Economics: Principles and Tools

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  • Edition: 3rd
  • Format: Hardcover
  • Copyright: 2003-01-01
  • Publisher: Pearson College Div
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This modern, Micro first book has a strong foundation in demand and supply. Its thoughtful coverage of change in demand vs. change in quantity demanded (also in supply coverage) enables readers to better visualize and truly understand the difference between these 2 fundamental concepts. Its hallmark feature includes a focus on the 5 Key Principles of Economics: 1) Opportunity Cost, 2) The Marginal Principle (comparing marginal benefits and marginal costs), 3) Diminishing Returns, 4) The Spillover Principle (for externalities in production and consumption), and, 5) The Reality Principle (distinguishing real from nominal magnitudes). For economists, financial analysts and other finance professionals.

Table of Contents

PART 1 Introduction and Key Principles
Introduction: What is Economics
Key Principles of Economics
Markets in the Global Economy
Supply Demand, and Market Equilibrium
PART 2 Closer Look at supply and Demand
Elasticity: A Measure of Responsiveness
Market Efficiency and Government Intervention
Consumer Choice
PART 3 Market Structures and Pricing
Production and Cost
Perfect Competition: Short Run and long Run
Entry and Monopolistic Competition
Oligopoly and Strategic Behavior
Using Market Power: Price Discrimination - and Advertising
Controlling Market Power: Antitrust Policy and Deregulation
PART 4 Spillovers and Information
Imperfect Information and Disappearing Markets
Public Goods, Taxes, and Public Choice
Environmental Policy
PART 5 The Labor Market and Economics Challenges
The Labor Market
Economic Challenges: Poverty, Aging, health care
PART 6 The Basic Concept in Macroeconomics
Measuring a Nation's Production and Income
Unemployment and Inflation
PART 7 The Economy in the Long Run
Classical Economics: The Economy and Full Employment
Why Do Economic Grow?
PART 8 Economic Fluctuations
Aggregate Demand and Aggregate Supply
Keynesian Economic and Fiscal Policy
Investment and Financial Intermediation
PART 9 Money, Banking, and Monetary Policy
Money, the Banking System, and the Federal Reserve
Monetary Policy in the Short Run
PART 10 Inflation, Unemployment, and Economic Policy
From the Short Run to the Long Run
The Dynamics of Inflation and Unemployment
Current Issues in Macroeconomic Policy
PART 11 The International Economy
International Trade and Public Policy
The world of International Finance

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