The following material is based on Economics and Contemporary Issues, 3rd ed. (Dryden Press, 1996), eds. Michael Edgmand, Ronald Moowaw, and Kent Olson. |
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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 |
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Chapter 2 |
Introduction |
Outline |
I. What Does a Government Do? |
II. How Big is Government? |
III. What Should Government Do? |
Problems |
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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 |
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Chapter 3: Appendix |
Introduction |
Outline |
I. Consumer Behavior |
II. The Law of Demand |
III. Producer Behavior |
IV. The Law of Supply |
Problems |
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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 |
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Chapter 5 |
Introduction |
Outline |
I. Do We Spend Too Much on Health Care? |
II. Recap and Policy Implications |
Problems |
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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 |
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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 |
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Chapter 10 |
Introduction |
Outline |
I. How Many People are Poor? |
II. The Long-Run Trend |
III. Policy Choices |
Problems |
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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 |
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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 |
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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 |
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Chapter 13 Appendix |
Introduction |
Outline |
I. The Money Creation Process |
II. The Federal Reserve and Control of the Money Supply |
Problems |
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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 |
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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 |
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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 |