Peran Pasar dan

Pemerintahan dalam
Perekonomian Modern
Kuliah II
Sistem Ekonomi

• Persoalan Ekonomi: Dengan

Sumberdaya yang langka,
bagaimana masyarakat
menjawab tiga pertanyaan
penting dalam ekonomi
Sistem Ekonomi

• Sistem ekonomi adalah perencanaan

dasar yang dibuat oleh masyarakat
untuk memecahkan problem ekonomi:
meliputi:

• Perekonomian Komando (Command

economies)
• Perekonomian bebas/kapitalisme
(Laissez-faire economies)
• Perekonomian Campuran (Mixed
systems)
Economic Systems

• Perekonomian Komando, Pemerintah

pusat yang mengatur perekonomian
baik secara langsung maupun tidak
langsung msl; menentukan target
output, pendapatan, harga barang
• Perekonomian bebas/kapitalisme,
individu atau perusahaan yang
menentukan dirinya tentang apa,
bagaimana dan berapa yang
diproduksi tanpa campur tangan
atau regulasi dari pemerintah
Economic Systems
• Consumer sovereignty adalah
konsumen yang memikirkan apa
yang diproduksi (tidak) dengan
memilih apa yang dibeli atau tidak
• Free enterprise: dalam sistem
pasar, produsen sendiri yang
merencakana, mengorganisasikan,
dan mengkoordinasikan tentang
produksi barang dan jasa
 Economic Systems
• Dalam perekonomi laissez-faire,
distribusi output juga ditentukan
oleh individu/perusahaan. Jumlah
yang rumah tangga peroleh
tergantung pada pendapatan dan
kekayaannya
• Dasar penenti mekanisme dalam
pasar bebas adalah harga. Price is
jumlah yang produsen jual per unit
yang mencerminkan kemampuan
masyarakat untuk membelinya
What is a Market?

A market is a mechanism through which

buyers and sellers interact to determine
prices and exchange goods and services

A market equilibrium represents a

balance among all the different
buyers and sellers
 How Markets Solve the Three
Economic Problems

• What goods and services will be

produced is determined by consumers

• How things are produced is determined

by the competition among different
producers.

• For whom things are produced----who is

consuming and how much----depends on
the supply and demand in the markets
for factors of production.
The Circular-Flow Model

The circular-flow model

adalah cara yang simpel
untuk menggambarkan
secara visual transaksi
ekonomi yang terjadi antara
rumah tangga (household)
dan perusahaan (firm) dalam
perekonomian suatu negara
The Circular-Flow Diagram
Supply Demand
Revenue Spending
Market for
Goods
Goods & Goods &
Services sold and Services
Services
bought
What
Firms How Households
For whom

Inputs for Labor, land,

production Market for and capital
Factors
Wages, rent, of Production Income
and profit
 The Circular-Flow Diagram
Firms
 Produce and sell goods and services
 Hire and use factors of production
Households
 Buy and consume goods and services
 Own and sell factors of production
The Circular-Flow Diagram

Markets for Goods & Services

 Firms sell
 Households buy
Markets for Factors of Production
 Households sell
 Firms buy
The Circular-Flow Diagram

Factors of Production
 Inputs used to produce
goods and services
 Land, labor, and capital
Trade, Money, and Capital

• An advanced economy is charaterized by an

elaborate network of trade, among individuals and
countries, that depends on great specialization and
an intricate division of labor

• Modern economies today make extensive use of

money, or the means of payments…. Money
provides the yardstick for measuring the economic
value of things and for financing trade

• Modern industrial technologies rest on the use of

vast amounts of capital: precisien machinery,
large-scale factories, and stocks of inventories
Interdependence and Trade

• Remember, economics is the

study of how societies
produce and distribute
goods in an attempt to
satisfy the wants and needs
of its members.
How do we satisfy our wants and
needs in a global?

We can be economically self-

sufficient.

We can specialize and trade with

others, leading to economic
interdependence.
 Interdependence and Trade

But, this gives rise to two

questions:

Why is interdependence the

norm?

What determines production

and trade?
Why is interdependence
the norm?

Interdependence occurs because

people are better off when they
specialize and trade with others
What determines the pattern of
production and trade?

Patterns of production
and trade are based upon
differences in
opportunity costs.
Mixed Systems,
Markets, and Governments

Since markets are not perfect,

governments intervene and often play a
major role in the economy. Some of the
goals of government are to:
• Minimize market inefficiencies
• Provide public goods
• Redistribute income
• Stabilize the macroeconomy:
• Promote low levels of unemployment
• Promote low levels of inflation
 The economic role of government
• Government increase efficiency by promoting
competition, curbing externalities like
pollution, and providing public goods

• Governments promote equity by using tax

and expenditure programs to redistribute
income toward particular groups.

• Government foster macroeconomic stability

and growth.
- reducing unemployment
- reducing inflation
- encouraging economic growth --- through
fiscal and monetary policies
EFFICIENCY

In economics, we say that an economy is producing

efficiently when it cannot make anyone economically
better off without making someone else worse off.
Perfect competition

• Perusahaan dan konsumen

adalah pengambil harga
• Barang yang diproduksi
homogen
• Bebas masuk dan keluar dari
pasar
Kegagalan pasar

• Imperfect competition
• Externalitas
• Public goods
 Government can remedy the
shortcomings of the market
Failure of market Govenrment Intervention Current axample of
economy govenrment policy
Inefficiency: Encourage competition Antitrust laws,
Monopoly Intervene in markets deregulation
Externalities Encourage beneficial Antipollution laws,
Public goods activities antismoking

Inequality: Redistribute income Progressive taxation of

Unacceptable income and wealth
inequalities of income Income-support or
and wealth transfer programs

Macroeconomic Stabilize through Monetary policies

problems: macroeconomic policies (change in money supply
Business cycle (high and interst rates)
inflation and Fiscal policies (taxes and
unemployment) spending programs)
Slow economic growth Stimulate growth Improve efficiency of
taxes system
Raise national saving
rate by reducing budget
Economic Growth

• Outward shifts of the

curve represent
economic growth.
• An outward shift
means that it is
possible to increase
the production of
one good without
decreasing the
production of the
other.
Economic Growth

• From point D,
the economy
can choose any
combination of
output between
F and G.
Economic Growth

• Not every sector

of the economy
grows at the same
rate.
• In this historic
example, productivity
increases were more
dramatic for corn than
for wheat over this time
period.