Screen LibraryEconomics, private and public choice /
Economics: Private and Public Choice is an aid for students and general readers to develop a sound economic reasoning. The book discusses several ways to economic thinking including six guideposts as follows: (i) scarce goods have costs; (ii) Decision-makers economize in their choices; (iii) Incenti...
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| Main Authors: | |
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| Corporate Authors: | |
| Published: |
Academic Press,
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| Publisher Address: | New York : |
| Publication Dates: |
[1976] ©1976 |
| Literature type: | eBook |
| Language: | English |
| Subjects: | |
| Online Access: |
http://www.sciencedirect.com/science/book/9780123110503 |
| Summary: |
Economics: Private and Public Choice is an aid for students and general readers to develop a sound economic reasoning. The book discusses several ways to economic thinking including six guideposts as follows: (i) scarce goods have costs; (ii) Decision-makers economize in their choices; (iii) Incentives are important; (iv) Decision-makers are dependent on information scarcity; (v) Economic actions can have secondary effects; and (vi) Economic thinking is scientific. The book explains the Keynesian view of money, employment, and inflation, as well as the monetarist view on the proper macropoli |
| Carrier Form: | 1 online resource (xxi, 656 pages) : illustrations |
| Bibliography: | Includes bibliographical references (pages 631-637) and index. |
| ISBN: |
9781483264301 1483264300 |
| Index Number: | HB171 |
| CLC: | F0 |
| Contents: |
Front Cover; Economics: Private and Public Choice; Copyright Page; Table of Contents; Suggested Outlines for One-Semester Courses; PREFACE; ACKNOWLEDGMENTS; PART I: THE ECONOMIC WAY OF THINKING-AN INTRODUCTION; CHAPTER 1. THE ECONOMIC APPROACH; WHAT IS ECONOMICS ABOUT?; MAN'S LOSING STRUGGLE WITH SCARCITY; THE ECONOMIC WAY OF THINKING; NORMATIVE AND POSITIVE ECONOMICS; LOOKING FOR ACTION?-TRY ECONOMICS; CHAPTER LEARNING OBJECTIVES; IMPORTANT TERMS TO REMEMBER; THE ECONOMIC WAY OF THINKING-DISCUSSION QUESTIONS; CHAPTER 2. SOME TOOLS OF THE ECONOMIST. Opportunity cost is the highest valued opportunity lostthe production possibilities curve; trade tips and comparative advantage; dependence, specialization, and exchange; three economizing decisions facing all nations: what, how, and for whom; two methods of making decisions-the market and government planning; looking ahead; chapter learning objectives; important terms to remember; the economic way of thinking-discussion questions; chapter 3. market decisions and the market process; scarcity necessitates rationing; consumer choice and the law of demand; producer's choice and the law of suppl Price and market equilibriumshifts in demand and advice on how to pass your first economics exam; shifts in supply; time and the adjustment process; supply and demand in action; repealing the laws of supply and demand; rationing and motivating, the two great attributes of the market; looking ahead; chapter learning objectives; important terms to remember; the economic way of thinking-discussion questions; chapter 4. a bird's-eye view of the public sector; ideal economic efficiency; why might the invisible hand fail?; government-a potential vehicle for gain. Redistribution-dividing the economic piethe market and the public sector-two methods of economic organization; conflicts between good economics and good politics; looking ahead; chapter learning objectives; important terms to remember; the economic way of thinking-discussion questions; chapter 5. taxes and government spending; what do federal, state, and local governments buy?; sources of tax revenues; the concept of incidence; who pays the tax bill?; the taxes others paid; looking ahead; chapter learning objectives; important terms to remember. The economic way of thinking-discussion questionspart ii: macroeconomics; chapter 6. taking the nation's economic pulse; the concept of the gnp; two ways of measuring gnp; gross national product or gross national cost?; five problems with gnp as a measuring rod; what the gnp does not measure; the great contribution of gnp; other related income measures; looking ahead; chapter learning objectives; important terms to remember; the economic way of thinking-discussion questions; chapter 7. unemployment, inflation, and business cycles; swings in the economic pendulum; a hypothetical business cycl |