Publisher's Synopsis
Fundamentals of Economics: A Book of Readings provides students with an engaging collection of articles that introduce them to key concepts and ideas in economics.The opening chapter features readings that define economics and provide students with key definitions and an overview of basic concepts within the field. Additional chapters address basic macro concepts, demand and supply, elasticity, production and cost, pure competition, pure monopoly, monopolistic competition, and oligopoly. Students learn about social accounting systems, economic fluctuations and unemployment, price fluctuations, and the aggregate demand and aggregate supply macro model. Closing chapters cover fiscal policy, the public sector, and money and federal reserve system.The readings in each chapter draw upon real-world examples to demonstrate principles of economics in action. Students read about galloping oil prices, the current demand for nursing professionals, the evolution of the Toyota production system, the economic value of celebrity endorsements, the economics of a cartel, and more.Featuring salient and intriguing readings that demonstrate the application of key concepts, Fundamentals of Economics is an ideal resource for foundational courses in the discipline.
