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Introduction: What is economics?经济学是什么？
这个作业将讨论经济的思维方式。有许多要素是经济学的基石。在第一章中，有四个要素的经济思维方式。我将关注理性人对激励的反应。理性人的目的是追求经济活动中的物质利益。理性人是自利的，理性人的选择是合理的（O'Sullivan，2010）。换言之，理性的人希望尽可能少付钱以获得最大的利益。在经济学中，要素有助于更好地理解经济行为的因果关系。首先，人们的行为和活动背后总是有想法，而这个想法就是激励（Rubinstein，2012年）。另一方面，人们做事时总有一种期待，这种期待也可以理解为激励。自亚当·史密斯以来，经济学家们就把自私作为人类活动的动力。例如，葡萄酒大师的动机就是改善他的生活。因此，在竞争激烈的市场环境下，优质葡萄酒是合理的。
This assignment will discuss the economic way of thinking. There are many elements which are the foundation stone of economics. In the first chapter, there are four elements of the economic way of thinking. I will focus on the elements of rational people respond to incentives. The purpose of rational people is pursuing the material benefits in economic activities. The rational people is self-interest and the choices made by rational people is reasonable (O'Sullivan, 2010). In other words, rational people wants to pay as little as possible to gain maximum benefits. In economic, the element can help use better understand the causal link of the economic behaviors. First, there is always ideas behind the behavior and activities of people, andthe idea is the incentive (Rubinstein, 2012). On the other hand, there is always an expectation when people doing something, and the expectation can also be understood as incentive. Economists since Adam Smith have set selfish as the incentive of human activity. For example, the incentive of wine master is to improve his life. Thus, in the competition market environment, the good wine is rational.
然而，贝克尔和墨菲（1988）声称理性的人并不意味着人是自私的。根据加里贝克尔的说法，理性的人可以是无私的。一般来说，在做决定时，理性的人只是为了自己。对于不同的个体，他们可以共享相同的文化和背景，这将影响个体的决策。当看到同一家餐厅的其他人吃饭时，人们更愿意去这家餐厅，这完全符合理性人对激励的反应。在经济上，利他主义也可以理解为一种利己主义。例如，为了提高酒师的生活水平，他应该提高葡萄酒的质量。换句话说，在市场竞争的压力下，葡萄酒大师似乎是无私的。然而，酒师的激励也是自私和理性的。However, Becker & Murphy (1988) claims that rational people does not mean that people are selfish. According to Gary Becker, rational people can be selfless. In general, when making decision, rational people are just for themselves. For different individuals, they can share the same cultures and backgrounds, which will affect the decision of individual. When seeing others in the same restaurant for dine, people would prefer to go to this restaurant, which is fully consistent with the element of rational people respond to incentives. In economic, altruistic can also be understood as a self-interest. For example, in order to improve life of wine master, he should improve the quality of wine. In other words, under the forces of market competition, wine master seem to be selfless. However, the incentive of wine master is also selfish and rational.
Reference:
Becker, G. S., & Murphy, K. M. (1988). A theory of rational addiction.Journal of political Economy, 96(4), 675-700.
Rubinstein, A. (2012). Lecture notes in microeconomic theory: the economic agent. Princeton University Press.
O'Sullivan, A. (2010). Survey of Economics Principles, Applications, and Tools: Myeconlab+ Pearson Etext Student Access... Prentice Hall.
Key Principles of economics经济学关键原理
在经济生活中，投入与产出之间有一个重要的原则，即收益递减原则。这一原则表明，在给定的技术水平和固定的其他投入条件下，当增加一项投入的投资时，边际产出最终会越来越小（O'Sullivan，2010年）。收益递减原则的一个重要原因是不同的投入对产出的影响。客观上，这一原则依赖于输入和输出之间的互补关系。关于这个原则有很多讨论。
There is an important principle between inputs and outputs in economic life, that is, the principle of diminishing returns. The principle shows that at given technological level and fixing other inputs, when increase the investment of one input, the marginal output will eventually become smaller and smaller (O'Sullivan, 2010). One of the important reasons for the principle of diminishing returns is the effect of different inputs on outputs. Objectively, the principle relies on the complementary relationship between inputs and outputs. There are many discussions on the principle.
首先，收益递减原则是普遍适用的原则。具体来说，这一原则是独立于经济体制的。无论经济体制如何，在固定其他投入时，增加一项投入都会产生收益递减的结果。此外，从长远来看，技术的进步可以改变生产效率，这样相同的投入将产生更多的产出（Gordon，2000年）。历史上，现代农业技术大大提高了边际产量。然而，大跨度的边际产出上升并不违背短期内收益递减的原则。因此，这一原则适用于短期的经济范围。
First, the principle of diminishing returns is the principle of general applicability. In specific, the principle is independent of the economic system. No matter what the economic system, when fixing other inputs, increasing one input will come to the results of diminishing returns. In addition, in the long run, the advances in technology can change the production efficiency, so that the same input will produce more outputs (Gordon, 2000). Historically, the technology of modern agricultural has greatly improved the marginal production. However, the rising marginal outputs in large span does not contradict with the principle of diminishing returns in the short term. Thus, the principle applies to the short term scope of economics.
另一方面，边际产出的最终减少并不意味着边际产出在不断减少（Romer，1986年）。换言之，边际产出可以在一定范围内增加。增加边际产出的原因是工作中的学习提高了效率。例如，随着工作时间的增加，工人对某项工作任务更加熟悉。边际产出将增加。然而，输出最终将达到临界点。临界点过后，边际产量将下降。
综上所述，这一原则适用于技术水平相同的短期经济范围。此外，边际产量也可以在一定范围内增加。On the other hand, the eventually decreasing of marginal output does not means that the marginal output is diminishing throughout (Romer, 1986). In other words, the marginal output may be increased in a certain range. The reason for increasing marginal out is learning while working increase the efficiency. For example, with the increasing of working hours, worker become more familiar with a certain job tasks. The marginal outputs will increase. However, the outputs will eventually reach to a critical point. After the critical point, the marginal output will decrease.
To sum up, the principle applies to the short term scope of economics with the same technological level. Moreover, the marginal output may be increased in a certain range.
Reference:
O'Sullivan, A. (2010). Survey of Economics Principles, Applications, and Tools: Myeconlab+ Pearson Etext Student Access... Prentice Hall.
Gordon, R. J. (2000). Does the “New Economy” Measure Up to the Great Inventions of the Past?(Digest Summary). Journal of economic perspectives, 14(4), 49-74.
Romer, P. M. (1986). Increasing returns and long-run growth. Journal of political economy, 94(5), 1002-1037.
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