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This easy to read, accessible, macro-first principles book engages readers with familiar real-world examples and applications that bring economics to life.
This book discusses the macro economy, aggregate supply and aggregate demand, incentives for productivity, money and monetary policy, microeconomic foundations, output markets, input markets, market failure and government action, and the global economy.
For financial planners and analysts making personal decisions and evaluating policy decisions.
(NOTE: Each chapter contains sections titled A look Ahead, Chapter Summary, Key Terms, Test Yourself, Questions and Problems, and Working with Graphs and Data.)
I. A JOURNEY THROUGH THE ECONOMY.
1. The Economic Perspective.
2. Production and Trade.
3. Demand and Supply.
4. The Power of Prices.
II. MONITORING THE MACRO ECONOMY.
5. Measuring National Output.
III. AGGREGATE SUPPLY AND AGGREGATE DEMAND.
8. A Framework for Macroeconomic Analysis.
9. Fiscal Policy and Short-Run Instability.
10. Aggregate Expenditures.
IV. INCENTIVES FOR PRODUCTIVITY.
11. Fiscal Policy in Action.
12. Economic Growth.
V. MONEY AND MONETARY POLICY.
13. Money, Banking, and the Federal Reserve.
14. Monetary Policy and Price Stability.
VI. MICROECONOMIC FOUNDATIONS.
15. Elasticity: Measuring Responsiveness.
16. Consumer Behavior.
17. The Firm and Production.
18. Costs and Profit-Maximizing Output.
VII. OUTPUT MARKETS.
19. Pure Competition.
20. Monopoly and Antitrust.
21. Oligopoly and Monopolistic Competition.
VIII. INPUT MARKETS.
22. Markets for Labor and Other Inputs.
23. Earnings and Income Distribution.
IX. MARKET FAILURE AND GOVERNMENT ACTION.
24. Public Goods, Information, and Regulation.
25. Externalities and Common Property Resources.
26. Public Choice.
X. THE GLOBAL ECONOMY.
27. Into the International Marketplace.
28. PolicyToward Trade.
29. Economic Development.