EconomicsThe aim of this text is to teach the basics of macro and micro economics. The book emphasizes critical thinking as a key consideration in making economic issues engaging, it gives coverage of supply and demand and international trade and global issues, new coverage of economic growth and learning aids include photographs, graphs, charts, chapter summaries and questions. Core material is contained within the text and non-essential material is placed in the appendices to allow for a more flexible approach to teaching. |
Contents
Thinking Like an Economist | 2 |
Economic Policy Options | 9 |
The Invisible Hand Theory | 15 |
Copyright | |
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adjustment aggregate demand aggregate supply analysis average total cost banks billion bonds capital chapter Classical economists competitive consider consumer contractionary contractionary monetary policy cost curve country's currency debt decisions decrease demand curve determine developing countries discussion dollars economic system effect elasticity example exchange rate Exhibit expectations exports fall financial assets firms fiscal policy goals graph growth important increase individuals inflation inputs institutions interest rate investment invisible hand Keynesian model loans long-run macro policy model macroeconomic marginal cost marginal utility money supply multiplier nominal opportunity cost payments percent perfect competition Phillips curve political potential income potential output price level problems production possibility curve profit quantity demanded quantity supplied real output reason reserves revenue rise sell short-run slope social society spending supply and demand supply curve theory there's tion trade deficit U.S. economy United wage workers