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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
|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|
|Global Markets in Action|
|Public Goods and Common Resources|
|A Closer Look at Decision Makers|
|Consumer Choice and Demand|
|Production and Cost|
|Prices, Profits, and Industry Performance|
|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|
|Investment, Saving, and the Real Interest Rate|
|The Money Economy|
|The Monetary System|
|Money, Interest, and Inflation|
|AS-AD and the Business Cycle|
|The Short-Run Policy Tradeoff|
|Table of Contents provided by Publisher. All Rights Reserved.|