Hubbard/O'Brien explains the basics of economics by demonstrating how real businesses use economics to make real decisions everyday. This is something all readers can connect to, as they encounter businesses in their daily lives. And regardless of future career path—opening an art studio, doing social work, trading on Wall Street, working for the government, or bartending at the local pub—readers will benefit from understanding the economic forces behind their work.
Table of Contents
PART 1: INTRODUCTION
Chapter 1: Economics: Foundations and Models
Appendix: Using Graphs and Formulas
Chapter 2: Trade-offs, Comparative Advantage, and the Market System
Chapter 3: Where Prices Come From: The Interaction of Demand and Supply
PART 2: MARKETS IN ACTION: POLICY AND APPLICATIONS
Chapter 4: Market Efficiency and Market Failure
Chapter 5: The Economics of Healthcare
PART 3: MICROECONOMIC FOUNDATIONS: CONSUMERS AND FIRMS
Chapter 6: Firms, the Stock Market, and Corporate Governance
Chapter 7: Consumer Choice and Elasticity
Chapter 8: Technology, Production, and Costs
PART 4: MARKET STRUCTURE AND FIRM STRATEGY
Chapter 9: Firms in Perfectly Competitive Markets
Chapter 10: Monopoly and Antitrust
Chapter 11: Monopolistic Competition and Oligopoly
PART 5: MACROECONOMIC FOUNDATIONS
Chapter 12: GDP: Measuring Total Production and Income
Chapter 13: Unemployment and Inflation
PART 6: LONG-RUN AND SHORT-RUN FLUCTUATIONS
Chapter 14: Economic Growth, the Financial System and Business Cycles
Chapter 15: Aggregate Demand and Aggregate Supply Analysis
Appendix: Schools of Macro Thought
PART 7: MONETARY AND FISCAL POLICY
Chapter 16: Money, Banks, and the Federal Reserve System
Chapter 17: Monetary Policy
Chapter 18: Fiscal Policy
Chapter 19: Comparative Advantage, International Trade, and Exchange Rates
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