TY - BOOK AU - Fox,Melanie AU - Dodge,Eric R. TI - Economics demystified SN - 9780071782838 (alk. paper) AV - HB 171.5 F793e 2012 U1 - 330 PY - 2012/// CY - New York PB - McGraw-Hill KW - Economics KW - Study and teaching KW - Economía KW - Estudio y enseñanza N1 - Includes bibliographical references and index; 1. Introduction to economics Scarcity Four economic resources Opportunity cost Rational decision making Marginal analysis Economic models Appendix : math and graph review 2. Utility and consumer choice Principle of diminishing marginal utility Budget constraints Constrained utility maximization Spending the marginal dollar 3. Demand The Law of Demand Demand curves Determinants of demand Price elasticity of demand Cross-price and income elasticities of demand 4. Production and cost The inputs used in production : fixed and variable Short-run production Diminishing marginal product Costs in the short run Increasing marginal cost 5. Supply The marginal cost curve The Law of Supply Supply curves Determinants of supply The price elasticity of supply 6. Market equilibrium Competitive markets Equilibrium Efficiency in competitive markets Price controls Excise taxes 7. 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-run adjustments 8. Monopoly Demand, marginal revenue, and elasticity Profit maximization Deadweight loss Government regulation Price discrimination 9. Imperfect competition: monopolistic competition and oligopoly Game theory 10. Factor markets The choice between labor and leisure Labor supply Labor demand How wages are determined Least-cost hiring 11. Introduction to macroeconomics Model of the economy as a whole : the circular flow diagram Measuring the state of the economy Counting GDP : expenditures approach Counting GDP : income approach GNP versus GDP : what's the difference? 12. Unemployment The labor force Idea of full employment Underemployment and discourage workers 13. Inflation Consumer Price Index Real and nominal dollars Consequences of inflation Deflation versus disinflation Employment and inflation 14. The model of aggregate demand and aggregate supply Real GDP and nominal GDP Model of aggregate demand (AD) and aggregate supply (SRAS and LRAS) 15. Money and the money market Functions and types of money The money supply Fractional reserves The role of the Central Bank The Money Market 16. Fiscal policy and monetary policy The interest rate Keynesian Theory Fiscal policy Monetary policy Applying policy actions to economic fluctuations 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 18. Public goods and the environment Private and public goods Positive externalities Negative externalities Government remedies for externalities How can economics reduce pollution? 19. Health Economics and the market for health insurance Healthcare markets The market for insurance Healthcare policy reform 20. Economic research N2 - Uses illustrations and real-life examples to explain economics concepts and theories, and features review quizzes at the end of each chapter ER -