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The Only Economics Book You Will Ever Need. Economics isn't just about numbers: It's about politics, psychology, history, and so much more. We are all economists-when we work, save for the future, invest, pay taxes, and buy our groceries. Yet many of us feel lost when the subject arises. Award-winning professor Timothy Taylor tackles all the key questions and hot topics of both microeconomics and macroeconomics, including: * Why do budget deficits matter? * What exactly does the Federal Reserve do? * Does globalization take jobs away from American workers? * Why is health insurance so costly? The Instant Economistoffers the knowledge and sophistication to understand the issues- so you can understand and discuss economics on a personal, national, and global level.
Timothy Taylor is managing editor of the American Economics Association's Journal of Economic Perspectives. He won numerous teaching awards for his classes at Stanford University and was named a distinguished lecturer at the University of Minnesota. He lives in St. Paul, Minnesota.
Table of Contents
|How Economists Think||p. 1|
|Division of Labor||p. 7|
|Supply and Demand||p. 12|
|Price Floors and Ceilings||p. 22|
|The Labor Market and Wages||p. 34|
|Financial Markets and Rates of Return||p. 42|
|Personal Investing||p. 49|
|From Perfect Competition to Monopoly||p. 58|
|Antitrust and Competition Policy||p. 64|
|Regulation and Deregulation||p. 71|
|Negative Externalities and the Environment||p. 76|
|Positive Externalities and Technology||p. 81|
|Public Goods||p. 87|
|Poverty and Welfare Programs||p. 90|
|Imperfect Information and Insurance||p. 103|
|Corporate and Political Governance||p. 110|
|Macroeconomics and Gross Domestic Product||p. 118|
|Economic Growth||p. 124|
|Unemployment||p. 13 0|
|The Balance of Trade||p. 144|
|Aggregate Supply and Aggregate Demand||p. 152|
|The Unemployment-Inflation Trade-off||p. 157|
|Fiscal Policy and Budget Deficits||p. 163|
|Countercyclical Fiscal Policy||p. 170|
|Budget Deficits and National Saving||p. 177|
|Money and Banking||p. 184|
|The Federal Reserve and Its Powers||p. 191|
|The Conduct of Monetary Policy||p. 201|
|The Gains of International Trade||p. 210|
|The Debates over Protectionism||p. 217|
|Exchange Rates||p. 225|
|International Financial Crashes||p. 234|
|A Global Economic Perspective||p. 242|
|Table of Contents provided by Ingram. All Rights Reserved.|