Transcript Chapter 1: The Scope and Method of Economics

CHAPTER
1
Pengantar Ilmu Ekonomi
edy suandi hamid
(lectures note)
Prepared by: edy suandi hamid
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair
Referensi
1. Karl E. Case dab Ray C. Fair, Principle of
Macroeconomics, cetakan ke-5 (atau terakhir), 1999
2. P.A. Samuelson and William D Nordhaus, Economics,
cetakan ke-16, McGrawhill
3. Boediono, Ekonomi Makro, BPFE Yogyakarta
4. Aried wijaya, Ekonomika Makro
5. Ace Partadireja, Perhitungan Pendapatan Nasional,
LP3ES
6. Sadono Sukirno, Pengantar Teori Makro Ekonomi, UI
Press
7. Lain-lain yang relevan!!
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair
Munculnya Ekonomi Moderen
• Ditandai dgn Buku Adam Smith (1776) berjudul
“An Inquiry into the Nature of the Wealth of the
Nations”
• Buku ini memfokuskan pada Ekonomi Mikro
AS: penggagas dari Ekonomi Mikro:
membahas prilaku unit ekonomi individual
(pasar, perusahan, rumahtangga, faktor
produksi, harga, dsb)
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair
• Perkembangan teori ekonomi moderen sangat
pesat setelah munculnya tulisan AS tsb. Ini
ditandai dari artikel dan buku2 yg ditulis oleh
Alfred Marshall, David ricardo, JM Mills, Karl
Marx, Wlaras, JM Keynes, dsb.
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair
Apa yg dipelajari oleh Ekonom?
• Aspek yg dipelajari: Uang, produksi, konsumsi, distribusi
brg dan jasa, pembangunan, dsb-nya.
• Mempelajari bgmn harga tanah, modal dan tenagakerja
terbentuk dlm perekonomian, dan bgmn harga tsb
mengalokasikan sumberdaya
• Menyelidiki prilaku pasar uang
• Manganalisis akibat dari kebijakan pemerintah pada
efisiens pasar
• Menganalisis distribusi pendapatan
• Menganalisi dampak pengeluaran pemrth
• Menganalisis pola perdagangan dsbnya.
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair
Pengertian Ilmu Ekonomi
1.
Ilmu yg mempelajari bagaimana manusia
mengalokasikan sumberdaya yg langka utk
menghasilkan komoditi yg diinginkan, dan
mendistribsikannya ke masyarakat.
2.
Ilmu yg mempelajari tingkah laku manusia dalam
mengalokasikan sumber2 alam secara efisien
3.
Ilmu yg mempelajari tindakan/aktivitas manusia yg
ditimbulkan karena keterbatasan sbrdaya dan adanya
kegunaan alternatif sbrdaya tsb, utk memenuhi
kebutuhan manusia agar dicapai kepuasan optimal
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Principles of Economics, 6/e
Karl Case, Ray Fair
Three Basic Questions
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Principles of Economics, 6/e
Karl Case, Ray Fair
Gambar tsb menunjukkan bgmn pasar menjawab
tiga pertanyaan dasar ekonomi.
1. Apa yg akan diproduksi?
Ditentukan oleh penilaian konsumen atas barang
yg diminta (demand) dibandingkan dg
penawarannya (opportunity cost)
Apabila permintaan barang tsb lebih
dibandingkan penawaran Diproduksi
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
besar
Karl Case, Ray Fair
Bagaimana Menghasilkan Barang tsb?
Ini ditentukan oleh prilaku produsen
•Produsen akan mencari metode produks
yg paling rendah biayanya sehingga bisa
meningkatkan keuntungan
•Adanya persaingan menyebabkan
harga tidak terlalu jauh menyimpang
dari biaya produksinya
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Principles of Economics, 6/e
Karl Case, Ray Fair
Untuk siapa komoditi dihasilkan?
• Barang yg dihasilkan dialokasikan utk konsumen
yg mau membayar pada harga yg ditetapkan
• Krn daya beli berbeda  pasar akan
menimbulkan ketidakmerataan dalam distribusi
barang/jasa
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Principles of Economics, 6/e
Karl Case, Ray Fair
Ekonomi Normatif dan Positif
• Ilmu Ekonomi Positif: membahas ttg apa dan
bagaimana senyatanya masalah2 ekonomi
dipecahkan.
• Menjelaskan fakta-fakta ekonomi
• Menjelaskan: apa yg terjadi; apa yg akan
terjadi; apa implikasi kebijakan pemerintah
Misal: Inflasi akan lebih dari 10%; pengangguran
akan meningkat; Jika pajak meningkat,
konsumsi akan turun
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Karl Case, Ray Fair
IE Normatif
Mempelajari ttg apa yg seharusnya terjadi, atau
bgmn seharusnya masalah ek rakyat
dipecahkan
Menyangkut masalah etika dan nilai
Misal: pemerataan hrs ditingkatkan;
Pemerintah hrs menurunkan inflasi; kebijakan
pemerintah hrs memperkecil pengangguran
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Principles of Economics, 6/e
Karl Case, Ray Fair
Cabang Utama Ekonomi
•
Secara grs besar ada 2 cabang IE
1. Ilmu Ekonomi Makro: Mempelajari aktivitas ek
secara keseluruhan (nasional, global) 
agregatif
Misalnya: pertumbuhan ek; inflasi; neraca
pembayaran; investasi dsbnya
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair
• 2. Ilmu Ekonomi Mikro: mempelajari aktivitas
prilaku ekonomi individual, atau bagian atau unit
kecil perekonomian: permintaan dan penawaran
individual atau perusahaan
• Harga mobil; penawaran minyak; permintaan
tenaga kerja dsbnya
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Principles of Economics, 6/e
Karl Case, Ray Fair
Macroeconomics
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Principles of Economics, 6/e
Karl Case, Ray Fair
The Roots of Macroeconomics
• The Great Depression was a
period of severe economic
contraction and high
unemployment that began in 1929
and continued throughout the
1930s.
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Principles of Economics, 6/e
Karl Case, Ray Fair
The Roots of Macroeconomics
• Classical economists applied
microeconomic models, or “market
clearing” models, to economy-wide
problems.
• The failure of simple classical models
to explain the prolonged existence of
high unemployment during the Great
Depression provided the impetus for
the development of macroeconomics.
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair
Recent Macroeconomic History
• In 1936, John Maynard Keynes published The
General Theory of Employment, Interest, and
Money.
• Keynes believed governments could intervene
in the economy and affect the level of output
and employment.
• Fine-tuning was the phrase used by Walter
Heller to refer to the government’s role in
regulating inflation and unemployment.
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair
Macroeconomic Concerns
• Three of the major concerns of
macroeconomics are:
• Inflation
• Output growth
• Unemployment
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Principles of Economics, 6/e
Karl Case, Ray Fair
Inflation
• Inflation is an increase in the overall price level.
• Hyperinflation is a period of very rapid
increases in the overall price level.
Hyperinflations are rare, but have been used to
study the costs and consequences of even
moderate inflation.
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair
Output Growth
• The business cycle is the cycle of short-term
ups and downs in the economy.
• The main measure of how an economy is doing
is aggregate output:
• Aggregate output is the total quantity of goods and
services produced in an economy in a given period.
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair
Output Growth
• A recession is a period during which
aggregate output declines. Two
consecutive quarters of decrease in
output signal a recession.
• A prolonged and deep recession
becomes a depression.
• The size of the growth rate of output
over a long period is also a concern of
macroeconomists and policy makers.
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair
Unemployment
• The unemployment rate is the percentage of
the labor force that is unemployed.
• The unemployment rate is a key indicator of the
economy’s health.
• The existence of unemployment seems to imply
that the aggregate labor market is not in
equilibrium. Why do labor markets not clear
when other markets do?
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Principles of Economics, 6/e
Karl Case, Ray Fair
Government in the Macroeconomy
• There are three kinds of policy
that the government has used to
influence the macroeconomy:
1. Fiscal policy
2. Monetary policy
3. Growth or supply-side policies
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Principles of Economics, 6/e
Karl Case, Ray Fair
Government in the Macroeconomy
• Fiscal policy refers to government
policies concerning taxes and
expenditures.
• Monetary policy consists of tools used
by the Federal Reserve to control the
money supply.
• Growth policies are government policies
that focus on stimulating aggregate
supply instead of aggregate demand.
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Principles of Economics, 6/e
Karl Case, Ray Fair
The Components of the Macroeconomy
• Everyone’s
expenditures go
somewhere. Every
transaction must
have two sides.
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Principles of Economics, 6/e
Karl Case, Ray Fair
The Three Market Arenas
• Households, firms, the government, and the rest of the
world all interact in the goods-and-services, labor, and
money markets.
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Principles of Economics, 6/e
Karl Case, Ray Fair
The Three Market Arenas
• Households and the government purchase
goods and services (demand) from firms in
the goods-and services market, and firms
supply to the goods and services market.
• In the labor market, firms and government
purchase (demand) labor from households
(supply).
• The total supply of labor in the economy
depends on the sum of decisions made by
households.
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Principles of Economics, 6/e
Karl Case, Ray Fair
The Three Market Arenas
• In the money market—sometimes called
the financial market—households purchase
stocks and bonds from firms.
• Households supply funds to this market in
the expectation of earning income, and also
demand (borrow) funds from this market.
• Firms, government, and the rest of the world
also engage in borrowing and lending,
coordinated by financial institutions.
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Principles of Economics, 6/e
Karl Case, Ray Fair
Financial Instruments
• Treasury bonds, notes, and bills
are promissory notes issued by the
federal government when it borrows
money.
• Corporate bonds are promissory
notes issued by corporations when
they borrow money.
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair
Financial Instruments
• Shares of stock are financial
instruments that give to the holder a
share in the firm’s ownership and
therefore the right to share in the
firm’s profits.
• Dividends are the portion of a
corporation’s profits that the firm
pays out each period to its
shareholders.
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair
Economic Growth
•
Outward shifts of the
curve represent
economic growth.
•
To increase the production
of one good without
decreasing the production of
the other, the PPF curve
must shift outward.
From point D, the
economy can choose any
combination of output
between F and G.
•
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair
Economic Growth
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•
Not every sector of the
economy grows at the
same rate.
•
In this historic example,
productivity increases
were more dramatic for
corn than for wheat over
the 50-year period.
Principles of Economics, 6/e
Karl Case, Ray Fair
The Economic Problem
• The economic problem: Given scarce resources,
how, exactly, do large, complex societies go about
answering the three basic economic questions?
• Economic systems are the basic arrangements
made by societies to solve the economic problem.
They include:
• Command economies
• Laissez-faire economies
• Mixed systems
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair
The Economic Problem
• In a command economy, a central government either
directly or indirectly sets output targets, incomes, and
prices.
• In a laissez-faire economy, literally from the French:
“allow (them) to do,” individual people and firms
pursue their own self-interests without any central
direction or regulation. The central institution of a
laissez-faire economy is the free-market system.
• A market is the institution through which buyers and
sellers interact and engage in exchange.
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair
Laissez-Faire Economies:
The Free Market
• Consumer sovereignty is the idea that
consumers ultimately dictate what will be
produced (or not produced) by choosing what
to purchase (and what not to purchase).
• Free enterprise: under a free market
system, individual producers must figure out
how to plan, organize, and coordinate the
production of products and services.
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair
Laissez-Faire Economies:
The Free Market
• The distribution of output is also determined
in a decentralized way. The amount that any
one household gets depends on its income
and wealth.
• The basic coordinating mechanism in a free
market system is price. Price is the amount
that a product sells for per unit. It reflects what
society is willing to pay.
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair
Mixed Systems, Markets, and
Governments
Markets are not perfect, and governments play a
major role in all economic systems in order to:
• Minimize market inefficiencies
• Provide public goods
• Redistribute income
• Stabilize the macroeconomy
• Promote low levels of unemployment
• Promote low levels of inflation
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair
The Method of Economics
• Normative economics, also called policy
economics, analyzes outcomes of economic
behavior, evaluates them as good or bad, and
may prescribe courses of action.
• Positive economics studies economic
behavior without making judgments. It
describes what exists and how it works.
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair
Economic Policy
Criteria for judging economic outcomes:
• Efficiency, or allocative efficiency. An efficient
economy is one that produces what people want
at the least possible cost.
• Equity, or fairness of economic outcomes.
• Growth, or an increase in the total output of an
economy.
• Stability, or the condition in which output is steady
or growing, with low inflation and full employment
of resources.
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair
Ekonomi Pembangunan
© 2002 Prentice Hall Business Publishing
Principles of Economics, 6/e
Karl Case, Ray Fair