xiv, 402 p. : ill. ; 23 cm.
Includes bibliographical references and index.
Ch.1 Introduction to economics
Scarcity -- Four economic resources -- Opportunity cost -- Rational decision making -- Marginal analysis -- Economic models -- Appendix: Math and graph review
Ch.2 Utility and consumer choice
Utility functions and preferences -- Principle of diminishing marginal utility -- Budget constraints -- Constrained utility maximization -- Spending the marginal dollar
The law of demand -- Demand curves -- Determinants d demand -- Price elasticity demand -- Cross-Price and income elasticities of demand
Ch.4 Production and cost
The inputs used in production - fixed and variable -- The short run and the long run -- Short-run production -- Diminishing marginal product -- Costs in the short run -- Increasing marginal cost
The marginal cost curve -- The law of supply -- Supply curves -- Determinants of supply -- The price elasticity of supply
Ch.6 Market equililbrium
Competitive markets -- Equilibrium -- Efficiency in competitive markets -- Price controls -- Excise taxes
Ch.7 Perfect competition
Key assumptions of perfect competition -- Revenue and costs -- Profit maximization, mathematically -- Accounting profit and economic profit -- Profit maximization, graphically -- Economic profit and loss in the short run -- Long-rum adjustments -- Efficiency
Key assumptions -- Demand, marginal revenue, and elasticity -- Profit mazimization -- Deadweight loss -- Government regulation -- Price discrimination -- Appendix
Ch.9 Imperfect competition: Monopolistic competition and oligopoly
Key assumptions of monopolistic competition -- Short-rum equilibrium in monopolisitc competition -- Long-run equilibrium in monopolistic competition -- Oligopoly -- Key assumptions of oligopoly -- Game theory
Ch.10 Factor markets
The choice between labor and leisure -- An individual's labor supply -- Labor demand -- How wages are determined -- Least-cost hiring of two inputs
Ch.11 Introduction to marcroeconomics
A model of the economy as a whole: The circular flow diagram -- Measuring the state of the economy -- Counting GDP: The expenditures approach -- Counting GDP: The income approach -- GNP versus GDP - What's the difference?
What is unemployment? -- The labor force -- Measuring unemployment -- Two types of unemployment -- The idea of full employment -- Underemployment and discouraged workers -- Theories of unemployment
Introduction to inflation -- The consumer price index -- Real and nominal dollars -- The consequences of inflation -- Deflation versus disinflation -- Employment and inflation
Ch.14 The model of aggregate demand and aggregate supply
Real GDP and nominal GDP -- Understanding the model of aggregate demand and aggregate supply -- Aggregate demand (AD) -- Aggregate supply (SRAS and LRAS) -- Equilibrium in the macroeconomy -- Economic growth
Ch.15 Money and the money market
The functions and types of money -- The money supply -- Fractional reserves -- The role of a central bank -- The money market
Ch.16 Fiscal policy and monetary policy
The interest rate -- The classical theory of economics -- Keynesian theory -- Fiscal policy -- Difficulties with fiscal policy -- Monetary policy -- Problems with fiscal and monetary policy -- Applying policy actions to economic fluctuations
Ch.17 The global economy
Production possibilities -- Comparative advantage and gains from trade -- Foreign exchange markets -- Currency appreciation and depreciation -- How do exchange rates affect aggregate demand? -- Balance of payments -- Foreign currency and economic policy -- Trade barriers
Ch.18 Public goods and the environment
Private and public goods -- Providing public goods -- Positive externalities -- Negative externalities -- Government remedies for externalities -- How can economics reduce pollution?
Ch.19 Health economics and the market for health insurance
Introduction to health economics -- Healthcare markets -- The market for insurance -- Healthcare policy reform
Ch.20 Economic research
Introduction to research in economics -- The research process
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20.00 SOC SCI (99-SSC-9)
Dodge, Eric R.