Economics for Today.
| Main Author: | |
|---|---|
| Other Authors: | , |
| Format: | eBook |
| Language: | English |
| Published: |
Melbourne :
Cengage,
2018.
|
| Edition: | 6th ed. |
| Subjects: | |
| Online Access: | View fulltext via EzAccess |
Table of Contents:
- Title page
- Imprint page
- Brief contents
- Contents
- Guide to the text
- Guide to the online resources
- Preface to the sixth edition
- Acknowledgements
- About the authors
- Part 1: Introduction to economics
- Chapter 1: Thinking like an economist
- The problem of scarcity
- Macroeconomics and microeconomics
- The methodology of economics
- Hazards of the economic way of thinking
- Why do economists disagree?
- Practical applications of economics
- Appendix to Chapter 1: Applying graphs to economics
- Direct and inverse relationships
- Slopes of lines in a graph
- Introduce a third variable to the graph
- The importance of index numbers
- Chapter 2: Production possibilities and opportunity cost
- The three fundamental economic questions
- Opportunity cost
- Marginal analysis
- The production possibilities frontier
- The law of increasing opportunity costs
- Shifting the production possibilities frontier
- Present investment and the future production possibilities frontier
- Gains from trade
- Chapter 3: Market demand and supply
- The law of demand
- The distinction between changes in quantity demanded and changes in demand
- Non-price determinants of demand
- The law of supply
- The distinction between changes in quantity supplied and changes in supply
- Non-price determinants of supply
- Market supply and demand analysis
- Chapter 4: Markets in action
- Changes in market equilibrium
- Can the laws of supply and demand be repealed?
- Market failure
- Part 2: Microeconomic fundamentals
- Chapter 5: Elasticity of demand and supply
- Price elasticity of demand
- Price elasticity of demand variations along a straight-line demand curve
- Determinants of price elasticity of demand
- Other measures of demand elasticity
- Price elasticity of supply
- Price elasticity and the impact of taxation.
- Chapter 6: Production costs
- Costs and profit
- Short-run production theory
- Short-run cost concepts
- Marginal cost relationships
- Long-run production costs
- Different scales of production
- Part 3: Market structures
- Chapter 7: Perfect competition
- Market structures
- Perfect competition
- Short-run profit maximisation for a perfectly competitive firm
- Short-run loss minimisation for a perfectly competitive firm
- Short-run supply curves under perfect competition
- Short-run and long-run equilibrium for a perfectly competitive firm
- Three types of long-run supply curve under perfect competition
- Chapter 8: Monopoly
- The monopoly market structure
- Price and output decisions for a monopolist
- Price discrimination
- Comparing monopoly and perfect competition: the case against and for monopoly
- Chapter 9: Monopolistic competition and oligopoly
- The monopolistic competition market structure
- The monopolistically competitive firm as a price maker
- Price and output decisions for a monopolistically competitive firm
- Comparing monopolistic competition and perfect competition
- The oligopoly market structure
- Price and output decisions for an oligopolist
- An evaluation of oligopoly and a review of the four market structures
- Chapter 10: Microeconomic policy issues: housing affordability and climate change
- Housing affordability
- Tackling climate change and carbon emissions
- Part 4: Macroeconomic fundamentals
- Chapter 11: Measuring the size of the economy
- The concept of gross domestic product: the basics
- Measuring GDP
- GDP shortcomings as a measure of economic welfare
- Changing nominal GDP to real GDP
- Relationship between national saving and investment in an open economy
- Chapter 12: Business cycles and economic growth
- The business cycle roller-coaster
- Business cycle indicators.
- Total spending and the business cycle
- Economic growth in the longer term
- The goals of macroeconomic policy
- Chapter 13: Inflation and unemployment
- Meaning and measurement of inflation
- Consequences of inflation
- The meaning and measurement of unemployment
- Types of unemployment
- Inflation and unemployment: Is there a relationship?
- Part 5: Macroeconomic theory and policy
- Chapter 14: A simple model of the macro economy
- Economic determinants of the four key expenditure components of aggregate demand
- The aggregate demand-aggregate supply model
- Changes in the AD-AS macroeconomic equilibrium
- Chapter 15: The monetary and financial system
- Some monetary fundamentals
- The determination of interest rates
- A modern financial system
- Chapter 16: Macroeconomic policy I: monetary policy
- What is monetary policy and how is it thought to affect the economy?
- Modern monetary policy implementation: the case of Australia
- An alternative view of the monetary policy transmission mechanism
- The appropriate role for monetary policy: the rules versus discretion debate
- Chapter 17: Macroeconomic policy II: fiscal policy
- Discretionary demand-side fiscal policy
- Supply-side fiscal policy
- The macroeconomic significance of the federal budget
- Implications of the budget outcome for government debt levels
- Part 6: Further aspects of international economics
- Chapter 18: International trade and finance
- Why nations benefit from trade
- Free trade, fair trade and protectionism
- The balance of payments
- The exchange rate and its economic impact
- Chapter 19: Macroeconomic policy issues: reflecting on the global financial and economic crisis &
- the European sovereign debt crisis
- The unfolding of a worldwide financial maelstrom
- The economic consequences of the GFEC.
- Macroeconomic policy responses to the crisis
- The European sovereign debt - and banking - crisis
- Index
- Glossary.