Fundamentals of Economics

by BOYES W

• ISBN13: 9780395903391
• ISBN10: 0395903394
• Edition: 1st
• Format: Paperback
• Copyright: 1998-10-01
• Publisher: Houghton Mifflin College Div

Summary

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

Globalization

The Meaning of Globalization

Globalization Controversy

Globalization, Economic Growth, and Incomes

Financial Crises and Globalization

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