Description
Book SynopsisLearn how to apply economic concepts to today's real world as ECONOMICS: PRIVATE AND PUBLIC CHOICE, 16E reflects current economic conditions. This highly readable, up-to-date text analyzes and explains measures of economic activity in today's market. It also highlights the recession of 2008-2009 and dispels common economic myths. The book uses the "invisible hand" metaphor to explain economic theory, demonstrating how it works to stimulate the economy. This edition even includes online learning solutions, such as Aplia, to improve your learning. Graphing tutorials and videos embedded within the interactive reader support your work and improve your performance.
Table of ContentsPart I: THE ECONOMIC WAY OF THINKING. 1. The Economic Approach. 2. Some Tools of the Economist. Part II: MARKETS AND GOVERNMENT. 3. Demand, Supply, and the Market Process. 4. Supply and Demand: Applications and Extensions. 5. Difficult Cases for the Market, and the Role of Government. 6. The Economics of Political Action. Part III: CORE MACROECONOMICS. 7. Taking the Nation���s Economic Pulse. 8. Economic Fluctuations, Unemployment, and Inflation. 9. An Introduction to Basic Macroeconomic Markets. 10. Dynamic Change, Economic Fluctuations, and the AD--AS Model. 11. Fiscal Policy: The Keynesian View and the Historical Development of Macroeconomics. 12. Fiscal Policy: Incentives, and Secondary Effects. 13. Money and the Banking System. 14. Modern Macroeconomics and Monetary Policy. 15. Stabilization Policy, Output, and Employment. 16. Creating an Environment for Growth and Prosperity. 17. Institutions, Policies, and Cross-Country Differences in Income and Growth. Part IV: INTERNATIONAL ECONOMICS. 18. Gaining from International Trade. 19. International Finance and the Foreign Exchange Market. Part V: CORE MICROECONOMICS. 20. Consumer Choice and Elasticity. 21. Costs and the Supply of Goods. 22. Price Takers and the Competitive Process. 23. Price-Searcher Markets with Low Entry Barriers. 24. Price-Searcher Markets with High Entry Barriers. 25. The Supply of and Demand for Productive Resources. 26. Earnings, Productivity, and the Job Market. 27. Investment, the Capital Market, and the Wealth of Nations. 28. Income Inequality and Poverty. Part VI: APPLYING THE BASICS: SPECIAL TOPICS IN ECONOMICS. Special Topic 1. Government Spending and Taxation. Special Topic 2. The Economics of Social Security. Special Topic 3. The Stock Market: Its Function, Performance, and Potential as an Investment Opportunity. Special Topic 4. Great Debates in Economics: Keynes versus Hayek. Special Topic 5. The Crisis of 2008: Causes and Lessons for the Future. Special Topic 6. Lessons from the Great Depression. Special Topic 7. The Federal Budget and the National Debt. Special Topic 8. The Economics of Health Care. Special Topic 9. Earnings Differences Between Men and Women. Special Topic 10. Do Labor Unions Increase the Wages of Workers? Special Topic 11. The Question of Resource Exhaustion. Special Topic 12. Difficult Environmental Cases and the Role of Government. Appendix A. General Business and Economics Indicators for the United States. Appendix B. Answers to Selected Critical Analysis Questions.
