Understanding microeconomics / Russell S. Sobel, James D. Gwartney, Richard L. Stroup and David A. Macpherson

Includes index

PART 1: THE ECONOMIC WAY OF THINKING. 1. The Economic Approach. 2. Some Tools of the Economist. PART 2: MARKETS AND GOVERNMENT. 3. Supply, Demand, and the Market Process. 4. Supply and Demand: Applications and Extensions. 5. Difficult Cases for the Market and the Role of Government. 6. The Economics of Collective Decision Making. PART 3: CORE MACROECONOMICS. 7. Taking the Nation's Economic Pulse. 8. Economic Fluctuations, Unemployment, and Inflation. 9. An Introduction to Basic Macroeconomic Markets. 10. Economic Instability. 11. Fiscal Policy. 12. Money and the Banking System. 13. Modern Macroeconomics: The Monetary System. 14. Stabilization Policy, Output, and Employment. 15. Creating an Environment for Growth and Prosperity. 16. Institutions, Policies, and Cross-Country Differences in Income and Growth. PART 4: INTERNATIONAL ECONOMICS. 17. Gaining from International Trade. 18. International Finance and the Foreign Exchange Market. (macro split only). PART 5: CORE MICROECONOMICS. 19. Consumer Demand and Elasticity. 20. Costs and the Supply of Goods. 21. Price Takers and the Competitive Process. 22. Price-Searcher Markets with Low Entry Barriers. 23. Price-Searcher Markets with High Entry Barriers. 24. The Supply of and Demand for Productive Resources. 25. Earnings, Productivity, and the Job Market. 26. Investment, the Capital Market, and the Wealth of Nations. 27. Income Inequality and Poverty. PART 6: APPLYING THE BASICS. SPECIAL TOPICS.

eng