INTRODUCTION

MPA. PHAM PHUONG THAO

 Content
v Microeconomics
• Definition
• Micro-Economics vs. Macroeconomics
• Research methods
• Research subjects

v Optimal economic choice

• Opportunity costs
• Marginal analysis
• The Production Possibilities Frontier
 COURSE ASSESSMENT
D
A
3%
16%
C
30% 60%
29% 10%

ATTENDANCE MID-TERM
FINAL
50%: 4 mini-tests Midterm test: 3 SA questions
50%: Presentation 30 MCQs+ 2 words
+ 1 word problem
problems
B Bonus: Presentation,
Attentiveness
51%
TB 8,7 8,14 6,65
I. MICROECONOMICS
WHAT IS ECONOMICS?
 Microeconomics
WHAT IS
ECONOMICS?
is the science studying how
people and society manage
and use scarce resources. Macroeconomics

scarcity
 Social science

ECONOMICS Dismal science

Quasi science
2. RESEARCH SUBJECTS

GOVERNMENT BUSINESS HOUSEHOLDS

Whether UNscarce resources
exist?
3. ECONOMIC SYSTEM
Political system
Extreme Left Left Right Extreme right
Why the planned economy
failed?
Which economy is the most
liberal?
Is market economy perfect?
4. RESEARCH METHODS
4.1. Modeling

Copyright © 2004 South-Western

4. RESEARCH METHODS DOES MONEY BRING HAPPINESS?

Annual income

Positive Level of
Not sad No
influence life
stress satisfact
ion
5. BASIC ECONOMIC ISSUES

Produce what? How to produce? Sell it to who?

II. OPTIMAL CHOICE
1. NATURE OF CHOICE

Homo Economicus Homo Emotionalis

The Homo Mindfulnus?

From Homo Economicus and Homo Emotionalis toward Homo Mindfulnus, link: https://www.juanhumbertoyoung.com/2018/03/29/homo-
economicus-homo-emotionalis-toward-homo-mindfulnus/
2. METHOD OF SELECTION Outsource your way to success
2.1 OPPORTUNITY COSTS

Jon Steinsson and Emi Nakamura

“Pay" maids to do house chores (washing, cooking) so you can have
working time = higher wages, more success in career?
https://www.nytimes.com/2013/11/10/magazine/outsource-your-way-to-success.html
2. METHOD OF SELECTION
2.2. MARGINAL COSTS
Nguồn: https://www.pandoranoise.com/post/the-economics-of-marriage

Gary Becker (1930 – 2014)

People get married to increase productivity, share
risks, better labour division, etc.