Economics by Example / Edition 1

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Lively, surprising, yet filled with solid economic content, Economics by Example is for students who want to understand why they should study economics while in the process of learning it. This concise paperback introduces economic principles in the context of real-life applications, with much to say about how the economic way of thinking can improve students' decisions. Economics by Example was created to support traditional texts but it can also be used on its own, in courses requiring minimal mathematics or graphical analysis.

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Product Details

  • ISBN-13: 9780716769347
  • Publisher: Worth Publishers
  • Publication date: 11/3/2006
  • Edition description: First Edition
  • Edition number: 1
  • Pages: 352
  • Product dimensions: 7.52 (w) x 9.25 (h) x 0.48 (d)

Table of Contents


Part 1 Introduction
1. What's to love about economics?: Virtues of the Economic Way of Thinking
2. Why did the cashier let Biff Henderson eat all the free mints?: An Introduction to the Power of Incentives

Part 2 Supply and Demand?
3. The coffee market's hot, why are bean prices not?: Insights Into Supply and Demand
4. Why was the great newspaper heist so easy?: Diminishing Marginal Utility and the Price Elasticity of Demand

Part 3 Markets and Decisions
5. How can economics influence your choice of a spouse?: Supply, Demand, and Price Signals in the Marriage Market
6. Is Adam Smith Rolling Over in his Grave?: Perfect Competition, Efficiency, and the Father of Modern Economics

Part 4 Production
7. Why are there more members of a band than professors in a class?: Diminishing Marginal Returns and the Demand for Labor
8. Could the Future Cost of Energy change Life as we Know It?: Production Costs and the Inescapable Demand for Energy

Part 5 Consumer Choice
9. Why is cash the ultimate gift?: Optimal Consumption, Deadweight Loss, and the Virtues of Flexible Spending
10. Why should we pay for what we throw away?: Incentives for Efficiency From Pay-Per-Unit Pricing

Part 6 Efficiency
11. Why not split the check?: A Briefing on Market Failure
12. How gullible are we?: Information Problems and their Applications to Schools of Economic Thought

Part 7 Market Power
13. What's behind the music industry's woes?: The Sound of Market Power
14. Wal-Mart: Friend or Foe?: Economies of Scale, Low Prices, Low Wages, and Thinking Outside the Box

Part 8 Risk, Uncertainty, and the Market
15. What is the value of human life?: Reasons and Methods for Placing Finite Values on Unidentified Human Lives
16. Do potential criminals contemplate their fate?: Making Incentives Matter in the Face of Risk and Uncertainty

Part 9 Public Policy
17. Should damage awards in lawsuits be capped?: Benefits and Costs of Limiting the Burden of Litigation
18. What's to love about taxes?: Free Riding on Public Goods, Deadweight Loss, and the Lesser of Two Evils

Part 10 Technology and Innovation
19. Will technology put us all out of work?: Unemployment, Creative Destruction, and Quality of Life
20. Do pharmaceutical patents cost lives or save them?:Balancing Incentives for Innovation with Prices More Disease Victims can Afford

Part 11 The Macroeconomy
21. Why do we neglect leisure and cheer for divorce?: The Divergence of Gross Domestic Product and Measures of Well-Being
22. Does the money supply matter?:Money, the Fed, and the Debate over Optimal Monetary Policy

Part 12 Growth and Employment
23. What's to like about outsourcing?: The Influence of International Labor Markets
24. Do tree huggers deter growth and employment?:Myths, Labor Markets, and Environmentalism

Part 13 Macroeconomic Policy
25. How much debt is too much?: Expenditure Smoothing, Ricardian Equivalence, Crowding Out, and Investments for the Future / 26. What is the role of government?: Political-Economic Systems, Snags in Private Solutions, and Remedies with a Role for Government

Part 14 International Economics
27. Is globalization a bad word?: Comparative Advantage, Culture Clashes, and Organizations meant to Make the Most of Global Markets
28. Why are some nations rich and others poor?: Growth Models, Miracles, and the Determinants of Economic Development

Part 15 Global Issues
29. Pollution: How Might Economics help save the planet?: Cap and Trade Programs as a Market Solution to Problems Small and Large
30. Immigration: How welcoming should lady liberty be? The Costs and Benefits of Relatively Open Borders

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