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Economics by Example

by: Anderson, David A.

Economics by Example

by: Anderson, David A.

ISBN 13:
9780716769347
ISBN 10:
0716769344
Format: Paperback
Copyright: 11/03/2006
Publisher: Worth Publishers

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Summary

Lively, surprising, yet filled with solid economic content,Economics by Exampleis for students who want to understand why they should study economics while in the process of learning it. This concise paperback introduces economic principles in the context of real-life applications, with much to say about how the economic way of thinking can improve students' decisions. Economics by Examplewas created to support traditional texts but it can also be used on its own, in courses requiring minimal mathematics or graphical analysis.

Introduction	p. 1
What's to Love about Economics? Virtues of the Economic Way of Thinking	p. 1
Why Did the Cashier Let Biff Henderson Eat All the Free Mints? An Introduction to the Power of Incentives	p. 9
Supply and Demand	p. 17
The Coffee Market's Hot; Why Are Bean Prices Not? Insights into Supply and Demand	p. 17
Why Was the Great Newspaper Heist So Easy? Diminishing Marginal Utility and the Price Elasticity of Demand	p. 26
Markets and Decisions	p. 33
How Can Economics Influence Your Choice of a Spouse? Supply, Demand, and Price Signals in the Marriage Market	p. 33
Is Adam Smith Rolling over in His Grave? Perfect Competition, Efficiency, and the Father of Modern Economics	p. 40
Production	p. 49
Why Are There More Members of a Band Than Professors in a Class? Diminishing Marginal Returns and the Demand for Labor	p. 49
Could the Future Cost of Energy Change Life as We Know It? Production Costs and the Inescapable Demand for Energy	p. 55
Consumer Choice	p. 63
Why Is Cash the Ultimate Gift? Optimal Consumption, Deadweight Loss, and the Virtues of Flexible Spending	p. 63
Why Should We Pay for What We Throw Away? Incentives for Efficiency from Pay-Per-Unit Pricing	p. 70
Efficiency	p. 75
Why Not Split the Check? A Briefing on Market Failure	p. 75
How Gullible Are We? Information Problems and Their Applications to Schools of Economic Thought	p. 83
Market Power	p. 91
What's Behind the Music Industry's Woes? The Sound of Market Power	p. 91
Wal-Mart: Friend or Foe? Economies of Scale, Low Prices, Low Wages, and Thinking outside the Box	p. 98
Risk, Uncertainty, and the Market	p. 105
What Is the Value of Human Life? Reasons and Methods for Placing Finite Values on Unidentified Human Lives	p. 105
Do Potential Criminals Contemplate Their Fates? Making Incentives Matter in the Face of Risk and Uncertainty	p. 111
Public Policy	p. 119
Should Damage Awards in Lawsuits Be Capped? Benefits and Costs of Limiting the Burden of Litigation	p. 119
What's to Love about Taxes? Free Riding on Public Goods, Deadweight Loss, and the Lesser of Two Evils	p. 126
Technology and Innovation	p. 133
Will Technology Put Us All Out of Work? Unemployment, Creative Destruction, and Quality of Life	p. 133
Do Pharmaceutical Patents Cost Lives or Save Them? Balancing Incentives for Innovation with Prices More Disease Victims Can Afford	p. 140
The Macroeconomy	p. 149
Why Do We Neglect Leisure and Cheer for Divorce? The Divergence of Gross Domestic Product and Measures of Well-Being	p. 149
Does the Money Supply Matter? Money, the Fed, and the Debate over Optimal Monetary Policy	p. 157
Growth and Employment	p. 167
What's to Like about Outsourcing? The Influence of International Labor Markets	p. 167
Do Tree Huggers Deter Growth and Employment? Myths, Labor Markets, and Environmentalism	p. 173
Macroeconomic Policy	p. 181
How Much Debt Is Too Much? Expenditure Smoothing, Ricardian Equivalence, Crowding Out, and Investments for the Future	p. 181
What Is the Role of Government? Political-Economic Systems, Snags in Private Solutions, and Remedies with a Role for Government	p. 189
International Economics	p. 199
Is Globalization a Bad Word? Comparative Advantage, Culture Clashes, and Organizations Meant to Make the Most of Global Markets	p. 199
Why Are Some Nations Rich and Others Poor? Growth Models, Miracles, and the Determinants of Economic Development	p. 208
Global Issues	p. 217
Pollution: How Might Economics Help Save the Planet? Cap-and-Trade Programs as a Market Solution to Problems Large and Small	p. 217
Immigration: How Welcoming Should Lady Liberty Be? The Costs and Benefits of Relatively Open Borders	p. 224
Glossary	p. 233
Index	p. 243
Table of Contents provided by Ingram. All Rights Reserved.

Amazon no longer offers textbook rentals. We do!

Economics by Example

Economics by Example

9780716769347

0716769344

Summary

Table of Contents

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