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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.
Table of Contents
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
Markets in Action
Global Markets in Action
Prices, Profits, and Industry Performance
Production and Cost
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
The Monetary System
AS-AD and the Business Cycle
Fiscal Policy and Monetary Policy
Table of Contents provided by Publisher. All Rights Reserved.