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Accomplish more with less, learnThe Economic Way of Thinking. KEY TOPICS:The Economic Way of Thinking; Efficiency, Exchange and Comparative Advantage; Substitutes Everywhere: The Concept of Demand; Cost and Choice: The Concept of Supply; Supply and Demand: A Process of Coordination; Unintended Consequences: More Applications of Supply and Demand; Profit and Loss; Price Searching; Competition and Government Policy; Externalities and Conflicting Rights; Markets and Government; Measuring the Overall Performance of Economic Systems; The Wealth of Nations: Globalization and Economic Growth; Money; Economic Performance and Real-World Politics; The Limitations of Economics MARKET: This text goes beyond explaining the basic principles of micro- and macroeconomic analysis by showing readers how to apply these principles astools.The authors expose a method of reasoning that encourages readers to think like an economist through example and application. They also show readers how not to think, by exposing errors in popular economic reasoning.
Table of Contents
|About the Authors||p. xvii|
|The Economic Way of Thinking||p. 3|
|Questions for Discussion||p. 17|
|Efficiency, Exchange, and Comparative Advantage||p. 21|
|An Appendix: Economic Growth: Specialization, Exchange, and The Rule of Law||p. 35|
|Questions for Discussion||p. 40|
|Substitutes Everywhere: The Concept of Demand||p. 45|
|Questions for Discussion||p. 67|
|Cost and Choice: The Concept of Supply||p. 75|
|Questions for Discussion||p. 93|
|Supply and Demand: A Process of Coordination||p. 99|
|An Appendix: Coordination Problems: Transaction Costs||p. 109|
|Questions for Discussion||p. 115|
|Unintended Consequences: More Applications of Supply and Demand||p. 119|
|An Appendix: Framing Economic Questions Correctly||p. 139|
|Questions for Discussion||p. 144|
|Profit and Loss||p. 153|
|An Appendix: Profiteering in Futures Markets||p. 167|
|Questions for Discussion||p. 174|
|Price Searching||p. 183|
|Questions for Discussion||p. 197|
|Competition and Government Policy||p. 205|
|Questions for Discussion||p. 223|
|Externalities and Conflicting Rights||p. 229|
|Questions for Discussion||p. 245|
|Markets and Government||p. 255|
|Questions for Discussion||p. 276|
|Measuring the Overall Performance of Economic Systems||p. 283|
|An Appendix: Limitations of National Income Accounting||p. 303|
|Questions for Discussion||p. 308|
|The Wealth of Nations: Globalization and Economic Growth||p. 313|
|An Appendix: The Difficulties of International GDP Comparisons||p. 334|
|Questions for Discussion||p. 337|
|An Appendix: What About Gold?||p. 355|
|Questions for Discussion||p. 357|
|Economic Performance and Real-World Politics||p. 363|
|Questions for Discussion||p. 386|
|Renewal of the Debate: Some Parting Thoughts||p. 395|
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