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Economics

Author: Paul R Krugman; Robin Wells
Publisher: New York : Worth Publishers, ©2009.
Edition/Format:   Print book : Document   Computer File : English : 2nd edView all editions and formats
Summary:
Providing students of economics with a complete introduction to the subject, this work includes examples not just based on US macroeconomic history, but international experiences, so will appeal to a European audience and give students a more realistic view of how economics works in the real world.
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Genre/Form: Einführung
Material Type: Document, Internet resource
Document Type: Book, Computer File, Internet Resource
All Authors / Contributors: Paul R Krugman; Robin Wells
ISBN: 9780716771586 0716771586 9781429238069 1429238062 9781429218269 1429218266 9781429245821 1429245824
OCLC Number: 318357806
Notes: Includes index.
Description: 1 volume (various pagings) : color illustrations ; 29 cm
Contents: pt. 1. What is economics? --
Introduction : the ordinary business of life --
1. First principles --
Individual choice : the core of economics --
2. Economic models : trade-offs and trade --
2. Graphs in economics --
graphs, variables, and economic models --
A key concept : the slope of a curve --
Calculating the area below or above a curve --
Graphs that depict numerical information --
pt. 2. Supply and demand --
3. Supply and demand : a model of a competitive market --
The demand curve --
The supply curve --
Supply, demand, and equilibrium --
Changes in supply and demand --
Competitive markets and others --
4. Consumer and producer surplus --
Consumer surplus and the demand curve --
Producer surplus and the supply curve --
Consumer surplus, producer surplus and the gains from trade --
A market economy --
5. The market strikes back --
Why governments control prices --
Price ceilings --
Price floors --
Controlling quantities --
6. Elasticity --
Defining and measuring elasticity --
Interpreting the price elasticity of demand --
Other demand elasticities --
The price elasticity of supply --
An elasticity menagerie --
pt. 3. Individuals and markets --
7. Taxes --
The economics of taxes : a preliminary view --
The benefits and costs of taxation --
Tax fairness and tax efficiency --
Understanding the tax system --
8. International trade --
Comparative advantage and international trade --
Supply, demand, and international trade --
The effects of trade protection --
The political economy of trade protection --
pt. 4. Economics and decision making --
9. Opportunity cost and decisions --
Making "how much" decisions : the role of marginal analysis --
Sunk costs --
The concept of present value --
pt. 5. The consumer --
10. The rational consumer --
Utility : getting satisfaction --
Budgets and optimal consumption --
Spending the marginal dollar --
From utility to the demand curve --
11. Consumer preferences and consumer choice --
Mapping the utility function --
Indifference curves and consumer choice --
Prices, income, and demand. pt. 6. Behind the supply curve : inputs and costs --
The production function --
Malthus --
Two key concepts : marginal cost and average cost --
Short-run versus long-run costs --
13. Perfect competition and the supply curve --
Perfect competition --
Production and profits --
The industry supply curve --
pt. 7. Market structure : beyond perfect competition --
14. Monopoly --
Types of market structure --
The meaning of monopoly --
How a monopolist maximizes profit --
Monopoly and public policy --
Price discrimination --
15. Oligopoly --
The prevalence of oligopoly --
Collusion and competition --
Games oligopolists play --
Oligopoly in practice --
Tacit collusion and price wars --
How important is oligopoly? --
16. Monopolistic competition and product differentiation --
The meaning of monopolistic competition --
Product differentiation --
Understanding monopolistic competition --
Controversies about product differentiation --
The role of advertising --
pt. 8. Microeconomics and public policy --
17. Externalities --
The economics of pollution --
Policies toward pollution --
Environmental standards --
Production, consumption, and externalities --
Network externalities --
18. Public goods and common resources --
Private goods and others --
Public goods --
Common resources --
Artificially scarce goods --
19. The economics of the welfare state --
Poverty, inequality, and public policy --
The U.S. Welfare State --
Means-tested programs --
Social Security and Unemployment Insurance --
The economics of health care --
The debate over the welfare state --
pt. 9. Factor markets and risk --
20. Factor markets and the distribution of income --
The economy's factors of production --
Marginal productivity and factor demand --
Is the marginal productivity theory of income distribution really true? --
The supply of labor --
20. Appendix : Indifference curve analysis of labor supply --21. Uncertainty, risk, and private information --
The economics of risk aversion --
Buying, selling, and reducing risk --
Private information : what you don't know can hurt you. pt. 10. Introduction to macroeconomics --
22. Macroeconomics : the big picture --
The nature of macroeconomics --
The business cycle --
The pain of recession --
Long-run economic growth --
Inflation and deflation --
International imbalances --
23. Tracking the macroeconomy --
The national accounts --
The circular-flow diagram --
Gross Domestic Product --
Calculating GDP --
Real GDP : a measure of aggregate output --
Price indexes and the aggregate price level --
The Consumer Price Index --
24. Unemployment and inflation --
The unemployment rate --
The natural rise of unemployment --
Job creation and job destruction --
Inflation and deflation --
pt. 11. Long-run economic growth --
25. Comparing economics across space and time --
The sources of long-run growth --
Productivity --
The aggregate production function --
Why growth rates differ --
Capital, technology, and growth differences --
The role of government in promoting economic growth --
Success, disappointment, and failure --
East Asia's miracle --
Latin America's disappointment --
Africa's troubles --
Is world growth sustainable? --
Economic growth and the environment --
26. Savings, investment spending, and the financial system --
Matching up savings and investment spending --
The financial system --
Financial fluctuations --
Asset price expectations --
Asset price and macroeconomics --
pt. 12. Short-run economic fluctuations --
27. Income and expenditure --
The multiplier : an informal introduction --
Consumer spending --
Investment spending --
The income-expenditure model --
27. Appendix : Aggregate demand and aggregate supply --
28. Aggregate demand and aggregate supply --
Shifts of the aggregate demand curve --
Shifts of the short-run aggregate supply curve --
The AD-AS model --
Short-run macroeconomic equilibrium --
Macroeconomic policy --
Keynes. pt. 13. Stabilization policy --
29. Fiscal policy --
Fiscal policy : the basics --
Taxes, purchases of goods and services, government transfers, and borrowing --
The government budget and total spending --
Fiscal policy and the multiplier --
The budget balance --
The business cycle and the cyclically adjusted budget balance --
Long-run implications of fiscal policy --
Deficits, surpluses and debt --
29. Appendix : Taxes and the multiplier --
30. Money, banking and the Federal Reserve System --
The meaning of money --
Measuring the money supply --
The monetary role of banks --
Bank regulation --
Determining the money supply --
The Federal Reserve System --
What the Fed does : reserve requirements and the discount rate --
Open-market operations --
European Central Bank --
An overview of the twenty-first century American Banking System --
31. Monetary policy --
The demand for money --
Money and interest rates --
Monetary policy and aggregate demand --
Monetary policy, income, and expenditure --
Inflation targeting --
Money, output, and prices in the long run --
31. Appendix : Reconciling the two models of the interest rate --
32. Inflation, disinflation, and deflation --
Money and inflation --
Moderate inflation and disinflation --
The output gap and the unemployment rate --
Okun's Law --
The Short-run Phillips Curve --
Inflation and unemployment in the long run --
Debt deflation --
pt. 14. Events and ideas --
33. Classical Macroeconomics --
Money and the price level --
The Great Depression and the Keynesian revolution --
Keyne's theory --
Challenges to Keynesian economics --
The revival of monetary policy --
Monetarism --
Inflation and the natural rate of unemployment --
The political business cycle --
Rational expectations, real business cycles, and new classical macroeconomics --
The modern consensus --
pt. 15. The open economy --
34. Open-economy macroeconomics --
Capital flows and the balance of payments --
The role of the exchange rate --
Exchange rate policy --
Exchange rates and macroeconomic policy --
Fixed exchange rates --
Floating exchange rates.
Responsibility: Paul Krugman, Robin Wells.
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Abstract:

Presents an introduction to economics. Suitable for students and lecturers, this work offers an array of supplements, including a companion website with material and resources.  Read more...

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