Principles of Economics (Book with CD-ROM)

by Gottheil, Fred M.

• ISBN13: 9780324125719
• ISBN10: 0324125712
• Edition: 3rd
• Format: Hardcover
• Copyright: 2001-07-01
• Publisher: Cengage Learning

Summary

The principles of economics are easily conveyed in a superb conversational style, using a series of stories, anecdotes, and extended examples that all readers can relate and respond to. Gottheil maintains a focus on presenting basic concepts in depth and developing economics analysis step-by-step, rather than covering hundreds of topics superficially. An "Economic Consultants" feature places readers in the role of economist for a hypothetical economic research and analysis firm and requires economic thinking and analysis, It also asks them to prepare a report addressing fundamental economic issues. Useful Internet addresses are included to help with research and analysis.

Table of Contents

PART 1 THE BASICS OF ECONOMIC ANALYSIS	1	(72)
Introduction	2	(22)
Production Possibilities and Opportunity Costs	24	(20)
Demand and Supply	44	(29)
PART 2 INTRODUCTION TO MICROECONOMICS	73	(94)
Elasticity	74	(26)
Marginal Utility and Consumer Choice	100	(26)
Price Ceilings and Price Floors	126	(23)
Business Ownership and Organization: Proprietorships, Partnerships, and Corporations	149	(18)
PART 3 THE MICROECONOMICS OF PRODUCT MARKETS	167	(180)
Costs of Production	169	(29)
Maximizing Profit	198	(20)
Identifying Markets and Market Structures	218	(26)
Price and Output In Monopoly, Monopolistic Competition, and Perfect Competition	244	(26)
Price and Output Determination Under Oligopoly	270	(29)
Antitrust and Regulation	299	(27)
Externalities, Market Failure, and Public Choice	326	(21)
PART 4 THE MICROECONOMICS OF FACTOR MARKETS	347	(102)
Wage Rates In Competitive Labor Markets	349	(32)
Wages and Employment: Monopsony and Labor Unions	381	(20)
Interest, Rent, and Profit	401	(22)
Income Distribution and Poverty	423	(26)
PART 5 EMPLOYMENT, INFLATION, AND FISCAL POLICY	449	(148)
Aggregate Demand and Aggregate Supply	451	(25)
Gross Domestic Product Accounting	476	(22)
Consumption and Investment	498	(25)
Equilibrium National Income	523	(24)
Fiscal Policy: Coping with Inflation and Unemployment	547	(25)
Long-Run Economic Growth and Business Cycles	572	(25)
PART 6 MONEY, BANKING, AND MONETARY POLICY	597	(76)
Money	599	(22)
Money Creation and the Banking System	621	(21)
The Federal Reserve System and Monetary Policy	642	(31)
PART 7 GOVERNMENT AND THE MACROECONOMY	673	(72)
Can Government Really Stabilize the Economy?	674	(29)
Government Spending	703	(19)
Financing Government: Taxes and Debt	722	(23)
PART 8 THE WORLD ECONOMY	745
International Trade	747
Exchange Rates, Balance of Payments, and International Debt	776
The Economic Problems of Less-Developed Economies	801
Practice Test Answer Key	AK-1
Glossary	G-1
Index	I-1
Photo Credits	PC-1