CHAPTER
1
Preliminaries
Prepared by:
Fernando & Yvonn Quijano
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall • Microeconomics • Pindyck/Rubinfeld, 7e.
CHAPTER 1 OUTLINE
A.
Pengenalan RPS
B.
Materi Pendahuluan Mikroekonomi
1.1 The Themes of Microeconomics
1.2 What Is a Market?
Chapter 1: Preliminaries
1.3 Real versus Nominal Prices
1.4 Why Study Microeconomics?
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Chapter 1: Preliminaries
Pengenalan RPS
• Mencakup 14 pertemuan online (jarak jauh) selama
masa pandemi wabah Covid-19
• Minimal Quiz 2 kali
• Penugasan 2 kali
• Penilaian: UTS (35%); UAS (35%); Aktifitas (30%)
meliputi: Sikap (7%); Kehadiran (5%); Tugas (9%); Kuis
(9%)
• 1 SKS : 170 menit per minggu(50 menit Tatap Muka
online, 60 Menit Belajar Terstruktur, 60 menit belajar
Mandiri)
• Mata Kuliah Prasyarat: Pengantar Ilmu Ekonomi
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Chapter 1: Preliminaries
Peraturan Kelas
– Mahasiswa hadir dalam perkuliahan tatap muka online
minimal 11 kali dari jumlah 14 pertemuan;
– Setiap mahasiswa harus aktif dan partisipatif dalam
perkuliahan. Mahasiswa mengerjakan dengan baik aktifitas
perkuliahan berupa kuis (minimal 2 kali per semester) dan
tugas (minimal 2 kali per semester);
– Mahasiswa hadir di kelas tepat waktu sesuai dengan waktu
yang ditetapkan (jadwal);
– Toleransi keterlambatan adalah adalah 10 menit. Jika
melewati batas waktu toleransi, maka mahasiswa dapat
mengikuti perkuliahan tetapi tidak dicatat sebagai
kehadiran;
– Boleh makan dan minum selama perkuliahan sepanjang
tidak mengganggu perkuliahan;
– Ada pemberitahuan jika tidak hadir dalam perkuliahan tatap
muka, melalui WA, email, atau telepon dan menyampaikan
bukti pendukung;
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Chapter 1: Preliminaries
Peraturan Kelas
– Selama perkuliahan berlangsung gadget yang digunakan
berupa smartphone, laptop, atau tablet;
– Kesempatan diskusi dberikan dengan berbicara, bertanya,
menjawab, komentar atau hal lain yang diperkenankan
dosen;
– Saling menghargai dan tidak membuat kegaduhan/
gangguan/kerusakan selama kelas berlangsung;
– Sopan dan santun selama perkuliahan dan sesuai aturan
dapat menjadi dasar penilaian dosen untuk sikap;
– Tidak boleh ada plagiat dan bentuk-bentuk pelanggaran
norma lainnya;
– Mencontek saat UTS, dan UAS dikenakan hukuman disiplin
berat (diberhentikan). Bentuk soal UTS dan UAS yaitu:
pilihan ganda 40%, uraian/esai 60%;
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Peraturan Kelas
Chapter 1: Preliminaries
– Kriteria kelulusan mata kuliah:
TINGKAT
PENGUASAAN (%)
HURUF
ANGKA
KETERANGAN
86 – 100
A
4
Lulus
80 – 85,99
A-
3,7
Lulus
75 – 79,99
B+
3,3
Lulus
70 – 74,99
B
3,0
Lulus
66 – 69,99
B-
2,7
Lulus
61 – 65,99
C+
2,3
Lulus
56 – 60,99
C
2,0
Lulus
41 – 55,99
D
1,0
Belum Lulus
0 – 40,99
E
0
Belum Lulus
– Tidak ada proses perbaikan nilai, tugas, dan remedial
setelah UAS dilaksanakan.
– Nilai akhir akan diumumkan oleh Bagian Administrasi
Akademik melalui portal yang disediakan.
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Bentuk Quiz
• Open book
– Soal dikerjakan dalam waktu yang disediakan, bila tidak
mengumpulkan tepat waktu nilai = 0
• Menggunakan aplikasi ‘quizzes’
Chapter 1: Preliminaries
– Siswa mengikuti kuiz dan menjawab secara langsung
menggunakan aplikasi yang disediakan
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Pembuatan Tugas
Yang Salah
Mahasiswa X membuat tulisan sbb:
Chapter 1: Preliminaries
Mahasiswa Y membuat tulisan sbb:
Tugas paper TIDAK
dilakukan hanya untuk
menyalin tulisan orang lain.
Masukkan ide/gagasan Anda
dengan mengacu pada
referensi yang dikutip.
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Pembuatan Tugas
Yang Benar
Mahasiswa X menulis:
Chapter 1: Preliminaries
Perancis
Kota mode ini sangat terkenal di Eropa dengan
banyak pilihan destinasi wisata. Kota ini juga
menjadi tempat favorit bagi turis untuk
berbelanja….
Mahasiswa Y menulis:
Perancis
Berbagai merek terkenal yang dijual di kota ini
sangat memanjakan turis yang datang. Setiap
tahun selalu ada produk baru yang
ditawarkan…..
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Preliminaries
Chapter 1: Preliminaries
● microeconomics Branch of economics that deals with
the behavior of individual economic units—consumers,
firms, workers, and investors—as well as the markets that
these units comprise.
● macroeconomics Branch of economics that deals with
aggregate economic variables, such as the level and
growth rate of national output, interest rates,
unemployment, and inflation.
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1.1
THE THEMES OF MICROECONOMICS
Trade-Offs
Consumers
Consumers have limited incomes, which can be spent on a
wide variety of goods and services, or saved for the future.
Chapter 1: Preliminaries
Workers
Workers also face constraints and make trade-offs. First,
people must decide whether and when to enter the
workforce. Second, workers face trade-offs in their choice of
employment. Finally, workers must sometimes decide how
many hours per week they wish to work, thereby trading off
labor for leisure.
Firms
Firms also face limits in terms of the kinds of products that
they can produce, and the resources available to produce
them.
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Barter(물물교환) by Sara Teasdale (장영희 역)
Chapter 1: Preliminaries
“Life will not give but she will sell”
Life has loveliness to sell,
All beautiful and splendid things;
Blue waves whitened on a cliff..,
And children's faces looking up,
Holding wonder like a cup.
Music like a curve of gold,
Scent of pine trees in the rain,
Eyes that love you, arms that hold…
Give all you have for loveliness;
Buy it, and never count the cost…
And for a breath of ecstasy,
Give all you have been, or could be.
삶은 아주 멋진 것들을 팝니다.
모두 아름답고 훌륭한 것들이죠.
벼랑에 하얗게 부서지는 푸른 파도
잔처럼 경이로움을
가득 담고 쳐다보는 아이들의 얼굴들.
금빛 줄기처럼 휘어지는 음악소리.
비에 젖은 솔 내음새
당신을 사랑하는 눈매, 보듬어 안는 팔들,
전재산을 털어 아름다움을 사세요.
사고나서는 값을 따지지 마세요.
한 순간의 환희를 위해
당신의 모든 것을 바치세요.
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1.1
THE THEMES OF MICROECONOMICS
Prices and Markets
Microeconomics describes how prices are
determined.
Chapter 1: Preliminaries
In a centrally planned economy, prices are set by
the government.
In a market economy, prices are determined by the
interactions of consumers, workers, and firms.
These interactions occur in markets—collections of
buyers and sellers that together determine the price
of a good.
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1.1
THE THEMES OF MICROECONOMICS
Theories and Models
In economics, explanation and prediction are based on
theories. Theories are developed to explain observed
phenomena, and examining ideal states, in terms of a set of
basic rules and assumptions.
A model is an abstraction of real world of complexities with a
purpose of focusing on important matters.
Chapter 1: Preliminaries
Positive versus Normative Analysis
● positive analysis Explaining observed phenomena by
analyzing the relationships of cause and effect.
● normative analysis Examining ideal states by asking
the questions of what ought to be.
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1.1
THE THEMES OF MICROECONOMICS
Theories and Models
Phenomena
Chapter 1: Preliminaries
How to solve problems in
Economics
Model:
•Equation, eq: Q=30-2P
•Graph
Prediction
Theory
Explanation
•Narrative, eq: stories,
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1.2
WHAT IS A MARKET?
● market Collection of buyers and sellers that, through
their actual or potential interactions, determine the price of
a product or set of products.
Chapter 1: Preliminaries
● market definition Determination of the buyers, sellers,
and range of products that should be included in a
particular market.
● arbitrage Practice of buying at a low price at one
location and selling at a higher price in another.
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1.2
WHAT IS A MARKET?
Competitive versus Noncompetitive Markets
● perfectly competitive market Market with many buyers
and sellers, so that no single buyer or seller has a
significant impact on price.
Market Price
Price prevailing in a competitive market.
Chapter 1: Preliminaries
● market price
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1.2
WHAT IS A MARKET?
Market Definition—The Extent of a Market
● extent of a market Boundaries of a market, both
geographical and in terms of range of products produced
and sold within it.
Market definition is important for two reasons:
Chapter 1: Preliminaries
• A company must understand who its actual and potential
competitors are for the various products that it sells or
might sell in the future.
• Market definition can be important for public policy
decisions.
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1.2
WHAT IS A MARKET?
In 1990, the Archer-Daniels-Midland Company (ADM) acquired
the Clinton Corn Processing Company (CCP).
The U.S. Department of Justice (DOJ) challenged the acquisition
on the grounds that it would lead to a dominant producer of corn
syrup with the power to push prices above competitive levels.
Chapter 1: Preliminaries
ADM fought the DOJ decision, and the case went to court. The
basic issue was whether corn syrup represented a distinct market.
ADM argued that sugar and corn syrup should be considered part
of the same market because they are used interchangeably to
sweeten a vast array of food products.
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• Moohak- Daesun (2002)
Chapter 1: Preliminaries
– Moohak is a local soju producer in Kyungnam province, while
Daesun is a local producer in adjacent Busan area.
– Both are dominant in each region, and almost close to a
monopolistic position with market shares more than 80%.
– But they are fringe firms in national market with market shares
less than 10%. Jinro is a national producer with more than 50%.
– KFTC defining the relevant markets as the two regions, made an
injunctive order of shares disposal in 2003.
– Seoul high court, evaluating confronting economic analyses on
the relevant geographic market, made a final decision upholding
the KFTC’s decision in 2004.
• Jeon (2004) submitted economic analyses which confirmed
the KFTC’s market definition.
•*
•20
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• Hite-Jinro (2005)
Chapter 1: Preliminaries
– Hite and Jinro are dominant companies in Korean beer and soju
market, respectively – each with market share more than half.
– Opposing parties argued that beer and soju constitute a single
product market relevant to antitrust merger evaluation, so-called
“pub alcoholic drink (大衆酒).”
– KFTC concluded that beer and soju are separate product
markets, and approved the merger with some transitory
corrective remedies attached.
• Jeon-Kim-Park-Yoon (2005) submitted KFTC several
economic analyses to support that beer and soju are
separate product markets
•*
•21
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1.3
REAL VERSUS NOMINAL PRICES
● nominal price
inflation.
Absolute price of a good, unadjusted for
Chapter 1: Preliminaries
● real price Price of a good relative to an aggregate
measure of prices; price adjusted for inflation.
● Consumer Price Index Measure of the aggregate price
level for final consumption goods
● Producer Price Index Measure of the aggregate price
level for intermediate products and wholesale goods.
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1.3
REAL VERSUS NOMINAL PRICES
Table 1.1 The Real Price of Eggs and of a College Education
1970
1980
1990
2000
2007
38.8
82.4
130.7
172.2
205.8
Grade A Large Eggs
$0.61
$0.84
$1.01
$0.91
$1.64
College Education
$2,530
$4,912
$12,018
$20,186
$27,560
Grade A Large Eggs
$0.61
$0.40
$0.30
$0.21
$0.31
College Education
$2,530
$2,313
$3,568
$4,548
$5,196
Consumer Price Index
Nominal Prices
Chapter 1: Preliminaries
Real Prices ($1970)
The real price of eggs in 1970 dollars is calculated as follows:
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1.3
REAL VERSUS NOMINAL PRICES
Figure 1.1
Chapter 1: Preliminaries
The Minimum Wage
In nominal terms, the
minimum wage has
increased steadily
over the past 70
years.
However, in real
terms its expected
2010 level is below
that of the 1970s.
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1.4
WHY STUDY MICROECONOMICS?
Corporate Decision Making: Ford’s Sport Utility Vehicles
The design and efficient production of Ford’s SUVs involved
not only some impressive engineering, but a lot of economics
as well.
Chapter 1: Preliminaries
First, Ford had to think carefully about how the public would
react to the design and performance of its new products.
Next, Ford had to be concerned with the cost of
manufacturing these cars.
Finally, Ford had to think about its relationship to the
government and the effects of regulatory policies.
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1.4
WHY STUDY MICROECONOMICS?
Public Policy Design: Automobile Emission Standards for
the Twenty-First Century
The design of a program like the Clean Air Act involves a
good deal of economics.
First, the government must evaluate the monetary impact of
the program on consumers.
Chapter 1: Preliminaries
The government must determine how new standards will
affect the cost of producing cars.
Finally, the government must ask why the problems related to
air pollution are not solved by our market-oriented economy.
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