Unit 1 Introduction to Economics - 学生阅读.docx

Unit one?Introduction to EconomicsREADING ONEIntroduction to Economics People usually ask such question----what is economics? Alfred Marshall (1842-1924), a famous economist of the past, once said: Economics is the study of mankind in the ordinary business of life; it examines that part of individual and social action which is most closely connected with the attainment and with the use of the material requisites of well-being.Nowadays, economics has been defined as the study of decision-making. It explains how human interaction within markets help people get what they want or accomplish certain goals. Basically, economics is a driving force of human interaction, which interprets people and governments’ behavior in particular ways.Therefore, economics can describe all aspects of a country’s economy, such as how a country uses its resources, how much time laborers devote to work and leisure, the outcome of investing in industries or financial products, the effect of taxes on a population, and why businesses succeed or fail. Knowledge of economics will allow us to analyze and assess the values of policies and decisions made by politicians, and it will help us to become more aware of the current and future problems of our society.As for individuals, since we are all consumers, we are interested in the goods and services which we buy and how much they cost us, and we are interested in the incomes we can earn. Even our own personal decisions are often affected by the state of the economy, so we could make better choices if we understood the way the economy operates. Everyone is affected by employment and government policies. Employment is a key aspect of any economy. One can describe employment variously to refer to the ability of an economy to put people to work. Employment, or unemployed levels of an economy, is typically determined over a specified period of time, usually one year or more depending on the circumstances. The economic system is made up of human beings a