Principles of Economics by Betsey Stevenson (University of Michigan), and Justin Wolfers (University of Michigan) emphasises that every decision is an economic decision. The authors' focus on useful economics uses compelling explanations and real-life examples to help students develop and apply economic intuition to their everyday decisions. They provide a thoroughly fresh take on a wide range of foundational topics in an engaging presentation that has drawn enthusiastic feedback from both instructors and students.
Principles of Economics by Betsey Stevenson (University of Michigan), and Justin Wolfers (University of Michigan) emphasises that every decision is an economic decision. The authors' focus on useful economics uses compelling explanations and real-life examples to help students develop and apply economic intuition to their everyday decisions. They provide a thoroughly fresh take on a wide range of foundational topics in an engaging presentation that has drawn enthusiastic feedback from both instructors and students.
Preface A Quick Review of Graphs PART I Foundations of Economics Chapter 1 The Four Core Principles of Economics Chapter 2 Demand and Consumer Choice Chapter 3 Supply and Producer Choice Chapter 4 Equilibrium: Where Supply Meets Demand PART II Analyzing Markets Chapter 5 Elasticity: Measuring Responsiveness Chapter 6 Taxes, Price Controls, and Quantity Regulations Chapter 7 Welfare Economics: Evaluating Market Efficiency and Market Failure Chapter 8 Comparative Advantage and Gains from Trade PART III Applications and Policy Issues Chapter 9 International Trade Chapter 10 Externalities and Public Goods Chapter 11 The Labor Market Chapter 12 Why Wages Vary: Workers, Jobs, Institutions, and Discrimination Chapter 13 Inequality, Poverty, and Social Insurance PART IV Industrial Organization and Business Strategy Chapter 14 Market Structure and Market Power Chapter 15 Entry, Exit, and Long-Run Profitability Chapter 16 Price Discrimination and Sophisticated Pricing Strategies Chapter 17 Economics of Strategic Management PART V Advanced Decisions Chapter 18 Game Theory and Strategic Choices Chapter 19 Decisions Involving Uncertainty Chapter 20 Decisions Involving Private Information Part VI Macroeconomic Foundations and the Long Run Chapter 21 Sizing Up the Economy Using GDP Chapter 22 Economic Growth Chapter 23 Unemployment Chapter 24 Inflation and Money Part VII Micro Foundations of Macroeconomics Chapter 25 Consumption and Saving Chapter 26 Investment Chapter 27 The Financial Sector: Banks, Bonds, and Stocks Chapter 28 International Finance and the Exchange Rate Part VIII The Business Cycle Chapter 29 Tracking the Business Cycle Chapter 30 Linking Interest Rates and Output Using IS-MP Analysis Chapter 31 The Phillips Curve and Inflation Chapter 32 The Fed Model: Putting it All Together Chapter 33 Aggregate Demand and Aggregate Supply Part IX Macroeconomic Policy Chapter 34 Monetary Policy Chapter 35 Government Spending, Taxes, and Fiscal Policy Appendix: A Closer Look at Aggregate Expenditure and the Multiplier Glossary Index
Preface A Quick Review of Graphs PART I Foundations of Economics Chapter 1 The Four Core Principles of Economics Chapter 2 Demand and Consumer Choice Chapter 3 Supply and Producer Choice Chapter 4 Equilibrium: Where Supply Meets Demand PART II Analyzing Markets Chapter 5 Elasticity: Measuring Responsiveness Chapter 6 Taxes, Price Controls, and Quantity Regulations Chapter 7 Welfare Economics: Evaluating Market Efficiency and Market Failure Chapter 8 Comparative Advantage and Gains from Trade PART III Applications and Policy Issues Chapter 9 International Trade Chapter 10 Externalities and Public Goods Chapter 11 The Labor Market Chapter 12 Why Wages Vary: Workers, Jobs, Institutions, and Discrimination Chapter 13 Inequality, Poverty, and Social Insurance PART IV Industrial Organization and Business Strategy Chapter 14 Market Structure and Market Power Chapter 15 Entry, Exit, and Long-Run Profitability Chapter 16 Price Discrimination and Sophisticated Pricing Strategies Chapter 17 Economics of Strategic Management PART V Advanced Decisions Chapter 18 Game Theory and Strategic Choices Chapter 19 Decisions Involving Uncertainty Chapter 20 Decisions Involving Private Information Part VI Macroeconomic Foundations and the Long Run Chapter 21 Sizing Up the Economy Using GDP Chapter 22 Economic Growth Chapter 23 Unemployment Chapter 24 Inflation and Money Part VII Micro Foundations of Macroeconomics Chapter 25 Consumption and Saving Chapter 26 Investment Chapter 27 The Financial Sector: Banks, Bonds, and Stocks Chapter 28 International Finance and the Exchange Rate Part VIII The Business Cycle Chapter 29 Tracking the Business Cycle Chapter 30 Linking Interest Rates and Output Using IS-MP Analysis Chapter 31 The Phillips Curve and Inflation Chapter 32 The Fed Model: Putting it All Together Chapter 33 Aggregate Demand and Aggregate Supply Part IX Macroeconomic Policy Chapter 34 Monetary Policy Chapter 35 Government Spending, Taxes, and Fiscal Policy Appendix: A Closer Look at Aggregate Expenditure and the Multiplier Glossary Index
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