Principles of Economics in a Nutshell
Cover -- Half Title -- Epigraph -- Title Page -- Copyright Page -- Contents -- List of figures -- List of tables -- Preface -- Chapter 1 More than just the stock market: introduction to economics -- 1.1 Economics as a social science -- 1.2 On the scientific character of economics, ideology, and perspectives -- 1.3 Concept of economic system -- 1.4 Founders of modern economics -- 1.5 Alternative economic paradigms: feminist and ecological economics -- Chapter 2 Not in the Garden of Eden: scarcity and tradeoffs -- 2.1 Scarcity and inevitable trade-off among activities -- 2.2 Production Possibility Frontier (PPF) and opportunity cost -- 2.3 A special case of PPF: the budget constraint -- Chapter 3 Led by an invisible hand: the market -- 3.1 Markets: a general introduction -- 3.2 Market demand -- 3.3 Market supply -- 3.4 Price adjustment mechanism (market mechanism) -- 3.5 Government interventions: price floors and price ceilings -- 3.6 Market failures: public goods and externalities -- 3.7 Price elasticity of demand: sensitivity of the quantity demanded of a good to its own price -- 3.8 Income elasticity of demand -- Chapter 4 Inside the magic box: productivity, costs, and profit maximization -- 4.1 Introduction to the Neoclassical firm: production function -- 4.2 Short-run vs. long-run in production -- 4.3 Short-run profit maximization: concepts of economic and normal profits -- 4.4 A survey of market structures -- 4.5 Total revenues for the perfectly competitive firm -- 4.6 Building block of short-run cost analysis: marginal productivity of labor -- 4.7 Short-run cost functions -- 4.8 Profit maximization in perfect competition (short-run) -- 4.9 Profit maximization in monopoly -- Chapter 5 Understanding the wealth of nations: national income accounting -- 5.1 Circular flows and fundamental macroeconomic identities.