To help readers focus on the most important concepts—and effectively practice application of those concepts—Foundations of Economics is structured around a Checklist/Checkpoint system. The result is a patient, confidence-building textbook that prepares readers to use economics in their everyday life, regardless of what their future career will be.
Table of Contents
Chapter 1. Getting Started
Chapter 2. The U.S. and Global Economies
Chapter 3. The Economic Problem
Chapter 4. Demand and Supply
PART 2: A CLOSER LOOK AT MARKETS
Chapter 5. Elasticities of Demand and Supply
Chapter 6. Efficiency and Fairness of Markets
PART 3: HOW GOVERNMENTS INFLUENCE THE ECONOMY
Chapter 7. Government Actions in Markets
Chapter 8. Taxes
Chapter 9. Global Markets in Action
PART 4: MARKET FAILURE AND ITS SOLUTIONS
Chapter 10. Externalities
Chapter 11. Public Goods and Common Resources
Chapter 12. Markets with Private Information
PART 5: A CLOSER LOOK AT DECISION MAKERS
Chapter 13. Consumer Choice and Demand
Chapter 14. Production and Cost
PART 6: PRICES, PROFITS, AND INDUSTRY PERFORMANCE
Chapter 15. Perfect Competition
Chapter 16. Monopoly
Chapter 17. Monopolistic Competition
Chapter 18. Oligopoly
PART 7: INCOMES AND INEQUALITY
Chapter 19. Markets for Factors of Production
Chapter 20. Economic Inequality
PART 8: MONITORING THE MACROECONOMY
Chapter 21. GDP: A Measure of Total Production and Income
Chapter 22. Jobs and Unemployment
Chapter 23. The CPI and the Cost of Living
PART 9: THE REAL ECONOMY
Chapter 24. Potential GDP and the Natural Unemployment Rate
Chapter 25. Economic Growth
Chapter 26. Finance, Saving, and Investment
PART 10: THE MONEY ECONOMY
Chapter 27. The Monetary System
Chapter 28. Money, Interest, and Inflation
PART 11: ECONOMIC FLUCTUATIONS
Chapter 29. Aggregate Supply and Aggregate Demand
Chapter 30. Aggregate Expenditure Multiplier
Chapter 31. The Short-Run Policy Tradeoff
PART 12: MACROECONOMIC POLICY
Chapter 32. Fiscal Policy
Chapter 33. Monetary Policy
Chapter 34. International Finance
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