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Full Description
Bring the study of economics to life with PRINCIPLES OF ECONOMICS, 7TH EDITION. Award-winning educator and author Fred Gottheil speaks directly to student experience through a conversational writing style and narrative that uses stories, familiar examples, engaging scenarios, and relevant examples from literature emphasizing that economic principles can be found in all aspects of modern life. The text focuses on the key questions and presents the basic concepts-developing economic analysis step-by-step. The result is a more interactive and enjoyable learning experience when compared to the pedantic approaches often found in texts. Each chapter in the seventh edition has been thoroughly revised to reflect the most relevant data and critical issues, such as how the rash of foreclosures that continues to plague our economy today is related to the repeal of the 1933 Glass-Steagall Act in 1999, as well as emerging issues such as the current research on the Economics of Happiness and its integration into utility analysis. The Keynesian concept of the liquidity trap is new to the text and is added to help explain the factors that undermine the effectiveness of current monetary policy. We invite you to see for yourself how Fred Gottheil's approach will help to shorten the distance between students and the exciting study of economics. Available with InfoTrac (R) Student Collections http://gocengage.com/infotrac.
Contents
PART I1. Introduction.2. Production Possibilities and Opportunity Costs.3. Demand and Supply.4. Elasticity.5. Happiness, Utility, and Consumer Choice.6. Price Ceiling and Price Floors.7. Entrepreneurship and Business Ownership.8. Costs of Production.9. Maximizing Profit.10. Identifying Markets and Market Structure.11. Price and Output in Monopoly, Monopolistic Competition, and Perfect Competition.12. Price and Output Determination under Oligopoly.13. Antitrust Regulation.14. Externalities, Market Failure, and Public Choice.15. Wage Rates in Competitive Labor Markets.16. Wages and Employment: Monopsony and Labor Unions.17. Interest, Rent, and Profit.18. Income Distribution and Poverty.PART V: EMPLOYMENT, INFLATION, AND FISCAL POLICY.19. Aggregate Demand and Aggregate Supply.20. Gross Domestic Product Accounting.21. Consumption and Investment.22. Equilibrium National Income.23. Fiscal Policy: Coping with Inflation and Unemployment.24. Long-Run Economic Growth and Business Cycles.PART VI: MONEY, BANKING, AND MONETARY POLICY.25. Money.26. Money Creation and the Banking System.27. The Federal Reserve System and Monetary Policy.PART VII: GOVERNMENT AND THE MACROECONOMY.28. Can Government Really Stabilize the Economy?.29. Government Spending.30. Financing Government: Taxes and Debt.PART VIII: THE WORLD ECONOMY.31. International Trade.32. Exchange Rates, Balance of Payments, and International Debt.33. The Economic Problems of Less-Developed Economies.Practice Test Answer Key.Glossary.Index.
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