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Economic Literacy: Basic Economics with an Attitude Book

Economic Literacy: Basic Economics with an Attitude
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Economic Literacy: Basic Economics with an Attitude, In its third edition, Economic Literacy: Basic Economics with An Attitude, explains the logic, language, and worldview of economic theory while maintaining the engaging and accessible style that has made earlier editions so successful. While covering the , Economic Literacy: Basic Economics with an Attitude
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  • Economic Literacy: Basic Economics with an Attitude
  • Written by author Weaver, Frederick Stirton
  • Published by Rowman & Littlefield Publishers, Inc., 9/16/2010
  • In its third edition, Economic Literacy: Basic Economics with An Attitude, explains the logic, language, and worldview of economic theory while maintaining the engaging and accessible style that has made earlier editions so successful. While covering the
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Book Categories

Authors

List of Figures ix

List of Tables xi

Preface xiii

Acknowledgments xvi

Introduction 1

The Organization of the Book 8

I Microeconomics and the Theory of Markets

1 Demand and Supply 13

Demand 13

Income and Wealth 15

Prices of Other Goods 15

Tastes 16

Expectations 16

Supply 17

Prices of Inputs 18

Technology 18

Expectations 18

Market Equilibrium 23

Case 1 26

Case 2 26

Case 3 28

Case 4 28

Elasticity 35

Sales Taxes 44

Case 5 46

Case 6 47

2 The Theory of the Firm, Market Structures, Factor Markets, and the Distribution of Income 49

Perfect Competition 54

Market Failure 58

Monopoly 61

Price Discrimination 63

Monopolistic Competition 64

Oligopoly 67

The End of Oligopoly? 70

Deregulation 72

The Theory of Factor Pricing 76

The Distribution of Income 83

II Macroeconomics

3 The Economy as a Whole: Definitions and Analyses 99

Why Macroeconomics? 100

How Gross Is the Gross Domestic Product? 103

Effective Demand 112

Households and Consumption 113

The Business Sector and Investment 117

The Public Sector 123

4 Fiscal Policy, Monetary Policy, Recession and Inflation 135

Fiscal Policy: Taxing and Spending 135

Money Is as Money Does 141

Financial Markets, the Federal Reserve System, and Monetary Policy 144

Monetary Policy 145

Business Cycles, Inflation, and Unemployment 151

Up, Up, Up ... 152

Down, Down, Down ... 158

The Tools of Stabilization Policy 162

A New Dynamic? 164

Financial Crisis 168

The Great Recession 175

III International Economics and National Economies

5 International Economics and Comparative Advantage 181

The Idea of Comparative Advantage 182

Exchange Rates and Adjustment Mechanisms 184

Gold standard 189

Flexible Exchange Rates 190

International Investment and the Balance of Payments 193

Government Policy and the International Economy: Tariffs, Quotas, and Exchange Rates 197

Free Trade Determining Public Policy 201

6 The International Economy: The Rise and Fall of Bretton Woods 203

The Dollar Exchange Standard, 1944-1971 205

Transnational Corporations 211

The Transformation of the International Economy 212

The End of the Bretton Woods Payments System 213

The Beginning of a New International Economy 215

The New International Economy 219

An Anomaly and a Worry 227

Some Final Observations 231

Appendix: Websites of Related Interest 237

Notes 241

Index 247

About the Author 271


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Economic Literacy: Basic Economics with an Attitude, In its third edition, Economic Literacy: Basic Economics with An Attitude, explains the logic, language, and worldview of economic theory while maintaining the engaging and accessible style that has made earlier editions so successful. While covering the , Economic Literacy: Basic Economics with an Attitude

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Economic Literacy: Basic Economics with an Attitude, In its third edition, Economic Literacy: Basic Economics with An Attitude, explains the logic, language, and worldview of economic theory while maintaining the engaging and accessible style that has made earlier editions so successful. While covering the , Economic Literacy: Basic Economics with an Attitude

Economic Literacy: Basic Economics with an Attitude

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Economic Literacy: Basic Economics with an Attitude, In its third edition, Economic Literacy: Basic Economics with An Attitude, explains the logic, language, and worldview of economic theory while maintaining the engaging and accessible style that has made earlier editions so successful. While covering the , Economic Literacy: Basic Economics with an Attitude

Economic Literacy: Basic Economics with an Attitude

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