Economics: Principles and Practices, Student Edition

by McGraw-Hill Education

• ISBN13: 9780078259777
• ISBN10: 0078259770
• Edition: 1st
• Format: Hardcover
• Copyright: 2002-01-15
• Publisher: McGraw-Hill Education

Summary

Student Edition

Table of Contents

Economic Handbook	xvi
Reading for Information	xxvi
Basic Concepts in Economics	xxviii
UNIT 1 Fundamental Economic Concepts	2	(84)
What Is Economics?	4	(28)
Scarcity and the Science of Economics	5	(7)
Basic Economic Concepts	12	(7)
Economic Choices and Decision Making	19	(13)
Economic Systems and Decision Making	32	(24)
Economic Systems	33	(8)
Evaluating Economic Performance	41	(5)
Capitalism and Economic Freedom	46	(10)
Business Organizations	56	(30)
Forms of Business Organization	57	(11)
Business Growth and Expansion	68	(7)
Other Organizations	75	(11)
UNIT 2 Microeconomics	86	(104)
Demand	88	(24)
What Is Demand?	89	(6)
Factors Affecting Demand	95	(6)
Elasticity of Demand	101	(11)
Supply	112	(24)
What Is Supply?	113	(9)
The Theory of Production	122	(5)
Cost, Revenue, and Profit Maximization	127	(9)
Prices and Decision Making	136	(26)
Prices as Signals	137	(5)
The Price System at Work	142	(8)
Social Goals vs. Market Efficiency	150	(12)
Market Structures	162	(28)
Competition and Market Structures	163	(10)
Market Failures	173	(5)
The Role of Government	178	(12)
UNIT 3 Macroeconomics: Institutions	190	(148)
Employment, Labor, and Wages	192	(30)
The Labor Movement	193	(7)
Resolving Union and Management Differences	200	(5)
Labor and Wages	205	(6)
Employment Trends and Issues	211	(11)
Sources of Government Revenue	222	(32)
The Economics of Taxation	223	(8)
The Federal Tax System	231	(7)
State and Local Tax Systems	238	(6)
Current Tax Issues	244	(10)
Government Spending	254	(30)
The Economics of Government Spending	255	(5)
Federal Government Expenditures	260	(7)
State and Local Government Expenditures	267	(5)
Deficits, Surpluses, and the National Debt	272	(12)
Money and Banking	284	(28)
The Evolution of Money	285	(7)
Early Banking and Monetary Standards	292	(8)
The Development of Modern Banking	300	(12)
Financial Markets	312	(26)
Savings and the Financial System	313	(5)
Investment Strategies and Financial Assets	318	(10)
Investing in Equities, Futures, and Options	328	(10)
UNIT 4 Macroeconomics: Policies	338	(126)
Economic Performance	340	(34)
Measuring the Nation's Output	341	(9)
GDP and Changes in the Price Level	350	(6)
GDP and Population	356	(7)
Economic Growth	363	(11)
Economic Instability	374	(32)
Business Cycles and Fluctuations	375	(7)
Unemployment	382	(7)
Inflation	389	(5)
Poverty and the Distribution of Income	394	(12)
The Fed and Monetary Policy	406	(30)
The Federal Reserve System	407	(8)
Monetary Policy	415	(11)
Monetary Policy, Banking, and the Economy	426	(10)
Achieving Economic Stability	436	(28)
The Cost of Economic Instability	437	(5)
Macroeconomic Equilibrium	442	(5)
Stabilization Policies	447	(9)
Economics and Politics	456	(8)
UNIT 5 International and Global Economics	464	(2)
International Trade	466	(1)
Absolute and Comparative Advantage	467	(5)
Barriers to International Trade	472	(9)
Financing and Trade Deficits	481	(9)
Comparative Economic Systems	490	(1)
The Spectrum of Economic Systems	491	(5)
The Rise and Fall of Communism	496	(5)
The Transition to Capitalism	501	(8)
The Various Faces of Capitalism	509	(11)
Developing Countries	520	(1)
Economic Development	521	(7)
A Framework for Development	528	(5)
Financing Economic Development	533	(11)
Global Economic Challenges	544	(1)
The Global Demand for Resources	545	(7)
Economic Incentives and Resources	552	(6)
Applying the Economic Way of Thinking	558
Reference Handbook
National Geographic Reference Atlas	1	(13)
Standard & Poor's Databank	14	(16)
Life Skills	30	(10)
Glossary	40	(14)
Spanish Handbook	54	(37)
Index	91	(15)
Acknowledgments	106