisible hand” to promote general economic well-being.
- The invisible hand works through the price system:
+ The interaction of buyers and sellers determines prices.
+ Each price reflects the good’s value to buyers and the cost of producing the good.
+ Price guide self-interested households and firms to make decisions that, in many cases, maximize society’s
  economic well-being.
 • Mô hình kinh tế? Trình bày các thành phần của mô hình? (Economic model? Components of an
    economic model?)
- Economic Model: a simplified version of reality that allow us to observe, understand, and make
 predictions about economic behaviors.
  - Components of an economic model:
  + Theory
  + Assumption
  + Equation
  + Data
  • Tại sao các nhà kinh tế thường mâu thuẫn khi tranh luận? (Why do economists disagree?)
  - They may have different opinions and value judgements, therefore, different normative views about what
   policy should try to accomplish different assumption.
  • Khi nào nhà kinh tế là nhà khoa học, khi nào là nhà làm chính sách? (When do economists play the
   role as scientists? As policy advisors?)
  - Scientists: try to explain the world.
  - Policy advisors: try to improve it.
  • 10 nguyên lý kinh tế? Lấy ví dụ cụ thể? (What are ten principles of Economics?)
  - Principle 1: People Face Trade-offs
  + Example: “There ain’t no such thing as a free lunch.”
  - Principle 2: The Cost of Something Is What You Give Up to Get It
  + Example: Giving up going out with your friends so that you can learn for your exam.
  - Principle 3: Rational People Think at the Margin
  Example: When you choose prepare for the tomorrow text , the problem now is which you should prefer :
   Studying for 1 hour more or stop to play video games.
  - Principle 4: People Respond to Incentives
  + Example: When the price of apples rises, people decide to eat fewer apples.
  - Principle 5: Trade Can Make People Better Off
  + Example: Trade allows countries to specialize in what they do best and to enjoy a greater variety of goods
   and services.
  - Principle 6: Markets Are Usually a Good Way to Organize Economic Activity
  + Example: Smith’s great insight was that prices adjust to guide these individual buyers and sellers to reach
   outcomes that, in many cases, maximize the well-being of society as a whole.
  - Principle 7: Governments Can Sometimes Improve Market Outcomes.
+ Example: The world’s best basketball player earns more than the world’s best chess player because people
   are willing to pay more to watch basketball than chess. This inequality may call for government
    intervention. In practice, many public policies aim to achieve a more equal distribution of economic well-
    being.
-   Principle 8: A Country’s Standard of Living Depends on Its Ability to Produce Goods and Services
+ Example: In 2011, the average American had an income of about $48,000. In the same year, the average
    Mexican earned about $9,000. Not surprisingly, this large variation in average income is reflected in
    various measures of quality of life. Citizens of high-income countries have more TV sets, more cars, better
    nutrition, better healthcare, and a longer life expectancy than citizens of low-income countries.
-   Principle 9: Prices Rise When the Government Prints Too Much Money
+ Example: You can buy 2 books with $5 in 2010, but you will pay $7 for 2 books in 2020.
-   Principle 10: Society Faces a Short-Run Trade-off between Inflation and Unemployment
+ Example: Loosing monetary policy: increase money supply by decrease lower interest rates -> cost of
    borrowing money decreases -> increase spending -> increase demand -> increase production -> decrease
    unemployment, increase inflation
    Demand schedule: a table that shows the              Supply schedule: a table that shows the
      relationship between the price of a good           relationship between the price of a good
      and the quantity demanded.                         and the quantity supply.
-     Cầu cá nhân và cầu thị trường                  -   Cung cá nhân và cung thị trường
      (Individual demand vs market demand)               (Individual supply vs market supply)
      + Individual demand refers to the demand            + Individual supply refers to the
      for a good or a service by an individual (or        supply for a good or a service by an
      a household).                                       individual (or a household).
      + Market demand is the sum of the two               + Market supply is the sum of the two
      individual demands.                                 individual supply.
-     Phân biệt lượng cầu vs cầu (Quantity           -   Phân biệt lượng cung vs cung
      demanded vs Demand)                                (Quantity supplied vs Supply)
      + Demand (D): The amount of a good or              + Supply (S): The quantity of goods and
      service that buyers are willing to buy and         services is willing to sell and able to sell
      able to buy at all possible prices during a        at all possible prices during a certain time
      certain time period, ceteris paribus.              period, ceteris paribus.
      + Quantity demanded (QD): The amount               + Quantity supplied (Qs): The quantity
      of a good or service that buyers are willing       of goods and services that seller is
      to buy and able to buy at a price during a         willing to sell and able to sell at a price
      certain time period, ceteris paribus.              during a certain time period, ceteris
        Di chuyển trên đường cầu                        paribus.
           (Movement along demand curve)                 o Di chuyển trên đường cung
      Price changes -> Change in the quantity            (Movement along supply curve)
      demanded                                           Price changed -> Change in the quantity
      P increases -> QD decreases                        supplied
      P decreases -> QD increases                        P increases -> Qs increases
      o Dịch chuyển đường cầu (Shift in                  P decreases -> Qs decreases
      demand curve)                                      o Dịch chuyển đường cung (Shift in
      - A non-price determinant of demand                supply curve)
      changes -> change in demand = change in              -   Any determinant of supply changes
prices (a shift in the D Curve to the right or         goods or services that the sellers
the left)                                              want to produce will make change
+ D curve shifts right: Demand increases.              in supply.
+ D curve shifts left: Demand decreases.               + S curve shifts right: increase in S
o Các yếu tố tác động đến cầu ngoài giá                + S curve shifts left: decrease in S
(Non-price determinants of demand)               o Các yếu tố tác động đến cung ngoài
Income (I):                                      giá (Non-price determinants of supply)
I ↑ → QD↑                                          -   Input prices
I ↓ → QD↓                                            + Pi increases -> Cost increases ->
I ↓ → QD↑                                            Profit decreases -> QS decreases at
                                                     all prices
I ↑ → QD↓
                                                  S curve shifts left
                                                     + Pi decreases -> Cost decreases ->
Tastes (J): Change in tastes: changes the            Profit increases -> QS increases at
demand                                               all prices
                                                  S curve shifts right
Expectations (E): about the future
                                                  - Technology
 - Expect an increase in income
                                                       + Improvement in technology -> C
     + Lead to an increase in today’s
                                                       decreases -> profit increases -> QS
     demand
                                                       increases at all prices
 - Expect higher prices                           S curve shifts right
     + Lead to an increase in today’s              -   Expectations of sellers (ES)
     demand
                                                       + Expectations of future prices
 Number of buyers (N): Market demand
                                                       + Prices are expected to rise in the
 increases
                                                       future -> producers store much of
 Price of related goods:
                                                       their current production to take
 - Substitutes (hàng hóa thay thế), two                advantage of higher future price
     goods                                        Current supply decreases
     + An increase in the price of one             -   Number of sellers (NS)
     + Leads to an increase in the demand
                                                       + More producers -> market supply
     for the other
                                                       increases
 - Complements (hàng hóa bổ sung),
                                                   -   Government’s policies
    two goods                                         + Tax -> C increases -> Profit
    + An increase in the price of one                 decreases -> QS decreases
    + Lead to a decrease in the demand           S curve shifts left
    for the other                                     + Subsidies -> C decreases ->
                                                      Profit increases -> QS increases
                                                 S curve shifts right
Ed <1 Ed >1
Necessities Luxuries
       A small portion of your income you give     A large portion of your income you give
       up to buy something                         up to buy something
       In the short run, people don’t have         In the long run, time allows people to find
       enough time to find substitutes             substitutes
    P                                        P
                    |E    D   |>1                       |ED| < 1
                                                    B
              B
                          A                             A
                                    (D)
                                                            (D)
                                Q                                  Q
               (D)                                                          (D)
                           Q             (D)          Q                           Q
             e. Hai trường hợp đặc biệt của Ed (Two extreme cases of Ed)
 “Perfectly inelastic demand” (One extreme case)
-   Price elasticity of demand = % change in Q / % change in P = 0
-   D curve: Vertical
-   Consumers’ price sensitivity: None
-   Elasticity: 0
 “Perfectly elastic demand” (The other extreme)
-   Price elasticity of demand = % change in Q / % change in P = infinity
-   D curve: horizontal
-   Consumers’ price sensitivity: extreme
-   Elasticity: infinity
    6. Độ co giãn của cầu theo thu nhập (Income elasticity of demand)
             a. Khái niệm
-   How much the quantity demanded of a good responds to a change in consumers’ income.
             b. Công thức
-   Ei = %ΔQd / %ΔI = (ΔQ/ΔI) x (I/Q)
                   c. Phân loại
+ Ei > 1: Luxury
Q Q
                       ES = 0                        ES = 1                    ES = ∞
                                                              (S)
                      B
                      A                                B                        B       (S)
                                                                           A
                                                 A
                                      (S)
    9. Gánh nặng thuế:
               P                                                        (S2)
                                               (S2)           P                 (S1)
              p1                                             P1
                                               (S1)          P0
              p0
              p2                                                                       (D)
                                         (D)                 P2
                            Q1 Q0              Q                        Q1      Q0       Q
          - Khi cầu co giãn ít hơn so với cung thì người - Khi cầu co giãn nhiều hơn so với cung thì
          mua sẽ gánh chịu phần lớn khoản thuế.          người bán sẽ gánh chịu phần lớn khoản thuế.
               P         (D)                           P                       (S)
                                               (S2)
              p1
                                                              P0
                                  Thuế         (S1)                     Thuế
                                                              P1
              p0
                                                                                             (D)
                             Q0                Q                         Q1      Q0      Q
          - Khi cầu hoàn toàn không co giãn, người tiêu - Khi cung hoàn toàn không co giãn, người bán
          dùng chịu toàn bộ thuế.                       chịu toàn bộ thuế.
            Market: a place where buyers and sellers come into direct or indirect contact to exchange, buy
               and sell goods and services.
            Consumer surplus (CS): the difference between what consumers are willing to pay and what
               they actually pay.
Consumer surplus can be found in the area above the price and below the demand curve.Consumer surplus
can be calculated using the formula for the area of a triangle.
   Producer surplus (PS): the difference between the price received and the seller’s cost.
Producer surplus can be found in the area below the price and above the supply curve.Producer surplus can
be calculated using the formula for the area of a triangle.
Thuế của chính phủ: ảnh hưởng đến CS và PS; doanh thu thuế của chính phủ và phần tổn thất vô
ích của xã hội; người tiêu dùng chịu thuế; nhà sản xuất chịu thuế. (Tax levied on buyers/sellers: CS,
PS, tax revenue of government, deadweight loss; the amount of tax that buyers have to pay, the
amount of tax that sellers have to pay)
When supply is more elastic than demand, consumers will pay more tax than producers and vice versa.
    When there is a tax, a portion of the consumer and producer surplus goes to government tax revenue
    and the deadweight loss.
Chương 13: Chi phí sản xuất
Các loại chi phí và lợi nhuận:
- Chi phí kinh tế của việc sản xuất một HH là giá trị cao nhất của tất cả các nguồn lực được sử
dụng để sản xuất ra HH đó. - CP kinh tế gồm CP kế toán và CP ẩn
- CP kế toán là CP được trả trực tiếp - CP ẩn là CP phát sinh khi một DN sử dụng nguồn lực
bằng tiền để mua các yếu tố sản xuất, do chính người chủ DN sở hữu. CP này không tạo ra
được ghi vào sổ sách kế toán.         một giao dịch thanh toán bằng tiền mặt.
- Môn kế toán: chỉ quan tâm đến CP      - Môn Kinh tế học: quan tâm cả CP kế toán và CP ẩn
kế toán
- CP kế toán còn được gọi là chi phí    - CP ẩn còn được gọi là chi phí cơ hội
biểu hiện
   Chi phí sản xuất trong ngắn hạn:
* chi phí cố định: Là các khoản chi KẾ TOÁN KINH TẾ HỌC phí không thay đổi khi sản
lượng
thay đổi.D - Ký hiệu:O                                             Lợi nhuận
                      A                                             kinh tế
+ Chi phí cố định: FC                      Lợi nhuận kế
                             HN            toán                 Chi phí ẩn
+ Tổng chi phí cố định: TFC
Đánh thuế không theo sản               Không tác động: Giá và Thu được thuế bằng số
lượng (thuế khoán)          LN giảm đi sản lượng không đổi    LN giảm đi của DNĐQ
                                       Bị thiệt: Giá cao hơn và
Đánh thuế theo sản lượng    LN giảm đi sản lượng gỉam đi        Thu được thuế