9780130608109

The Economic Way of Thinking

by ; ;
  • ISBN13:

    9780130608109

  • ISBN10:

    0130608106

  • Edition: 10th
  • Format: Paperback
  • Copyright: 1/1/2003
  • Publisher: Pearson College Div
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Summary

The Economic Way of Thinking develops the basic principles of micro- and macroeconomic analysis, and rigorously employs them as tools rather than ends unto themselves. This book introduces readers to a method of reasoning; to think like an economist—teaching through example and application. It even teaches by showing learners how not to think, by exposing them to the errors implicit in much popular reasoning about economic events. Chapter topics include opportunity cost and the supply of goods, supply and demand, profit and loss, competition and monopoly, price searching, competition and government policy, the distribution of income, markets and government, the overall performance of economic systems, the supply of money, monetary and fiscal policies, national policies and international exchange, employment and unemployment, promoting economic growth, and the limitations of economics. For individuals seeking a deeper understanding of the effects of world events on the economy and vice versa.

Table of Contents

Preface xiii
The Economic Way of Thinking
1(16)
Questions for Discussion
14(3)
Efficiency, Exchange, and Comparative Advantage
17(20)
Questions for Discussion
3l(29)
An Appendix: Calculating Comparative Advantage in the Harry and Gus Story
29(8)
Substitutes Everywhere: The Concept of Demand
37(28)
Questions for Discussion
57(8)
Opportunity Cost and the Supply of Goods
65(22)
Questions for Discussion
81(6)
Supply and Demand: A Process of Cooperation
87(26)
Questions for Discussion
108(5)
Supply and Demand: Issues and Applications
113(30)
Questions for Discussion
134
An Appendix: Framing Economic Questions Correctly
129(14)
Information, Middlemen, and Speculators
143(24)
Questions for Discussion
160
An Appendix: Commodity Speculators and Futures Markets
156(11)
Profit and Loss
167(38)
Questions for Discussion
197
An Appendix: Discounting and Present Values
190(15)
Competition and Monopoly
205(16)
Questions for Discussion
215(6)
Price Searching
221(24)
Questions for Discussion
236(9)
Competition and Government Policy
245(24)
Questions for Discussion
260(9)
The Distribution of Income
269(28)
Questions for Discussion
288(9)
Externalities and Conflicting Rights
297(26)
Questions for Discussion
313(10)
Markets and Government
323(28)
Questions for Discussion
343(8)
The Overall Performance of Economic Systems
351(20)
Questions for Discussion
367(4)
The Supply of Money N
371(22)
Questions for Discussion
388(5)
Monetary and Fiscal Policies
393(26)
Questions for Discussion
412(7)
National Policies and International Exchange
419(26)
Questions for Discussion
439(6)
Employment and Unemployment
445(24)
Questions for Discussion
462(7)
Promoting Economic Growth
469(20)
Questions for Discussion
484(5)
Economic Performance and Political Economy
489(22)
Questions for Discussion
505(6)
The Limitations of Economics
511(4)
Glossary 515(2)
Index 517

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