Textbook Materials

The following material is based on Economics and Contemporary Issues, 3rd ed. (Dryden Press, 1996), eds. Michael Edgmand, Ronald Moowaw, and Kent Olson.
Chapter 1
Introduction
Outline
I. Market Economics Systems: An Introductory Look
II. What Does an Economic System Do?
III. Comparative Systems: An Introductory Sketch
IV. Transitions to a Market Economy: Some Experiences
Problems
Chapter 2
Introduction
Outline
I. What Does a Government Do?
II. How Big is Government?
III. What Should Government Do?
Problems
Chapter 3
Introduction
Outline
I. Demand and Supply Analysis
II. The Effects of Changes in Demand and Supply on Equilibrium Price and Quantity
III. Politics, Government, and the Farm Problem
Problems
Chapter 3: Appendix
Introduction
Outline
I. Consumer Behavior
II. The Law of Demand
III. Producer Behavior
IV. The Law of Supply
Problems
Chapter 4
Introduction
Outline
I. General Comments and Definitions
II. Monopoly Analysis
III. Market Power and the U.S. Economy
IV. OPEC: A Few Sellers Acting Like a Monopoly
V. The Role of Government
Problems
Chapter 5
Introduction
Outline
I. Do We Spend Too Much on Health Care?
II. Recap and Policy Implications
Problems
Chapter 6
Introduction
Outline
I. Public Goods
II. Government Enforcement of Property Rights
III. Drug Control: Is Legalization the Answer?
IV. A Positive Analysis of Drug Prohibition
V. Evaluation: Hawks, Doves, and Owls
Problems
Chapter 7
Introduction
Outline
I. The Principal Air Pollution Problems
II. The Economist's Perspective
III. Market Failure: Is Government Action Necessary?
IV. Air Pollution Regulation: The Clean Air Act
V. Effects of the Clean Air Act on Air Quality
VI. The Economics of the Clean Air Act: Have We Gone too Far?
VIII. Cost-Reducing Measures
Problems
Chapter 10
Introduction
Outline
I. How Many People are Poor?
II. The Long-Run Trend
III. Policy Choices
Problems
Chapter 11
Introduction
Outline
I. Gross Domestic Product(GDP)
II. GDP's Components
III. Nominal GDP, Real GDP, and the GDP Deflator
IV. The Nation's Economic Performance
V. Determining the Nation's Output and Price Level
Problems
Chapter 12
Introduction
Outline
I. Costs of Unemployment
II. Counting the Unemployed
III. Types of Unemployment
IV. Full Employment
V. Policies to Reduce Unemployment
VI. Unemployment and the Minimum Wage
VII. Unemployment in Europe
Problems
Chapter 13
Introduction
Outline
I. Defining Inflation
II. Measuring Inflation
III. Effects of Inflation
IV. Money and the Money Supply
V. The Causes of Inflation
VI. Inflation and Policy
Problems
Chapter 13 Appendix
Introduction
Outline
I. The Money Creation Process
II. The Federal Reserve and Control of the Money Supply
Problems
Chapter 14
Introduction
Outline
I. Budget Deficits
II. The Size of the Federal Budget Deficit
III. Different Views of Deficits
IV. Effects of Deficits
V. Reducing the Deficit
VI. The National Debt
VII. The Burden of Debt
Problems
Chapter 15
Introduction
Outline
I. U.S. Participation in World Trade
II. Comparative Advantage and International Trade
III. Barriers to International Trade
IV. The Case for Free Trade
V. The Case for Protection
VI. Reducing Trade Barriers
VII. The Balance of Payments
VIII. Exchange Rates and Their Determination
IX. Policies to Reduce the Current Account Deficit
Problems
Chapter 16
Introduction
Outline
I. Employment Growth in the U.S. Economy
II. The Source of Employment
III. Production Possibilities and Economic Growth
IV. Capital Accumulation, Technical Progress, and the Demand for Labor
V. Causes of the Slowdown in Productivity Growth
VI. International Comparisons of Productivity and productivity Growth
Problems

[Return to Econ/IIPS 504 Page ]