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Ekonomi 1

The document provides an introduction to economics, outlining key concepts such as scarcity, choice, and opportunity cost, and differentiates between microeconomics and macroeconomics. It also discusses the basic economic problems that nations face, including what to produce, how to produce, and for whom to produce. Additionally, it includes self-check questions to reinforce understanding of the material covered.

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12 views20 pages

Ekonomi 1

The document provides an introduction to economics, outlining key concepts such as scarcity, choice, and opportunity cost, and differentiates between microeconomics and macroeconomics. It also discusses the basic economic problems that nations face, including what to produce, how to produce, and for whom to produce. Additionally, it includes self-check questions to reinforce understanding of the material covered.

Uploaded by

strawberryshtcke
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Pengantar

Ekonomi

Monica Rosiana, S.E., M.Si.


085726003065
01. Kontrak Belajar

02. Materi 04. Apa itu Ekonomi?

03. Review
01 Kontrak Belajar
 Kehadiran dan partisipasi 10%
 Tugas/Kuis (Minggu ke-3,5,7) 15%
 UTS, UAS15%
 PBL atau CBL10%
 Man B Selasa Kuliah 16.00, batas
keterlambatan 16.15; Man A kuliah
16.00
 KKM?
 Teraversa untuk kehadiran
02. Materi
Reference: openstax macro economics (https://openstax.org/)
Check in eldiru….
• Learning Contract, Review, Macroeconomic Theory In
General.
• Economic Growth
• The Various Causes of Unemployment and Their
Solutions
• Inflation
• Calculate the Inflation Rate
• World Trade and Capital Flows
• The Concept of Money and Banks as Well as
Monetary Policy.
• The Role and Intervention of the Government in the
Economy.
2. Review
What do you know Why study economics?
about economics?

Do you know about


Who plays a role in the
scarcity? Why is it
economy?
happen?

+-The Division and


What is the different Specialization of Labor
between micro and macro?
What is Economics?

Economists study the Economics Study of how


choices we make and people use their
also the limited resources to
consequences of fulfill unlimited
these choices wants and need.

Microeconomics Macroeconomics
 study of small individual economic  studies the aggregate behavior of the
units. entire economy
 ex: households, firms and industries  ex: unemployment, inflation, GDP,
making choices. international trade, etc
Economics Resources

● Sometimes called factors of production


● Used in the production of goods and services
● Classified as land, labor, capital, and enterprise
● Scarce relative to the unlimited wants
Circular Flow Diagram
Basic Economics Concepts

1. Scarcity
— economic resources are limited compared to wants which are
unlimited
— scarcity – impossible to satisfy our unlimited wants with the
limited resources
— wants always exceed the limited resources
— Peoples’ wants are greater than the economy’s ability to produce
desirable goods & services
Basic Economics Concepts

1. Scarcity Cont.
● arises because human wants for goods &
services are infinite but the res ources
required to produce them are finite.
● a relative concept – resources are not scarce
in themselves, they are scarce in relation to
the demands placed upon them
● a universal problem as it applies to all
economies
● no country in the world has enough resources
to produce enough goods & services to
completely satisfy all the wants of its people.
● always exists and cannot be eliminated, it can
be only reduced.
Basic Economics Concepts
2. Choice
● because of scarcity, we cannot fulfill all wants and
must choose from the available alternatives.
● Choice is necessary because resources can be used
in lots of ways to make different goods & services.
● The only way unlimited wants can be reconciled with
limited resources is through choice
● As there are insufficient resources to satisfy all wants,
choices must be made at all levels i.e. individual
consumers, producers, and the government.
● As scarcity is universal, everyone must choose.

SCARCITY  CHOICES
Basic Economics Concepts

3. Opportunity Cost
— the second best alternative forgone after
making a choice.
— the second best foregone alternative.
— Example:
 Government has a piece of vacant land to be
used either to build a hospital, a school, or a
sports center (scarcity).
 Because the land is enough for only one
project, then choice must be made from the
alternatives available (choice).
 The government decides to build a hospital,
so the school must be forgone/sacrificed
(opportunity cost)
Basic Economics Concepts

3. Opportunity Cost Cont.


● Every choice involves a sacrifice or
trade-off
● Choosing more of one thing means
giving up something else in exchange
● It is a direct result of scarcity and
occurs every time choice is made
● This is a real cost, the cost of an item
not in terms of money, but in terms of
the resource, good or service that had
to be given up to obtain that item
Economic Systems

● All nations face the problem of scarcity


● They have insufficient resources to produce all the
goods & services which their citizens need and want
● An economic system is a system which attempts to
solve the basic economic problem of scarcity.
● They have to address three basic questions:
Basic Economic Problems
(Questions)
1. What to Produce?

● Means choosing the mix of goods & services to


produce
● Example: Should the economy devote resources to
health and education or defense and police?

2. How to Produce?

● Who will do the production and which method of


production will be used.
● Should the economy use labor-intensive technique
and everyone has a job or use more efficient methods
of production that involve the use of machines even if
this means fewer jobs?
3. For whom to Produce?

● Means who will consume the goods & services after


they have been produced
● How will we decide who receive the output?
● Should an economy be geared to provide goods &
services to every person as equally as possible or
should those who work hard get more?
● What is the best method of distributing products to
ensure the highest level of wants are met?
SELF-CHECK QUESTIONS
1. What is scarcity? Can you think of two causes of scarcity?
2. Residents of the town of Smithfield like to consume hams, but each ham requires 10 people
to produce it and takes a month. If the town has a total of 100 people, what is the maximum
amount of ham the residents can consume in a month?
3. A consultant works for $200 per hour. She likes to eat vegetables, but she is not very good at
growing them. Why does it make more economic sense for her to spend her time at the
consulting job and shop for her vegetables?
4. A computer systems engineer could paint his house, but it makes more sense for him to hire
a painter to do it. Explain why.
5. What would be another example of a “system” in the real world that could serve as a
metaphor for micro and macroeconomics?
6. Suppose we extend the circular flow model to add imports and exports. Copy the circular flow
diagram onto a sheet of paper and then add a foreign country as a third agent. Draw a rough
sketch of the flows of imports, exports, and the payments for each on your diagram.
7. What is an example of a problem in the world today, not mentioned in the chapter, that has an
economic dimension?
ANSWER
1. Scarcity means human wants for goods and services exceed the available supply. Supply is limited because
resources are limited. Demand, however, is virtually unlimited. Whatever the supply, it seems human nature
to want more.
2. 100 people / 10 people per ham = a maximum of 10 hams per month if all residents produce ham. Since
consumption is limited by production, the maximum number of hams residents could consume per month is
10.
3. She is very productive at her consulting job, but not very productive growing vegetables. Time spent
consulting would produce far more income than it what she could save growing her vegetables using the
same amount of time. So on purely economic grounds, it makes more sense for her to maximize her income
by applying her labor to what she does best (i.e. specialization of labor).
4. The engineer is better at computer science than at painting. Thus, his time is better spent working for pay at
his job and paying a painter to paint his house. Of course, this assumes he does not paint his house for fun!
5. There are many physical systems that would work, for example, the study of planets (micro) in the solar
system (macro), or solar systems (micro) in the galaxy (macro).
6. Draw a box outside the original circular flow to represent the foreign country. Draw an arrow from the foreign
country to firms, to represents imports. Draw an arrow in the reverse direction representing payments for
imports. Draw an arrow from firms to the foreign country to represent exports. Draw an arrow in the reverse
direction to represent payments for imports.
7. There are many such problems. Consider the AIDS epidemic. Why are so few AIDS patients in Africa and
Thankyou

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