Synopses & Reviews
The book provides a clear, concise, and accessible presentation of key points. Its hallmark feature includes a focus on the 5 Key Principles of Economics1) Opportunity Cost, 2) The Marginal Principle (comparing marginal benefits and marginal costs), 3) Diminishing Returns, 4) The Spillover Principle (for externalities in production and consumption), 5) The Reality Principle (distinguishing real from nominal magnitudes). For financial professionals and analysts.
Table of Contents
PART 1: INTRODUCTION AND KEY PRINCIPLES
Chapter 1: Introduction: What is Economics?
Chapter 2: Key Principles of Economics
Chapter 3: Exchange and Markets
Chapter 4: Supply, Demand, and Market Equilibrium
PART 2: A CLOSER LOOK AT SUPPLY AND DEMAND
Chapter 5: Elasticity: A Measure of Responsiveness
Chapter 6: Consumer Choice
Chapter 7: Market Efficiency and Government Intervention
PART 3: INFORMATION AND EXTERNALITIES
Chapter 8: Imperfect Information: Adverse Selection and Moral Hazard
Chapter 9: Environmental Policy
Chapter 10: Public Goods and Public Choice
PART 4: MARKET STRUCTURES AND PRICING
Chapter 11: Production Technology and Cost
Chapter 12: Perfect Competition
Chapter 13: Monopoly and Price Discrimination
Chapter 14: Market Entry and Monopolistic Competition
Chapter 15: Oligopoly and Strategic Behavior
Chapter 16: Market Structure and Public Policy
PART 5: THE LABOR MARKET AND INCOME DISTRIBUTION
Chapter 17: The Labor Market and the Distribution of Income
Chapter 18: Beyond Perfect Competition: Unions, Monopsony, and Imperfect Information
PART 6: THE BASIC CONCEPTS IN MACROECONOMICS
Chapter 19: International Trade and Public Policy