Issues in Economics Today

Issues in Economics Today is a modern issues book that presents the latest and most interesting topics. Most importantly, this title was developed to allow instructors the maximum flexibility to teach this material in a manner that fits their personal style.

Some professors like to intertwine theory and issues while others like to lay the theoretical foundation first before heading into the issues. Some faculty will choose to set a theme for their course and pick issues consistent with that theme while others will let their students decide what issues interest them. Beginning with eight intensive core theory chapters and followed by 33 shorter issues chapters, there is no right way to use the book.

The 33 issues chapters are divided into the following categories: Macroeconomic Issues, International Issues, Externalities and Market Failure, Health Issues, Government Solutions to Societal Problems, Discrimination Issues, Price Control Issues, and Miscellaneous Markets. These groupings help instructors navigate through the Table of Contents when looking for a particular topic.

This book also has the benefit of having timely web-available chapters that allow students to study issues as they happen. Between the time the first edition went to press and this edition became available, the accounting scandals of 2002 occurred. During the book’s first year the U.S. went to war in Iraq. Before this edition hit college bookstores, the Housing Bubble was of significant concern. Chapters discussing the economic impact of these events were available within a month of these events on the web.

Chapter 1 Economics: The Study of Opportunity Cost

Appendix 1A Graphing: Yes, You Can.

Chapter 2 Supply and Demand

Chapter 3 The Concept of Elasticity and Consumer and Producer Surplus

Chapter 4 Firm Production, Cost, and Revenue

Chapter 5 Perfect Competition, Monopoly, and Economic versus Normal Profit

Chapter 6 Every Macroeconomic Word You Ever Heard: Gross Domestic Product, Inflation, Unemployment, Recession, and Depression

Chapter 7 Interest Rates and Present Value

Chapter 8 Aggregate Demand and Aggregate Supply

Chapter 9 Federal Spending

Chapter 10 Federal Deficits, Surpluses, and the National Debt

Chapter 11 Fiscal Policy

Chapter 12 Monetary Policy

Chapter 13 International Trade: Does it Jeopardize American Jobs?

Chapter 14 The International Monetary Fund: Doctor or Witch Doctor?

Chapter 15 NAFTA, CAFTA, GATT, WTO: Are Trade Agreements Good for Us?

Chapter 16 Tobacco, Alcohol, Drugs, and Prostitution

Chapter 17 The Environment

Chapter 18 Health Care

Chapter 19 Government Provided Health Insurance: Medicaid, Medicare, and the Child Health Insurance Program

Chapter 20 The Economics of Prescription Drugs

Chapter 21 The Economics of Crime

Chapter 22 Education

Chapter 23 Poverty and Welfare

Chapter 24 Social Security

Chapter 25 Head Start

Chapter 26 The Economics of Race and Sex Discrimination

Chapter 27 Farm Policy

Chapter 28 Minimum Wage

Chapter 29 Rent Control

Chapter 30 Ticket Brokers and Ticket Scalping

Chapter 31 Personal Income Taxes

Chapter 32 Antitrust

Chapter 33 Energy Prices

Chapter 34 If We Build It, Will They Come? And Other Sports Questions

Chapter 35 The Stock Market and Crashes

Chapter 36 Unions

Chapter 37 The Cost of War

Chapter 38 The Economics of Terrorism

Chapter 39 Wal-Mart: Always Low Prices (And Low Wages) Always

Chapter 40 The Economic Impact of Casino Gambling

Chapter 41 Why College Textbooks Cost So Much

Glossary

Index