Economics with InfoTrac College Edition

by Arnold, Roger A.

• ISBN13: 9780324017458
• ISBN10: 0324017456
• Edition: 5th
• Format: Hardcover
• Copyright: 2000-07-31
• Publisher: South-Western College Pub

Summary

Economics, 5E provides a complete introduction to the basic principles of economics. A balanced presentation of major theories, thorough integration of international topics, a wealth of interesting real-world applications, and a focus on the economic way of thinking are presented in an interesting and upbeat style so the reader can understand and appreciate the material. Fully integrated Internet features offer hands-on exercises exploring economics on-line. Outstanding exhibits and graphs strategically use color and cause/effect diagrams for maximum accessibility and understanding.

Author Biography

Stephen Ison is a Principal Lecturer in Economics, Anglia Business School, Anglia Polytechnic University, Cambridge.

Table of Contents

AN INTRODUCTION TO ECONOMICS
Part 1 Economics: The Science of Scarcity
What Economics Is About	1	(30)
Working with Diagrams	22	(9)
Trade, Tradeoffs, and Economic Systems	31	(25)
Supply, Demand, and Price: The Theory	56	(31)
Applications of Supply and Demand: Explaining and Predicting Market and Nonmarket Behavior	87	(26)
MACROECONOMICS
Part 2 Macroeconomic Fundamentals
Macroeconomic Measurements, Part I: Prices and Unemployment	113	(23)
Macroeconomic Measurements, Part II: GDP and Real GDP	136	(23)
Part 3 Macroeconomic Stability, Instability, and Fiscal Policy
Aggregate Demand and Aggregate Supply	159	(30)
The Self-Regulating Economy	189	(18)
Economic Instability: A Critique of the Self-Regulating Economy	207	(25)
Fiscal Policy	232	(23)
Taxes, Deficits, Surpluses, and the Public Debt	255	(19)
Part 4 Money, the Economy, and Monetary Policy
Money and Banking	274	(20)
The Federal Reserve System	294	(18)
Money and the Economy	312	(28)
Monetary Policy	340	(23)
Part 5 Expectations and Growth
Expectations Theory and the Economy	363	(21)
Economic Growth: Resources, Technology, and Ideas	384	(17)
MICROECONOMICS
Part 6 Microeconomic Fundamentals
Elasticity	401	(25)
The Logic of Consumer Choice	426	(28)
Budget Constraint and Indifference Curve Analysis	446	(8)
The Firm	454	(19)
Production and Costs	473	(27)
Part 7 Product Markets and Policies
Perfect Competition	500	(27)
Monopoly	527	(23)
Monopolistic Competition and Oligopoly	550	(23)
Government and Product Markets: Antitrust and Regulation	573	(25)
Agriculture: Farmers' Problems, Government Policies, and Unintended Effects	598	(17)
Part 8 Factor Markets and Related Issues
Factor Markets: With Emphasis on the Labor Market	615	(23)
Wages, Unions, and Labor	638	(19)
The Distribution of Income and Poverty	657	(24)
Interest, Rent, and Profit	681	(20)
Part 9 Market Failure and Public Choice
Market Failure: Externalities, Public Goods, and Asymmetric Information	701	(25)
Public Choice: Economic Theory Applied to Politics	726	(19)
THE WORLD ECONOMY
Part 10 International Economics: Theory and Policy
International Trade	745	(19)
International Finance	764	(32)
International Economic Development	796	(13)
Self-Test Appendix	809	(30)
Glossary	839	(11)
Photo Credits	850	(1)
Index	851