SEU The Bureau of Labor Statistics and The Unemployment Rate Analysis

Description


N. Gregory Mankiw
Principles of
Macroeconomics
Sixth Edition
1
Ten Principles of
Economics
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password -protected website for classroom use.
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Slides by
Ron Cronovich
In this chapter,
look for the answers to these questions:
• What kinds of questions does economics
address?
• What are the principles of how people make
decisions?
• What are the principles of how people interact?
• What are the principles of how the economy as
a whole works?
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password -protected website for classroom use.
What Economics Is All About
▪ Scarcity: the limited nature of society’s resources

‫ الطبيعة المحدودة لموارد المجتمع‬:‫الندرة‬

Economics: the study of how society manages its scarce resources, e.g.
▪ how people decide what to buy,
how much to work, save, and spend
▪ how firms decide how much to produce,
how many workers to hire
▪ how society decides how to divide its resources between national
defense, consumer goods, protecting the environment, and other needs
▪ ، ‫ على سبيل المثال‬، ‫ دراسة كيفية إدارة المجتمع للموارده النادرة‬:‫االقتصاد‬
▪ ‫ واإلنفاق‬،‫ واالدخار‬، ‫ وكم مدة العمل‬، ‫كيف يقرر الناس ما يشترونه‬
▪ ‫ وكم عدد العمال للتوظيف‬،‫كيف تقرر الشركات كمية االنتاج‬
▪ ‫كيف يقرر المجتمع كيفية تقسيم موارده بين الدفاع الوطني والسلع االستهالكية وحماية البيئة وغيرها‬
‫من االحتياجات‬
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The principles of
HOW PEOPLE
MAKE DECISIONS
‫مبادئ كيف يتخذ‬
‫الناس القرارات‬
PRINCIPLE #1:
People Face Tradeoffs ‫يواجه الناس المبادالت التجاريه‬
All decisions involve tradeoffs. Examples:

Going to a party the night before your midterm leaves less time for studying.

Having more money to buy stuff requires working longer hours, which
leaves less time
for leisure.

Protecting the environment requires resources
that could otherwise be used to produce
consumer goods.



:‫ أمثلة‬.‫جميع القرارات تنطوي على المبادالت‬
.‫الذهاب إلى حفلة في الليلة التي تسبق فترة منتصف مدة دراستك‬
.‫ مما يترك وقتًا أقل لقضاء وقت الفراغ‬، ‫يتطلب الحصول على المزيد من المال لشراء المواد ساعات أطول‬

.‫تتطلب حماية البيئة موارد يمكن استخدامها إلنتاج سلع استهالكية‬
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PRINCIPLE #1:
People Face Tradeoffs
▪ Society faces an important tradeoff :
▪ ‫المجتمع يواجه مبادله تجاريه مهمة‬
efficiency vs. equality

Efficiency: when society gets the most from its scarce resources

Equality: when prosperity is distributed uniformly among society’s
members

Tradeoff: To achieve greater equality,
could redistribute income from wealthy to poor.
But this reduces incentive to work and produce, shrinks the size of the
economic “pie.”



‫ عندما يستفيد المجتمع أكثر من موارده الشحيحة‬:‫الكفاءة‬
‫ عندما يتم توزيع الرخاء بشكل موحد بين أعضاء المجتمع‬:‫المساواة‬
‫ لكن هذا يقلل من الحافز‬.‫ يمكن إعادة توزيع الدخل من األثرياء إلى الفقراء‬، ‫ لتحقيق قدر أكبر من المساواة‬:‫المقايضة‬
.‫ ويقلص حجم “الكعكة” االقتصادية‬، ‫للعمل واإلنتاج‬
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PRINCIPLE #2:
The Cost of Something Is What You Give Up to Get It
‫تكلفة شيء ما ما يمكنك التخلي عنه‬
▪ Making decisions requires comparing the costs and benefits of
alternative choices.
▪ ‫مهم‬The opportunity cost of any item is whatever must be given up
to obtain it.
▪ It is the relevant cost for decision making.
▪ .‫يتطلب اتخاذ القرارات مقارنة تكاليف وفوائد الخيارات البديلة‬
▪ .‫تكلفة الفرصة البديلة ألي عنصر هي ما يجب التخلي عنه عليه للحصول عليه‬
▪ ‫إنها التكلفة ذات الصلة التخاذ القرار‬
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PRINCIPLE #2:
The Cost of Something Is
What You Give Up to Get It
Examples:
The opportunity cost of…
…going to college for a year is not just the tuition, books, and fees, but also
the foregone wages.
…seeing a movie is not just the price of the ticket,
but the value of the time you spend in the theater .
… ‫تكلفة الفرصة البديلة‬
‫ ولكن أيضا األجور‬، ‫ والرسوم‬، ‫ والكتب‬، ‫ الذهاب إلى الكلية لمدة عام ليس فقط الرسوم الدراسية‬…
.‫الضائعة‬
‫ بل قيمة الوقت الذي تقضيه في المسرح‬، ‫ رؤية فيلم ليس مجرد سعر التذكرة‬…
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PRINCIPLE #3:
Rational People Think at the Margin
‫العقالء يفكرون في الهامش‬
Rational people
▪ systematically and purposefully do the best they can to
achieve their objectives.
▪ make decisions by evaluating costs and benefits of
marginal changes, incremental adjustments to an
existing plan.
▪ ‫شخاص عقالنيين‬
▪ .‫بشكل منهجي وعادل القيام بأفضل ما في وسعهم لتحقيق أهدافهم‬

‫ والتعديالت‬، ‫اتخاذ القرارات من خالل تقييم تكاليف وفوائد التغييرات الهامشية‬
.‫اإلضافية لخطة موجودة‬
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PRINCIPLE #3:
Rational People Think at the Margin
Examples:
▪ When a student considers whether to go to college for an additional
year, he compares the fees & foregone wages to the extra income
he could earn with the extra year of education.
▪ When a manager considers whether to increase output, she
compares the cost of the needed labor and materials to the extra
revenue.
▪ :‫أمثلة‬

‫ فإنه يقارن الرسوم واألجور‬، ‫عندما يدرس الطالب ما إذا كان سيذهب إلى الكلية لمدة عام إضافي‬
.‫الضائعة بالدخل اإلضافي الذي يمكن أن يكسبه مع السنة اإلضافية للتعليم‬

‫ فإنها تقارن تكلفة العمالة والمواد المطلوبة‬، ‫عندما يدرس المدير ما إذا كان سيتم زيادة اإلنتاج‬
.‫باإليرادات اإلضافية‬
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PRINCIPLE #4:
People Respond to Incentives ‫الناس يستجيبون‬
‫للحوافز‬
▪ Incentive: something that induces a person to act, i.e.
the prospect of a reward or punishment .
▪ ‫ أي احتمال المكافأة أو العقوبة‬، ‫ شيء يحرض الشخص على التصرف‬:‫الحافز‬

Rational people respond to incentives.
Examples:

When gas prices rise, consumers buy more hybrid cars and fewer gas guzzling
SUVs.

When cigarette taxes increase,
teen smoking falls.

.‫يستجيب العقالنيون للحوافز‬


:‫أمثلة‬
‫ يشتري المستهلكون المزيد من السيارات الهجينة وعدد أقل من سيارات الدفع الرباعي‬، ‫عندما ترتفع أسعار الغاز‬
.‫التي تستهلك كميات كبيرة من الغاز‬

.‫ ينخفض التدخين في سن المراهقة‬، ‫عندما تزيد الضرائب على السجائر‬
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permitted in a license distributed with a certain product or service or otherwise on a password -protected website for classroom use.
ACTIVE LEARNING
1
Applying the principles
You are selling your 1996 Mustang. You have already spent $1000 on repairs.
At the last minute, the transmission dies. You can pay $600 to have it repaired, or sell the
car “as is.”
In each of the following scenarios, should you have the transmission repaired? Explain.
.‫ دوالر على اإلصالحات‬1000 ‫ لقد أنفقت بالفعل‬. 1996 ‫انت بعت موستانج الخاص بك عام‬
.”‫ أو بيع السيارة “كما هي‬، ‫ دوالر إلصالحها‬600 ‫ يمكنك دفع‬.‫ يتعطل اإلرسال‬، ‫في الدقيقة األخيرة‬
.‫ هل يجب أن يتم إصالح ناقل الحركة؟ اشرح‬، ‫في كل من السيناريوهات التالية‬
A.
Blue book value (what you could get for the car) is $6500 if transmission works,
$5700 if it doesn’t
B.
Blue book value is $6000 if transmission works,
$5500 if it doesn’t
‫ دوالر إذا لم‬5700 ، ‫ دوالر إذا كان الناقل يعمل‬6500 ‫ القيمة الدفترية الزرقاء (ما يمكن أن تحصل عليه للسيارة) هي‬.‫أ‬
‫يكن كذلك‬
‫ دوالر أمريكي إذا لم يكن كذلك‬5500 ، ‫ دوالر إذا كان اإلرسال يعمل‬6000 ‫قيمة الكتاب األزرق هي‬
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ACTIVE LEARNING
Answers
1
Cost of fixing transmission = $600
A.
Blue book value is $6500 if transmission works,
$5700 if it doesn’t
Benefit of fixing the transmission = $800
($6500 – 5700).
It’s worthwhile to have the transmission fixed.
‫ دوالر‬600 = ‫تكلفة تثبيت الناقل‬
‫ دوالر إذا لم يكن يعمل‬5700 ، ‫ دوالر إذا كان يعمل اإلرسال‬6500 ‫قاليمة الدفترية الزرقاء هي‬
.)‫ دوالر‬5700 – 6500( ‫ دوالر‬800 =‫فائدة ثبات الناقل‬
.‫من الجدير بنا أن يكون النقل ثابتًا‬
B.
Blue book value is $6000 if transmission works,
$5500 if it doesn’t
Benefit of fixing the transmission is only $500.
Paying $600 to fix transmission is not worthwhile
.
‫ دوالر إذا لم يكن يعمل‬5500 ، ‫ دوالر إذا كان الناقل يعمل‬6000 ‫القيمة الدفترية الزرقاء هي‬
.‫ دوالر فقط‬500 ‫تبلغ فائدة إصالح اإلرسال‬
‫ دوالر إلصالح الناقل ليست جديرة باالهتمام‬600 ‫دفع‬
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ACTIVE LEARNING
1
Observations
▪ The $1000 you previously spent on repairs is irrelevant.
What matters is the cost and benefit
of the marginal repair (the transmission).
▪ The change in incentives from scenario A
to scenario B caused your decision to change.
▪ .‫ دوالر الذي أنفقته سابقًا على اإلصالحات غير ذي صلة‬1000 ‫مبلغ‬
.)‫ما يهم هو التكلفة واالستفادة من اإلصالح الهامشي (اإلرسال‬
▪ ‫تسبب التغيير في الحوافز من السيناريو أ إلى السيناريو ب في تغيير‬
‫قرارك‬
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except
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The principles of
HOW PEOPLE
INTERACT
‫مبادئ كيف تتفاعل‬
‫الناس‬
PRINCIPLE #5:
Trade Can Make Everyone Better Off
‫التجارة يمكن أن تجعل الجميع أفضل حاال‬
▪ Rather than being self-sufficient,
people can specialize in producing one good or service
and exchange it for other goods.



‫ يمكن للناس أن يتخصصوا في إنتاج سلعة أو خدمة واحدة ويتبادلونها‬، ‫وبدالً من االكتفاء الذاتي‬
.‫من أجل سلع أخرى‬
Countries also benefit from trade and specialization:
▪ Get a better price abroad for goods they produce
▪ Buy other goods more cheaply from abroad than could be produced at
home
▪ :‫ضا من التجارة والتخصص‬
ً ‫تستفيد البلدان أي‬
▪ ‫الحصول على سعر أفضل في الخارج للبضائع التي تنتجها‬
▪ ‫شراء السلع األخرى بسعر أرخص من الخارج مما يمكن إنتاجه في المنزل‬
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PRINCIPLE #6:
Markets Are Usually A Good Way to Organize Economic Activity
‫األسواق عادة ما تكون وسيلة جيدة لتنظيم النشاط االقتصادي‬
▪ Market: a group of buyers and sellers (need not be in a
single location)
▪ )‫ مجموعة من المشترين والبائعين ( ال يجب أن يكونوا في مكان واحد‬:‫السوق‬
▪ “Organize economic activity” means determining
▪ what goods to produce
▪ how to produce them
▪ how much of each to produce
▪ who gets them
▪ ‫تنظيم النشاط االقتصادي “يعني تحديد‬
▪ ‫ما هي السلع التي ننتجها‬
▪ ‫كيفية إنتاجها‬
▪ ‫كم عدد كل واحد النتاجه‬
▪ ‫من يحصل عليهم‬
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PRINCIPLE #6:
Markets Are Usually A Good Way to Organize Economic Activity
▪ A market economy allocates resources through the decentralized
decisions of many households and firms as they interact in markets .

‫يخصص اقتصاد السوق الموارد من خالل القرارات الالمركزية للعديد من األسر والشركات عندما تتفاعل‬
‫في األسواق‬
▪ 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.
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PRINCIPLE #6:
Markets Are Usually A Good Way to Organize
Economic Activity

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.
▪ Prices guide self-interested households and firms to make decisions
that, in many cases, maximize society’s economic well-being.
▪ :‫تعمل اليد الخفية من خالل نظام األسعار‬

‫تفاعل البائعين والمشترين يحدد األسعار‬
▪ .‫يعكس كل سعر قيمة السلعة بالنسبة للمشترين وتكلفة إنتاج السلعة‬

‫وتوجه األسعار باألسر والشركات المهتمة ذاتيا التخاذ قرارات تزيد في كثير من الحاالت من رفاه‬
.‫المجتمع االقتصادي‬
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PRINCIPLE #7:
Governments Can Sometimes Improve Market Outcomes
‫يمكن للحكومات في بعض األحيان تحسين نتائج السوق‬
▪ Important role for govt: enforce property rights
(with police, courts)
▪ People are less inclined to work, produce, invest, or purchase if
large risk of their property being stolen.
▪ )‫ إنفاذ حقوق الملكية (مع الشرطة والمحاكم‬:‫دور هام للحكومة‬

‫الناس أقل ميالً إلى العمل أو اإلنتاج أو االستثمار أو الشراء إذا كان هناك خطر كبير من سرقة‬
.‫ممتلكاتهم‬
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PRINCIPLE #7:
Governments Can Sometimes Improve Market
Outcomes
‫مهم‬
▪ Market failure: when the market fails to allocate society’s resources
efficiently
▪ ‫ عندما يفشل السوق في تخصيص موارد المجتمع بكفاءة‬:‫فشل السوق‬
▪ Causes of market failure:
▪ Externalities, when the production or consumption
of a good affects bystanders (e.g. pollution)
▪ Market power, a single buyer or seller has substantial influence on
market price
(e.g. monopoly)
▪ :‫أسباب فشل السوق‬
▪ )‫ عندما يؤثر إنتاج أو استهالك السلعة على المارة (مثل التلوث‬، ‫العوامل الخارجية‬
▪ )‫ المشتري أو البائع الواحد له تأثير كبير على سعر السوق ( على سبيل المثال االحتكار‬، ‫قوة السوق‬
▪ Public policy may promote efficiency..‫السياسة العامة قد تعزز الكفاءة‬
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PRINCIPLE #7:
Governments Can Sometimes
Improve Market Outcomes
▪ Govt may alter market outcome to promote equity.
▪ ‫قد تغير الحكومة من نتائج السوق لتعزيز العدالة‬
▪ If the market’s distribution of economic well-being is not desirable, tax
or welfare policies can change how the economic “pie” is divided.

‫ فإن السياسات الضريبية أو االجتماعية‬، ‫إذا لم يكن توزيع السوق للرفاه االقتصادي مرغوبا فيه‬
‫يمكن أن تغير كيفية تقسيم “الكعكة” االقتصادية‬
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ACTIVE LEARNING
2
Discussion Question
In each of the following situations, what is the
government’s role? Does the government’s
intervention improve the outcome?
a. Public schools for K-12
b. Workplace safety regulations
c. Public highways
d. Patent laws, which allow drug companies to
charge high prices for life-saving drugs
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on a password
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use. use.
The principles of
HOW THE
ECONOMY
AS A WHOLE
WORKS
‫مبادئ االقتصاد‬
‫كأعمال كاملة‬
PRINCIPLE #8:
A Country’s Standard of Living Depends on Its Ability to Produce
Goods & Services
‫يعتمد مستوى المعيشة للبلد على قدرته على إنتاج السلع والخدمات‬
▪ Huge variation in living standards across countries and
over time:

:‫اختالف كبير في مستويات المعيشة عبر البلدان وعبر الزمن‬
▪ Average income in rich countries is more than ten times average
income in poor countries.
▪ The U.S. standard of living today is about
eight times larger than 100 years ago.
▪ .‫متوسط الدخل في البلدان الغنية هو أكثر من عشرة أضعاف متوسط الدخل في البلدان الفقيرة‬
▪ .‫ عام‬100 ‫يبلغ مستوى المعيشة في الواليات المتحدة اليوم ثمانية أضعاف ما كان عليه قبل‬
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password -protected website for classroom use.
PRINCIPLE #8:
A Country’s Standard of Living Depends on Its Ability to Produce
Goods & Services
▪ The most important determinant of living standards: productivity,
the amount of goods and services produced per unit of labor.
▪ ‫ وكمية السلع والخدمات المنتجة لكل وحدة من‬، ‫ اإلنتاجية‬:‫أهم العوامل المحددة لمستويات المعيشة‬
.‫العمالة‬
▪ Productivity depends on the equipment, skills, and technology
available to workers.
▪ .‫تعتمد اإلنتاجية على المعدات والمهارات والتكنولوجيا المتاحة للعمال‬
▪ Other factors (e.g., labor unions, competition from abroad) have far
less impact on living standards .

‫ المنافسة من الخارج) لها تأثير أقل بكثير على مستويات‬، ‫هناك عوامل أخرى ( مثل النقابات العمالية‬
‫المعيشة‬
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as
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PRINCIPLE #9:
Prices Rise When the Government Prints Too Much
Money
‫ترتفع األسعار عندما تطبع الحكومة الكثير من المال‬
▪ Inflation: increases in the general level of prices.
▪ .‫ الزيادات في المستوى العام لألسعار‬:‫التضخم‬
▪ In the long run, inflation is almost always caused by excessive growth
in the quantity of money, which causes the value of money to fall.

‫ مما يؤدي إلى‬، ‫ غالبا ً ما يحدث التضخم بسبب النمو المفرط في كمية المال‬، ‫على المدى الطويل‬
.‫انخفاض قيمة المال‬
▪ The faster the govt creates money, the greater the inflation rate.
▪ .‫ زاد معدل التضخم‬، ‫كلما زادت الحكومة من توليد المال‬
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PRINCIPLE #10:
Society Faces a Short-run Tradeoff Between Inflation and
Unemployment
‫المجتمع يواجه صفقة قصيرة المدى بين التضخم والبطالة‬
▪ In the short-run (1–2 years),
many economic policies push inflation and unemployment
in opposite directions.


‫ تدفع العديد من السياسات االقتصادية التضخم والبطالة في اتجاهين‬، )‫ سنة‬2- 1( ‫في المدى القصير‬
.‫متعاكسين‬
▪ Other factors can make this tradeoff more or less
favorable, but the tradeoff is always present.

‫ لكن المقايضة موجودة‬، ‫عوامل أخرى يمكن أن تجعل هذه المبادله التجاريه أكثر أو أقل مواتية‬
.ً ‫دائما‬

© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as
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FYI: How to Read Your Textbook
1. Read before class.
You’ll get more out of class.
2. Summarize, don’t highlight.
Highlighting is a passive activity that won’t
improve your comprehension or retention.
Instead, summarize each section in your own
words. Then, compare your summary to the one
at the end of the chapter.
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password -protected website for classroom use.
FYI: How to Read Your Textbook
3. Test yourself.
Try the “Quick Quiz” that follows each section
before moving on to the next section.
Write your answers down, compare them to the
answers in the back of the book. If your answers
are incorrect, review the section before moving on.
4. Practice, practice, practice.
Work through the end-of-chapter review questions
and problems. They are often good practice for
the exams. And the more you use your new
knowledge, the more solid it will become.
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password -protected website for classroom use.
FYI: How to Read Your Textbook
5. Go online.
The book comes with excellent web resources,
including practice quizzes, tools to strengthen
your graphing skills, helpful video clips, and other
resources to help you learn the textbook material
more easily and effectively. Visit:
http://academic.cengage.com/economics/mankiw
6. Study in groups.
Get together with a few classmates to review each
chapter, quiz each other, and help each other
understand the material.
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password -protected website for classroom use.
FYI: How to Read Your Textbook
7. Teach someone.
The best way to learn something is to teach it to
someone else, such as a study partner or friend.
8. Don’t skip the real world examples.
Read the Case Studies and “In The News” boxes
in each chapter. They will help you see how the
new terms, concepts, models, and graphs apply to
the real world. As you read the newspaper or
watch the evening news, see if you can find the
connections with what you’re learning in the
textbook.
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password -protected website for classroom use.
SUMMARY
The principles of decision making are:
• People face tradeoffs.
• The cost of any action is measured in terms of foregone
opportunities.
• Rational people make decisions by comparing marginal costs and
marginal benefits.
• People respond to incentives.
• :‫مبادئ صنع القرار هي‬
• .‫يواجه الناس المبادالت التجاريه‬
• .‫يتم قياس تكلفة أي إجراء من حيث الفرص الضائعة‬
• .‫العقالنيون يتخذون القرارات من خالل مقارنة التكاليف الهامشية والفوائد الهامشية‬
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• .‫الناس يستجيبون للحوافز‬
SUMMARY
The principles of interactions among people are:
• Trade can be mutually beneficial.
• Markets are usually a good way of coordinating trade.
• Govt can potentially improve market outcomes if there is a market
failure or if the market outcome is inequitable.
• :‫مبادئ التفاعل بين الناس هي‬
• .‫يمكن أن تكون التجارة مفيدة للطرفين‬
• .‫األسواق هي عادة طريقة جيدة لتنسيق التجارة‬
• ‫يمكن للحكومة أن تح ّسن نتائج السوق إذا كان هناك فشل في السوق أو إذا كانت نتيجة السوق غير‬
‫منصفة‬
© 2012©Cengage
2012 Cengage
Learning.
Learning.
All Rights
AllReserved.
Rights Reserved.
May notMay
be copied,
not be copied,
scanned,scanned,
or duplicated,
or duplicated,
in wholeinorwhole
in part,
or in
except
part,for
except
use as
for use as
permitted
permitted
in a license
in a distributed
license distributed
with a certain
with a product
certain product
or service
or or
service
otherwise
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on a password
on a password
-protected
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website website
for classroom
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use. use.
SUMMARY
The principles of the economy as a whole are:
• Productivity is the ultimate source of living standards.
• Money growth is the ultimate source of inflation.
• Society faces a short-run tradeoff between inflation and
unemployment.
• :‫مبادئ االقتصاد ككل هي‬
• .‫اإلنتاجية هي المصدر النهائي لمستويات المعيشة‬
• .‫نمو المال هو المصدر النهائي للتضخم‬
• .‫المجتمع يواجه مقايضة قصيرة المدى بين التضخم والبطالة‬
© 2012©Cengage
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Learning.
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Rights Reserved.
May notMay
be copied,
not be copied,
scanned,scanned,
or duplicated,
or duplicated,
in wholeinorwhole
in part,
or in
except
part,for
except
use as
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N. Gregory Mankiw
Principles of
Macroeconomics
Sixth Edition
2
Thinking Like an
Economist
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password -protected website for classroom use.
Premium
PowerPoint
Slides by
Ron Cronovich
In this chapter,
look for the answers to these questions:
• What are economists’ two roles? How do they differ?
• What are models? How do economists use them?
• What are the elements of the Circular-Flow Diagram?
What concepts does the diagram illustrate?
• How is the Production Possibilities Frontier related
to opportunity cost? What other concepts does it
illustrate?
• What is the difference between microeconomics and
macroeconomics? Between positive and normative?
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password -protected website for classroom use.
The Economist as Scientist ‫الخبير االقتصادي كعالم‬
▪ Economists play two roles:
1. Scientists: try to explain the world
2. Policy advisors: try to improve it
▪ In the first, economists employ the
scientific method,
the dispassionate development and testing of theories about how
the world works.
▪ :‫يلعب االقتصاديون دورين‬
▪ ‫ حاول أن تشرح العالم‬:‫ العلماء‬. 1
▪ ‫ حاول تحسينه‬:‫ مستشارو السياسة‬. 2

‫ وتنمية واختبار النظريات حول كيفية‬، ‫ يستخدم االقتصاديون المنهج العلمي‬، ‫في المقام األول‬
‫عمل العالم‬
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password -protected website for classroom use.
Assumptions & Models ‫االفتراضات والنماذج‬

Assumptions simplify the complex world,
make it easier to understand.

Example: To study international trade,
assume two countries and two goods.
Unrealistic, but simple to learn and
gives useful insights about the real world.
.‫ وتسهل فهمه‬، ‫االفتراضات تبسط العالم المعقد‬
.‫ افترض دولتين وسلعتين‬، ‫ لدراسة التجارة الدولية‬:‫مثال‬
‫ ولكنها بسيطة للتعلم وتعطي رؤى مفيدة حول العالم الحقيقي‬، ‫غير واقعية‬

Model: a highly simplified representation of a more complicated reality.
Economists use models to study economic issues.

.‫ يستخدم االقتصاديون نماذج لدراسة القضايا االقتصادية‬.‫ تمثيل مبسط للغاية لواقع أكثر تعقيدًا‬:‫النموذج‬

© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password -protected website for classroom use.
Some Familiar Models
‫بعض النماذج المألوفة‬
A road map
‫خارطة الطريق‬
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password -protected website for classroom use.
Some Familiar Models
A model of human
anatomy from high
school biology class
‫نموذج من التشريح البشري من فئة‬
‫البيولوجيا في المدرسة الثانوية‬
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password -protected website for classroom use.
Some Familiar Models
A model airplane
‫نموذج الطائره‬
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password -protected website for classroom use.
Some Familiar Models
The model teeth at the
dentist’s office
‫نموذج األسنان في مكتب طبيب‬
‫األسنان‬
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password -protected website for classroom use.
Don’t forget
to floss!
Our First Model:
The Circular-Flow Diagram
‫ مخطط التدفق الدائري‬:‫نموذجنا األول‬
▪ The Circular-Flow Diagram: a visual model of the economy,
shows how dollars flow through markets among households and
firms
▪ ‫ يبين كيف تتدفق الدوالرات عبر األسواق بين األسر‬، ‫ نموذج مرئي لالقتصاد‬:‫مخطط التدفق الدا

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