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Economics for Today's World

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Table of Contents

Part I: INTRODUCTION TO ECONOMICS. 1. Introducing the Economic Way of Thinking. Appendix: Applying Graphs to Economics. 2. Production Possibilities, Opportunity Cost, and Economic Growth. Part II: MICROECONOMIC FUNDAMENTALS. 3. Market Supply and Demand. Appendix: Consumer Surplus, Producer Surplus, and Market Efficiency. 4. Markets in Action. Appendix: Applying Supply and Demand Analysis to Health Care. 5. Price Elasticity of Demand and Supply. 6. Consumer Choice Theory. Appendix: Indifference Curve Analysis. 7. Production Costs. Part III: MARKET STRUCTURES. 8. Perfect Competition. 9. Monopoly. 10. Monopolistic Competition and Oligopoly. 11. Labor Markets. Part IV: MICROECONOMIC POLICY ISSUES. 12. Income Distribution, Poverty, and Discrimination. 13. Antitrust and Regulation. 14. Environmental Economics. Part V: MACROECONOMIC FUNDAMENTALS. 15. Gross Domestic Product. Appendix: A Four-Sector Circular Flow Model. 16. Business Cycles and Unemployment. 17. Inflation. Part VI: MACROECONOMIC THEORY AND POLICY. 18. The Keynesian Model. 19. The Keynesian Model in Action. 20. Aggregate Demand and Supply. Appendix: The Self-Correcting Aggregate Demand and Supply Model. 21. Fiscal Policy. 22. The Public Sector. 23. Federal Deficits, Surpluses, and the National Debt. Part VII: MONEY, BANKING, AND MONETARY POLICY. 24. Money and the Federal Reserve System. 25. Money Creation. 26. Monetary Policy. Appendix: Policy Disputes Using the Self-Correcting Aggregate Demand and Supply Model. 27. The Phillips Curve and Expectations Theory. Part VIII: THE INTERNATIONAL ECONOMY. 28. International Trade and Finance. 29. Economies in Transition. 30. Growth and the Less-Developed Countries. Appendix A. Answers to Odd-Numbered Study Questions and Problems. Appendix B. Answers to Practice Quizzes. Glossary. Index.

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