Principles of Economics
Free

Principles of Economics

By [Author removed at request of original publisher]
Free
Book Description

This book is intended for a two-semester course in Economics taught out of the social sciences or business school. Principles of Economics aims to teach considerable range and depth of Economic concepts through an approachable style and methodology. The authors take a three-pronged approach to every chapter: The concept is covered with a “Heads Up” to ward off confusion, a real-world application for that concept, and a “You Try It” section to make sure students are staying on top of the concept.

https://doi.org/10.24926/8668.1601
ISBN: 978-1-946135-16-2

Table of Contents
  • Cover
  • Title Page
  • Copyright
  • Table Of Contents
  • Publisher Information
  • About the Authors
  • Acknowledgments
  • Preface
  • Chapter 1: Economics: The Study of Choice
    • 1.1 Defining Economics
    • 1.2 The Field of Economics
    • 1.3 The Economists’ Tool Kit
    • 1.4 Review and Practice
  • Chapter 2: Confronting Scarcity: Choices in Production
    • 2.1 Factors of Production
    • 2.2 The Production Possibilities Curve
    • 2.3 Applications of the Production Possibilities Model
    • 2.4 Review and Practice
  • Chapter 3: Demand and Supply
    • 3.1 Demand
    • 3.2 Supply
    • 3.3 Demand, Supply, and Equilibrium
    • 3.4 Review and Practice
  • Chapter 4: Applications of Demand and Supply
    • 4.1 Putting Demand and Supply to Work
    • 4.2 Government Intervention in Market Prices: Price Floors and Price Ceilings
    • 4.3 The Market for Health-Care Services
    • 4.4 Review and Practice
  • Chapter 5: Elasticity: A Measure of Response
    • 5.2 Responsiveness of Demand to Other Factors
    • 5.3 Price Elasticity of Supply
    • 5.4 Review and Practice
    • 5.1 The Price Elasticity of Demand
  • Chapter 6: Markets, Maximizers, and Efficiency
    • 6.1 The Logic of Maximizing Behavior
    • 6.2 Maximizing in the Marketplace
    • 6.3 Market Failure
    • 6.4 Review And Practice
  • Chapter 7: The Analysis of Consumer Choice
    • 7.1 The Concept of Utility
    • 7.2 Utility Maximization and Demand
    • 7.3 Indifference Curve Analysis: An Alternative Approach to Understanding Consumer Choice
    • 7.4 Review and Practice
  • Chapter 8: Production and Cost
    • 8.1 Production Choices and Costs: The Short Run
    • 8.2 Production Choices and Costs: The Long Run
    • 8.3 Review and Practice
  • Chapter 9: Competitive Markets for Goods and Services
    • 9.1 Perfect Competition: A Model
    • 9.2 Output Determination in the Short Run
    • 9.3 Perfect Competition in the Long Run
    • 9.4 Review and Practice
  • Chapter 10: Monopoly
    • 10.2 The Monopoly Model
    • 10.3 Assessing Monopoly
    • 10.4 Review and Practice
    • 10.1 The Nature of Monopoly
  • Chapter 11: The World of Imperfect Competition
    • 11.1 Monopolistic Competition: Competition Among Many
    • 11.2 Oligopoly: Competition Among the Few
    • 11.3 Extensions of Imperfect Competition: Advertising and Price Discrimination
    • 11.4 Review and Practice
  • Chapter 12: Wages and Employment in Perfect Competition
    • 12.1 The Demand for Labor
    • 12.2 The Supply of Labor
    • 12.3 Labor Markets at Work
    • 12.4 Review and Practice
  • Chapter 13: Interest Rates and the Markets for Capital and Natural Resources
    • 13.1 Time and Interest Rates
    • 13.2 Interest Rates and Capital
    • 13.3 Natural Resources and Conservation
    • 13.4 Review and Practice
  • Chapter 14: Imperfectly Competitive Markets for Factors of Production
    • 14.1 Price-Setting Buyers: The Case of Monopsony
    • 14.2 Monopsony and the Minimum Wage
    • 14.3 Price Setters on the Supply Side
    • 14.4 Review and Practice
  • Chapter 15: Public Finance and Public Choice
    • 15.2 Financing Government
    • 15.3 Choices in the Public Sector
    • 15.4 Review and Practice
    • 15.1 The Role of Government in a Market Economy
  • Chapter 16: Antitrust Policy and Business Regulation
    • 16.1 Antitrust Laws and Their Interpretation
    • 16.2 Antitrust and Competitiveness in a Global Economy
    • 16.3 Regulation: Protecting People from the Market
    • 16.4 Review and Practice
  • Chapter 17: International Table
    • 17.1 The Gains from Trade
    • 17.2 Two-Way Trade
    • 17.3 Restrictions on International Trade
    • 17.4 Review and Practice
  • Chapter 18: The Economics of the Environment
    • 18.1 Maximizing the Net Benefits of Pollution
    • 18.2 Alternatives in Pollution Control
    • 18.3 Review and Practice
  • Chapter 19: Inequality, Poverty, and Discrimination
    • 19.1 Income Inequality
    • 19.2 The Economics of Poverty
    • 19.3 The Economics of Discrimination
    • 19.4 Review and Practice
  • Chapter 20: Macroeconomics: The Big Picture
    • 20.1 Growth of Real GDP and Business Cycles
    • 20.2 Price-Level Changes
    • 20.3 Unemployment
    • 20.4 Review and Practice
  • Chapter 21: Measuring Total Output and Income
    • 21.1 Measuring Total Output
    • 21.2 Measuring Total Income
    • 21.3 GDP and Economic Well-Being
    • 21.4 Review and Practice
  • Chapter 22: Aggregate Demand and Aggregate Supply
    • 22.1 Aggregate Demand
    • 22.2 Aggregate Demand and Aggregate Supply: The Long Run and the Short Run
    • 22.3 Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium
    • 22.4 Review and Practice
  • Chapter 23: Economic Growth
    • 23.1 The Significance of Economic Growth
    • 23.2 Growth and the Long-Run Aggregate Supply Curve
    • 23.3 Determinants of Economic Growth
    • 23.4 Review and Practice
  • Chapter 24: The Nature and Creation of Money
    • 24.1 What Is Money?
    • 24.2 The Banking System and Money Creation
    • 24.3 The Federal Reserve System
    • 24.4 Review and Practice
  • Chapter 25: Financial Markets and the Economy
    • 25.1 The Bond and Foreign Exchange Markets
    • 25.2 Demand, Supply, and Equilibrium in the Money Market
    • 25.3 Review and Practice
  • Chapter 26: Monetary Policy and the Fed
    • 26.1 Monetary Policy in the United States
    • 26.2 Problems and Controversies of Monetary Policy
    • 26.3 Monetary Policy and the Equation of Exchange
    • 26.4 Review and Practice
  • Chapter 27: Government and Fiscal Policy
    • 27.1 Government and the Economy
    • 27.2 The Use of Fiscal Policy to Stabilize the Economy
    • 27.3 Issues in Fiscal Policy
    • 27.4 Review and Practice
  • Chapter 28: Consumption and the Aggregate Expenditures Model
    • 28.1 Determining the Level of Consumption
    • 28.2 The Aggregate Expenditures Model
    • 28.3 Aggregate Expenditures and Aggregate Demand
    • 28.4 Review and Practice
  • Chapter 29: Investment and Economic Activity
    • 29.1 The Role and Nature of Investment
    • 29.2 Determinants of Investment
    • 29.3 Investment and the Economy
    • 29.4 Review and Practice
  • Chapter 30: Net Exports and International Finance
    • 30.1 The International Sector: An Introduction
    • 30.2 International Finance
    • 30.3 Exchange Rate Systems
    • 30.4 Review and Practice
  • Chapter 31: Inflation and Unemployment
    • 31.1 Relating Inflation and Unemployment
    • 31.2 Explaining Inflation–Unemployment Relationships
    • 31.3 Inflation and Unemployment in the Long Run
    • 31.4 Review and Practice
  • Chapter 32: A Brief History of Macroeconomic Thought and Policy
    • 32.1 The Great Depression and Keynesian Economics
    • 32.2 Keynesian Economics in the 1960s and 1970s
    • 32.3. An Emerging Consensus: Macroeconomics for the Twenty-First Century
    • 32.4 Review and Practice
  • Chapter 33: Economic Development
    • 33.4 Review and Practice
    • 33.1 The Nature and Challenge of Economic Development
    • 33.2 Population Growth and Economic Development
    • 33.3 Keys to Economic Development
  • Chapter 34: Socialist Economies in Transition
    • 34.1 The Theory and Practice of Socialism
    • 34.2 Socialist Systems in Action
    • 34.3 Economies in Transition: China and Russia
    • 34.4 Review and Practice
  • Appendix A: Graphs in Economics
  • Appendix A.1: How to Construct and Interpret Graphs
  • Appendix A.2: Nonlinear Relationships and Graphs without Numbers
  • Appendix A.3: Using Graphs and Charts to Show Values of Variables
  • Appendix B: Extensions of the Aggregate Expenditures Model
  • Appendix B.1: The Algebra of Equilibrium
  • Appendix B.2: The Aggregate Expenditures Model and Fiscal Policy
  • Appendix B.3: Review and Practice
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