Economics DeMYSTiFieD

Introduction<br/>Chapter 1 Introduction to Economics<br/>Scarcity<br/>Four Economic Resources<br/>Opportunity Cost<br/>Rational Decision Making<br/>Marginal Analysis<br/>Economic Models<br/>Appendix: Math and Graph Review<br/>Chapter 2 Utility and Consumer Choice<br/>Utility Functions and Preferences<br/>Principle of Diminishing Marginal Utility<br/>Budget Constraints<br/>Constrained Utility Maximization<br/>Spending the Marginal Dollar<br/>Chapter 3 Demand<br/>The Law of Demand<br/>Demand Curves<br/>Determinants of Demand<br/>Price Elasticity of Demand<br/>Cross-Price and Income Elasticities of Demand<br/>Chapter 4 Production and Cost<br/>The Inputs Used in Production—Fixed and Variable<br/>The Short Run and the Long Run<br/>Short-Run Production<br/>Diminishing Marginal Product<br/>Costs in the Short Run<br/>Increasing Marginal Cost<br/>Chapter 5 Supply<br/>The Marginal Cost Curve<br/>The Law of Supply<br/>Supply Curves<br/>Determinants of Supply<br/>The Price Elasticity of Supply<br/>Chapter 6 Market Equilibrium<br/>Competitive Markets<br/>Equilibrium<br/>Changes to Equilibrium<br/>Efficiency in Competitive Markets<br/>Price Controls<br/>Excise Taxes<br/>Chapter 7 Perfect Competition<br/>Key Assumptions of Perfect Competition<br/>Revenue and Costs<br/>Profit Maximization, Mathematically<br/>Accounting Profit and Economic Profit<br/>Profit Maximization, Graphically<br/>Economic Profit and Loss in the Short Run<br/>Long-Run Adjustments<br/>Efficiency<br/>Chapter 8 Monopoly<br/>Key Assumptions<br/>Demand, Marginal Revenue, and Elasticity<br/>Profit Maximization<br/>Deadweight Loss<br/>Government Regulation<br/>Price Discrimination<br/>Appendix<br/>Chapter 9 Imperfect Competition: Monopolistic Competition and Oligopoly<br/>Key Assumptions of Monopolistic Competition<br/>Short-Run Equilibrium in Monopolistic Competition<br/>Long-Run Equilibrium in Monopolistic Competition<br/>Oligopoly<br/>Key Assumptions of Oligopoly<br/>Game Theory<br/>Chapter 10 Factor Markets<br/>The Choice Between Labor and Leisure<br/>An Individual’s Labor Supply<br/>Labor Demand<br/>How Wages Are Determined<br/>Least-Cost Hiring of Two Inputs<br/>Chapter 11 Introduction to Macroeconomics<br/>A Model of the Economy as a Whole: The Circular Flow Diagram<br/>Measuring the State of the Economy<br/>Counting GDP: The Expenditures Approach<br/>Counting GDP: The Income Approach<br/>GNP Versus GDP—What’s the Difference?<br/>Chapter 12 Unemployment<br/>What Is Unemployment?<br/>The Labor Force<br/>Measuring Unemployment<br/>Two Types of Unemployment<br/>The Idea of Full Employment<br/>Underemployment and Discouraged Workers<br/>Theories of Unemployment<br/>Chapter 13 Inflation<br/>Introduction to Inflation<br/>The Consumer Price Index<br/>Real and Nominal Dollars<br/>The Consequences of Inflation<br/>Deflation Versus Disinflation<br/>Employment and Inflation<br/>Chapter 14 The Model of Aggregate Demand and Aggregate Supply<br/>Real GDP and Nominal GDP<br/>Understanding the Model of Aggregate Demand and Aggregate Supply<br/>Aggregate Demand (AD)<br/>Aggregate Supply (SRAS and LRAS)<br/>Equilibrium in the Macroeconomy<br/>Economic Growth<br/>Chapter 15 Money and the Money Market<br/>The Functions and Types of Money<br/>The Money Supply<br/>Fractional Reserves<br/>The Role of a Central Bank<br/>The Money Market<br/>Chapter 16 Fiscal Policy and Monetary Policy<br/>The Interest Rate<br/>The Classical Theory of Economics<br/>Keynesian Theory<br/>Fiscal Policy<br/>Difficulties with Fiscal Policy<br/>Monetary Policy<br/>Problems with Fiscal and Monetary Policy<br/>Applying Policy Actions to Economic Fluctuations<br/>Chapter 17 The Global Economy<br/>Production Possibilities<br/>Comparative Advantage and Gains from Trade<br/>Foreign Exchange Markets<br/>Currency Appreciation and Depreciation<br/>How Do Exchange Rates Affect Aggregate Demand?<br/>Balance of Payments<br/>Foreign Currency and Economic Policy<br/>Trade Barriers<br/>Chapter 18 Public Goods and the Environment<br/>Private and Public Goods<br/>Providing Public Goods<br/>Positive Externalities<br/>Negative Externalities<br/>Government Remedies for Externalities<br/>How Can Economics Reduce Pollution?<br/>Chapter 19 Health Economics and the Market for Health Insurance<br/>Introduction to Health Economics<br/>Healthcare Markets<br/>The Market for Insurance<br/>Healthcare Policy Reform<br/>Chapter 20 Economic Research<br/>Introduction to Research in Economics<br/>The Research Process<br/>Final Exam<br/>Answers to Quizzes and Final Exam<br/>Index