#1 Intro to Economics

Risk

Scarcity：the tension between infinite wants and finite resources

Everything has a cost

Cost and benefits

Right policy has right incentives

Incentives 刺激: a set of external ( rather than intrinsic) motivators that explain people’s choices.

Macro-economics

Micro-economics

#2 Specialization and Trade

lower opportunity cost means competitive advantage. 就是说如果我做 A 工作，我不能做 B 工作带来的损失比其他人小，则我做 A 工作就比其他人有竞争优势。因为我跟做了 B 工作的人交换收获的损失更小。

#3 Economic Systems & Macro-economics

#4 Supply and Demand

#5 Macro-economics

#6 Inflation, Bubbles

Real price 是指根据通货膨胀率调整过的过去的价格，Nominal price 是没有经过调整的过去的价格。

Consumer Price Index

专家选取一系列能代表大众一年消费量的商品组合，基于其统计每年消费金额，观察历年金额的变化趋势。

Definition of Bubbles

Definition of Inflation