Fundamentals of Economics

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  • Edition: 2nd
  • Format: Paperback
  • Copyright: 2002-08-05
  • Publisher: South-Western College Pub
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Fundamentals of Economicsremains the first brief survey textbook to thoroughly integrate international economic issues while retaining concise coverage of core economic models. Fundamental Questionspreview key points at the beginning of each chapter, reappear next to the relevant in-text discussion, and form the basis of chapter-ending summaries. International topics include the effects of exchange rates on individual markets, price discrimination on an international scale, multinationals, measuring national and international economies, a comparative analysis of different countries' fiscal policies, and international banking.

Table of Contents

The Price System
Economics and the World Around You
The Definition of Economics Specialization and Exchange Trade
Appendix: 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 Fast 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 What's to Come?
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 Implement 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
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