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Introductory Economics

Economics

ISBN #978-1-959142-70-6

Introductory Economics

Scott Findley, PhD
Dwight Israelsen, PhD

This textbook surveys many important macroeconomic concepts including inflation, unemployment, gross domestic product, interest rate determination, growth, income fluctuations, etc. Macroeconomic models that analyze these issues are introduced. The historical evolution of key economic institutions in the United States and the problems facing economic policymakers who use monetary and fiscal policy to deal with the issues of inflation, unemployment, and growth are highlighted. Learning this material will help one to develop an economic literacy and one will also acquire an awareness of current developments in the real-world economies.

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Table of Contents

Chapter 1: What Is “Economics” and What Do Economists Do?
Chapter 2: Allocative Efficiency and the Benefits of Exchange
Chapter 3: Markets, Supply, and Demand
Chapter 4: GDP: National Output is National Income
Chapter 5: The Consumer Price Index and Inflation: Measuring Changes in the Cost of Living
Chapter 6: Unemployment
Chapter 7: Growth and Development: Why Are Some Countries Rich while Others Are Poor?
Chapter 8: Saving, Investment Spending, and the Role of Financial Institutions
Chapter 9: Money and the Monetary System
Chapter 10: Monetary Theory, Monetary Policy, and the Relationship between Money and Inflation
Chapter 11: Aggregate Demand, Aggregate Supply, and Economic Equilibrium
Chapter 12: Macroeconomic Fluctuations and Countercyclical Stabilization Policy
Chapter 13: Macroeconomic Stabilization in Practice: The Use of Monetary and Fiscal Policies

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