Study of Economics Principles, Concepts & Applications

Unit I FOUNDATIONS Chapter 1 Economic Methods An Apple a Day What Is Economics? Scarcity The Scientific Method Economic Reasoning Who Needs Rain Forests? What Are the Tools of Economics? Factual Tools Theoretical Tools Something in the Air What Are the Uses of Graphs? Descriptive Charts Analytical Diagrams CC:The Energy Gluttons Putting It Together Perspective: The Master Tool Builder For Further Study and Analysis Appendix: Constructing and Reading Diagrams Chapter 2 Economic Choices Steeling Away What Are the Consequences of Economic Choices? Trade-Offs Opportunity Costs Production Possibilities Frontier Increasing Costs Tough Choices What Are the Basic Economic Questions? What to Produce? How to Produce? For Whom to Produce? To Nuclear or Not to Nuclear? What Are Society's Economic Goals? Growth Efficiency Price Stability Socioeconomic Goals The Computer Craze Putting It Together Perspective: The Affluent Society For Further Study and Analysis Chapter 3 The Economic System That Old-Time Rock and Roll Why Are Economic Systems Needed? Specialization Absolute and Comparative Advantage Interdependence The Efficiencyburger What Are the Principal Types of Economic Systems? Market Economies Centrally Directed Economies Traditional Economies Mixed Economies CC: Islamic Economics How Does a Market System Resolve the Three Basic Economic Questions? Markets Incentives Product and Factor Markets Circular Flow of the Economy Market System Resolution vs. Alternatives The Burger Wars Putting It Together Perspective: The Industrial Revolution For Further Study and Analysis Chapter 4 Market Pricing The Peanut Butter Crunch What Forces Determine Prices in the Marketplace? Demand (The Consumers' Side of the Market) Supply (The Sellers' Side of the Market) Equilibrium Price-Gouging What Determines Demand? Tastes and Preferences Income Substitutes and Complements Population Pedal Power What Determines Supply? Prices and Resources Technology Short Run Long Run Jojoba: A Desert Weed Why Do Prices Change? Shifts in Demand Shifts in Supply CC: Oiled and Ready Putting It Together Perspective: Adam Smith's Marketplace For Further Study and Analysis Unit II MICROECONOMICS Chapter 5 Earning and Spending:The Consumer Blowing Smoke Rings What Determines Income? Functional Income Distribution Wage and Salaries Rent Interest Profits Five Strikes and You're Out What Choices Do Consumers Make? Spending Choices Consumer Sovereignty Savings Choices The Channel Race How Can Consumers Make Better Choices? Information Advertising CC: International Property Rights Putting It Together Perspective: Conspicuous Consumption For Further Study and Analysis Chapter 6 The Business Firm and Market Structure Farm Aid What Are the Forms and Economic Functions of Business Firms? Forms of Business Organization The Four Functions of Business Aging Rockers What Determines a Firm's Profits? Costs Revenue Profits Running with the Bulls How Does Industry Market Structure Affect Price and Output Decisions? Pure Competition Differentiated Competition Pure Monopoly Shared Monopoly Crashing the PC Market Putting It Together Perspective: The Evolution of the Modern Corporation For Further Study and Analysis Chapter 7 Industrial Performance The Industrial Phoenix What Determines Industry Performance? Productivity Quality Responsiveness to the Market Responsiveness to Social Concerns CC: Eyes Too Big in a Tantalizing Market How Can Industry Performance Be Improved? Investment in Capital Equipment Investment in Human Capital Employee Involvement Research and Development The New Industrial Revolution What Are the Effects of Market Structure on Industry Performance? Market Concentration Aggregate Concentration Concentration and Industry Performance Corporate Raiders, LBOs, and the Feeding Frenzy Putting It Together Perspective: An Imperfect World For Further Study and Analysis Chapter 8 Government and Business Who Is Building the Information Highway? How Does the Government Limit Monopoly Power? Antitrust Legislation Industrial Consortiums Public Utility Regulation Deregulation Air Warfare Why Does the Government Produce Goods and Services? Collective Goods External Economies Collective Goods and Equity The New War between the States What Is the Role of Government in Protecting the Environment? Why Pollution Exists How Pollution Is Controlled Have We Been Successful? A Common Problem Putting It Together Perspective: The Interstate Highway to Serfdom For Further Study and Analysis Chapter 9 Government and Households Cradle to Grave What Does the Government Do to Reduce Poverty? The Distribution of Income Created Equal But... What Is the Answer to Poverty? The Rich Get Richer and the Poor Get Ketchup What Does the Government Do to Help Older Americans? Social Security Social Security Reform Depending on the Next Generation What Is the Role of Government in Protecting Consumers and Workers? Consumer Protection Worker Protection Taking Cookies from Strangers Putting It Together Perspective: The New Deal For Further Study and Analysis Unit III MACROECONOMICS Chapter 10 Money That Curious Commodity What Is Money? Currency Demand Deposits Near Money Dealing the Cards What Does Money Do? Medium of Exchange Unit of Measure Store of Value POW Money How Is Money Created? Currency Private Borrowing Government Borrowing How to Create Money How Is the Supply of Money Controlled? The Federal Reserve System Reserve Requirements Discounting Open Market Operations Cheap Money Putting It Together Perspective: The Big Bank Controversy For Further Study and Analysis Chapter 11 Economic Stability Movin' On Up! What Causes Unemployment? Unemployment Frictional Unemployment Structural Unemployment Inadequate Aggregate (Total) Demand Natural Rate of Unemployment Hidden Unemployment CC: El Desemplio What Causes Inflation? Measuring Inflation Demand-Pull Inflation Cost-Push Inflation Monetary Inflation The High Cost of Loving Is There a Trade-Off between Unemployment and Inflation? Phillips Curve Stagflation Going Down? What Are the Consequences of Unemployment and Inflation? Income Effects of Unemployment Real Output Effects of Unemployment Social Effects of Unemployment Income Effects of Inflation Real Output Effects of Inflation Inflation: How High Is Up? Putting It Together Perspective: Black Thursday and the Great Crash For Further Study and Analysis Chapter 12 The Eonomy's Output Forecasting or Fortune-Telling? How Much Does the Economy Produce? Expenditure Categories Income Categories Value Added Current and Constant Dollar GDP Shortcomings of GDP The Roller Coaster Ride What Determines Domestic Output from the Demand-Side Point of View? Consumption Demand Investment Demand Government Demand Equilibrium Output Spending Like There Is No Tomorrow What Determines Domestic Output from the Supply-Side Point of View? Say's Law Incentives Government Deficits Squaring the Economic Circle Putting It Together Perspective: The Keynesian Revolution For Further Study and Analysis Chapter 13 Public Finance Rx Health CareMarlin, Matthew is the author of 'Study of Economics Principles, Concepts & Applications', published 1999 under ISBN 9780073662428 and ISBN 0073662429.