经济学能做什么？经济学能够为大家所提供的东西到底是什么？这些问题显然要涉及到经济学的逻辑与效用，概括地说，经济学并非世俗理解中的一套致富方法或快速见效的使用工具，而仅仅是一套观察世界和分析世界的理论分析方法和应用体系。

由主流经济学家来撰写标准经济学教科书，并且试图影响经济学界内外乃至整个社会，是经济学界由来已久的传统。由哈佛大学经济学教授N·格里高利·曼昆编写的经济学教科书系列是当今世界上最畅销的经济学基础教材，目前已经被翻译成多种语言文字，成为许多国家的大学经济学通用教材，并且被数以百万计的经济学教师、学生和其他读者所使用。它简洁明快、有趣的文字和层次分明的内在逻辑吸引了成千上万对经济学尚无任何了解的读者，成为最便捷和最实用的经济学入门教材。

How People Make Decisions 3

 Principle#1：People Face Tradeoffs 3

 Principle#2：The Cost of Something

IsWhatYouGiveUPtoGetIt 4

 Principle#3：Rational People Think at the Margin 5

 Principle#4：People Respond to Incentives 6

HOW People Interact 7

 Principle#5：Trade Can Make Everyone Better Off 7

 Principle#6：Markets Are Usually a Good Wav

to Organize Economic Activity 8

 j Adam Smith and the Invisible Hand 9

 Principle#7：Governments Can Sometimes

Improve Market Outcomes 9

HOW the Economy as a Whole Works 1 0

 Principle8：A Country’S Standard of Living Depends on

Its Ability to Produce Goods and Services 1 0

 Principle#9：Prices Rise When the Government

PrintsTooMuchMoney 11

 Principle10：Society Faces a Short—Run Tradeoff

between Inflation and Unemployment 1 2

 F：HOW to Read This Book 13

Conclusion 1 4

Summary 14

KeyConcepts 1 5

Questions for Review 1 5

Problems and Applications 1 5

The Economist as Scientist 1 8

 The Scientific Method：Observation，Theor

and More Observation 1 9

 The Role of Assumptions 1 9

 Economic Models 20

 Our First Model：The Circular-Flow Diagram 2 1

 Our Second Model：The Production Possibilities

Frontier 22

 Microeconomics and Macroeconomics 24

The Economist as Policy Adviser 26

 Positive versus Normative Analysis 26

Why Economists Disagree 27

 Differences in Scientific Judgments 28

 Differences in Values 28

 Perception versus Reality 28

Summary 30

Key Concepts 30

Questions for Review 30

Problems and Applications 30

A Parable for the Modern Economy 33

 Production Possibilities 33

The Principle of Comparative Advantage 35

 Absolute Advantage 36

 Opportunity Cost and Comparative Advantage 37

 Comparative Advantage and Trade 38

Applications of Comparative Advantage 39

 Should Tiger Woods Mow His Own Lawn? 39

 Should the United States Trade with

Other Countries?40

Conclusion 4 1

Summary 41

Key Concepts 41

Questions for Review 4 1

Problems and Applications 42

Markets and Competition 47

 Competitive Markets 47

 Competition：Perfect and Otherwise 47

Demand 48

 The Demand Curve：The Relationship between Price and

Quantity Demanded 48

 Market Demand versus Individual Demand 49

 Shifts in the Demand Curve 50

 CASE STUDY：Two Ways to Reduce the Quantity

of Smoking Demanded 53

Supply 54

 The Supply Curve：The Relationship

between Price and Quantity Supplied 54

 Market Supply versus Individual Supply 55

 Shifts in the Supply Curve 56

Supply and Demand Together 58

 Equiliblrium 58

 Three Steps to Analyzing Changes in Equilibrium 60

Conclusion：How Prices Allocate Resources 65

Summary 66

Key Concepts 67

Questions for Review 67

Problems and Applications 68

The Elasticity of Demand 7 1

 The Price Elasticity of Demand and Its Determinants 7 1

 Computing the Price Elasticity of Demand 72

 The Midpoint Method：A Better Way to Calculate

Percentage Changes and Elasticities 73

STUDV Pricing Admission to a Museum 75

On the Road with Elasticity  75

Other Demand Elasticities 76

 The Elasticity of Supply 77

 The Price Elasticity of Supply and Its Determinants 77

 Computing the Price Elasticity of Supply 78

 The Variety of Supply Curves 78 ’

Three Applications of Supply,Demand，

 and Elasticity 81

 Can Good NeWS for Farming Be Bad NeWS for

Farmers?81

 Why Did OPEC Fail to Keep the Price of Oil High?83

Conclusion 84  ，

Summary 85

KevConcepts 85

Questions for Review 85

Problems and Applications 86

Controls on Prices 89

 HOW Price Ceilings Affect Market Outcomes 89

 eASSTUD Y：Lines at the Gas Pump 91

 CASE STUDY=The Minimum Wage  92

 HOW Price Floors Affect Market Outcomes 92

 ：Does a Drought Need to Cause a Water

Shortage? 93

 Evaluating Price Controls 96

Taxes 97

 HOW Taxes on Buyers Affect Market Outcomes 97

 How Taxes on Sellers Affect Market Outcomes 99

 CASE STUDY=Wh0 Pays the Luxury Tax?  1 01

Conclusion 1 01

Summary 102

Key Concepts 102

Ouestions for Review 102

Problems and Applications 1 02

e}{APTER 7

CONSUMERS，PRODUCERS，

AND THE EFFICIENCY OF MARKETS 106

Consumer Surplus 1 07

Willingness to Pay 107

Using the Demand Curve to Measure Consumer

Surplus 108

HOW a Lower Price Raises Consumer Surplus 109

What Does Consumer Surplus Measure? 1 1 0

Producer Surplus 11 2

Cost and the Willingness to Sell 11 2

Using the Supply Curve to Measure Producer Surplus 1 1 3

How a Higher Price Raises Producer Surplus 1 1 5

Market Efficiency 1 1 6

The Benevolent Social Planner 1 1 6

Evaluating the Market Equilibrium 1 1 7

l Ticket Scalping  1 20

Conclusion：Market Efficiency and Market Failure 1 2 1

Summary 1 22

Key Concepts 1 22

Questions for Review 1 2 2

Problems and Applications 1 23

The Deadweight Loss of Taxation 1 26

 HOW a Tax Affects Market Participants 1 2 7

 Deadweight Losses and the Gains from Trade 1 29

The Determinants of the Deadweight Loss 1 30

 CASE STUDY：The Deadweight Loss Debate 132

Deadweight Loss and Tax Revenue as Taxes Vary 133

 Henry George and the Land Tax 134

 CASE STUDY：The Laffer Curve and Supply—Side

Economics 1 35

Conclusion 1 37

Summary 138

Key Concepts 1 38

Questions for Review 1 38

Problems and Applications 1 38

The Determinants of nade 1 4 1

 The Equilibrium without Trade 1 4 1

 The World Price and Comparative Advantage 1 42

The Winners and Losers from Trade 1 43

 The Gainsnd Losses of an Exporting Country 1 43

 The Gains and Losses of an Importing Country 145

 TheEffectsofal．ariff 147

 l Life in Isoland 149

 The Effects of an Import Quota 1 50

The Arguments for Restricting Trade 1 52

 F￥k 0ther Benefits of International Trade 1 53

 The 10bs Argument 1 53

 The National—Security Argument 1 54

 The Infant—Industry Argument 1 54

 The Unfair—Competition Argument 1 54

 The Protection—as—a—Bargaining—Chip Argument 1 55

 CASE STU DY：Trade Agreements and the World Trade

Organization 1 55

 l Globalization 1 56

Conclusion 1 57

Summary 1 58

Key Concepts 1 59

Questions for Review 1 59

Problems and Applications 1 59

Externalities and Market Inefficiency 1 63

 Welfare Economics：A Recap 1 64

 Negative Externalities 1 65

 Positive ExternaHties 1 66

 CASE STUDY：Technology Spillovers and Industrial Policy 1 67

Private Solutions to Externalities 1 68

 The Types of Private Solutions 1 68

 The Coase Theorem 1 69

 Why Private Solutions Do Not Always Work 170

Public Policies toward Externalities 17 1

 Regulation 17 1

 Pigovian Taxes and Subsidies 172

 CASE STUDY：Why Is Gasoline Taxed So Heavily?173

 Tradable Pollution Permits 174

 Objections to the Economic Analysis of Pollution 17 5

Conclusion 176

Summary 177

Key Concepts 17 7

Questions for Review 17 7

Problems and Applications 17 7

The Different Kinds of Goods 1 8 1

Public Goods 1 82

 The Free—Rider Problem 183

 Some Important Public Goods 183

 CASE STUDY=Are Lighthouses Public Goods?185

 The Difficult Job of Cost—Benefit Analysis 186

Common Resources 187

 The Tragedy of the Commons 1 87

 Some Important Common Resources 1 88

 lThe Singapore Solution 188

 CASE STUDY：Whv the Cow Is Not Extinct 190

 ：Should Yellowstone Charge as Much as

Disney W6rld? 19 1

Conclusion：The Importance of Property Rights 1 92

Summary 193

Key Concepts 1 93

Questions for Review 1 93

Problems and Applications 1 93

A Financial Overview of the U．S．Government 1 96

 The Federal Government 1 96

 State and Local Government 200

Taxes and Efficiency 202

 Deadweight Losses 202

 CASE STUD Y=Should Income or Consumption

BeTaxed?203

 Administrative Burden 204

 Marginal Tax Rates versus Average Tax Rates 204

 CASE STU DV：Iceland’s Natural Experiment

 Lump—Sum Telxes 205

 lHow Taxes Affect Married women 206

Taxes and Equity 207

 The Benefits Principle 208

 The Ability—to—Pay Principle 208

 eSTUDY：How the Tax Burden Is Distributed 209

 CASE STUDY：HorizontalEquityandtheMarriageTax 211

 Tax Incidence and Tax Equity 21 2

 The Case against Taxing

Capital Income 21 3

 eSUV Who Pays the Corporate Income’rax? 214

Conclusion：The Tradeoff between Equity and。

 Efficiency 214

Summary 215  ’

Key Concepts 21 5

Questions for Review 2 16

Problems and Applications 216

What Are Costs?221

 Total Revenue，Total Cost，and Profit 2 2 1

 Costs as OpportuniW Costs 221

 The Cost of Capital as an Opportunity Cost 222

 Economic Profit versus Accounting Profit 223

 I ue Profit versus Fictitious Profit 224

Production and Costs 224

 The Production Function 225

 From the Production Function to the Total—Cost

Curve 226

TheriOUS Measures of Cost 228

 Fixed and Variable Costs 2 29

 Average and Marginal Cost 230

 Cost Curves and Their Shapes 23 1

 TVpical Cost Curves 232

Costs in the Short Run and in the Long Run 233

 The Relationship between ShortRun and Long--Run

Average Total Cost 233

 Economies and Diseconomies of Scale 236

 FE Lessons from a Pin Factory 236

Conclusion 237

Summary 238

Key Concepts 238

Questions for Review 23jB

Problems and Applications 239

What Is a Competitive Market? 242

 The Meaning of Competition 242

 The Revenue of a Competitive Firm 243

Profit Maximization and the Competitive Firm’s Supply

 Curve 244  -

 A Simple Example of Profit Maximization 244

 The Marginal—Cost Curve and the Firm’s Supply

Decision 246

 The Firm’s Short—Run Decision to Shut Down 247

 Spilt Milk and Other Sunk Costs 249

 eASE STUDY=Near—Empty Restaurants and Off—Season

Miniature Golf 250

 The Firm’s Long—Run Decision to Exit or Enter

aMarket 250

 Measuring Profit in Our Graph for the Competitive

Firm 251

The Supply Curve in a Competitive Market 253

 The Short Run：Market Supply with a Fixed Number

ofFirms 253

’The Long Run：Market Supply with Entry and Exit 254

Whv Do Competitive Firms Stay in Business If They Make

Zero Profit? 255

 A Shift in Demand in the Short Run and Long Run 256

 Why the Long—Run Supply Curve Might Slope

Upward 256

Conclusion：Behind the Supply Curve 258

Summary 259

Key Concepts 259

Ouestions for Review 259

Problems and Applications 260

Why Monopolies Arise 263

 Monopoly Resources 264

 Government—Created Monopolies 264

 Natural Monopolies 265

How Monopolies Make Production

 and Pricing Decisions 266

 Monopoly versus Competition 266

 A Monopoly’s Revenue 268

 Profit Maximization 270

 Vi。Whv a Monopolv Does Not Have

a Supply Curve 271

 A Monopoly’s Profit 272

 CASE SU0Monopoly Drugs versus

Generic Drugs 272

The Welfare Cost of Monopolv 2 74

 The Deadweight LOSS 2 74

 The Monopoly’s Profit：A Social Cost? 2 76

Public Policy toward Monopolies 277

 Increasing Competition with Antitrust Laws 277

 Regulation 278

 Public Ownership 2 79

 Doing Nothing 280

 ：Public Transport and

Private Enterprise 280

Price Discrimination 282

 A Parable about Pricing 282

 The Moral of the Story 283

 The Analytics of Price Discrimination 284

 Examples of Price Discrimination 285

 Why People Pay More Than Dogs 286

Conclusion：The Prevalence of Monopolv 288

Summary 289

Key Concepts 289

Questions for Review 289

Problems and Applications 290

Between Monopoly and Perfect Competition 294

Markets with Only a Few Sellers 295

 A Duopoly Example 296

 Competition，Monopolies，and Cartels 296

 The Equilibrium for an Oligopoly 297

 How the Size of an Oligopoly Affects

the Market Outcome 298

 eASg STUDY：OPEC and the WOrld Oil Market 300

Game Theory and the Economics 0f Cooperation 300

 i ：The Growth of Oligopoly 301

 The Prisoners’Dilemma 302

 Oligopolies as a Prisoners’Dilemma 303

 Other Examples of the Prisoners’Dilemma 304

 The Prisoners’Dilemma and the Welfare of Society 306

 Whv People Sometimes Cooperate 307

 eASSiUDY：The Prisoners’Dilemma Tournament 308

Public Policy toward Oligopolies 309

 Restraint of Trade and the Antitrust Laws 31 0

 Controversies over Antitrust Policy 31 0

一eASE STUDY：The Microsoft Case 312

 ls：Antitrust in the New Economy 314

Conclusion 31 4

Summary 31 5

Key Concepts 31 5

Questions for Review 31 5

Problems and Applications 31 5

Competition with Differentiated Products 31 9

 The Monopolistically Competitive Firm

intheShortRun 319

 The Long—Run Equilibrium 320

 Monopolistic versus Perfect Competition 322

 Monopolistic Competition and the Welfare of Society 324

 f：y{。Is Excess Capacity a Social Problem?32 5

Advertising 325

 The Debate over Advertising 326

 CASE STUDY：Advertising and the Price of Eyeglasses 327

 Advertising as a Signal of Quality 327

 Brand Names 328

Conclusion 330

Summary 331

Key Concepts 331

Questions for Review 33 1

Problems and Applications 332

The Demand for Labor 335

 The Competitive Profit—Maximizing Firm 336

 The Production Function

and the Marginal Product of Labor 337

 The Value of the Marginal Product 

and the Demand for Labor 338

 What Causes the Labor Demand Curve to Shift?340

The Supply of Labor 340

 The Tradeoff between Work and Leisure 340

 What Causes the Labor Supply Curve to Shift?341

Equilibrium in the Labor Market 342

 Shifts in Labor Supply 342

 Shifts in Labor Demand 343  

 CASE STUDY：Productivity and Wages 344

 f：Yt：Monopsony 346

The 0ther Factors of Production：Land and Capital 346

 Equilibrium in the Markets for Land and Capital 346

 l：What Is Capital Income? 348

 Linkages among the Factors of Production 348

 CASE STUDY：The Economics of the Black Death 349

Conclusion 350

Summary 350

Key Concepts 350

Questions for Review 35 1

Problems and Applications 351

Some Determinants of Equilibrium Wages 354

 Compensating Differentials 354

 Human Capital 354

 eASE STUDV The Increasing Value of Skills 355

 Ability,Effort，and Chance 356

 Looking for True Love?Go to Schoo、357

 CASE STUDY：The Benefits of Beauty 358

 An Alternative View of Education：Signaling 358

 The Superstar Phenomenon 359

 l Are Elite Colleges Worth

the Cost?360

 Above—Equilibrium Wages：Minimum—Wage Laws，

Unions，and Efficiency Wages 360

The Economics of Discrimination 362

 Measuring LaborMarket Discrimination 362

 Discrimination by Employers 364

 Discrimination by Customers and Governments 364

 CAS E STU DY：Discrimination in Sports 36 5

Conclusion 366

Summary 366

Key Concepts 367

Questions for Review 367

Problems and Applications 368

The Measurement of Inequality 371

 U．S．Income Inequality 37 1

 CASE STUDY：The Women’8 Movement and the Income

Distribution 372

 CASSTUD Y=Inequalitv Around the World 373

 The Poverty Rate 374  ·

 Problems in Measuring Inequality 375

 Economic Mobility 377

The Political Philosophy of Redistributing Income 378

 Utilitarianism 378

 Liberalism 379

 Libertarianism 380

Policies to Reduce Poverty 381

 Minimum—Wage Laws 382

 Wlfare 382

 Should the Government Trv to Help

Poor Re~ions?383

 Ne~ative Income Tax 384

 In—Kind 11ransfers 385

 Antipoverty Programs and Work Incentives 385

Conclusion 386

 School Vouchers 387

Summary 388

Kev Concepts 389

Questions for Review 389

Problems and Applications 389

The Budget Constraint：What me Consumer

 CanAfiord 393

Preferences：What the Consumer Wants 395

 Representing Preferences with Indifference Curves 395

 Four Properties of Indifference Curves 396

 Two Extreme Examples of Indifference Curves 397

Optimizatiomat the Consumer Chooses 399

 The Consumer’s Optimal Choices 400

 F；：Utility：An Alternative Wav to Describe Preferences

and Optimization 401

 How Changes in Income Affect the Consumer’s

Choices 401

 How Changes in Prices Affect the Consumer’s Choices 402

 Income and Substitution Effects 403

 DerivinK the Demand Curve 405

Three Applications 407

 Do A11 Demand Curves Slope Downward?407

 How Do Wages Affect Labor Supply?408

 CASE STUDV Income Effects on Labor Supply：

Historical Trends，Lottery Winners，and

the Carnef~ie Conjecture 411

 How Do Interest Rates Affect Household Saving?41 2

Conclusion：Do People Really Think This Way?41 4

Summary 41 5

Key Concepts 41 5

Questions for Review 41 5

Problems and Applications 41 6

Asymmetric Information 41 9

 Hidden Actions：Principals，Agents，

and Moral Hazard 41 9

 Hidden Characteristics：Adverse Selection

and the Lemons Problem 420

 Signaling to Convey Private Information 42 1

 eASSTUDV：Gifts as Signals 422

 Screening to Induce Information Revelation 422

 Asymmetric Information and Public Policy 423

Political Economy 424

 The Condorcet Voring Paradox 424

 Arrow’s Impossibility Theorem 42 5

 The Median Voter Is King 426

 Politicians Are People Too 427

Behavioral Economics 428

 People Aren’t Always Rational 428

 ；THEVV：Farm Policy and Politics 42 9

 People Care About Fairness 43 1

 People Are Inconsistent over Time 432

Conclusion 432

Summarc 433

Key Concepts 433

Questions for Review 433

Problems and Applications 434

Glossarc 435

  Should Tiger Woods MOW His Own Lawn?Tiger Woods spends a lot of time walking around on grass．One of the most tal—ented golfers of all time，he can hit a drive and sink a putt in a way that most ca—sual golfers only dream of doing．Most likely,he is talented at other activities too．For example。let’S imagine that Wloods can mow his lawn faster than anyone else．But{ust because he can mow his lawn fast，does this mean he should? To answer this question,we can use the concepts of opportunity cost and com-parative advantage．Let’s say that WOods can mow his lawn in 2 hours．In thatsame 2 hours，he could film a television commercial for N『ike and earn$10，000．By contrast，Forrest Gump，the boy next door,can mow W60ds’s lawn in 4 hours．Inthat same 4 hours，he could work at McDonald’s and earn$20． In this example，Woods’s opportunity cost of mowing the lawn is$10，000 andForrest’s opportunity cost is$20．Woods has an absolute advantage in mowinglawns because he can do the work in less time．Yet Forrest has a comparative ad-vantage in mowing lawns because he has the lower opportunity cost． The gains from trade in this example are tremendous．Rather than mowing hisown lawn．Woods should make the commercial and hire Forrest to mow the lawn．As 10ng as Woods pays Forrest more than$20 and less than$1 o，000，both of them are better off．Should the United States Trade with Other Countries?Just as individuals can benefit from specialization and trade with one another,asthe farmer and rancher did，so can populations of people in different countries．Many of the goods that Americans enjoy are produced abroad，and many of thegoods produced in the United States are sold abroad．Goods produced abroad and sold domestically are called imports．Goods produced domestically and sold abroad are called exports． To see how countries can benefit from trade，suppose there are two countries，the United States and Japan，and two goods，food and cars．Imagine that the two countries produce cars equally well：An American worker and a Japanese worker can each produce 1 car per month．By contrast，because the United States has more and better land，it is better at producing food：A U．S．worker can produce 2 tons of food per month，whereas a Iapanese worker can produce only 1 ton of food per month． The principle of comparative advantage states that each good should be pro—duced by the country that has the smaller opportunity cost of producing that good．Because the opportunity cost of a car is 2 tons of food in the United States but only 1 ton of food in Japan，Japan has a comparative advantage in producingcars．Japan should produce more cars than it wants for its own use and export some of them to the United States．Similarly,because the opportunity cost of a tonof food is 1 car in Japan but only×car in the United States，the United States has a comparative advantage in producing food：The United States should producemore food than it wants to consume and export some of it to Japan．Through spe—cialization and trade，both countries can have more food and more cars． In reality,of course，the issues involved in trade among nations are more com—plex than this example suggests，as we will see later in the text．Most importantamong these issues is that each country has many citizens with different interests．International trade can make some individuals worse off，even as it makes the country as a whole better off．When the United States exports food and imports cars，the impact on an American farmer is not the same as the impact on an Amer—ican autoworker．Yet，contrary to the opinions sometimes voiced by politicians and political commentators，international trade is not like war,in which some countfies win and others lose．Trade allows all countries to achieve greater prosperity．    

 ——第39、40页

自教育部在《关于加强高等学校本科教学工作提高教学质量的若干意见》【教高(2001)4号】中提出双语教学的要求后，各地高校相继开设了一系列双语教学课程。这对提高学生的学科和外文水平，开阔国际视野，培养创新型人才起到了重要的作用；一大批教师也逐渐熟悉了外文授课，自身的教学水平和能力得到较大提高，具备国际学术思维的中青年教师脱颖而出。同时，经过近几年的双语教学实践，国外原版教材量大、逻辑不够清晰、疏离中国现实等问题也影响了双语教学的效果。因此，对外版教材进行本土化的精简改编，使之更加适合我国的双语教学已提上教材建设日程。

为了满足高等学校经济管理类双语课程本土化教学的需要，在教育部高等教育司的指导和支持下，高等教育出版社同Thomson Learning等国外著名出版公司通力合作，在国内首次推出了金融、会计、经济学等专业的英文原版改编教材。本套教材的遴选、改编和出版严格遵循了以下几个原则：

1．择优选取权威的新版本。在各专业选书论证会上，我们要求入选改编的教材不仅是在国际上多次再版的经典之作的最新版本，而且是近年来已在国内被试用的优秀教材。

2．改编后的教材力求内容规范简明，逻辑更加清晰，语言原汁原味，适合中国的双语教学。选择的改编人既熟悉原版教材内容又具有本书或本门课程双语教学的经验；在改编过程中，高等教育出版社组织了知名专家学者召开了数次改编和审稿会议，改编稿征求了众多教师的意见。

3．改编后的教材配有较丰富的辅助教学支持资源，教师可在网上免费获取。同时，改编后的教材厚度适中，定价标准较低。

由于原作者所处国家的政治、经济和文化背景等与我国不同，对书中所持观点，敬请广大读者在阅读过程中注意加以分析和鉴别。

此次英文改编教材的出版，得到了很多专家学者的支持和帮助，在此深表谢意!我们期待这批英文改编教材的出版能对我国经济管理类专业的教学能有所帮助，欢迎广大读者给我们提出宝贵的意见和建议。