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Economics is a subject you learn by doing. Essential Foundations of Economics breaks the mold of a traditional text and becomes a practice-oriented learning system. Each chapter uses a Checklist to focus readers' attention on the most important key concepts. A discrete section introduces each of these core concepts and is immediately followed by a Checkpoint, a full page of practice that applies the concept. The result is a patient, confidence-building approach that prepares readers to use economics in their lives, regardless of what their future career will be.
Introduction: Getting Started; The U.S. and Global Economies; The Economic Problem; Demand and Supply. A Closer Look at Markets: Elasticities of Demand and Supply; Efficiency and Fairness of Markets; Government Influences on Markets; Global Markets in Action. Prices, Profits, and Industry Performance: Externalities; Production and Cost; Perfect Competition; Monopoly; Monopolistic Competition and Oligopoly. Monitoring the Macroeconomy: GDP and the Standard of Living; The CPI and the Cost of Living; Jobs and Unemployment. Understanding the Macroeconomy: Potential GDP and Economic Growth; Money and the Monetary System; AS-AD and the Business Cycle; Fiscal Policy and Monetary Policy.
For all readers interested in economics.
Part 1 Introduction
Chapter 1 Getting Started Chapter 2 The U.S. and Global Economies Chapter 3 The Economic Problem Chapter 4 Demand and Supply
Part 2 A Closer Look at Markets
Chapter 5 Elasticities of Demand and Supply Chapter 6 Efficiency and Fairness of Markets Chapter 7 Government Influences on Markets Chapter 8 Global Markets in Action
Part 3 Prices, Profits, and Industry Performance
Chapter 9 Externalities Chapter 10 Production and Cost Chapter 11 Perfect Competition Chapter 12 Monopoly Chapter 13 Monopolistic Competition and Oligopoly
Part 4 Monitoring the Macroeconomy
Chapter 14 GDP and the Standard of Living Chapter 15 The CPI and the Cost of Living Chapter 16 Jobs and Unemployment
Part 5 Understanding the Macroeconomy
Chapter 17 Potential GDP and Economic Growth Chapter 18 Money and the Monetary System Chapter 19 AS-AD and the Business Cycle Chapter 20 Fiscal Policy and Monetary Policy