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Issues in Economics Todayis a modern issues book that presents the latest and most interesting topics. Most importantly, this title was developed to allow instructors the maximum flexibility to teach this material in a manner that fits their personal style.Some professors like to intertwine theory and issues while others like to lay the theoretical foundation first before heading into the issues. Faculty may choose to set a theme for their course and pick issues consistent with that theme while others may let their students decide what issues interest them. Beginning with eight core theory chapters and followed by 35 shorter issues chapters, there is no right way to use the book. As a result of this structure, instructors do not have to teach the same course every semester.The Fourth Edition continues to stay on the cusp of recent events and topics, such as outsourcing, inflation targeting, the impact of trade agreements, the cost of adhering to the Kyoto protocols, induced demand in pharmaceuticals, myths surrounding affirmative action, the impact of gasoline prices on ethanol and corn demand, Apple's troubles with the EU, textbook price inflation relative to tuition costs, poverty in the US vs. other developed countries, and a recasting of the War chapter to focus more heavily on occupation costs.
Table of Contents
Economics: The Study of Opportunity Cost 1A Graphing: Yes, You Can
Supply and Demand
The Concept of Elasticity and Consumer and Producer Surplus
Firm Production, Cost, and Revenue
Perfect Competition, Monopoly, and Economic versus Normal Profit
Every Macroeconomic Word You Ever Heard: Gross Domestic Product, Inflation, Unemployment, Recession, and Depression
Interest Rates and Present Value
Aggregate Demand and Aggregate Supply
Federal Deficits, Surpluses, and the National Debt
International Trade: Does It Jeopardize American Jobs?
The International Monetary Fund: Doctor or Witch Doctor?
NAFTA, GATT, WTO: Are Trade Agreements Good for Us?
Tobacco, Alcohol, Drugs, and Prostitution
Government Provided Health Insurance: Medicaid, Medicare, and the Child Health Insurance Program
The Economics of Prescription Drugs
Economics and the Law
The Economics of Crime
Race, Gender, and Affirmative Action
Ticket Brokers and Ticket Scalping
Why Did This Textbook Cost so Much?
Poverty and Welfare
Personal Income Taxes
If We Build It, Will They Come? And Other Sports Questions