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This text examines major issues pertaining to education, health care, Social Security, unemployment, inflation, and international trade. It also examines social and political phenomena, such as the collapse of communism and central planning, the role of government in a modern economy, crime and drugs, poverty, and the failure of some economies to grow. The book maximizes the advantages of the issues approach by examining issues that interest students, while developing core economic principles, providing insights and challenges, and an analytical framework - all of which emphasize critical thinking. Students who study this textbook will develop an increased interest in economics, seeing it as important in understanding issues that affect them personally, as well as in understanding today's headlines. This book develops principles and applications to issues more thoroughly and provides much more of an international perspective than most of the others like it on the market.
1. Economic Growth: An Introduction to Scarcity and Choice. 2. An Introduction to Economic Systems and the Workings of the Price System. 3. Inefficiency: The Pervasive Economic Problem. 4. Competitive Markets and Government Policy: Agriculture. 5. Market Power: Does It Help or Hurt the Economy? 6. Air Pollution: Balancing Benefits and Costs. 7. Health Care Reform: How Much? 8. Crime and Drugs: A Modern Dilemma. 9. College Education: Is It Worth the Cost? 10. Educational Reform: The Role of Incentives and Choice. 11. Social Security: Where Are We? Where Are We Going? 12. Poverty, Income Distribution, and Discrimination. 13. Tracking the Macroeconomy. 14. Unemployment: A Recurring Problem. 15. Inflation: A Monetary Phenomenon. 16. Budget Deficits, Surpluses, and the National Debt: What Legacy? 17. The Global Economy: Trade. 18. The Global Economy: Finance.