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This modern, Micro first book has a strong foundation in demand and supply. Its thoughtful coverage of change in demand vs. change in quantity demanded (also in supply coverage) enables readers to better visualize and truly understand the difference between these 2 fundamental concepts.Its hallmark feature includes a focus on the 5 Key Principles of Economics: 1) Opportunity Cost, 2) The Marginal Principle (comparing marginal benefits and marginal costs), 3) Diminishing Returns, 4) The Spillover Principle (for externalities in production and consumption), and, 5) The Reality Principle (distinguishing real from nominal magnitudes).For economists, financial analysts and other finance professionals.
Table of Contents
Introduction and Key Principles
Introduction: What Is Economics?
Key Principles of Economics
Markets and Government in the Global Economy
Supply, Demand, and Market Equilibrium
A Closer Look at Supply and Demand
Elasticity: A Measure of Responsiveness
Market Efficiency and Government Intervention
Market Structures and Pricing
Production and Cost
Perfect Competition: Short Run and Long Run
Entry and Monopolistic Competition
Oligopoly and Strategic Behavior
Using Market Power: Price Discrimination and Advertising
Controlling Market Power: Antitrust Policy and Deregulation
Spillovers and Information
Imperfect Information and Disappearing Markets
Public Goods, Taxes, and Public Choice
The Labor Market and Economic Challenges
The Labor Market
Economic Challenges: Poverty, Aging, and Health Care
The Basic Concepts in Macroeconomics
Measuring a Nation's Production and Income
Unemployment and Inflation
The Economy in the Long Run
Classical Economics: The Economy at Full Employment
Why Do Economies Grow?
Aggregate Demand and Aggregate Supply
Keynesian Economics and Fiscal Policy
Investment and Financial Intermediation
Money, Banking, and Monetary Policy
Money, the Banking System, and the Federal Reserve
Monetary Policy in the Short Run
Inflation, Unemployment, and Economic Policy
From the Short Run to the Long Run
The Dynamics of Inflation and Unemployment
Current Issues in Macroeconomic Policy
The International Economy
International Trade and Public Policy
The World of International Finance
Answers to Odd Numbered Problems and Discussion Questions
Table of Contents provided by Syndetics. All Rights Reserved.