【正文】 監(jiān)督成本（Monitoring Cost）：指契約簽訂后，監(jiān)督對方是否依約執(zhí)行的成本。pra??t?] ine + rental ine + net interestEconomics theory mainstreamClassical economics : the first modern school of economic thought Adam Smith, David RicardoAdam Smith39。 Labormarket adjustments: Since inflation allows real wages to fall even if nominal wages are kept constant, moderate inflation enables labor markets to reach equilibrium faster.Hyperinflation：hyperinflation sees a rapid and continuing increase in nominal prices and in the supply of money. In one month, the inflation is more than 50% or in one day, the inflation is more than 1%. Stop to print money.Fisher equation: i= r + π a linear approximation(三) Basic concepts：Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a year. It is often used as an indicator of a country39。l?br??m], or balanced wage.(二) Currency and inflationThe function of currency1. Store of value2. Unit of account3. Medium of exchangeThe art of currency1. Fiat money2. Commodity money3. Gold standardInflation: is a sustained increase in the general price level of goods and services in an economy over a period of time. each monetary unit buys fewer goods and services.Inflation39。l?br??m] Gleichgewicht：No matter what others do, each player has chosen a certain strategy. 例子：advertise；AdvertisementThe game of chicken:The principle of the game is that while each player prefers not to yield to the other, the worst possible oute occurs when both players do not yield.The name chicken has its origins in a game in which two drivers drive towards each other on a collision course: one must swerve, or both may die in the crash, but if one driver swerves and the other does not, the one who swerved will be called a chicken,MacroeconomicsMacroeconomics is a branch of economics dealing with the performance, structure, behavior, and decisionmaking of an economy as a whole, rather than individual markets. Macroeconomists study aggregated indicators such as unemployment, and inflation to understand how the whole economy functions. (一) Unemployment Pop = total populationLF = labor force = U + ELFpop = labor force population(generally defined as all men and women aged 15–64)p = participation rate = LF / LFpopE = number employede = rate of employment = E / LFU = number of unemployedu = rate of unemployment = U / LFNatural rate of unemployment: at the longrun level Frictional unemployment is the time period between jobs when a worker is searching for, or transitioning from one job to another. 216。s preference for buying them because they are no longer perceived as exclusive or highstatus products. ?4) Arc elasticity = average of price and demand5) Perfect substitutes6) Complementary good: is a good that has to be consumed with another good. 避開不講Utility theory： Consumer demand theory: ranking to members of a choice setCardinal Utility: marginal utilityParadox of value：Although water is on the whole more useful, in terms of survival, than diamonds, diamonds mand a higher price in the market.Ordinal utility: Each indifference curve is a set of points, each representing a bination of quantities of two goods or services, all of which binations the consumer is equally satisfied with. Market structure 1. Monopsony, when there is only one buyer in a market.2. Oligopsony, a market where many sellers can be present but meet only a few buyers.：1. Perfect petition, a theoretical market structure that features no 當(dāng)0E_d1：缺乏彈性、不富彈性，或無彈性（inelastic）252。supply expectations about future prices3) Number of suppliersA demand schedule represents the amount of some good that buyers are willing and able to purchase at various prices. Following the law of demand, the demand curve is almost always represented as downwardsloping, meaning that as price decreases, consumers will buy more of the good.The determinants of demand are:1) Ine.2) Tastes amp。 Nonrivalry: A nonrival good is a good whose consumption by one consumer cannot prevents at the same time consumption by other consumers.216。s price represents, the higher the elasticity tends to be.4. Necessity: the more necessary a good is, the lower the elasticity, as people will attempt to buy it no matter the price, such as the case of insulin for those that need it.5. Duration: for most goods, the longer a price change holds, the higher the elasticity is likely to be, as more and more consumers find they have the time and inclination(perfer) to search for substitutes. When fuel prices increase suddenly, for instance, consumers may still fill up their empty tanks in the short run, but when prices remain high over several years, more consumers will reduce their demand for fuel by switching to carpooling or public transportation, investing in vehicles with greater fuel economy or taking other measures. 6. Brand loyalty: an attachment to a certain bran7. Who pays: where the purchaser does not directly pay for the good they consum