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Fakultas Rekayasa Industri: Pengantar Ilmu Ekonomi (Iei2C2)
Fakultas Rekayasa Industri: Pengantar Ilmu Ekonomi (Iei2C2)
Lecture Note #1
INTRODUCTION TO ECONOMICS
CONTENS
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• The choices that people make, when added up, translate into societal
choices.
To Understand Society
To Be An Informed Citizen
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Microeconomics Macroeconomics
The branch of economics that The branch of economics that
examines the functioning of examines the economic
individual industries and the behavior of aggregates—
behavior of individual decision- income, employment, output,
making units—that is, business and so on—on a national
firms and households. scale.
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positive economics
An approach to economics that seeks to understand behavior and the
operation of systems without making judgments. It describes what
exists and how it works.
normative economics
An approach to economics that analyzes outcomes of economic
behavior, evaluates them as good or bad, and may prescribe courses of
action. Also called policy economics.
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Economic Policy
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Opportunity Cost
The concepts of constrained choice and scarcity are
central to the discipline of economics.
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absolute advantage
A producer has an absolute advantage over another in
the production of a good or service if he or she can
produce that product using fewer resources.
comparative advantage
A producer has a comparative advantage over another
in the production of a good or service if he or she can
produce that product at a lower opportunity cost.
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Figure (a) and (b) Colleen and Bill Gain from TradeBy specializing and engaging in trade, Colleen and Bill can move
beyond their own production possibilities. If Bill spends all his time producing food, he will produce 240 bushels of food
and no logs. If he can trade 140 of his bushels of food to Colleen for 100 logs, he will end up with 100 logs and 100
bushels of food. The figure in (b) shows that he can move from point F to point F'. If Colleen spends 27 days cutting logs
and 3 days producing food, she will produce 270 logs and 30 bushels of food. If she can trade 100 of her logs to Bill for
140 bushels of food, she will end up with 170 logs and 170 bushels of food. The figure in (a) shows that she can move
from point C to point C'.
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Consumer goods
Goods produced for present consumption
Investment
The process of using resources to produce new capital.
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All points below and to the left of the curve (the shaded Although an economy may be operating with full
area) represent combinations of capital and consumer goods employment of its land, labor, and capital resources, it
that are possible for the society given the resources available may still be operating inside its ppf, at a point such as
and existing technology. D. The economy could be using those resources
Points above and to the right of the curve, such as point G, inefficiently.
represent combinations that cannot be reached.
Periods of unemployment also correspond to points
If an economy were to end up at point Aon the graph, it inside the ppf, such as point D.
would be producing no consumer goods at all; all resources
would be used for the production of capital. If an economy Moving onto the frontier from a point such as
were to end up at point B, it would produce only consumer Dmeans achieving full employment of resources.
goods.
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Inefficiency
• Waste and mismanagement are the results of a firm’s operating
below its potential.
• Sometimes, inefficiency results from mismanagement of the
economy instead of mismanagement of individual private firms.
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FIGURE 2.9 Capital Goods and Growth in Poor and Rich Countries
Rich countries find it easier than poor countries to devote resources to the production of capital, and the more
resources that flow into capital production, the faster the rate of economic growth.
Thus, the gap between poor and rich countries has grown over time.
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ECONOMIC SYSTEMS
Command Economies
• An economy in which a central government either
directly or indirectly sets output targets, incomes, and
prices.
• Sistem pemerintah: Melahirkan ‘planned economy’ sistem
sosialisme atau komunisme
Laissez-faire Economies :The Free Market
• An economy in which a central government either directly or
indirectly sets output targets, incomes, and prices.
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ECONOMIC SYSTEMS
Some markets are simple and others are complex, but they all involve buyers and
sellers engaging in exchange. The behavior of buyers and sellers in a laissez-faire
economy determines what gets produced, how it is produced, and who gets it.
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ECONOMIC SYSTEMS
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ECONOMIC SYSTEMS
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ECONOMIC SYSTEMS
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ECONOMIC SYSTEMS
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ECONOMIC SYSTEMS
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ECONOMIC SYSTEMS
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ECONOMIC SYSTEMS
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