世新大學九十二學年度研究所博、碩士班考試

                                              

學系別

考試科目

經濟學系

英文

 

Ａ. 英翻中（可以直譯或意譯，但漏譯會被扣分）

 

A1 (30%)

    After decades of fiscal deficits, the contemporary consensus is that deficits are bad.  Wisdom becomes conventional, because it is correct most of the time. But that qualifier “conventional” is used for a reason.  Occasionally, conventional wisdom is foolish. Today is one of those times.

    To understand why, consider a closed company, with a private sector and a public sector.  Think of this as the world as a whole.  Each of these sectors earns income that it spends on consumption or investment.  If a sector has more income than it spends, it has a financial surplus, which it transfers, via financial intermediaries, to sectors that spend more than their income.  Claim (and corresponding liabilities) accumulate.  In aggregate, sectoral financial surpluses must always balance deficits.  The big question in macroeconomics, as John Maynard Keynes showed, is whether that balance is reached at satisfactory levels of activity.

    With the private sector making retrenchment now, it becomes desirable for the public sector to do exactly the opposite.  If the governments try to keep their deficits down when the private sector is trying to do the same, the result can only be recession, perhaps a depression.  It would be crazy to try, a point many central bankers fail to grasp.

 

A2 (30%)

     All economic questions arise because we want more than we can get.  We want a peaceful and secure world.  We want clean air, lakes, and rivers.  We want long and healthy lives.  We want good schools, colleges, and universities.  We want an enormous range of sports and recreational gear from running shoes to jet skis.  We want the time to enjoy sports, games, novels, movies, music, travel, and hanging out with our friend. 

    What each one of us can get is limited by time, by the incomes we earn, and by the prices we must pay.  Everyone ends up with some unsatisfied wants.  What as a society we can get is limited by our productive resources.  Theses resources include the gifts of nature, human labor and ingenuity, and tools and equipment that have produced.  Our inability to satisfy all our wants is called scarcity.  The poor and the rich alike face scarcity.  A child wants a $2.00 can of soda and two $1.00 packs of gum but has only $2.00 in his pocket.  He faces scarcity.  A millionaire wants to spend the weekend playing golf and spend the same weekend at the office attending a business strategy meeting.  She faces scarcity.  A society wants to provide improved health care, install a computer in every classroom, explore space, clean polluted lakes and rivers, and so on.  Even parrots face scarcity!

    Faced with scarcity, we must make choices.  We must choose among the available alternatives.  The child must choose the soda or the gum.  The millionaire must choose the golf game or the meeting.  As a society, we must chose among health care, national defense, the environment, and so on.

 

Ｂ.　中翻英　

B1 (20%)

    二次大戰後，世界貨幣主管機關及總體經濟研究機構，關心的一直是通貨膨脹，而不是通貨緊縮。但在眼前全球經濟的發展上，除了少數幾個發展中的經濟體有通膨的壓力外，大家對未來擔憂的都是一個新的議題──通貨緊縮。

　　通貨緊縮代表物價持續下降。在這樣的趨勢下，消費者覺得東西愈來愈便宜、就會延遲消費；企業也因為缺少價格優勢，因此取消或暫緩投資計劃。消費低迷、投資又不振的情況下，物價會更低，形成通貨緊縮對經濟的惡性循環。通貨緊縮延續，將會使失業持續增加，導致嚴重的經濟問題。

 

Ｂ2 (20%)

     資本財的共同特點之一，就是它具有生產力，能在未來產生廠商的收益或產生直接家戶消費者的效益。投資的目的，就在謀求此未來的收益或效益。影響投資需求的因素有二：一為投資者預期其投資在未來能收到的收益或效益，另一為從事投資當時所要付出的成本。若預期未來的收益現值大於成本，則值得投資；反之則否。而最適當的投資數量，自當取決於邊際收益等於邊際成本之法則；亦即應使得購買最後一單位資本財所帶來預期收益的增量等於成本之增量。