From first economic principles to the financial crisis
The Rough Guide to Economics takes you through the financial crisis of 2007 and 2008 and its resulting global problems and explores economics right from its foundations to the present day.
Issues caused by the recent financial crisis continue to dominate news across the world and if you want to gain a clear understanding of how economics are central to your world, the Rough Guide to Economics is the ideal no-nonsense guide for you. It explains everything you need to know about monetary policy, inflation, international trade and all the major topics within economics. With the election not too far off it also provides clear-cut information on government tax and spending decisions. You'll discover how economics can illuminate topics as diverse as globalization and development, climate change, and poverty. You'll even be able to see the relevance of economics to topics closer to home such as friendship, smoking and K-pop, and how findings from psychology have influenced economic thinking.
Whether you want to learn about economics for work or studies, need a handy reference, or want a clear understanding of the effect of economics on your world, the Rough Guide to Economics is the book for you, with no knowledge of mathematics required.
About the Author
Rough Guides are written by expert authors who are passionate about both writing and travel. They have detailed knowledge of the areas they write about—having either traveled extensively or lived there—and their expertise shines through on every page. It's priceless information, delivered with wit and insight, providing the down-to-earth, honest read that is the hallmark of Rough Guides.
Table of Contents
Part 1 The basics
1 What is economics? 3
2 The economic mindset: homo economicus vs. behavioural economics 17
Part 2 Markets and competition-the invisible hand
3 Demand 47
4 Production and supply 63
5 Markets, equilibrium, and the welfare theorems 86
Part 3 Market and government failure
6 Externalities and public goods 103
7 Monopoly 123
Part 4 Further topics in microeconomics
8 Game theory and oligopoly 139
9 Information and contracting 161
10 The economics of finance 175
Part 5 Macroeconomics-"the economy"
11 Basics of national income accounting 189
12 Economic growth 205
13 The classical model 220
14 The Great Depression and Keynes 236
15 The Phillips curve, Friedman, and monetarism 257
16 Open-economy macroeconomics 275
Part 6 Hot topics
17 Globalization and international trade 291
18 Development economics 309
19 The financial crisis of 2007-8 322
Part 7 Resources
Picture credits 362