EXAM QUICK REFERENCE

ERE Basic exam quick reference

Six micro and six macro chapters cover the standard introductory range. Chapter 13 handles the true/false and four-choice CBT formats, and chapter 14 is for those who already studied economics at home: the models are known, the Japanese phrasing is not.

Written from the public ERE Basic guide. ERE Basic is distinct from the full ERE used by some graduate programs, and nothing here claims a general written-test waiver.

Delivery: CBT
Fields: Micro and macro
Our mock: 50 items / 90 min
Questions: 50

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QUICK REFERENCE

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Showing 72 items

Markets, demand, and supply

001需要曲線と供給曲線demand and supply curvesEssential

Core note: The demand curve slopes down and the supply curve up, with price on the vertical axis and quantity on the horizontal.
Exam area: Markets, demand, and supply
Decision focus: First decide whether the change moves along the curve or shifts it.

002市場均衡market equilibriumEssential

Core note: The intersection fixes equilibrium price and quantity; excess demand pushes price up and excess supply pushes it down.
Exam area: Markets, demand, and supply
Decision focus: First decide whether the change moves along the curve or shifts it.

003曲線のシフトと曲線上の移動shifts versus movements along a curveEssential

Core note: A price change moves you along the curve while other factors shift the whole curve — confusing the two is the most common error.
Exam area: Markets, demand, and supply
Decision focus: First decide whether the change moves along the curve or shifts it.

004需要の価格弾力性price elasticity of demandEssential

Core note: The absolute ratio of quantity change to price change; above one, demand is elastic and a price cut raises total revenue.
Exam area: Markets, demand, and supply
Decision focus: First decide whether the change moves along the curve or shifts it.

005所得弾力性・交差弾力性income and cross elasticityFrequent

Core note: A negative income elasticity marks an inferior good; a positive cross elasticity marks substitutes and a negative one complements.
Exam area: Markets, demand, and supply
Decision focus: First decide whether the change moves along the curve or shifts it.

006価格規制price controlsFrequent

Core note: A ceiling below equilibrium creates shortage; a floor above it creates surplus.
Exam area: Markets, demand, and supply
Decision focus: First decide whether the change moves along the curve or shifts it.

Surplus analysis

007消費者余剰consumer surplusEssential

Core note: The gap between willingness to pay and what is actually paid — the area between the demand curve and the price line.
Exam area: Surplus analysis
Decision focus: For surplus questions, always draw the areas first.

008生産者余剰producer surplusEssential

Core note: The gap between revenue received and the minimum acceptable — the area between the price line and the supply curve.
Exam area: Surplus analysis
Decision focus: For surplus questions, always draw the areas first.

009総余剰と効率性total surplus and efficiencyEssential

Core note: The sum of consumer and producer surplus, maximized at the competitive equilibrium.
Exam area: Surplus analysis
Decision focus: For surplus questions, always draw the areas first.

010死荷重deadweight lossEssential

Core note: The surplus destroyed by taxes, controls, or monopoly, typically appearing as a triangle.
Exam area: Surplus analysis
Decision focus: For surplus questions, always draw the areas first.

011課税の帰着tax incidenceEssential

Core note: Who is legally taxed does not determine who bears it; the less elastic side carries the larger share.
Exam area: Surplus analysis
Decision focus: For surplus questions, always draw the areas first.

012貿易と余剰trade and surplusFrequent

Core note: Opening trade raises total surplus while hurting import-competing producers and exporting-country consumers.
Exam area: Surplus analysis
Decision focus: For surplus questions, always draw the areas first.

Consumer theory

013効用と限界効用utility and marginal utilityEssential

Core note: Satisfaction from consumption; the increment from one more unit is marginal utility, normally diminishing.
Exam area: Consumer theory
Decision focus: The optimum is the tangency, where the slopes are equal.

014無差別曲線indifference curvesEssential

Core note: The locus of bundles giving equal utility — convex to the origin and never intersecting.
Exam area: Consumer theory
Decision focus: The optimum is the tangency, where the slopes are equal.

015限界代替率the marginal rate of substitutionEssential

Core note: The absolute slope of the indifference curve — the exchange ratio holding utility constant, normally diminishing.
Exam area: Consumer theory
Decision focus: The optimum is the tangency, where the slopes are equal.

016予算制約線the budget lineEssential

Core note: The boundary of affordable bundles given income and prices, with slope equal to the price ratio.
Exam area: Consumer theory
Decision focus: The optimum is the tangency, where the slopes are equal.

017効用最大化条件the utility-maximizing conditionEssential

Core note: Tangency of the indifference curve and the budget line: MRS equals the price ratio, equivalently marginal utility per yen is equalized.
Exam area: Consumer theory
Decision focus: The optimum is the tangency, where the slopes are equal.

018所得効果と代替効果income and substitution effectsFrequent

Core note: A price change decomposes into two effects; for a Giffen good the income effect dominates and demand slopes upward.
Exam area: Consumer theory
Decision focus: The optimum is the tangency, where the slopes are equal.

Producer theory

019生産関数と限界生産物the production function and marginal productEssential

Core note: The mapping from inputs to output; the extra output from one more input unit is the marginal product, normally diminishing.
Exam area: Producer theory
Decision focus: Shutdown is judged on average variable cost, not total cost.

020費用曲線cost curvesEssential

Core note: Total cost splits into fixed and variable; fixed costs exist only in the short run.
Exam area: Producer theory
Decision focus: Shutdown is judged on average variable cost, not total cost.

021限界費用と平均費用marginal and average costEssential

Core note: The marginal cost curve always cuts average cost at its minimum — a fixture of diagram questions.
Exam area: Producer theory
Decision focus: Shutdown is judged on average variable cost, not total cost.

022利潤最大化条件the profit-maximizing conditionEssential

Core note: Marginal revenue equals marginal cost; under perfect competition price is marginal revenue, so P=MC.
Exam area: Producer theory
Decision focus: Shutdown is judged on average variable cost, not total cost.

023操業停止点と損益分岐点the shutdown and break-even pointsEssential

Core note: Below minimum average variable cost the firm shuts down; at minimum average total cost profit is zero.
Exam area: Producer theory
Decision focus: Shutdown is judged on average variable cost, not total cost.

024規模に関する収穫returns to scaleFrequent

Core note: Scaling all inputs equally raises output more than, exactly as, or less than proportionally.
Exam area: Producer theory
Decision focus: Shutdown is judged on average variable cost, not total cost.

Market structure

025完全競争市場perfect competitionEssential

Core note: Many buyers and sellers, homogeneous goods, free entry, and full information make each firm a price taker.
Exam area: Market structure
Decision focus: First establish whether the firm takes or sets the price.

026独占と限界収入monopoly and marginal revenueEssential

Core note: A monopolist faces a downward-sloping demand curve so marginal revenue lies below price, producing less at a higher price.
Exam area: Market structure
Decision focus: First establish whether the firm takes or sets the price.

027価格差別price discriminationFrequent

Core note: Charging different buyers different prices; perfect discrimination converts all consumer surplus into profit with no deadweight loss.
Exam area: Market structure
Decision focus: First establish whether the firm takes or sets the price.

028寡占oligopolyEssential

Core note: A few interdependent firms; Cournot assumes quantity competition and Bertrand price competition.
Exam area: Market structure
Decision focus: First establish whether the firm takes or sets the price.

029ナッシュ均衡Nash equilibriumEssential

Core note: A state where no player wants to deviate given the others' strategies; the prisoner's dilemma shows it need not be Pareto optimal.
Exam area: Market structure
Decision focus: First establish whether the firm takes or sets the price.

030独占的競争monopolistic competitionFrequent

Core note: Differentiated products with free entry: long-run profit is zero and output falls short of minimum average cost.
Exam area: Market structure
Decision focus: First establish whether the firm takes or sets the price.

Market failure

031外部性externalitiesEssential

Core note: Effects transmitted outside the market; with a negative externality private cost is below social cost and output is excessive.
Exam area: Market failure
Decision focus: Adverse selection precedes the contract; moral hazard follows it.

032ピグー税とコースの定理Pigouvian taxes and the Coase theoremEssential

Core note: A Pigouvian tax internalizes external cost; Coase holds that with clear property rights and zero transaction costs, bargaining suffices.
Exam area: Market failure
Decision focus: Adverse selection precedes the contract; moral hazard follows it.

033公共財public goodsEssential

Core note: Goods that are both non-rival and non-excludable; pure public goods are undersupplied by the market.
Exam area: Market failure
Decision focus: Adverse selection precedes the contract; moral hazard follows it.

034フリーライダー問題the free-rider problemFrequent

Core note: When non-payers cannot be excluded, everyone understates their valuation and provision falls short.
Exam area: Market failure
Decision focus: Adverse selection precedes the contract; moral hazard follows it.

035情報の非対称性asymmetric informationEssential

Core note: One side of a transaction knows more — the shared root of adverse selection and moral hazard.
Exam area: Market failure
Decision focus: Adverse selection precedes the contract; moral hazard follows it.

036逆選択とモラルハザードadverse selection and moral hazardEssential

Core note: Adverse selection occurs before contracting (the used-car market) and moral hazard after it (reduced care once insured).
Exam area: Market failure
Decision focus: Adverse selection precedes the contract; moral hazard follows it.

National accounts

037国内総生産（GDP）gross domestic productEssential

Core note: The total value added produced domestically in a period, excluding intermediate inputs and second-hand transactions.
Exam area: National accounts
Decision focus: The domestic-versus-national distinction is a standing item.

038名目GDPと実質GDPnominal and real GDPEssential

Core note: Nominal uses current prices and real uses base-year prices to strip out price changes.
Exam area: National accounts
Decision focus: The domestic-versus-national distinction is a standing item.

039GDPデフレーターと物価指数the GDP deflator and price indicesEssential

Core note: Nominal divided by real times 100; unlike the CPI it covers everything produced domestically.
Exam area: National accounts
Decision focus: The domestic-versus-national distinction is a standing item.

040三面等価の原則the three-approach identityEssential

Core note: Production, income, and expenditure totals are identically equal in the national accounts.
Exam area: National accounts
Decision focus: The domestic-versus-national distinction is a standing item.

041GNIと海外からの所得GNI and income from abroadFrequent

Core note: GNI equals GDP plus net factor income from abroad; the domestic-versus-national distinction is frequently tested.
Exam area: National accounts
Decision focus: The domestic-versus-national distinction is a standing item.

042貯蓄投資バランスthe saving-investment balanceFrequent

Core note: The identity linking private, fiscal, and current-account balances — the basis for explaining twin deficits.
Exam area: National accounts
Decision focus: The domestic-versus-national distinction is a standing item.

Consumption, investment, and the multiplier

043消費関数と限界消費性向the consumption function and marginal propensity to consumeEssential

Core note: Consumption rises with disposable income; the share of extra income spent is the marginal propensity to consume.
Exam area: Consumption, investment, and the multiplier
Decision focus: The multiplier's denominator is always the sum of leakages.

044貯蓄関数the saving functionFrequent

Core note: The marginal propensities to consume and save always sum to one.
Exam area: Consumption, investment, and the multiplier
Decision focus: The multiplier's denominator is always the sum of leakages.

045乗数効果the multiplier effectEssential

Core note: Autonomous spending raises income by a multiple; in a closed economy the multiplier is 1/(1−MPC).
Exam area: Consumption, investment, and the multiplier
Decision focus: The multiplier's denominator is always the sum of leakages.

046投資理論investment theoryEssential

Core note: Investment proceeds while the marginal efficiency of capital exceeds the interest rate; higher rates suppress it.
Exam area: Consumption, investment, and the multiplier
Decision focus: The multiplier's denominator is always the sum of leakages.

047加速度原理the accelerator principleFrequent

Core note: Investment depends on the change in output, so a mere slowdown in growth can cut investment outright.
Exam area: Consumption, investment, and the multiplier
Decision focus: The multiplier's denominator is always the sum of leakages.

04845度線分析the 45-degree line modelEssential

Core note: The intersection of aggregate demand with the 45-degree line fixes equilibrium income; insufficient demand opens a deflationary gap.
Exam area: Consumption, investment, and the multiplier
Decision focus: The multiplier's denominator is always the sum of leakages.

Money and finance

049マネーストックとマネタリーベースmoney stock and the monetary baseEssential

Core note: The base is central-bank-supplied cash and reserves; the stock is the total after credit creation.
Exam area: Money and finance
Decision focus: Interest rates and bond prices always move in opposite directions.

050信用創造と貨幣乗数credit creation and the money multiplierEssential

Core note: Repeated bank lending multiplies deposits; the lower the reserve ratio, the larger the multiplier.
Exam area: Money and finance
Decision focus: Interest rates and bond prices always move in opposite directions.

051貨幣需要と流動性選好money demand and liquidity preferenceEssential

Core note: Transaction and precautionary motives depend on income while the speculative motive falls as the interest rate rises.
Exam area: Money and finance
Decision focus: Interest rates and bond prices always move in opposite directions.

052金融政策の手段instruments of monetary policyEssential

Core note: Open-market operations, reserve requirements, and the policy rate; buying bonds eases and selling tightens.
Exam area: Money and finance
Decision focus: Interest rates and bond prices always move in opposite directions.

053利子率と債券価格interest rates and bond pricesEssential

Core note: They move inversely: when rates rise, existing bond prices fall — a frequent true/false item.
Exam area: Money and finance
Decision focus: Interest rates and bond prices always move in opposite directions.

054流動性の罠the liquidity trapFrequent

Core note: At very low rates money demand becomes perfectly elastic, so extra money no longer lowers rates and monetary policy loses traction.
Exam area: Money and finance
Decision focus: Interest rates and bond prices always move in opposite directions.

IS-LM analysis

055IS曲線the IS curveEssential

Core note: Combinations of interest rate and income that clear the goods market, sloping down because investment falls as rates rise.
Exam area: IS-LM analysis
Decision focus: Establish which curve shifts before reading the new intersection.

056LM曲線the LM curveEssential

Core note: Combinations clearing the money market, sloping up because higher income raises money demand and thus rates.
Exam area: IS-LM analysis
Decision focus: Establish which curve shifts before reading the new intersection.

057IS-LM同時均衡simultaneous IS-LM equilibriumEssential

Core note: The intersection fixes income and the interest rate together — the core short-run macro framework.
Exam area: IS-LM analysis
Decision focus: Establish which curve shifts before reading the new intersection.

058財政政策の効果the effect of fiscal policyEssential

Core note: Expansionary fiscal policy shifts IS right, raising income and rates; the flatter the LM curve, the larger the effect.
Exam area: IS-LM analysis
Decision focus: Establish which curve shifts before reading the new intersection.

059クラウディング・アウトcrowding outEssential

Core note: Government spending raises rates and displaces private investment, partly offsetting the fiscal stimulus.
Exam area: IS-LM analysis
Decision focus: Establish which curve shifts before reading the new intersection.

060金融政策の効果the effect of monetary policyEssential

Core note: A money-supply increase shifts LM right, cutting rates and raising income — but not inside a liquidity trap.
Exam area: IS-LM analysis
Decision focus: Establish which curve shifts before reading the new intersection.

AD-AS, unemployment, and prices

061総需要曲線（AD）the aggregate demand curveEssential

Core note: The relation between the price level and equilibrium income, derived from IS-LM and sloping downward.
Exam area: AD-AS, unemployment, and prices
Decision focus: Short and long run give opposite conclusions, so fix the premise first.

062総供給曲線（AS）the aggregate supply curveEssential

Core note: Upward-sloping in the short run and vertical at potential output in the long run — a distinction that drives the policy conclusion.
Exam area: AD-AS, unemployment, and prices
Decision focus: Short and long run give opposite conclusions, so fix the premise first.

063失業の種類types of unemploymentEssential

Core note: Frictional, structural, and demand-deficient (cyclical) unemployment; the first two make up natural unemployment.
Exam area: AD-AS, unemployment, and prices
Decision focus: Short and long run give opposite conclusions, so fix the premise first.

064フィリップス曲線the Phillips curveEssential

Core note: The inverse relation between unemployment and inflation, becoming vertical in the long run once expectations are included.
Exam area: AD-AS, unemployment, and prices
Decision focus: Short and long run give opposite conclusions, so fix the premise first.

065インフレーションの種類types of inflationEssential

Core note: Demand-pull comes from an AD shift right and cost-push from an AS shift left, the latter accompanied by falling output.
Exam area: AD-AS, unemployment, and prices
Decision focus: Short and long run give opposite conclusions, so fix the premise first.

066自然失業率仮説the natural rate hypothesisFrequent

Core note: In the long run unemployment returns to its natural rate and expansion raises only prices, not real output.
Exam area: AD-AS, unemployment, and prices
Decision focus: Short and long run give opposite conclusions, so fix the premise first.

Growth and international macro

067経済成長率と成長会計growth rates and growth accountingEssential

Core note: Decomposes growth into the contributions of labor, capital, and total factor productivity.
Exam area: Growth and international macro
Decision focus: The exchange-rate regime decides which policy works.

068ソロー・モデルthe Solow modelEssential

Core note: Diminishing returns to capital drive the economy to a steady state, so sustained growth requires technical progress.
Exam area: Growth and international macro
Decision focus: The exchange-rate regime decides which policy works.

069国際収支the balance of paymentsFrequent

Core note: Comprises the current, capital-transfer, and financial accounts; a current surplus corresponds to rising net foreign assets.
Exam area: Growth and international macro
Decision focus: The exchange-rate regime decides which policy works.

070為替レートの決定exchange-rate determinationEssential

Core note: A rise in domestic rates usually appreciates the currency, which dampens exports and encourages imports.
Exam area: Growth and international macro
Decision focus: The exchange-rate regime decides which policy works.

071購買力平価purchasing power parityFrequent

Core note: In the long run the exchange rate moves toward equalizing the price of the same basket across countries.
Exam area: Growth and international macro
Decision focus: The exchange-rate regime decides which policy works.

072マンデル＝フレミング・モデルthe Mundell-Fleming modelFrequent

Core note: In an open economy under floating rates fiscal policy is ineffective and monetary policy effective; under fixed rates the reverse holds.
Exam area: Growth and international macro
Decision focus: The exchange-rate regime decides which policy works.