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Economics for dummies

Author: Sean Masaki Flynn
Publisher: Hoboken, NJ : John Wiley & Sons, Inc., [2018]. ©2018
Series: --For dummies.
Edition/Format:   eBook : Document : English : 3rd editionView all editions and formats
Summary:
Grasp the history, principles, theories, and terminology of economics. This updated guide gives you a straightforward, easy-to-grasp understanding of how the economy functions-- and how it influences personal finances.
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Flynn, Sean Masaki.
Economics for Dummies.
[Place of publication not identified] : John Wiley & Sons Inc 2018
(OCoLC)1020182845
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Sean Masaki Flynn
ISBN: 9781119476276 1119476275 9781119476320 1119476321
OCLC Number: 1031706479
Notes: Includes index.
Description: 1 online resource : illustrations.
Contents: Intro; Title Page; Copyright Page; Table of Contents; Introduction; About This Book; Foolish Assumptions; Icons Used in This Book; Beyond the Book; Where to Go from Here; Part 1 Economics: The Science of How People Deal with Scarcity; Chapter 1 What Economics Is and Why You Should Care; Considering a Little Economic History; Pondering just how nasty, brutish, and short life used to be; Identifying the institutions that raise living standards; Looking toward the future; Framing Economics as the Science of Scarcity; Sending Microeconomics and Macroeconomics to Separate Corners Getting up close and personal: MicroeconomicsZooming out: Macroeconomics and the big picture; Understanding How Economists Use Models and Graphs; Introducing your first model: The demand curve; Drawing your own demand curve; Chapter 2 Cookies or Ice Cream? Exploring Consumer Choices; Describing Human Behavior with a Choice Model; Pursuing Personal Happiness; Using utility to measure happiness; Taking "selfless" actions into account; Self-interest can promote the common good; You Can't Have Everything: Examining Limitations; Resource constraints; Technology constraints; Time constraints Opportunity cost: The unavoidable costMaking Your Choice: Deciding What and How Much You Want; Exploring Violations and Limitations of the Economist's Choice Model; Understanding uninformed decision-making; Making sense of irrationality; Chapter 3 Producing Stuff to Maximize Happiness; Figuring Out What's Possible to Produce; Classifying resources; Clarifying human capital; Diminishing returns; Allocating resources; Graphing your production possibilities; Reaching new frontiers with better technology; Deciding What to Produce; Comparing market results and government interventions Opting for a mixed economyPromoting Technology and Innovation; Part 2 Microeconomics: The Science of Consumer and Firm Behavior; Chapter 4 Supply and Demand Made Easy; Deconstructing Demand; Prices and other stuff: Looking at what affects quantity demanded; Graphing the demand curve; Opportunity costs: Setting the slope of the demand curve; Elasticity: Looking at extreme demand cases; Sorting Out Supply; Graphing the supply curve; Using elasticity to understand extreme supply cases; Bringing Supply and Demand Together; Market equilibrium: Seeking a balance Demonstrating the stability of the market equilibriumAdjusting to new market equilibriums when supply or demand changes; Price Controls: Keeping Prices Away from Market Equilibrium; Setting upper limits with price ceilings; Propping up prices with price floors; Chapter 5 Introducing Homo Economicus, the Utility-Maximizing Consumer; Choosing by Ranking; Getting Less from More: Diminishing Marginal Utility; Choosing Among Many Options When Facing a Limited Budget; Trying to buy as much (marginal) utility as you can; Purchasing the best combination of two goods to maximize total utility
Series Title: --For dummies.
Other Titles: Economics
Responsibility: by Sean Flynn.

Abstract:

Presents an introduction to economics that covers both microeconomics and macroeconomics, discussing such topics as inflation, recessions, competition, supply and demand, monopolies, and free markets.

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