Microeconomics: Ten Lectures

Author: Mao Yushi
Publisher:
Publish Date: 2004-08-01
Features: I prepared this economics lecture notes, striving to make them suitable for readers of all levels. As an introductory reading, it can provide a general understanding of economics: as an intermediate reading, it can offer further insights. Reading it once can be rewarding, and reading it again can bring new perspectives. To truly understand a theory, the best method is to rediscover it yourself. In other words, suppose you are the founder of this theory—how would you derive it from the original materials, what difficulties would you overcome, and how would you make it more logically complete and unassailable? The goal of economics is to maximize economic output under resource constraints, and conversely, it can also be said that we should minimize resource use at a certain level of output. This concept has significant practical implications. Take China's economic reform as an example. While most people believe its goal is to expand our economic output, it should also be understood this way: setting our economic output at a certain level and finding ways to minimize institutional costs.