Book description
Economics plays a part in so many news topics-- both domestically and worldwide-- and the need to know the basics is becoming more and more important. Ideal for both the high school and college student, as well as armchair readers, Idiot's Guides: Economics offers an easy-to-understand exploration of this always-complex topic. Covering both microeconomics and macroeconomics, the book incorporates infographics and illustrations where appropriate to make concepts clear and easy to understand. Economics topics include:
- Benefits of Trade
- Supply and Demand
- Elasticity
- Government Intervention in Markets
- Market Efficiency
- Taxes and the Market
- International Trade
- Externalities
- Public Goods and Common Resources
- The Basics of the Tax System
- The Costs of Production
- Perfect Competition
- Monopoly
- Tracking the Economy
- Unemployment and Inflation
- Long-Run Economic Growth
- Savings, Investment Spending, and the Financial System
- Short-Run Economic Fluctuations
- Income and Expenditure
- Aggregate Demand and Aggregate Supply
- Stabilization Policy
- Fiscal Policy
- Money, Banking, and the Federal Reserve System
- Monetary Policy
- Inflation, Disinflation, and Deflation
In addition, such issues as global climate change. the environment, natural disaster recovery, and the social safety net are covered from an economic policy perspective.
Table of contents
- Cover
- Title Page
- Copyright Page
- Introduction
-
Part 1: Understanding the Economic World We Live In
- 1 An Overview of Our Economic Society
- 2 Introducing the Market Economy
- 3 Comparative Advantage and Gains from Trade
- 4 How Economists Gauge the Economy
- 5 Public Policy and Microeconomics
- 6 An Introduction to “Econospeak”
-
Part 2: Microeconomics: Business and the Consumer
- 7 Supply and Demand
- 8 Consumer and Producer Surplus
- 9 How Consumers Make Choices
- 10 The Firm: Maximizing Profit
-
Part 3: Microeconomics: Market Structure
- 11 Perfect Competition
- 12 Monopoly
- 13 Oligopolies
- 14 Monopolistic Competition
-
Part 4: Macroeconomics
- 15 Keeping Track of Growth: The National Accounts
- 16 Unemployment and Inflation
- 17 Inflation and Deflation
- 18 The Business Cycle
- 19 Recessions and Depressions
- 20 Money
-
21 The Central Banks and Macroeconomic Policy
- Origins of Central Banks
- The Great Depression
-
Functions of the Central Banks
- An Independent Central Bank
- Maintaining Macroeconomic Stability
- Maintaining Financial Stability: Lender of Last Resort
- Maintaining Financial Stability: Regulation of the Banking Industry
- The Response by Central Banks to the 2008 Financial Crisis
- The Mandate to Foster Maximum Employment (United States)
- 22 Using Government Fiscal Policy to Influence the Economy
- Appendixes
- Index
- About the Author
Product information
- Title: Economics
- Author(s):
- Release date: July 2014
- Publisher(s): DK Publishing
- ISBN: 9781615645275
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