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O’Sullivan/Sheffrin makes use of Active Learning Tools which get readers involved in role-playing, help them apply concepts, and offer reinforcement of the material.
The books hallmark feature includes a focus on the 5 Key Principles of Economics: 1) Opportunity Cost, 2) The Marginal Principle (comparing marginal benefits and marginal costs), 3) Diminishing Returns, 4) The Spillover Principle (for externalities in production and consumption), and, 5) The Reality Principle (distinguishing real from nominal magnitudes).
For economists, financial analysts and other finance professionals.
Ch 1: Introduction: What is Economics?
Appendix: Using Graphs & Percentages
Ch 2: Key Principles of Economics
Ch 3: Exchange and Markets
Ch 4: Demand, Supply, and Market Equilibrium
Part 2: The Basic Concepts in Macroeconomics
Ch 5: Measuring a Nation’s Production and Income
Ch 6: Unemployment and Inflation
Part 3: The Economy in the Long Run
Ch 7: The Economy at Full Employment
Ch 8: Why Do Economies Grow?
Appendix: A model of Capital Deepening
Part 4: Economic Fluctuations and Fiscal Policy
Ch 9: AD/AS
Ch 10: Fiscal Policy
Ch 11: The Income Expenditure Model
Appendix: Formulas for Equilibrium Income & the Multiplier
Ch 12: Investment and Financial Markets
Part 5: Money, Banking, and Monetary Policy
Ch 13: Money and the Banking System
Appendix: Formula for Deposit Creation
Ch 14: The Federal Reserve and Monetary Policy
Part 6: Inflation, Unemployment, and Economic Policy
Ch 15: Modern Macroeconomics: From the Short Run to the Long Run.
Ch 16: The Dynamics of Inflation and Unemployment
Ch 17: Macroeconomic Policy Debates
Part 7: The International Economy
Ch 18: International Trade and Public Policy
Ch 19: The World of International Finance