《经济学原理》英文版完整讲义丛externalities课件.ppt
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1、路漫漫其悠远路漫漫其悠远2022-8-9曼昆经济学原理英文版完整讲义丛externalities曼昆曼昆经济学原理经济学原理英英文版完整讲义丛文版完整讲义丛externalities路漫漫其悠远路漫漫其悠远曼昆经济学原理英文版完整讲义丛externalities10Externalities 路漫漫其悠远路漫漫其悠远曼昆经济学原理英文版完整讲义丛externalities Recall:Adam Smiths“invisible hand”of the marketplace leads self-interested buyers and sellers in a market to max
2、imize the total benefit that society can derive from a market.But market failures can still happen.路漫漫其悠远路漫漫其悠远曼昆经济学原理英文版完整讲义丛externalitiesEXTERNALITIES AND MARKET INEFFICIENCY An externality refers to the uncompensated impact of one persons actions on the well-being of a bystander.Externalities cau
3、se markets to be inefficient,and thus fail to maximize total surplus.路漫漫其悠远路漫漫其悠远曼昆经济学原理英文版完整讲义丛externalitiesEXTERNALITIES AND MARKET INEFFICIENCY An externality arises.when a person engages in an activity that influences the well-being of a bystander and yet neither pays nor receives any compensati
4、on for that effect.路漫漫其悠远路漫漫其悠远曼昆经济学原理英文版完整讲义丛externalitiesEXTERNALITIES AND MARKET INEFFICIENCY When the impact on the bystander is adverse,the externality is called a negative externality.When the impact on the bystander is beneficial,the externality is called a positive externality.路漫漫其悠远路漫漫其悠远曼昆
5、经济学原理英文版完整讲义丛externalitiesEXTERNALITIES AND MARKET INEFFICIENCY Negative Externalities Automobile exhaust Cigarette smoking Barking dogs(loud pets)Loud stereos in an apartment building路漫漫其悠远路漫漫其悠远曼昆经济学原理英文版完整讲义丛externalitiesEXTERNALITIES AND MARKET INEFFICIENCY Positive Externalities Immunizations R
6、estored historic buildings Research into new technologies曼昆经济学原理英文版完整讲义丛externalitiesFigure 1 The Market for AluminumCopyright 2004 South-WesternQuantity ofAluminum0Price ofAluminumEquilibriumDemand(private value)Supply(private cost)QMARKET路漫漫其悠远路漫漫其悠远曼昆经济学原理英文版完整讲义丛externalitiesEXTERNALITIES AND MA
7、RKET INEFFICIENCY Negative externalities lead markets to produce a larger quantity than is socially desirable.Positive externalities lead markets to produce a larger quantity than is socially desirable.路漫漫其悠远路漫漫其悠远曼昆经济学原理英文版完整讲义丛externalitiesWelfare Economics:A Recap The Market for Aluminum The quan
8、tity produced and consumed in the market equilibrium is efficient in the sense that it maximizes the sum of producer and consumer surplus.If the aluminum factories emit pollution(a negative externality),then the cost to society of producing aluminum is larger than the cost to aluminum producers.路漫漫其
9、悠远路漫漫其悠远曼昆经济学原理英文版完整讲义丛externalitiesWelfare Economics:A Recap The Market for Aluminum For each unit of aluminum produced,the social cost includes the private costs of the producers plus the cost to those bystanders adversely affected by the pollution.曼昆经济学原理英文版完整讲义丛externalitiesFigure 2 Pollution an
10、d the Social OptimumCopyright 2004 South-WesternEquilibriumQuantity ofAluminum0Price ofAluminumDemand(private value)Supply(private cost)SocialcostQOPTIMUMOptimumCost ofpollutionQMARKET路漫漫其悠远路漫漫其悠远曼昆经济学原理英文版完整讲义丛externalitiesNegative Externalities The intersection of the demand curve and the social-c
11、ost curve determines the optimal output level.The socially optimal output level is less than the market equilibrium quantity.路漫漫其悠远路漫漫其悠远曼昆经济学原理英文版完整讲义丛externalitiesNegative Externalities Internalizing an externality involves altering incentives so that people take account of the external effects of
12、 their actions.路漫漫其悠远路漫漫其悠远曼昆经济学原理英文版完整讲义丛externalitiesNegative Externalities Achieving the Socially Optimal Output The government can internalize an externality by imposing a tax on the producer to reduce the equilibrium quantity to the socially desirable quantity.路漫漫其悠远路漫漫其悠远曼昆经济学原理英文版完整讲义丛externa
13、litiesPositive Externalities When an externality benefits the bystanders,a positive externality exists.The social value of the good exceeds the private value.路漫漫其悠远路漫漫其悠远曼昆经济学原理英文版完整讲义丛externalitiesPositive Externalities A technology spillover is a type of positive externality that exists when a fir
14、ms innovation or design not only benefits the firm,but enters societys pool of technological knowledge and benefits society as a whole.曼昆经济学原理英文版完整讲义丛externalitiesFigure 3 Education and the Social OptimumCopyright 2004 South-WesternQuantity ofEducation0Price ofEducationDemand(private value)Socialval
15、ueSupply(private cost)QMARKETQOPTIMUM路漫漫其悠远路漫漫其悠远曼昆经济学原理英文版完整讲义丛externalitiesPositive Externalities The intersection of the supply curve and the social-value curve determines the optimal output level.The optimal output level is more than the equilibrium quantity.The market produces a smaller quantit
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