Economics A Contemporary Introduction, The Wall Street Journal Edition

by McEachern, William A.

• ISBN13: 9780538888462
• ISBN10: 0538888466
• Edition: 5th
• Format: Hardcover
• Copyright: 1999-07-14
• Publisher: South-Western College Pub

Summary

This very successful textbook is distinguished by a superior writing style that draws upon common student experiences to introduce economic concepts, making economic theory more accessible and interesting. "Case Studies" and numerous examples take advantage of students' intuitive knowledge of economics, building upon real-life situations. A streamlined design places pedagogy and illustrations directly within the flow of the text, making it less distracting and more useful for students. A fully integrated and sensible Internet strategy sets this text apart by tying numerous in-text features to learning enhancements and extensions on a dedicated Web site. This Fifth Edition makes unique use of THE WALL STREET JOURNAL by including resources and exercises utilizing that periodical to help students learn to analyze the latest economic events. McEachern is also available in macro and micro paperback splits.

Table of Contents

PART 1 INTRODUCTION TO ECONOMICS
The Art and Science of Economic Analysis	1	(24)
Appendix: Understanding Graphs	18	(7)
Some Tools of Economic Analysis	25	(18)
The Market System	43	(24)
Economic Decision Makers: Households, Firms, Governments, and the Rest of the World	67	(22)
PART 2 FUNDAMENTALS OF MACROECONOMICS
Introduction to Macroeconomics	89	(22)
U.S. Productivity and Growth	111	(23)
Unemployment and Inflation	134	(23)
Measuring Economic Aggregates and the Circular Flow of Income	157	(25)
Appendix: National Income Accounts	179	(3)
Aggregate Expenditure: Consumption, Investment, Government Purchases, and Net Exports	182	(24)
Appendix: Variable Net Exports	204	(2)
Aggregate Expenditure and Aggregate Demand	206	(22)
Appendix A: Variable Net Exports	223	(3)
Appendix B: Algebra of Income and Expenditure	226	(2)
Aggregate Supply	228	(22)
PART 3 FISCAL AND MONETARY POLICY
Fiscal Policy	250	(22)
Appendix: The Algebra of Demand Side Equilibrium	269	(3)
Money and the Financial System	272	(22)
Banking and the Money Supply	294	(21)
Monetary Theory and Policy	315	(24)
The Policy Debate: Active or Passive?	339	(24)
Federal Budgets and Public Policy	363	(22)
PART 4 INTRODUCTION TO THE MARKET SYSTEM
Elasticity of Demand and Supply	385	(24)
Consumer Choice and Demand	409	(27)
Appendix: Indifference Curves and Utility Maximization	429	(7)
Production and Cost in the Firm	436	(26)
Appendix: A Closer Look at Production and Costs	457	(5)
PART 5 MARKET STRUCTURE AND PRICING
Perfect Competition	462	(30)
Monopoly	492	(22)
Monopolistic Competition and Oligopoly	514	(24)
PART 6 RESOURCE MARKETS
Resource Markets	538	(23)
Labor Markets and Labor Unions	561	(23)
Capital, Interest, and Corporate Finance	584	(20)
Transaction Costs, Imperfect Information, and Market Behavior	604	(20)
PART 7 MARKET FAILURE AND PUBLIC POLICY
Economic Regulation and Antitrust Activity	624	(23)
Public Goods and Public Choice	647	(20)
Externalities and the Environment	667	(24)
Income Distribution and Poverty	691	(22)
PART 8 THE INTERNATIONAL SETTING
International Trade	713	(24)
International Finance	737	(21)
Developing and Transitional Economies	758