Unit-13-Economics

Unit13EconomicsLearningobjectivesInthisunityouwill:UnderstandthehistoryandcurrentsituationofworldeconomicsLearnsomeusefuleconomictermsTakeatestinfastreadingContentsBackgroundinformationWordpretestTextpresentationNotestothetextExercisesBackgroundinformationVeryShortIntroductionsVeryShortIntroductionsareforanyonewantingastimulatingandaccessiblewayintoanewsubject.Theyarewrittenbyexperts,andhavebeenpublishedinmorethan25languagesworldwide.ThetextisanexcerptfromEconomics:AVeryShortIntroduction.Economics:AVeryShortIntroductionBecky’shomeDesta’shomeBecky’sworldBecky,whois10yearsold,liveswithherparentsandanolderbrotherSaminasuburbantowninAmerica’sMidwest.Becky’sfatherworksinafirmspecializinginpropertylaw.Dependingonthefirm’sprofits,hisannualincomevariessomewhat,butisrarelybelow145,000USdollars.Becky’sworldBecky’sparentsmetatcollege.Forafewyearshermotherworkedinpublishing,butwhenSamwasbornshedecidedtoconcentrateonraisingafamily.NowthatbothBeckyandSamattendschool,shedoesvoluntaryworkinlocaleducation.Becky’sworldThefamilyliveinatwo-storeyhouse.Ithasfourbedrooms,twobathroomsupstairsandatoiletdownstairs,alargedrawing-cum-diningroom,amodernkitchen,andafamilyroominthebasement/cellar.Thereisaplotoflandattherear―thebackyard―whichthefamilyuseforleisureactivities.Desta’sworldDesta,whoisabout10yearsold,liveswithherparentsandfivesiblingsinavillageinsubtropical,southwestEthiopia.Thefamilyliveinatwo-room,grass-roofedmudhut.Desta’sworldDesta’sfathergrowsmaizeandteffonhalfahectareoflandthatthegovernmenthasawardedhim.Desta’solderbrotherhelpshimtofarmthelandandcareforthehousehold’slivestock,whichconsistofacow,agoat,andafewchickens.Thesmallquantityofteffissoldsoastoraisecashincome,butthemaizeisinlargemeasureconsumedbythehouseholdasastaple.Economics:AVeryShortIntroduction“Ifwearetounderstandourpresentlives,weshoulduncoverthepathwaysbywhichourfamiliescametoinheriteourcurrentcircumstances,thatis,theeconomichistory.Instudyinghistory,weshouldstartfromaboutthetimeagriculturecametobesettledsome11,000yearsago.”Economictermsusedinthetextmacroeconomics[uncountable]thestudyoflargeeconomicsystemssuchasthoseofawholecountryorareaoftheworld宏观经济学microeconomics:[uncountable]thestudyofsmalleconomicsystemsthatarepartofnationalorinternationalsystems微观经济学macroeconomicsmacro-:prefixtechnicallargeandconcerningawholesystemratherthanparticularpartsofit(用于某些词前构成术语)表示“大的，全面的，宏观的”e.g.macro-relationship宏观联系micro-:prefix[innouns,adjectives,andadverbs]extremelysmall(用以构成名词)微，小e.g.microwave微波，微波炉GDP(grossdomesticproduct)[Para.2,Line2][singular]thetotalvalueofallgoodsandservicesproducedinacountry,inoneyear,exceptforincomereceivedfromabroadGNP(GrossNationalProduct):thetotalvalueofallthegoodsandservicesproducedinacountry,usu.inasingleyearGDPfocusesontheplacewhereproductiontakesplacewhileGNPfocusesonownershipofthefactorsofproduction.inflation&deflation[Para.2,Lastline]inflation:[uncountable]acontinuingincreaseinprices,ortherateatwhichpricesincrease通货膨胀deflation:[uncountable]areductionintheamountofmoneyinacountry’seconomy,sothatpricesfallorstoprising通货紧缩flow&stock[Para.4,Line1]Economics,business,accounting,andrelatedfieldsoftendistinguishbetweenquantitiesthatarestocksandthosethatareflows.Theydifferintheirunitsofmeasurement.Astockvariableismeasuredatonespecifictime,andrepresentsaquantityexistingatthatpointintime,whichmayhaveaccumulatedinthepast.Aflowvariableismeasuredoveranintervaloftime.Thereforeaflowwouldbemeasuredperunitoftime(sayayear).Flowisroughlysimilartorateorspeedinthissense.流量和存量flow&stock[Para.4,Line1]Forexample,GDPreferstoatotalnumberofdollarsspentoveratimeperiod,suchasayear.Thereforeitisaflowvariable,andhasunitsofdollars/year.Incontrast,capitalstockisthetotalvalue,indollars,ofequipment,buildings,inventories,andotherrealassetsintheeconomy,andhasunitsofdollars.globalincomeperhead[Para.5,Line1]全球人均收入incomelevel(2013)[Para.6]IncomelevelAnnualpercapitaincomeMembercountriesHigh-Income$12,476ormoreMostmembersoftheOECD经济合作发展组织Richoil-producingcountriesoftheMiddleEastSmall-industrializedcountriesorregionsincomelevel(2013)[Para.6]IncomelevelAnnualpercapitaincomeMembercountriesMiddle-income$1,026—$12,475MostEastEuropeancountriesMostmembersoftheCIS大多数独联体国家SixOECDmembersManyLatinAmericancountriesSomecomparativelydevelopedcountriesInAsiaSomeAfricancountriesChinaincomelevel(2013)[Para.6]IncomelevelAnnualpercapitaincomeMembercountriesLow-Income$1,025orlessMostAfricancountriesSomeAsiancountriesAfewLatinAmericancountriesphysicalcapital[Para.7,Line3]Ineconomics,physicalcapitalorjust“capital”referstoafactorofproduction(orinputintotheprocessofproduction),suchasmachinery,buildings,orcomputers.实物资本，有形资本physicalcapital[Para.7,Line3]manufacturedcapital:[Para.9,Line2]制造资本，或人造资本(manmadecapital)humancapital:[Para.9,Line2]人力资本，指劳动者受到教育、培训、实践经验、迁移、保健等方面的投资而获得的知识和技能的积累，亦称“非物力资本”。由于这种知识与技能可以为其所有者带来工资等收益，因而形成了一种特定的资本——人力资本。factorofproduction[Para.10,Line6]生产要素（劳动力、土地、资本、资本家）productivecapitalassets[Para.10,Line7]生产性资本资产proximatecause[Para.10,Lastline]近因：保险用语，引起保险标的损失的直接的、最主要的、起决定作