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Gwartney/Stroup/Sobel/Macpherson's "Economics: Private and Public Choice" 18th Edition, highlights topics such as student loans, inflation, international trade, the stock market and the national debt. Reader-friendly coverage analyzes economic myths, clarifying current issues and controversies. Examine the importance of entrepreneurship and the process of creative destruction -- new goods, services and technology displacing existing jobs and businesses, while emphasizing how public choice provides a unique perspective to the political process and why government actions might fail to deliver desired outcomes. Learn how changing economic conditions and policies affect job market opportunities. Study the importance of international trade as a source of economic growth and higher living standards. Learn how to use economics to make better career decisions, investments and handling of risk.
Contents
Part I: THE ECONOMIC WAY OF THINKING.
1. The Economic Approach.
2. Some Tools of the Economist.
Part II: MARKETS AND GOVERNMENT.
3. Demand, Supply, and the Market Process.
4. Supply and Demand: Applications and Extensions.
5. Difficult Cases for the Market, and the Role of Government.
6. The Economics of Political Action.
Part III: CORE MACROECONOMICS.
7. Taking the Nation's Economic Pulse.
8. Economic Fluctuations, Unemployment, and Inflation.
9. An Introduction to Basic Macroeconomic Markets.
10. Dynamic Change, Economic Fluctuations, and the AD--AS Model.
11. Fiscal Policy: The Keynesian View and the Historical Development of Macroeconomics.
12. Fiscal Policy: Incentives, and Secondary Effects.
13. Money and the Banking System.
14. Modern Macroeconomics and Monetary Policy.
15. Macroeconomic Policy, Economic Stability, and the Federal Debt.
16. Creating an Environment for Growth and Prosperity.
17. Economic Development.
Part IV: INTERNATIONAL ECONOMICS.
18. Gaining from International Trade.
19. International Finance and the Foreign Exchange Market.
Part V: CORE MICROECONOMICS.
20. Consumer Choice and Elasticity.
21. Costs and the Supply of Goods.
22. Price Takers and the Competitive Process.
23. Price-Searcher Markets with Low Entry Barriers.
24. Price-Searcher Markets with High Entry Barriers.
25. The Supply of and Demand for Productive Resources.
26. Earnings, Productivity, and the Job Market.
27. Investment, the Capital Market, and the Wealth of Nations.
28. Income Inequality and Poverty.
Part VI: APPLYING THE BASICS: SPECIAL TOPICS IN ECONOMICS.
Special Topic 1. Government Spending and Taxation.
Special Topic 2. The Stock Market: Its Function, Performance, and Potential as an Investment Opportunity.
Special Topic 3. Keynes and Hayek: Contrasting Views on Sound Economics and the Role of Government.
Special Topic 4. The Great Recession of 2008-2009: Causes and Response.
Special Topic 5. Lessons from the Great Depression.
Special Topic 6. The Economics of Health Care.
Special Topic 7. Earnings Differences Between Men and Women.
Special Topic 8. The Question of Resource Exhaustion.
Special Topic 9. Difficult Environmental Cases and the Role of Government.
Appendix A. General Business and Economics Indicators for the United States.
Appendix B. Answers to Selected Critical Analysis Questions.
