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Overview


Written and updated by the author, this Study Guide reinforces student learning with a list of key concepts and terms, review questions and problems, and short-answer exercises asking "what is wrong?" or "what has been overlooked?" Multiple-choice, true/false, and fill-in-the-blank practice questions are also included. The Study Guide has been fully updated to reflect the changes in the core text.
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Product Details

  • ISBN-13: 9780538479394
  • Publisher: Cengage Learning
  • Publication date: 11/4/2010
  • Edition description: New Edition
  • Edition number: 10
  • Pages: 512
  • Product dimensions: 8.50 (w) x 10.80 (h) x 0.90 (d)

Meet the Author


Dr. Roger A. Arnold is Professor of Economics at California State University San Marcos, where his fields of specialization include general microeconomic theory and monetary theory. A widely respected authority on economic issues, Dr. Arnold is a regularly featured expert on talk radio discussing the state of the economy. He is also a proven author, who has written numerous academic articles, hundreds of newspaper columns, as well as the popular ECONOMICS: NEW WAYS OF THINKING and principles of macroeconomics supplementary text, HOW TO THINK LIKE AN ECONOMIST. Dr. Arnold has been a member of the economics faculty at California State University Northridge, University of Oklahoma, Hillsdale College, University of Nevada Las Vegas, and California State University San Marcos. He served as chair of the economics department for two years at University of Nevada Las Vegas and for seven years at California State University San Marcos. He is currently chair of the economics department at California State University San Marcos. During his tenure at UNLV he was regularly one of the top five finalists for the teacher of the year honor (in the College of Business and Economics), and in 1987 he received the best researcher of the year award. Dr. Arnold earned a B.S. in Economics in 1974 from the University of Birmingham in England and received his M.A. in 1976 and his Ph.D. in 1979 from Virginia Polytechnic Institute and State University.
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Table of Contents

Chapter 1 What Economics Is About 1

Chapter 2 Production Possibilities Frontier Framework 11

Chapter 3 Supply and Demand: Theory 19

Chapter 4 Prices: Free, Controlled, and Relative 30

Chapter 5 Supply, Demand and Price: Applications 38

Chapter 6 Macroeconomic Measurements, Part I: Prices and Unemployment 47

Chapter 7 Macroeconomic Measurements, Part II: GDP and Real GDP 56

Chapter 8 Aggregate Demand and Aggregate Supply 67

Chapter 9 Classical Macroeconomics and the Self-Regulating Economy 77

Chapter 10 Keyriesian Macroeconomics and Economic Instability: A Critique of the Self-Regulating Economy 86

Chapter 11 Fiscal Policy and the Federal Budget 96

Chapter 12 Money, Banking and the Financial System 106

Chapter 13 The Federal Reserve System 115

Chapter 14 Money and the Economy 124

Chapter 15 Monetary Policy 135

Chapter 16 Expectations Theory and the Economy 145

Chapter 17 Economic Growth: Resources, Technology, Ideas, and Institutions 156

Chapter 18 The Financial Crisis of 2007-2009 63

Chapter 19 Debates in Macroeconomics Over the Role and Effects of Government 171

Chapter 20 Elasticity 178

Chapter 21 Consumer Choice: Maximizing Utility and Behavioral Economics 187

Chapter 22 Production and Costs 195

Chapter 23 Perfect Competition 208

Chapter 24 Monopoly 219

Chapter 25 Monopolistic Competition, Oligopoly, and Game Theory 227

Chapter 26 Government and Product Markets: Antitrust and Regulation 236

Chapter 27 Factor Markets: "With Emphasis on the Labor Market 245

Chapter 28 Wages, Unions, and Labor 254

Chapter 29 The Distribution of Income and Poverty 262

Chapter 30 Interest, Rent, and Profit 270

Chapter 31 Market Failure: Externalities, Public Goods, and Asymmetric Information 279

Chapter 32 Public Choice and Specia-Interest-Group Politics 288

Chapter 33 The Economic Case For and Against Government: Five Topics Considered 295

Chapter 34 International Trade 301

Chapter 35 International Finance 311

Chapter 36 Globalization and International Impacts on the Economy 321

Chapter 37 Stocks, Bonds, Futures, and Options 332

Chapter 38 Web Chapter Agriculture: Problems, Policies, and Unintended Effects 341

Answer Key 347

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