Year 13 Edexcel Economics: Key Terms Revision Guide | Edexcel 经济 Year 13：词汇术语速记指南

📚 Year 13 Edexcel Economics: Key Terms Revision Guide | Edexcel 经济 Year 13：词汇术语速记指南

Year 13 Edexcel Economics covers a vast array of concepts across micro and macro themes. To excel in essays and data-response questions, you must be able to define, apply, and evaluate key terms with precision. This bilingual guide breaks down the most essential terms by topic, pairing clear definitions with memorable shortcuts – from vivid analogies to simple acronyms. Read, recall, and reinforce your vocabulary to tackle any exam question with confidence.

Edexcel A Level 经济 Year 13 涵盖了大量微观与宏观概念。要想在论文和数据分析题中脱颖而出，你必须精准定义、应用并评估关键术语。这份双语指南按主题梳理了最重要的术语，将清晰的定义与生动的记忆捷径相结合 – 从形象类比到简单缩略词。阅读、回忆、巩固你的词汇库，自信应对任何考试题型。

1. Market Structures & Competition | 市场结构与竞争

Perfect competition: a market with many buyers and sellers, homogeneous products, perfect information, and no barriers to entry or exit. Mnemonic: P-H-E-N (Perfect info, Homogeneous, Easy entry/exit, No price setting power).

完全竞争：市场拥有众多买家和卖家、同质化产品、完全信息，且无进入或退出壁垒。记忆法：P-H-E-N（Perfect 信息、Homogeneous 同质、Easy 进出、No 定价权）。

Monopoly: a single seller dominates the market with high barriers to entry, acting as a price maker. Think of a “Monopoly king” sitting alone on the board, protected by walls.

垄断：单一卖家主导市场，拥有高进入壁垒，成为价格制定者。想象一位“垄断王”独自坐在棋盘上，身边筑有高墙。

Oligopoly: a market dominated by a few large firms, characterised by interdependence and strategic behaviour. The “Big Few” are always watching each other’s moves – remember the kinked demand curve and game theory.

寡头垄断：由少数大企业主导的市场，具有相互依赖和策略性行为特征。“少数巨头”时刻关注彼此举动 – 想起弯折需求曲线和博弈论。

Collusion: an agreement between firms to fix prices, limit output, or share markets. “Co-llusion = Co-operating in secret” – often illegal.

合谋：企业间就固定价格、限制产量或瓜分市场达成的协议。“合谋 = 秘密合作” – 通常是违法的。

Nash equilibrium: a situation in game theory where each player’s strategy is optimal given the strategies of others. “No one wants to NAsh away” once an equilibrium is reached.

纳什均衡：博弈论中，在给定其他参与者策略下，每个玩家所选策略均为最优。均衡一旦达成，“没人想离均衡”。

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2. Labour Markets & Wage Determination | 劳动力市场与工资决定

Marginal Revenue Product (MRP): the extra revenue a firm gains from employing one more unit of labour. “More Revenue Please” – it’s MRP that drives labour demand.

边际收益产品 (MRP)：企业多雇佣一单位劳动力所增加的额外收益。“更多收益请来” – MRP 驱动着劳动力需求。

Monopsony: a single buyer of labour, possessing wage-setting power. Think of a “Mono-sponge” soaking up labour and squeezing wages down.

买方垄断：劳动力市场上的唯一买家，拥有工资设定权。想象一块“单海绵”吸收劳动力并压低工资。

Bilateral monopoly: a market with one seller (trade union) and one buyer (employer’s association). Wages are determined by “Bilateral bargaining power”.

双边垄断：一个卖家（工会）与一个买家（雇主协会）并存的市市场。工资由“双边议价能力”决定。

Wage differentials: differences in wages across industries, regions, or skills. Acronym “S-C-R-I-P-T”: Supply/demand, Compensating differentials, Regulations, Information, Productivity, Trade unions.

工资差异：不同行业、地区或技能间的工资差别。缩略词 “S-C-R-I-P-T”：供给/需求、补偿性差异、规制、信息、生产率、工会。

Human capital: the stock of skills, knowledge, and experience that workers possess. “Capital in your head” increases MRP and earning potential.

人力资本：工人所拥有的技能、知识和经验的存量。“脑袋里的资本”能提高 MRP 和收入潜力。

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3. Consumer & Producer Surplus | 消费者与生产者剩余

Consumer surplus: the difference between what consumers are willing to pay and what they actually pay. Visualise the “Happiness triangle” above the price line.

消费者剩余：消费者愿意支付的价格与实际支付价格之间的差额。想象价格线上方的“幸福三角”。

Producer surplus: the difference between the price producers receive and the minimum price they are willing to accept. The “Profit triangle” below the price line.

生产者剩余：生产者获得的价格与其愿意接受的最低价格之间的差额。价格线下方的“利润三角”。

Deadweight loss: a loss of economic efficiency that occurs when equilibrium is not achieved or is distorted. “Dead Weight” – the welfare that nobody gets.

无谓损失：当均衡未能实现或被扭曲时造成的经济效率损失。“无谓重量” – 无人获得的那部分福利。

Allocative efficiency: the optimal distribution of resources where consumer and producer surplus are maximised. Occurs when P = MC, i.e. “Price matches the true cost”.

配置效率：消费者与生产者剩余最大化的最优资源配置。发生在 P = MC 时，即“价格等于真实成本”。

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4. Macroeconomic Objectives & Policy Trade-offs | 宏观经济目标与政策权衡

Phillips curve: an inverse relationship between unemployment and inflation in the short run. “Low U, High π” – imagine a see-saw.

菲利普斯曲线：短期内失业与通胀之间的反向关系。“低失业，高通胀” – 想象一台跷跷板。

NAIRU: Non-Accelerating Inflation Rate of Unemployment – the unemployment rate at which inflation is stable. “No-Acceleration” signals a steady state.

NAIRU：非加速通胀失业率 – 通胀稳定时的失业率水准。“不加速”意味着稳定状态。

Stagflation: a combination of stagnant economic growth, high unemployment, and high inflation. Remember it as “Stagnation + Inflation = Stagflation”, a nightmare for policymakers.

滞胀：经济增长停滞、高失业与高通胀并存的现象。记为“停滞 + 通胀 = 滞胀”，是政策制定者的噩梦。

Automatic stabilisers: fiscal mechanisms like progressive taxes and welfare benefits that automatically dampen economic fluctuations. “Auto-pilot” for government finances.

自动稳定器：如累进税和福利支出等财政机制，能自动减缓经济波动。政府财政的“自动驾驶仪”。

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5. International Trade & Exchange Rates | 国际贸易与汇率

Comparative advantage: a country’s ability to produce a good at a lower opportunity cost than another country. “Compare the cost of what you give up” – the basis for specialisation and trade.

比较优势：一国以比另一国更低的机会成本生产某种商品的能力。“比较放弃的成本” – 专业化与贸易的基础。

Terms of trade: the ratio of export prices to import prices (×100). “Export price ÷ Import price” – rising terms of trade mean you can buy more imports with each unit of exports.

贸易条件：出口价格与进口价格之比（×100）。“出口价 ÷ 进口价” – 贸易条件上升意味着每单位出口可换得更多进口品。

Marshall-Lerner condition: depreciation improves the trade balance if the sum of price elasticities of demand for exports and imports is greater than 1. “M-L > 1” for a successful devaluation.

马歇尔-勒纳条件：若进出口需求的价格弹性之和大于1，则本币贬值可改善贸易收支。“M-L > 1” 贬值才有效。

J-curve: the short-term worsening of the trade balance following a depreciation, before it eventually improves. The graph looks like the letter “J” – first down, then up.

J曲线：本币贬值后，短期内贸易收支先恶化再逐渐改善的现象。图形像字母 “J” – 先下后上。

Purchasing Power Parity (PPP): a theory stating that exchange rates should adjust to equalise the price of a basket of goods across countries. The “Big Mac Index” is a fun way to test it.

购买力平价 (PPP)：一种认为汇率应调整以使各国一篮子商品价格相等的理论。“巨无霸指数”是趣味化检验法。

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6. Economic Development & Poverty | 经济发展与贫困

Human Development Index (HDI): a composite measure of life expectancy, education, and income per capita. Remember the three “L-E-I” – Longevity, Education, Income.

人类发展指数 (HDI)：衡量预期寿命、教育和人均收入的综合指标。记住三个字母“L-E-I” – 长寿、教育、收入。

Lorenz curve: a graphical representation of income distribution; the further it bows from the 45° line, the more unequal the distribution. Think of a “bowed-out bow”.

洛伦兹曲线：收入分配的图形表示；离45°线越弯曲，分配越不平等。想象一把“绷弯的弓”。

Gini coefficient: a numerical measure of inequality (0 = perfect equality, 1 = maximum inequality). “Gini = Gap” between the line of equality and the Lorenz curve.

基尼系数：衡量不平等程度的数值（0=完全平等，1=完全不平等）。“基尼 = 差距”，即平等线与洛伦兹曲线间的面积。

Poverty trap: a self-reinforcing cycle where low income leads to poor health and education, perpetuating poverty. “Trapped by low income”, escaping requires structural intervention.

贫困陷阱：低收入导致健康与教育落后，进而延续贫困的自我强化循环。“被低收入困住”，逃脱需要结构性干预。

Microfinance: small loans and financial services for poor entrepreneurs with no collateral. “Micro-loans, macro-impact” – empowers borrowers to start businesses.

小额信贷：向无抵押品的贫困创业者提供的小额贷款与金融服务。“小贷款，大影响” – 赋能借贷者创业。

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7. Financial Markets & Monetary Policy | 金融市场与货币政策

Quantitative Easing (QE): a central bank asset purchase programme that injects liquidity into the economy to stimulate spending. Think of it as “Currency from thin air” to buy government bonds.

量化宽松 (QE)：央行通过购买资产向经济注入流动性以刺激支出的政策。想象为“凭空创造货币”来购买国债。

Liquidity trap: a situation where interest rates are so low that monetary policy becomes ineffective, as people prefer to hoard cash. “Stuck in the liquid” – no more room for rate cuts.

流动性陷阱：利率极低，人们宁愿持有现金，致使货币政策失效的情形。“困在液体中” – 降息空间耗尽。

Monetary policy transmission mechanism: the chain of events through which a change in the interest rate affects aggregate demand. Pathway: “Rate → Asset prices → Wealth → Spending → AD”.

货币政策传导机制：利率变化影响总需求的一系列事件链。路径：“利率 → 资产价格 → 财富 → 支出 → 总需求”。

Forward guidance: central bank communication about future policy intentions to shape expectations. “Future signals now” help stabilise markets.

前瞻性指引：央行对未来政策意图的沟通，以引导市场预期。“此刻的未来信号”有助于稳定市场。

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8. Fiscal & Supply-side Policies | 财政与供给侧政策

Fiscal multiplier: the ratio of a change in national income to the change in government spending that causes it. Formula: 1 / (1 – MPC) or 1 / MPW. “Spending ripples” amplify the initial injection.

财政乘数：国民收入变化与引起该变化的政府支出变化之比。公式：1 / (1 – MPC) 或 1 / MPW。“支出涟漪”放大初始注入。

Laffer curve: shows the relationship between tax rates and total tax revenue; too high a rate may reduce revenue. The shape is a “hump” – remember “if you tax too much, you get less”.

拉弗曲线：显示税率与税收总收入之间的关系；过高税率反而减少收入。形状如“驼峰” – 记住“税率过高，收入反降”。

Supply-side policies: measures to increase the productive capacity of the economy, e.g. education, training, deregulation. “Shift LRAS to the right” – think of expanding the economy’s engine.

供给侧政策：旨在提高经济产能的措施，如教育、培训、放松管制。“将LRAS曲线右移” – 好比扩大经济引擎。

Deregulation: the removal of rules and restrictions to promote competition and efficiency. “De-regulate = De-restrict” – freeing up markets.

放松管制：取消规则与限制以促进竞争和效率。“去管制 = 解除束缚” – 释放市场活力。

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9. Market Failure & Government Intervention | 市场失灵与政府干预

Externality: a spillover effect on third parties not reflected in market prices. “External” impact – negative like pollution, positive like vaccination.

外部性：未被市场价格反映的第三方溢出效应。“外部”影响 – 负的如污染，正的如疫苗接种。

Public good: non-rival and non-excludable, leading to the free-rider problem. Think “Lighthouse – you can’t stop ships seeing the light” (non-excludable).

公共品：非竞争性和非排他性，易导致搭便车问题。想想“灯塔 – 你无法阻止船只看到灯光”（非排他性）。

Information asymmetry: when one party has more or better information than the other, leading to adverse selection or moral hazard. “Asymmetry = Unequal knowledge”.

信息不对称：一方比另一方拥有更多或更优信息，导致逆向选择或道德风险。“不对称 = 知识不平等”。

Pigouvian tax: a tax levied on a good equal to the marginal external cost, intended to internalise the externality. “Pigou-vian tax makes the polluter pay” – aligning private and social costs.

庇古税：对商品征收的等于边际外部成本的税，旨在将外部性内部化。“庇古税让污染者付费” – 使私人成本与社会成本一致。

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10. Globalisation & Financial Crisis | 全球化与金融危机

Foreign Direct Investment (FDI): investment by a multinational corporation in physical capital in a foreign country. “Factory in a Foreign land” – long-term and controlling stake.

外国直接投资 (FDI)：跨国公司在外国进行的实物资本投资。“异国工厂” – 长期且拥有控股权益。

Systemic risk: the risk that the failure of one financial institution may trigger a chain reaction and collapse the entire system. “One domino knocks the rest” – too interconnected to fail alone.

系统性风险：一家金融机构倒闭可能引发连锁反应，导致整个系统崩溃的风险。“一块多米诺骨牌推倒全部” – 关联太紧密，难以独善其身。

Moral hazard: a situation where a party is more likely to take risks because the negative consequences will be borne by others. “Insured drivers drive faster” – a classic scenario.

道德风险：一方因负面后果由他人承担而更倾向冒险的情形。“买保险的司机开得更猛” – 经典情境。

Too-big-to-fail: the idea that certain financial institutions are so large that their failure would be catastrophic, prompting government bailouts. “Big banks get big cheques” – creating moral hazard.

大而不倒：某些金融机构规模过于庞大，其倒闭会带来灾难性后果，因此政府不得不救助。“大银行拿大支票” – 滋生道德风险。

Published by TutorHao | Economics Revision Series | aleveler.com

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