A practice-oriented learning system that breaks the traditional textbook mold. To help readers focus on the most important concepts-and effectively practice application of those concepts- Foundations of Economicsis structured around a Checklist/Checkpoint system. The result is a patient, confidence-building textbook that prepares readers to use economics in their everyday life, regardless of what their future career will be.
Table of Contents
PART 1: INTRODUCTION Chapter 1. Getting Started Chapter 2. The U.S. and Global Economies Chapter 3. The Economic Problem Chapter 4. Demand and Supply PART 2: A CLOSER LOOK AT MARKETS Chapter 5. Elasticities of Demand and Supply Chapter 6. Efficiency and Fairness of Markets PART 3: HOW GOVERNMENTS INFLUENCE THE ECONOMY Chapter 7. Government Actions in Markets Chapter 8. Taxes Chapter 9. Global Markets in Action PART 4: MARKET FAILURE AND ITS SOLUTIONS Chapter 10. Externalities Chapter 11. Public Goods and Common Resources Chapter 12. Markets with Private Information PART 5: A CLOSER LOOK AT DECISION MAKERS Chapter 13. Consumer Choice and Demand Chapter 14. Production and Cost PART 6: PRICES, PROFITS, AND INDUSTRY PERFORMANCE Chapter 15. Perfect Competition Chapter 16. Monopoly Chapter 17. Monopolistic Competition Chapter 18. Oligopoly PART 7: INCOMES AND INEQUALITY Chapter 19. Markets for Factors of Production Chapter 20. Economic Inequality PART 8: MONITORING THE MACROECONOMY Chapter 21. GDP: A Measure of Total Production and Income Chapter 22. Jobs and Unemployment Chapter 23. The CPI and the Cost of Living PART 9: THE REAL ECONOMY Chapter 24. Potential GDP and the Natural Unemployment Rate Chapter 25. Economic Growth Chapter 26. Finance, Saving, and Investment PART 10: THE MONEY ECONOMY Chapter 27. The Monetary System Chapter 28. Money, Interest, and Inflation PART 11: ECONOMIC FLUCTUATIONS Chapter 29. Aggregate Supply and Aggregate Demand Chapter 30. Aggregate Expenditure Multiplier Chapter 31. The Short-Run Policy Tradeoff PART 12: MACROECONOMIC POLICY Chapter 32. Fiscal Policy Chapter 33. Monetary Policy Chapter 34. International Finance