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Economics : principles, problems, and policies / Campbell R. McConnell, Stanley L. Brue.
Lippincott Library HB171.5 .M139 1996
Available
- Format:
- Book
- Author/Creator:
- McConnell, Campbell R.
- Language:
- English
- Subjects (All):
- Economics.
- Physical Description:
- 1 volume (various pagings) : color illustrations ; 27 cm
- Edition:
- Thirteenth edition.
- Place of Publication:
- New York : McGraw-Hill, [1996]
- Contents:
- To the Student
- 1 The Nature And Method of Economics 1
- The Age of the Economist
- Methodology
- Pitfalls to Objective Thinking
- The Economic Perspective
- Fast-Food Lines: An Economic Perspective
- Appendix to Chapter 1: Graphs and Their Meaning
- 2 The Economizing Problem 21
- The Foundation of Economics
- Economics: Employment and Efficiency
- Unemployment, Growth, and the Future
- The "Isms"
- The Circular Flow Model
- The Diminishing Production Possibilities of Castro's Cuba
- 3 Understanding Individual Markets: Demand And Supply 39
- Markets Defined
- Demand
- Supply
- Supply and Demand: Market Equilibrium
- Ticket Scalping: A Bum Rap?
- 4 Pure Capitalism And The Market System 58
- Capitalist Ideology
- Other Characteristics
- The Competitive Market System
- The Five Fundamental Questions
- The Market System at Work
- Back to Barter
- 5 The Mixed Economy: Private And Public Sectors 74
- Households as Income Receivers
- Households as Spenders
- The Business Population
- Legal Forms of Businesses
- Economic Functions of Government
- Legal and Social Framework
- Maintaining Competition
- Redistribution of Income
- Reallocation of Resources
- The Circular Flow Revisited
- Government Finance
- Federal Finance
- State and Local Finance
- The Financing of Corporate Activity
- 6 The United States In The Global Economy 96
- Growth of World Trade
- Back to the Circular Flow
- Specialization and Comparative Advantage
- Foreign Exchange Market
- Government and Trade
- Multilateral Agreements and Free-Trade Zone
- Can American Firms Compete?
- Buy American: The Global Refrigerator
- Part 2 National Income, Employment, and Fiscal Policy
- 7 Measuring Domestic Output, National Income, And The Price Level 119
- Macroeconomic Measurement
- Gross Domestic Product
- Expenditures Approach
- Income Approach
- Other Social Accounts
- Measuring the Price Level
- Nominal and Real GDP
- GDP and Social Welfare
- The CPI: Does It Overstate Inflation
- 8 Mactoeconomic Instability: Unemployment and Inflation 143
- The Business Cycle
- Unemployment
- Inflation: Defined and Measured
- Redistributive Effects of Inflation
- Output Effects of Inflation
- The Stock Market and Macroeconomic Instability
- 9 Building the Aggregate Expenditures Model 166
- Historical Backdrop
- Simplifications
- Tools of the Aggregate
- Expenditures Theory
- Consumption and Saving
- Investment
- Equilibrium GDP: Expenditures-Output Approach
- Equilibrium GDP: Leakages-Injections Approach
- Planned versus Actual Investment
- John Maynard Keynes (1883-1946)
- 10 Aggregate Expenditures: The Multiplier, Net Exports, and Government 191
- Changes in Equilibrium GDP and the Multiplier
- International Trade and Equilibrium Output
- Adding the Public Sector
- Equilibrium versus Full-Employment GDP
- Historical Applications
- Critique and Preview
- Squaring the Economic Circle
- 11 Aggregate Demand and Aggregate Supply 213
- Aggregate Demand
- Aggregate Supply
- Equilibrium: Real Output and the Price Level
- Changes in Equilibrium
- Why Is Unemployment in Europe So High?
- 12 Fiscal Policy 234
- Legislative Mandates
- Discretionary Fiscal Policy
- Nondiscretionary Fiscal Policy: Built-in Stabilizers
- Problems, Criticisms, and Complications
- The Leading Indicators
- Part 3 Money, Banking, and Monetary Policy
- 13 Money and Banking 253
- The Functions of Money
- The Supply of Money
- What "Backs" the Money Suppy?
- The Demand for Money
- The Money Market
- The United States Financial System
- Bank and Thrift Failures
- The Global Greenback
- 14 How Banks Create Money 276
- The Balance Sheet of a Commercial Bank
- Prologue: The Goldsmiths
- A Single Commercial Bank
- The Banking System: Multiple-Deposit Expansion
- The Bank Panics of 1930-1933
- 15 The Federal Reserve Banks and Monetary Policy 293
- Goals of Monetary Policy
- Consolidated Balance Sheet of the Federal Reserve Banks
- Tools of Monetary Policy
- Monetary Policy, Real GDP, and the Price Level
- Effectiveness of Monetary Policy
- The "Big Picture"
- For the Fed, Life Is a Metaphor
- Part 4 Problems and Controversies in Macroeconomics
- 16 Alternative Views on Macro Theory and Policy 317
- Classics and Keynes: AD-AS
- Interpretation
- Keynesians and Monetarism
- Rational Expectations Theory
- Absorption into the Mainstream
- "Real" Business Cycle Theory
- 17 The Inflation-Unemployment Relationship 338
- The Phillips Curve
- Stagflation: A Shifting Phillips Curve?
- Natural Rate Hypothesis
- Aggregate Supply Revisited
- Demand-Pull and Cost-Push Inflation
- Employment and Training Policy
- Wage-Price (Incomes) Policies
- Supply-Side Economics
- Recap: Alternative Macroeconomic Perspectives
- Profit Sharing: Making Wages Flexible
- 18 Budget Deficits and the Public Debt 362
- Deficits and Debt: Definitions
- Budget Philosophies
- The Public Debt: Facts and Figures
- Economic Implications: False Issues
- Implications and Issues
- Recent Federal Deficits
- Budget Deficits and Trade Deficits
- Cut Entitlements to Reduce the Deficit?
- 19 Economic Growth 379
- Growth Economics
- Ingredients of Growth
- Graphical Analysis
- United States Growth
- Accounting for Growth
- The Productivity Slowdown
- Doomsday Models
- Growth Policies
- Is Growth Desirable?
- Part 5 Microeconomics of Product Markets
- 20 Demand and Supply: Elasticities And Applications 399
- Price Elasticity of Demand
- Price Elasticity of Supply
- Applications: Legal Prices
- Market Forces and the Value of Education
- 21 Consumer Behavior And Utility Maximization 418
- Two Explanations of the Law of Demand
- Theory of Consumer Behavior
- Marginal Utility and the Demand Curve
- Applications and Extentions
- The Inefficiency of Christmas Gift-Giving
- Appendix to Chapter 21: Indifference Curve Analysis
- 22 The Costs of Production 436
- Economic Costs
- Short-Run Production Costs
- Production Costs in the Long Run
- Economies of Scale and Industrial Concentration
- 23 Price and Output Determination: Pure Competition 457
- Four Market Models
- Pure Competition: Concept and Occurrence
- Demand to a Competitive Seller
- Profit Maximization in the Short Run: Two Approaches
- Profit Maximization in the Long Run
- Pure Competition and Efficiency
- "Creative Destruction" as a Competitive Force
- 24 Price and Output Determination: Pure Monopoly 484
- Pure Monopoly: Introduction
- Barriers to Entry
- Monopoly Demand
- Output and Price Deterrmination
- Effects of Monopoly
- Price Discrimination
- Regulated Monopoly
- De Beers' Diamonds: Are Monopolies Forever?
- 25 Price and Output Determination: Monopolistic Competition 506
- Monopolistic Competition: Concept and Occurrence
- Price and Output Determination
- Monopolistic Competition and Economic Inefficiency
- Nonprice Competition
- The Economics of Advertising
- Monopolistic competition and economic analysis
- The Market for Principles of Economics Textbooks
- 26 Price and Output Determination: Oligopoly 520
- Oligopoly: Concept and Occurrence
- Oligopoly Behavior: A Game Theory Overview
- Four Oligopoly Models
- Oligopoly and Economic Efficiency
- Automobiles: A Case Study
- The Beer Industry: Oligopoly Brewing?
- Part 6 Microeconomics of Resource Markets
- 27 Production and the Demand for Resources 541
- Significance of Resource Pricing
- Complexities of Resource Pricing
- Marginal Productivity Theory of Resource Demand
- Determinants of Resource Demand
- Elasticity of Resource Demand
- Optimal Combination of Resources
- Marginal Productivity Theory of Income Distribution
- Input Substitution: The Case of Cabooses
- 28 The Pricing And Employment of Resources: Wage Determination 558
- Meaning of Wages
- General Level of Wages
- Wages in Particular Labor Markets
- Wage Differentials
- Pay and Performance
- Pay and Performance in Professional Baseball
- 29 The Pricing and Employment of Resources: Rent, Interest, and Profits 579
- Economic Rent
- Interest
- Economic Profits
- Income
- Shares
- Determining the Price of Credit
- Part 7 Government and Current Economic Problems
- 30 Government and Market Failure: Public Goods, the Environment, and Information Problems 595
- Public Goods: Extending the Analysis
- Externalities Revisited
- Pollution: A Closer Look
- Information Failures
- Used Cars: The Market for "Lemons"
- 31 Public Choice Theory and Texation 618
- Revealing Preferences through Majority Voting
- Public Sector Failure
- Apportioning the Tax Burden
- Tax Incidence and Efficiency Loss
- Tax Reform
- The Issue of Freedom
- "Public Sector Failure" in the News
- 32 Antitrust, Regulation, and Industrial Policy 639
- Industrial Concentration: Definitions
- Industrial Concentration: Beneficial or Harmful?
- The Antitrust Laws
- Antitrust: Issues and Impact
- Natural Monopolies and Their Regulation
- Deregulation
- Social Regulation
- Industrial Policy
- Deregulation of the Airlines
- 33 Agriculture: Economics and Policy 660
- Economics of Agriculture
- Economics of Farm Policy
- Criticisms of Farm Policy
- The Politics of Farm Policy
- World Trade and Farm Policy
- Global View: Feast or Famine?
- The Sugar Program: A Sweet Deal
- 34 Income Inequality and Poverty 678
- Income Inequality: Some Facts
- Two Adjustments
- Government and Redistribution
- Causes of Income Inequality
- Equality versus Efficiency
- The Dismal Economics of Poverty
- The Income Maintenance System
- Reform Proposals
- Welfare for the Rich
- 35 The Economics of Health Care 698
- The Health Care Industry
- Twin Problems: Costs and Access
- Rising Health Care Costs
- Limited Access: The Uninsured
- Why the Rapid Rise in Costs?
- Reforming the Health Care System
- Health Care Reform: Physicians versus Economists
- 36 Labor-Market Issues: Unionism, Discrimination, and Immigration 716
- Unionism in America
- Unionism's Decline
- Collective Bargaining
- Economic Effects of Unions
- Discrimination
- Immigration
- Racism in Professional Basketball?
- Part 8 International Economics and the World Economy
- 37 International Trade 737
- Facts of International Trade
- The Economic Basis for Trade
- Comparative Advantage: Graphical Analysis
- Supply and Demand Analysis of Exports and Imports
- Trade Barriers
- The Case for Protection: A Critical Review
- Costs of Protectionism
- American International Trade Policy
- Petition of the Candlemakers, 1845
- 38 Exchange Rates, the Balance of Payments, and Trade Deficits 761
- Financing International Trade
- The International Balance of Payments
- Freely Floating Exchange Rates
- Fixed Exchange Rates
- International Exchange Rate Systems
- Recent United States Trade Deficits
- Speculation in Currency Markets
- 39 Growth and the Less Developed Countries 788
- The Rich and the Poor
- Breaking the Poverty Barrier
- The Vicious Circle
- Role of Government
- Role of Advanced Nations
- The LDC Debt Crisis
- Toward a New Global Compact
- Famine in Africa
- 40 Russia: an Economy in Transition 811
- Ideology and Institutions
- Central Planning and Its Problems
- Communism's Failures
- Transition to a Market System
- A Progress Report
- Future Prospects
- China: Emerging Economic Superpower?.
- Notes:
- Includes bibliographical references and index.
- ISBN:
- 0070468141
- OCLC:
- 32312202
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