Covering both Micro and Macroeconomics in one concise paperback volume, this book shows readers how to think and act like an economist by showing them how to use economic concepts in their everyday lives and careers. Organized around the Five Key Principles of Economics The Principle of Opportunity Cost, The Marginal Principle, The Principle of Diminishing Returns, The Spillover Principle, and The Reality Principle. For economists and those making financial decisions and analyses.
Table of Contents
1. Principles of Economics. 2. Supply, Demand, and Market Equilibrium. 3. Elasticity: A Measure of Responsiveness. 4. Production and Cost. 5. Perfect Competition: Short Run and Long Run. 6. Monopoly. 7. Monopolistic Competition, Oligopoly, and Antitrust. 8. Public Goods, Spillovers, and Imperfect Information. 9. The Labor Market. 10. Measuring a Nation's Production and Income. 11. Unemployment and Inflation. 12. Why Do Economies Grow? 13. Aggregate Demand and Aggregate Supply. 14. Keynesian Economics and Fiscal Policy. 15. Money, the Banking System, and the Federal Reserve. 16. Monetary Policy and Inflation. 17. International Trade and Finance.