Economics

Summary: I. INTRODUCTION. 1. What Is Economics? 2. The Economic Problem. II. HOW MARKETS WORK. 3. Demand and Supply. 4. Elasticity. 5. Efficiency and Equity. 6. Markets in Action. III. HOUSEHOLDS' CHOICES. 7. Utility and Demand. 8. Possibilities, Preferences, and Choices. IV. FIRMS AND MARKETS. 9. Organizing Production. 10. Output and Costs. 11. Perfect Competition. 12. Monopoly. 13. Monopolistic Competition and Oligopoly. V.... MARKET FAILURE AND GOVERNMENT. 14. Regulation and Antitrust Law. 15. Externalities. 16. Public Goods and Common Resources. VI. FACTOR MARKETS, INEQUALITY, AND UNCERTAINTY. 17. Demand and Supply in Factor Markets. 18. Economic Inequality. 19. Uncertainty and Information. VII. Macroeconomic Overview. 20. A First Look at Macroeconomics. 21. Measuring GDP and Economic Growth. 22. Monitoring Cycles, Jobs, and the Price Level. 23. Aggregate Supply and Aggregate Demand. VIII. AGGREGATE SUPPLY AND ECONOMIC GROWTH. 24. The Economy at Full Employment: The Classical Model. 25. Economic Growth. IX. AGGREGATE DEMAND, MONEY, AND INFLATION. 26. Money, Banks, and the Federal Reserve. 27. Money, Interest, Real GDP, and the Price Level. 28. Inflation. X. ECONOMIC FLUCTUATIONS AND STABILIZATION POLICY. 29. Expenditure Multipliers: The Keynesian Model. 30. The Business Cycle. 31. Fiscal Policy. 32. Monetary Policy. XI. THE GLOBAL ECONOMY. 33. Trading with the World. 34. International Finance. [read more]