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The Economic Way of Thinking

ISBN: 9780136039853 | 0136039855
Edition: 12th
Format: Paperback
Publisher: Prentice Hall
Pub. Date: 1/7/2009

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SummaryTable of Contents
For one semester survey courses in general economicsTeach your students how to think like economists.The Economic Way of Thinking goes beyond explaining the basic principles of micro- and macroeconomic analysis by showing students a method of reasoning that teaches them how to apply these principles as tools. The authors expose students to a method of reasoning that makes them think like an economist through example and application and also shows them how not to think, by exposing errors in popular economic reasoning.The latest edition has been... MORE
Prefacep. xi
About the Authorsp. xvii
The Economic Way of Thinkingp. 3
Questions for Discussionp. 17
Efficiency, Exchange, and Comparative Advantagep. 21
An Appendix: Economic Growth: Specialization, Exchange, and The Rule of Lawp. 35
Questions for Discussionp. 40
Substitutes Everywhere: The Concept of Demandp. 45
Questions f... MOREp. 67
Cost and Choice: The Concept of Supplyp. 75
Questions for Discussionp. 93
Supply and Demand: A Process of Coordinationp. 99
An Appendix: Coordination Problems: Transaction Costsp. 109
Questions for Discussionp. 115
Unintended Consequences: More Applications of Supply and Demandp. 119
An Appendix: Framing Economic Questions Correctlyp. 139
Questions for Discussionp. 144
Profit and Lossp. 153
An Appendix: Profiteering in Futures Marketsp. 167
Questions for Discussionp. 174
Price Searchingp. 183
Questions for Discussionp. 197
Competition and Government Policyp. 205
Questions for Discussionp. 223
Externalities and Conflicting Rightsp. 229
Questions for Discussionp. 245
Markets and Governmentp. 255
Questions for Discussionp. 276
Measuring the Overall Performance of Economic Systemsp. 283
An Appendix: Limitations of National Income Accountingp. 303
Questions for Discussionp. 308
The Wealth of Nations: Globalization and Economic Growthp. 313
An Appendix: The Difficulties of International GDP Comparisonsp. 334
Questions for Discussionp. 337
Moneyp. 341
An Appendix: What About Gold?p. 355
Questions for Discussionp. 357
Economic Performance and Real-World Politicsp. 363
Questions for Discussionp. 386
Renewal of the Debate: Some Parting Thoughtsp. 395
Glossaryp. 407
Indexp. 415
Table of Contents provided by Ingram. All Rights Reserved.

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