Pub Date : 2020-05-19DOI: 10.1142/9789811217937_0004
• Preferences and Utility • Utility Maximization (the primal problem) • Expenditure Minimization (the dual) First we explore how consumers' preferences give rise to a utility fct which describes people's objectives. We then consider two alternative ways of attaining the consumer's optimum. Either he/she maximizes utility subject to the budget constraint or she/he minimizes expenditure subject to attaining a given utility level. The second approach (the dual to the first) is less intuitive but much more convenient when deriving further results. It is also very similar to companies' cost minimization.
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Pub Date : 2020-05-19DOI: 10.1142/9789811217937_0007
Andreas Hauskrecht
World economic growth for 2005 is projected at 4.3 percent, measured in terms of real gross domestic product (GDP). The years 2003 and 2004 had growth rates of 4.0 percent and 5.1 percent, respectively. The International Monetary Fund in Washington forecasts world economic growth for 2006 at 4.3 percent;1 this is a constant growth rate compared with 2005, still signifi cantly above the historical trend of 3 percent. The forecast predicts continuously robust economic growth for the United States, China, and India. Middle and Eastern European countries, emerging Asian, African, Latin American, and oil-exporting countries will dynamically expand economic output. Similar to previous years, the economic outlook for Europe and Japan is lackluster (see Table 1).
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Pub Date : 2020-05-19DOI: 10.1142/9789811217937_0004
• Preferences and Utility • Utility Maximization (the primal problem) • Expenditure Minimization (the dual) First we explore how consumers' preferences give rise to a utility fct which describes people's objectives. We then consider two alternative ways of attaining the consumer's optimum. Either he/she maximizes utility subject to the budget constraint or she/he minimizes expenditure subject to attaining a given utility level. The second approach (the dual to the first) is less intuitive but much more convenient when deriving further results. It is also very similar to companies' cost minimization.
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Л.И. Батудаева, Lidiya Batudaeva, Наталья Павловна Бондаренко, N. Bondarenko, Е.В. Бурденко, E. Burdenko, Валентина Громыко, V. Gromyko, Роман Владимирович Губарев, R. Gubarev, Майя Валериановна Дубовик, M. Dubovik, С А Ермолаев, S. Ermolaev, Галина Петровна Журавлева, Galina ZHuravlyeva, Ирина Юрьевна Комарова, I. Komarova, Александр Юрьевич Мясников, A. Myasnikov, А.К. Сапор, Anatoliy Sapor, Александр Викторович Селезнев, Aleksandr Z. Seleznev, Александр Сигарев, A. Sigarev, В. Л. Устюжанин, V. Ustyuzhanin, Л.Г. Чередниченко, Larisa CHyeryednichyenko, Е. В. Шавина, E. Shavina
The textbook deals with the problems of the national economy and social reproduction, the theory of economic equilibrium, the money market and monetary policy, the cyclical development of the economy, inflation, the labor market. Special attention is paid to the issues of public Finance, public debt theory, income distribution and social policy of the state. International economic relations, theoretical models of economic growth, theories of globalization and the formation of a new type of economic system are revealed. Meets the requirements of the Federal state educational standards of higher education of the last generation. For students of economic universities studying in the field of training 38.03.01 "Economics".
{"title":"Macroeconomics","authors":"Л.И. Батудаева, Lidiya Batudaeva, Наталья Павловна Бондаренко, N. Bondarenko, Е.В. Бурденко, E. Burdenko, Валентина Громыко, V. Gromyko, Роман Владимирович Губарев, R. Gubarev, Майя Валериановна Дубовик, M. Dubovik, С А Ермолаев, S. Ermolaev, Галина Петровна Журавлева, Galina ZHuravlyeva, Ирина Юрьевна Комарова, I. Komarova, Александр Юрьевич Мясников, A. Myasnikov, А.К. Сапор, Anatoliy Sapor, Александр Викторович Селезнев, Aleksandr Z. Seleznev, Александр Сигарев, A. Sigarev, В. Л. Устюжанин, V. Ustyuzhanin, Л.Г. Чередниченко, Larisa CHyeryednichyenko, Е. В. Шавина, E. Shavina","doi":"10.12737/1014614","DOIUrl":"https://doi.org/10.12737/1014614","url":null,"abstract":"The textbook deals with the problems of the national economy and social reproduction, the theory of economic equilibrium, the money market and monetary policy, the cyclical development of the economy, inflation, the labor market. Special attention is paid to the issues of public Finance, public debt theory, income distribution and social policy of the state. International economic relations, theoretical models of economic growth, theories of globalization and the formation of a new type of economic system are revealed. \u0000Meets the requirements of the Federal state educational standards of higher education of the last generation. \u0000For students of economic universities studying in the field of training 38.03.01 \"Economics\".","PeriodicalId":127965,"journal":{"name":"Economics Primer","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-09-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125348770","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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