Economics is a subject youlearn by doing.Essential Foundations of Economicsbreaks 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 touseeconomics 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-ADand the Business Cycle; Fiscal Policy and Monetary Policy. For all readers interested in economics.