Economics

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Cengage Learning EMEA, 2006 - 830 pagine
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Economics is the UK and European adaptation of Greg Mankiw s classic textbook, expertly adapted by Mark Taylor so as to be even more relevant to a UK and European audience. A major strength of the original - that the authors present economics from the viewpoint of a reader completely new to the subject has been maintained. Research shows that the book appeals particularly well to the more applied, business-oriented courses. The conversational yet precise writing style is superb for presenting the politics and science of economic theories to tomorrow's decision-makers. The book stands out amongst all other principles texts by encouraging students to apply an economic way of thinking in their daily lives. Economics is written to provide students with a robust conceptual understanding of the subject using contemporary approaches to theory where possible. It follows the structure of the original book while reflecting European economic structures and institutions and adapting the language and cultural references for a European readership. In the first Part, the opening chapter sets out ten important principles, which are revisited throughout the text. The second chapter is an introduction to thinking like an economist and the third introduces interdependence and gains from trade. The following Parts cover microeconomics (19 chapters) and macroeconomics (15 chapters), with the latter Part preserving Mankiw s trademark long run-short run approach. Economics uses the euro as the basic currency referred to throughout the book. Case studies, examples, In The News and For Your Information features largely refer to the European and UK economies. Major changes in content are evident in Chapter 12 on the taxation system , Chapter 29 on the monetary and financial system and in a new Chapter on common currency areas and European Monetary Union (Chapter 36)
 

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Indice

Ten principles of economics
3
How the economy as a whole works
11
Thinking like an economist
19
The economist as policy advisor
28
Questions for review
34
Interdependence and the gains from trade
45
The principle of comparative advantage
50
Conclusion
56
TOPICS FOR FURTHER STUDY
417
What the consumer chooses
426
Three applications
433
Do people really think this way?
441
The data of macroeconomics
463
THE DATA OF MACROECONOMICS
465
The components of GDP
471
Real versus nominal GDP
473

The market forces of supply
63
Supply and demand
64
Supply
70
Summary
82
The market forces of supply and demand 63
83
The elasticity of demand
88
The elasticity of supply
97
Conclusion
105
Supply demand and government policies
109
Controls on prices
110
Summary
126
Consumers producers and the efficiency
131
Consumer surplus
132
The costs of taxation
149
Deadweight loss and tax revenue as taxes vary
157
International trade
165
Conclusion
184
Externalities
189
Externalities and market inefficiency
190
Public policies towards externalities
198
Conclusion
204
Public goods and common resources
207
Common resources
214
The importance of property rights
220
The design of the tax system
223
Taxes and efficiency
231
The tradeoff between equity
241
Firm behaviour and the organization
245
The various measures of cost
255
Conclusion
263
Firms in competitive markets
267
Measuring profit in our graph for the competitive
276
Behind the supply curve
284
Monopoly
287
How monopolies make production and pricing
291
The welfare cost of monopoly
298
The prevalence of monopoly
311
Oligopoly
319
Game theory and the economics of cooperation
329
Public policy toward oligopolies
337
Monopolistic competition
347
Advertising
354
Questions for review
360
The economics of labour markets
363
The demand for labour
366
The supply of labour
372
Conclusion
381
Earnings and discrimination
385
Discrimination by employers
395
Income inequality and poverty
401
Policies to reduce poverty
409
Summary
415
Conclusion
481
Measuring the cost of living
485
Correcting economic variables for the effects
493
Summary
499
The real economy in the long run
501
The importance of longrun growth
522
Saving investment and the financial system
525
Saving and investment in the national income
532
Conclusion
540
The basic tools of finance
545
Measuring the time value of money
546
Asset valuation
552
Summary
558
Unemployment
561
Minimum wage laws
573
Conclusion
580
The monetary system
587
The role of central banks
593
The Federal Reserve system
596
Conclusion
604
Money growth and inflation
609
The classical theory of inflation
610
The costs of inflation
621
The macroeconomics of open
635
Real
647
Conclusion
655
A macroeconomic theory of the open economy
659
How policies and events affect an open economy
667
Conclusion
675
Shortrun economic fluctuations
679
Aggregate demand
681
The aggregate demand curve
687
Why the aggregate supply curve slopes upward
695
Conclusion
707
The influence of monetary and fiscal policy
711
How fiscal policy influences aggregate demand
721
Using policy to stabilize the economy
727
Questions for review
733
The shortrun tradeoff between inflation
735
The role
739
The longrun vertical Phillips curve as an argument
745
Inflation targeting
754
Common currency areas and European monetary
767
The theory of optimum currency areas
775
Fiscal policy and common currency areas
785
Conclusion
792
Five debates over macroeconomic policy
797
Should the government balance its budget?
802
Conclusion
811
Glossary
815
Index
821
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