Foundations of Microeconomics

by Bade, Robin; Parkin, Michael

• ISBN13: 9780321522535
• ISBN10: 0321522532
• Edition: 4th
• Format: Hardcover
• Copyright: 2009-01-01
• Publisher: Prentice Hall

Summary

Economics is a subject youlearn by doing.Foundations of Economicsbreaks the mold of a traditional text and becomes a practice-oriented learning system. Each chapter uses a Checklist to focus readers'attention on the most important key concepts. A discrete section introduces each of these core concepts and is immediately followed by a Checkpoint, a full page of practice that applies the concept. The result is a patient, confidence-building approach that prepares readers touseeconomics in their lives, regardless of what their future career will be. Introduction:Getting Started; The U.S. and Global Economies; The Economic Problem; Demand and Supply.A Closer Look at Markets:Elasticities of Demand and Supply; Efficiency and Fairness of Markets.How Governments Influence the Economy:Markets in Action; Taxes; Global Markets in Action; Externalities; Public Goods and Common Resources. A Closer Look at Decision Makers:Consumer Choice and Demand; Production and Cost.Prices, Profits, and Industry Performance:Perfect Competition; Monopoly; Monopolistic Competition; OligopolyIncomes, Uncertainty, and Inequality:Demand and Supply in Factor Markets; Uncertainty and Information; Inequality and Poverty.Monitoring the Macroeconomy:GDP and the Standard of Living; The CPI and the Cost of Living; Jobs and Unemployment.The Real Economy:Potential GDP and the Natural Unemployment Rate; Economic Growth; Investment, Saving, and the Real Interest Rate.The Money Economy:The Monetary System; Money, Interest, and Inflation.Economic Fluctuations:AS-ADand the Business Cycle; Aggregate Expenditure; The Short-Run Policy Tradeoff.Macroeconomic Policy:Fiscal Policy; Monetary Policy; International Finance. For all readers interested in economics.

Table of Contents

Introduction

Getting Started

The U.S. and Global Economies

The Economic Problem

Demand and Supply

A Closer Look at Markets

Elasticities of Demand and Supply

Efficiency and Fairness of Markets

How Governments Influence the Economy

Markets in Action

Taxes

Global Markets in Action

Externalities

Public Goods and Common Resources

A Closer Look at Decision Makers

Consumer Choice and Demand

Production and Cost

Prices, Profits, and Industry Performance

Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Incomes, Uncertainty, and Inequality

Demand and Supply in Factor Markets

Uncertainty and Information

Inequality and Poverty

Monitoring the Macroeconomy

GDP and the Standard of Living

The CPI and the Cost of Living

Jobs and Unemployment

The Real Economy

Potential GDP and the Natural Unemployment Rate

Economic Growth

Investment, Saving, and the Real Interest Rate

The Money Economy

The Monetary System

Money, Interest, and Inflation

Economic Fluctuations

AS-AD and the Business Cycle

Aggregate Expenditure

The Short-Run Policy Tradeoff

Macroeconomic Policy

Fiscal Policy

Monetary Policy

International Finance

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