Fundamentals of Economics

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  • Edition: 1st
  • Format: Paperback
  • Copyright: 1998-10-01
  • Publisher: Houghton Mifflin College Div
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Fundamentals of Economics is a concise but thorough survey of economics for instructors desiring a brief, practical text. Based on the comprehensive two-semester text by the same authors, this version of Economics "boils down" the formal economic theories and concepts into their essential parts, emphasizing domestic and international applications and policy issues.

Table of Contents

Note: Each chapter includes a Summary
Key Terms
Exercises, and a Study Guide
The Price System
Economics and the World Around You
The Definition of Economics Specialization and Exchange Trade Appendix to Chapter 1: Working with Graphs
The Production Possibilities Curve Reading and Constructing Graphs Application: The PPC
Markets and the Market Process
Allocation Mechanisms
How Markets Function Demand Supply Equilibrium
Putting Demand and Supply
Together Alternatives to Market Allocation
Applications of Demand and Supply
The Market for Low-Carb Foods
The Labor Market Market Intervention
Medical Care, Rent Controls, and Agricultural Price Supports
Consumers, Firms, and Social Issues
The Firm and the Consumer Revenue
How Does a Firm Learn About Its Demand?
Knowing the Customer What's to Come?
Costs and Profit
Maximization Costs Maximizing Profit
The Profit-Maximizing Rule: MR = MC
Competition and Market Structures
Characteristics of the Market Structures
Firm Behavior in the Long Run
The Benefits of Competition
Competition, Cooperation, and the Government Price Strategies for Independent Firms
Firm Behavior When There Are Few Rivals Government and Firms
Social Issues
The Environment Illicit Drugs
Discrimination Minimum Wages Income Inequality and Poverty
The National and Global Economies
An Overview of the National and International
Economies Households Business Firms The International Sector
Overview of the U.S. Government Linking the Sectors
Macroeconomic Measures
Measures of Output and Income Nominal and Real Measures Flows of Income and Expenditures
The Foreign Exchange Market The Balance of Payments
Unemployment, Inflation, and Business Cycles Business Cycles Unemployment Inflation
Macroeconomic Equilibrium
Aggregate Demand and Supply Aggregate Demand, Aggregate Supply, and Business
Cycles Factors That Influence Aggregate Demand
The Aggregate Demand Curve Aggregate Supply
Aggregate Demand and Supply Equilibrium
Fiscal Policy
Fiscal Policy and Aggregate Demand
Fiscal Policy in the United States Fiscal Policy in Different Countries
Money and Banking What is Money?
Banking Banks and the Money Supply
Macroeconomic Policy
Monetary Policy
The Federal Reserve System Implementing Monetary Policy
Monetary Policy and Equilibrium Income
The European Central Bank
Macroeconomic Policy
Business Cycles, and Growth
The Phillips Curve
The Role of Expectations Sources of Business Cycles
The Link Between Monetary and Fiscal Policies Economic Growth
Issues in International
Trade and Finance
An Overview of World
Trade International
Trade Restrictions Exchange Rate Systems and Practices
The Meaning of Globalization
Globalization Controversy
Globalization, Economic Growth, and Incomes
Financial Crises and Globalization
Table of Contents provided by Publisher. All Rights Reserved.

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