Since I’ll start teaching microeconomics from next week, I thought I might as well combine business and pleasure while I prepare my lectures. I therefore went on Naver and searched for 경제원론 (Principles of economics). I came across a set of lecture slides from Sogang University and quickly started reading. There were SO many new words in these slides, but luckily I was able to infer the meaning of many of them.

For those of you interested in building your specialized vocabulary here’s a list of a few key microeconomic concepts. Now let’s just hope that I don’t accidently introduce my new students to the terms in Korean by mistake.

미시경제학 Microeconomics

거시경제학 Macroeconomics

희소성의 원리 The scarcity principle (all goods are limited)

비용/편익의 원리 The cost/benefit principle

유인의 원리 The incentive principle

유한하다 Limited

오류 Error

한계치 Marginal value

한계비용 Marginal cost

총혜택 Total benefit

기회비용 Opportunity cost

비교우위 Comparative advantage

절대우위 Absolute advantage

생산성 Productivity

곡선 Curve

Since I learn these words while preparing the lectures based on an English textbook, I can easily relate the words to a certain example or situation. I was therefore happy to discover that when I spoke to my LP in the afternoon after having studied these words in the morning they all stuck in my memory, when he asked about them. He really praised my effort and was only slightly dissatisfied with me learning the word 오류 for the first time. “This is not an advanced word. I thought you knew this.” Well, at least now I do!

Having spent enough time with technical language this weekend, I’ll get back to watching “Kill me, heal me”. I found this drama on viki with Korean subtitles, and so far it seems quite promising.




  1. I have been dealing with Korean since 1998 and I only know some of these words. 유한하다 Limited,오류 Error,총혜택 Total benefit, 생산성 Productivity,곡선 Curve. I don’t know if the others will stick in my memory but I will give it a shot!

    유한(有限) is the opposite of 무한(無限) and I hear both used often. Good Hanja to know.

    Liked by 1 person

    • Thanks for commenting. I’m glad this post could be of help to you. I agree that the hanja components 有 and 無 are extremely useful. I like expanding my vocabulary by reading specialized content once in a while but obviously one should primarily focus on words that are more likely to come up in conversations.


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