A Beginner's Guide to the World Economy: Eighty-one Basic Economic Concepts That Will Change the Way You See the World / Edition 3

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In the past decade of rapid change in the world economy, Randy Charles Epping's Beginner’s Guide to the World Economy has been the most reliable tool for keeping track of what's happening. The third edition updates the information in previous editions and explains many new concepts.

What is the new economy? What is globalization? Is the euro the final seal on European Union? How is e-commerce transforming our world beyond economics? What is virtual money, and does it have real value? How do social concerns and societal ills (drugs, poverty, AIDS, endangered natural resources) play a part in the rapidly changing world economy. What are multinationals, and do they signal the end of nationalism? These and many other pertinent issues are concisely addressed in the most accessible primer for those who want to be economically literate (and who doesn't?).

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Product Details

  • ISBN-13: 9780375725791
  • Publisher: Knopf Doubleday Publishing Group
  • Publication date: 5/1/2001
  • Edition description: REVISED
  • Edition number: 3
  • Pages: 256
  • Sales rank: 841,746
  • Product dimensions: 5.19 (w) x 7.99 (h) x 0.54 (d)

Table of Contents


1. What Is the World Economy?
2. How Is Wealth Determined Around the World?
3. What Is Macroeconomics?
4. How Does International Trade Work?
5. What Is Globalization?
6. What Are Trade Surpluses and Deficits?
7. What Is Money?
8. What Are the World’s Major Currencies?
9. What Is the Euro?
10. What Is Virtual Money?
11. What Are Freely Floating Currencies?
12. What Are Exchange Rates?
13. What Is GNP/GDP?
14. How Are the World’s Economies Compared?
15. What Is Money Supply?
16. What Is Inflation?
17. What Is a Central Bank?
18. How Do Central Banks Regulate an Economy?
19. How Are Interest Rates Used to Control Economic Growth?
20. What Is Free Trade?
21. What Are Quotas, Tariffs, and Subsidies?
22. What Is the WTO?
23. Who Invests in the Global Marketplace?
24. What Is Equity?
25. Why Are Companies Referred to as Ltd., Inc., GmbH, or S.A.?
26. What Is a Balance Sheet?
27. What Is a Profit and Loss Statement?
28. What Is Net Worth?
29. What Is Bankruptcy?
30. What Is Venture Capital?
31. What Is an IPO?
32. What Is a Leveraged Buyout?
33. What Is a Multinational?
34. What Are the Risks of International Investing?
35. What Is a Stock Index?
36. How Do Investors Buy Foreign Shares?
37. What Is an Equity Fund?
38. What Is a Capital Market?
39. What Is a Bond?
40. What Are Eurocurrencies and Eurobonds?
41. How Are Ratings Used to Evaluate International Investments?
42. How Is Gold Part of the World Economy?
43. What Are Derivatives?
44. What Is an Option?
45. What Are Stock Options?
46. What Is a Currency Option?
47. What Is a Hedge Fund?
48. What Is Hot Money?
49. What Is the New Economy?
50. How Can New Economy Companies Be Compared to Traditional Companies?
51. What Is E-Commerce?
52. What Is the European Union?
53. How Are Communist Countries Transformed by Capitalism?
54. How Is the Former Soviet Bloc Being Integrated into the World Economy?
55. What Are the Tiger Economies of Southeast Asia?
56. What Is Japan Inc.?
57. What Is the Third World?
58. What Is Hyperinflation?
59. What Causes the Income Gap Between Rich and Poor Countries?
60. What Can Be Done to Promote Third World Development?
61. What Is the World Bank?
62. What Is the IMF?
63. What Are Economic Austerity Plans?
64. What Is Dollarization?
65. What Is NAFTA?
66. What Are Free-Trade Megazones?
67. What Are the OECD and G7/G8?
68. What Are Regional Development Banks?
69. What Role Do Charities and NGOs Play in the World Economy?
70. How Is Corruption Part of the World Economy?
71. What Is Money Laundering?
72. How Does a Swiss Bank Account Work?
73. What Are Tax Havens?
74. How Are Illegal Goods Traded on the World’s Black Markets?
75. What Is Economic Espionage?
76. How Is the Environment Affected by the World Economy?
77. How Can Economic Incentives Be Used to Reduce Pollution?
78. How Does Immigration Affect the World Economy?
79. How Are Slavery and Child Labor Part of the World Economy?
80. What Is the Effect of the AIDS Epidemic on the World Economy?
81. What Are Economic Sanctions?


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  • Anonymous

    Posted August 4, 2004


    A very detailed overview on WORLD Economy issues and terms. I really love the way the author used his own style of order towards the subjects in which it can be read from front to back or any order pertaining which term of interest you choose first. From understanding more in depth of hedge funds, central banks, swiss banks accounts and many more definitions this book has furthered my knowledge to beyond now.

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  • Anonymous

    Posted September 25, 2001

    A Great Starting Point

    I have been reading 'The Economist' for over a year and really felt like I needed to gain a deeper understanding about Economics. This was the first book I read and I was not disappointed at all. My only real nitpick is that he does not explain the concept of the 'core' of an ecnonomy for example 'core inflation' which is something mentioned regularly when I read Economic news.

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