EconomicsOpportunityCost机会成本简介

EconomicsOpportunityCost机会成本简介第1页/共36页ContentsIntroductionHistoryCalculationofopportunitycostRealworldexampleWillingnesstopayAccountingcostWorkcitedSunkcostExplicit&ImplicitcostsBenchmarkYieldNote:Clickthelink第2页/共36页First:Whatiscost?Theconceptofcostisfarricherthanthedollarsandcentsyouhandoveratthecashregister.Therealcostofsomethingiswhatyoumustgiveupinordertogetit,whichisalmostalwaysmorethanjustcash.Reference:Wheelan,Charles.NakedEconomics.NewYork:Norton,2010.Print.Page11.第3页/共36页Definition

of

opportunity

costAmeasureoftheeconomiccostofusingscarceresources(FactorInputs)toproduceoneparticulargoodorserviceintermsofthealternativestherebyforegone.

Reference:ChristopherPass,BryanLowes,LeslieDavies.CollinsEconomicsDictionary.Shanghai:SHANGHAIUNIVERSITYOFFINANCEANDECONOMICSPRESS,2008.Print.Page520.第4页/共36页

Inaword——What

must

be

sacrificed

to

obtain

something.Imagescomefrom:<http:///i?tn=baiduimage&ps=1&ct=201326592&lm=-1&cl=2&nc=1&word=%E9%80%89%E6%8B%A9&ie=utf-8>第5页/共36页Whichone???Thiscatcomesfrom:</w/2012-06-13/083924584197.shtml>第6页/共36页AustrianeconomistFriedrichvonWiesercreatedthisterminhisbookTheoriedergesellschaftlichenWirtschaftin1914.HistoryofOpportunitycostReferences:Wikipedia.Nov.11.2014.<http:///wiki/Friedrich_von_Wieser>第7页/共36页FrenchclassicaleconomistFrédéricBastiatfirstmentionedtheopportunitycostinhisessay"Cequ'onvoitetcequ'onnevoitpas

(WhatIsSeenandWhatIsUnseen)

"in1848.HistoryReferences:

Wikipedia.Nov.11.2014.<http:///wiki/Fr%C3%A9d%C3%A9ric_Bastiat#.22What_is_Seen_and_What_is_Unseen.22>第8页/共36页WillingnesstopayWillingnesstopay(WTP)isthemaximumamountanindividualiswillingtosacrificetoprocureagoodoravoidsomethingundesirable.Reference:Wikipedia.Nov.11.2014.<http:///wiki/Willingness_to_accept>第9页/共36页Relationwith

ConsumersurplusEachpointonthedemandcurvethatconsumersinacertainnumberofthehighestwillingnesstopay,ifthepurchasepriceislowerthanthedemandprice(willingnesstopay),thedifferenceisthattheconsumersurplus.Reference:<http:///article/4a8f1bc8-67d5-4e04-b900-aaecd2d81829.htm>第10页/共36页Onetwothree……？？？AccountingCost第11页/共36页Accountingcost

=Accountpayments

=Haveconsumed+NotconsumedHaveconsumed＝cost+lossNotconsumed＝AssetsPerfectCompetition:Opportunitycost=AccountingcostReference:Baidu.Nov.12.2014<http:///view/315328.htm?fr=aladdin><http:///photo/3/billustration/2011/0323/34163.html>Difference:Opportunitycostswillinfluenceyourchoice.Accountingcostsareinfluencedbyyourchoice.第12页/共36页ExplicitCosts

&

ImplicitCosts

第13页/共36页ImplicitCosts&OpportunityCostsImplicitCost{opportunitycostoftimeopportunitycostoffinancialcapital第14页/共36页Relation:Economicprofit=Revenues-ExplicitCost-ImplicitCost=AccountingProfit-ImplicitCost第15页/共36页OpportunityCost=ExplicitCosts+ImplicitCostsReference:<http:///tag/%E8%B9%87%E5%86%A9%E6%AB%A4%E9%8D%8B%E3%83%A5%E5%8F%8F>第16页/共36页SunkCost

Asunkcostisaretrospective(past)costthathasalreadybeenincurredandcannotberecovered.Reference:Wikipedia.Nov.11.2014.</wiki/Sunk_costs>第17页/共36页gambleThemoneyyoulostisyoursunkcost.Themoreyoulost,themoreyouwantitback.So……SometimesweneedtoletitgoReference:<http:///share/jui19003.html>第18页/共36页BenchmarkYieldBenchmarkyielddependson:SourcesoffundsTheopportunitycostofinvestment⇘⇘⇘⇘⇘⇘

benchmarkyield>theopportunitycostofinvestment>costofcapitalProjectriskInflationrate……Reference:<http:///school/2012/0210/77015.shtml>第19页/共36页TheCalculationofOpportunityCostReference:<http:///content/2011-12-22/20111222151613710.shtml>第20页/共36页NO.1Theopportunitycostofsomeoneuseshisownmoneytosetupabusiness＝theinteresthecangetifthemoneywerelenttosomeoneelseReference:<http:///yewu3.asp>第21页/共36页NO.2Theopportunitycostofsomeoneworksasamanager（whorunshisownbusiness）＝thesalaryhecangetifheworkforsomeoneelse（company）Reference:<http:///fj/hxwh/news371159.htm>第22页/共36页NO.3Ifthemachinehasneverbeenusedbefore，theopportunitycostofusingitnow＝0Reference:<http:///tuku/201306/376614.html>第23页/共36页NO.4IfthemachinewasusedtoproducethegoodsAandgotprofits.Now,weuseittoproducethegoodB.Theopportunitycostistheprofitswecouldget,ifitstillproducesA.Reference:<http:///news/85005.html>第24页/共36页NO.5Thematerialswereboughtinbefore,andnowthepricehaschanged.Theopportunitycostistherevenuewecouldgetifwesellitnow.Reference:</shtml/gtsc/20111114/206841.shtml>第25页/共36页NO.6Theopportunitycostofusingthematerialswhichareboughtinwiththecurrentmarketprice,theemployeeswhoarehiredwithcurrentwages,andthecapitalyouborrowedwiththecurrentinterest=Theaccountingcostofthat.Reference:<http:///2013/11/30412.html>第26页/共36页NO.7Theopportunitycostofdepreciation=thefront-endvalueofthemachine–theendingvalueofitReference:<http:///tk/36578.html>第27页/共36页RealWorldExample第28页/共36页ExampleStayinChinaGoabroadReference:<http:///luoxing_summer/blog/static/163832300201110114255290/>第29页/共36页ChoiceIfwestay……Ifwegoabroad…..Reference:<http://shijue.me/zone/show_art/515d5f4ee744f93f0a001584>第30页/共36页Ifwegoabroad……

Let’sseeouropportunitycostsTime:youaregoingtopaymoretimetopasstheiBT,SAT/ACT,AP……Energy:paymoreattentiononEnglishTuition:higherRelationship:notinclosetouchMoney:wecanmakeinChinaBACK第31页/共36页WorkCited:3.Definitionofcost:Wheelan,Charles.NakedEconomics.NewYork:Norton,2010.Print.Page11.4.Definitionofopportunitycost:ChristopherPass,BryanLowes,LeslieDavies.CollinsEconomicsDictionary.Shanghai:SHANGHAIUNIVERSITYOFFINANCEANDECONOMICSPRESS,2008.Print.Page520.5.Imagescomefrom:</i?tn=baiduimage&ps=1&ct=201326592&lm=-1&cl=2&nc=1&word=%E9%80%89%E6%8B%A9&ie=utf-8>6.Thiscatcomesfrom:</w/2012-06-13/083924584197.shtml>7&8.Historyofopportunitycost:Wikipedia.Nov.11.2014.</wiki/Friedrich_von_Wieser>Wikipedia.Nov.11.2014.<http:///wiki/Fr%C3%A9d%C3%A9ric_Bastiat#.22What_is_Seen_and_What_is_Unseen.22>9.Willingnesstopay:Wikipedia.Nov.11.2014.<http:///wiki/Willingness_to_accept>10.Reference:</article/4a8f1bc8-67d5-4e04-b900-aaecd2d81829.htm>第32页/共36页12.Reference:Baidu.Nov.12.2014.<http:///view/315328.htm?fr=aladdin>

Picture:</photo/3/billustration/2011/0323/34163.html>Picture:<http:///tag/%E8%B9%87%E5%86%A9%E6%AB%A4%E9%8D%8B%E3%83%A5%E5%8F%8F>17.Reference:Wikipedia.Nov.11.2014.</wiki/Sunk_costs>18.Picture:</share/jui19003.html>19.Picture:</school/2012/0210/77015.shtml>20.Picture:</content/2011-12-22/20111222151613710.shtml>21.Pictur