Synopses & Reviews
Designed for the Survey of Economics course, the eighth edition of Economics: Theory and Practice introduces students to basic economic concepts, institutions, relationships, and terminology. This book prepares students to use economic thinking in their classes, careers, and everyday lives.
About the Author
Patrick Welch is an Economics professor in the John Cook School of Business at Saint Louis University. He received his B.A. from Marquette and his Ph. D. from the University of Pittsburgh. Research interests include: history of economic thought, industrial organization, and antitrust economics.
Table of Contents
Chapter 1. Introduction to Economics.
Chapter 2. Economic Decision Making and Economic Systems.
Chapter 3. Demand, Supply, and the Price Determination.
Chapter 4. Goals and Problems of the Macroeconomy: Employment, Prices, and Production.
Chapter 5. Foundations of the Macroeconomy.
Chapter 6. The Role of Government in the Macroeconomy.
Chapter 7. Money, Financial Institutions and the Federal Reserve.
Chapter 8. Money Creation, Monetary Theory, and Monetary Policy.
Chapter 9. Macroeconomic Viewpoints and Models.
Chapter 10. Households and Businesses: An Overview.
Chapter 11. Benefits, Costs, and Maximization.
Chapter 12. Production and the Costs of Production.
Chapter 13. Competition and Market Structures.
Chapter 14. Government and the Markets.
Chapter 15. Labor Markets, Unions, and the Distribution of Income.
Chapter 16. International Trade.
Chapter 17. International Finance.
Answers to Exercises and Sample Examination Questions.