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This modern, Micro first book has a strong foundation in demand and supply. Its thoughtful coverage of change in demand vs. change in quantity demanded (also in supply coverage) enables readers to better visualize and truly understand the difference between these 2 fundamental concepts.Its hallmark feature includes a focus on the 5 Key Principles of Economics: 1) Opportunity Cost, 2) The Marginal Principle (comparing marginal benefits and marginal costs), 3) Diminishing Returns, 4) The Spillover Principle (for externalities in production and consumption), and, 5) The Reality Principle (distinguishing real from nominal magnitudes).For economists, financial analysts and other finance professionals.
Table of Contents
|Introduction and Key Principles||p. 1|
|Introduction: What Is Economics?||p. 1|
|Key Principles of Economics||p. 23|
|Markets and Government in the Global Economy||p. 41|
|Supply, Demand, and Market Equilibrium||p. 63|
|A Closer Look at Supply and Demand||p. 95|
|Elasticity: A Measure of Responsiveness||p. 95|
|Market Efficiency and Government Intervention||p. 119|
|Consumer Choice||p. 145|
|Market Structures and Pricing||p. 163|
|Production and Cost||p. 163|
|Perfect Competition: Short Run and Long Run||p. 187|
|Entry and Monopolistic Competition||p. 235|
|Oligopoly and Strategic Behavior||p. 251|
|Using Market Power: Price Discrimination and Advertising||p. 277|
|Controlling Market Power: Antitrust Policy and Deregulation||p. 293|
|Spillovers and Information||p. 311|
|Imperfect Information and Disappearing Markets||p. 311|
|Public Goods, Taxes, and Public Choice||p. 329|
|Environmental Policy||p. 349|
|The Labor Market and Economic Challenges||p. 371|
|The Labor Market||p. 371|
|Economic Challenges: Poverty, Aging, and Health Care||p. 399|
|The Basic Concepts in Macroeconomics||p. 417|
|Measuring a Nation's Production and Income||p. 417|
|Unemployment and Inflation||p. 437|
|The Economy in the Long Run||p. 453|
|Classical Economics: The Economy at Full Employment||p. 453|
|Why Do Economies Grow?||p. 475|
|Economic Fluctuations||p. 501|
|Aggregate Demand and Aggregate Supply||p. 501|
|Keynesian Economics and Fiscal Policy||p. 521|
|Investment and Financial Intermediation||p. 553|
|Money, Banking, and Monetary Policy||p. 571|
|Money, the Banking System, and the Federal Reserve||p. 571|
|Monetary Policy in the Short Run||p. 591|
|Inflation, Unemployment, and Economic Policy||p. 611|
|From the Short Run to the Long Run||p. 611|
|The Dynamics of Inflation and Unemployment||p. 629|
|Current Issues in Macroeconomic Policy||p. 651|
|The International Economy||p. 669|
|International Trade and Public Policy||p. 669|
|The World of International Finance||p. 691|
|Answers to Odd Numbered Problems and Discussion Questions||p. 1|
|Photo Credits||p. 1|
|Table of Contents provided by Syndetics. All Rights Reserved.|