Principles of Economics

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This book is intended for a two-semester course in Economics taught out of the social sciences or business school. Principles of Economics aims to teach considerable range and depth of Economic concepts through an approachable style and methodology. The authors take a three-pronged approach to every chapter: The concept is covered with a “Heads Up” to ward off confusion, a real-world application for that concept, and a “You Try It” section to make sure students are staying on top of the concept.

Description from LibreTexts.

Publisher
LibreTexts
Subjects
Social Sciences, Economics
Licence
CC BY-NC-SA 3.0, as LibreTexts states it. Non-commercial use only.
Who can read
Teens profiles and older, judged from its title and subjects

Contents

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  1. Front Matter
  2. TitlePage
  3. InfoPage
  4. Table of Contents
  5. Licensing
  6. 1: Economics - The Study of Choice
  7. 1.1: Defining Economics
  8. 1.2: The Field of Economics
  9. 1.3: The Economists’ Tool Kit
  10. 1.4: Review and Practice
  11. 2: Confronting Scarcity: Choices in Production
  12. 2.1: Factors of Production
  13. 2.2: The Production Possibilities Curve
  14. 2.3: Applications of the Production Possibilities Model
  15. 2.4: Review and Practice
  16. 3: Demand and Supply
  17. 3.1: Demand
  18. 3.2: Supply
  19. 3.3: Demand, Supply, and Equilibrium
  20. 3.4: Review and Practice
  21. 4: Applications of Demand and Supply
  22. 4.1: Putting Demand and Supply to Work
  23. 4.2: Government Intervention in Market Prices - Price Floors and Price Ceilings
  24. 4.3: The Market for Health-Care Services
  25. 4.4: Review and Practice
  26. 5: Elasticity: A Measure of Response
  27. 5.1: The Price Elasticity of Demand
  28. 5.2: Responsiveness of Demand to Other Factors
  29. 5.3: Price Elasticity of Supply
  30. 5.4: Review and Practice
  31. 6: Markets, Maximizers, and Efficiency
  32. 6.1: The Logic of Maximizing Behavior
  33. 6.2: Maximizing in the Marketplace
  34. 6.3: Market Failure
  35. 6.4: Review And Practice
  36. 7: The Analysis of Consumer Choice
  37. 7.1: The Concept of Utility
  38. 7.2: Utility Maximization and Demand
  39. 7.3: Indifference Curve Analysis: An Alternative Approach to Understanding Consumer Choice
  40. 7.4: Review and Practice
  41. 8: Production and Cost
  42. 8.1: Production Choices and Costs: The Short Run
  43. 8.2: Production Choices and Costs: The Long Run
  44. 8.3: Review and Practice
  45. 9: Competitive Markets for Goods and Services
  46. 9.1: Perfect Competition: A Model
  47. 9.2: Output Determination in the Short Run
  48. 9.3: Perfect Competition in the Long Run
  49. 9.4: Review and Practice
  50. 10: Monopoly
  51. 10.1: The Nature of Monopoly
  52. 10.2: The Monopoly Model
  53. 10.3: Assessing Monopoly
  54. 10.4: Review and Practice
  55. 11: The World of Imperfect Competition
  56. 11.1: Monopolistic Competition: Competition Among Many
  57. 11.2: Oligopoly: Competition Among the Few
  58. 11.3: Extensions of Imperfect Competition: Advertising and Price Discrimination
  59. 11.4: Review and Practice
  60. 12: Wages and Employment in Perfect Competition
  61. 12.1: The Demand for Labor
  62. 12.2: The Supply of Labor
  63. 12.3: Labor Markets at Work
  64. 12.4: Review and Practice
  65. 13: Interest Rates and the Markets for Capital and Natural Resources
  66. 13.1: Time and Interest Rates
  67. 13.2: Interest Rates and Capital
  68. 13.3: Natural Resources and Conservation
  69. 13.4: Review and Practice
  70. 14: Imperfectly Competitive Markets for Factors of Production
  71. 14.1: Price-Setting Buyers: The Case of Monopsony
  72. 14.2: Monopsony and the Minimum Wage
  73. 14.3: Price Setters on the Supply Side
  74. 14.4: Review and Practice
  75. 15: Public Finance and Public Choice
  76. 15.1: The Role of Government in a Market Economy
  77. 15.2: Financing Government
  78. 15.3: Choices in the Public Sector
  79. 15.4: Review and Practice
  80. 16: Antitrust Policy and Business Regulation
  81. 16.1: Antitrust Laws and Their Interpretation
  82. 16.2: Antitrust and Competitiveness in a Global Economy
  83. 16.3: Regulation: Protecting People from the Market
  84. 16.4: Review and Practice
  85. 17: International Table
  86. 17.1: The Gains from Trade
  87. 17.2: Two-Way Trade
  88. 17.3: Restrictions on International Trade
  89. 17.4: Review and Practice
  90. 18: The Economics of the Environment
  91. 18.1: Maximizing the Net Benefits of Pollution
  92. 18.2: Alternatives in Pollution Control
  93. 18.3: Review and Practice
  94. 19: Inequality, Poverty, and Discrimination
  95. 19.1: Income Inequality
  96. 19.2: The Economics of Poverty
  97. 19.3: The Economics of Discrimination
  98. 19.4: Review and Practice
  99. 20: Macroeconomics: The Big Picture
  100. 20.1: Growth of Real GDP and Business Cycles
  101. 20.2: Price-Level Changes
  102. 20.3: Unemployment
  103. 20.4: Review and Practice
  104. 21: Measuring Total Output and Income
  105. 21.1: Measuring Total Output
  106. 21.2: Measuring Total Income
  107. 21.3: GDP and Economic Well-Being
  108. 21.4: Review and Practice
  109. 22: Aggregate Demand and Aggregate Supply
  110. 22.1: Aggregate Demand
  111. 22.2: Aggregate Demand and Aggregate Supply: The Long Run and the Short Run
  112. 22.3: Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium
  113. 22.4: Review and Practice
  114. 23: Economic Growth
  115. 23.1: The Significance of Economic Growth
  116. 23.2: Growth and the Long-Run Aggregate Supply Curve
  117. 23.3: Determinants of Economic Growth
  118. 23.4: Review and Practice
  119. 24: The Nature and Creation of Money
  120. 24.1: What Is Money?
  121. 24.2: The Banking System and Money Creation
  122. 24.3: The Federal Reserve System
  123. 24.4: Review and Practice
  124. 25: Financial Markets and the Economy
  125. 25.1: The Bond and Foreign Exchange Markets
  126. 25.2: Demand, Supply, and Equilibrium in the Money Market
  127. 25.3: Review and Practice
  128. 26: Monetary Policy and the Fed
  129. 26.1: Monetary Policy in the United States
  130. 26.2: Problems and Controversies of Monetary Policy
  131. 26.3: Monetary Policy and the Equation of Exchange
  132. 26.4: Review and Practice
  133. 27: Government and Fiscal Policy
  134. 27.1: Government and the Economy
  135. 27.2: The Use of Fiscal Policy to Stabilize the Economy
  136. 27.3: Issues in Fiscal Policy
  137. 27.4: Review and Practice
  138. 28: Consumption and the Aggregate Expenditures Model
  139. 28.1: Determining the Level of Consumption
  140. 28.2: The Aggregate Expenditures Model
  141. 28.3: Aggregate Expenditures and Aggregate Demand
  142. 28.4: Review and Practice
  143. 29: Investment and Economic Activity
  144. 29.1: The Role and Nature of Investment
  145. 29.2: Determinants of Investment
  146. 29.3: Investment and the Economy
  147. 29.4: Review and Practice
  148. 30: Net Exports and International Finance
  149. 30.1: The International Sector: An Introduction
  150. 30.2: International Finance
  151. 30.3: Exchange Rate Systems
  152. 30.4: Review and Practice
  153. 31: Inflation and Unemployment
  154. 31.1: Relating Inflation and Unemployment
  155. 31.2: Explaining Inflation–Unemployment Relationships
  156. 31.3: Inflation and Unemployment in the Long Run
  157. 31.4: Review and Practice
  158. 32: A Brief History of Macroeconomic Thought and Policy
  159. 32.1: The Great Depression and Keynesian Economics
  160. 32.2: Keynesian Economics in the 1960s and 1970s
  161. 32.3: 32.3:. An Emerging Consensus: Macroeconomics for the Twenty-First Century
  162. 32.4: Review and Practice
  163. 33: Economic Development
  164. 33.1: The Nature and Challenge of Economic Development
  165. 33.2: Population Growth and Economic Development
  166. 33.3: Keys to Economic Development
  167. 33.4: Review and Practice
  168. 34: Socialist Economies in Transition
  169. 34.1: The Theory and Practice of Socialism
  170. 34.2: Socialist Systems in Action
  171. 34.3: Economies in Transition: China and Russia
  172. 34.4: Review and Practice
  173. Back Matter
  174. Index
  175. Glossary
  176. Detailed Licensing