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Essentials of Economics in Context [Mīkstie vāki]

(Tufts University, USA.), (La Trobe University, Australia.), (Global Development and Environment Institute, Tufts University, USA), (Tufts University, USA.), (Tufts Unversity, USA.)
  • Formāts: Paperback / softback, 634 pages, height x width: 254x178 mm, weight: 1329 g, 57 Tables, black and white; 155 Line drawings, black and white; 155 Illustrations, black and white
  • Izdošanas datums: 20-Jul-2020
  • Izdevniecība: Routledge
  • ISBN-10: 0367245477
  • ISBN-13: 9780367245474
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Essentials of Economics in ContextPalielināt
  • Formāts: Paperback / softback, 634 pages, height x width: 254x178 mm, weight: 1329 g, 57 Tables, black and white; 155 Line drawings, black and white; 155 Illustrations, black and white
  • Izdošanas datums: 20-Jul-2020
  • Izdevniecība: Routledge
  • ISBN-10: 0367245477
  • ISBN-13: 9780367245474
Citas grāmatas par šo tēmu:
Permanent link: https://www.kriso.lv/db/9780367245474.html
Keywords:
Essentials of Economics in Context is specifically designed to meet the requirements of a one-semester introductory economics course that provides coverage of both microeconomic and macroeconomic foundations. It addresses current economic challenges, paying specific attention to issues of inequality, globalization, unpaid work, technology, financialization, and the environment, making the text a genuinely twenty-first century introduction to economics.

Aspects of history, institutions, gender, ethics, and ecology are integrated throughout the text, and economic analysis is presented within broader themes of human well-being, and social and environmental sustainability. Theoretical expositions in the text are kept close to reality by integrating numerous real-world examples and by presenting the material in the recognized accessible and engaging style of this experienced author team.

Key features of Essentials of Economics in Context include:

an inclusive approach to economics, where the economy is analyzed within its social and environmental context

an innovative chapter examining data on various economic indicators

focus on goals of human well-being, stability, and sustainability, and inclusion of core and public

purpose spheres, instead of solely focusing on market activities





a wealth of online materials such as slides, test banks, and answers to exercises in the book

This text is the ideal resource for one-semester introductory economics courses globally.

The book's companion website is available at: http://www.bu.edu/eci/education-materials/textbooks/essentials-of-economics-in-context/
List of Figures
xiii
List of Tables
xvii
List of Boxes
xviii
Preface xx
Acknowledgments xxviii
Sample Course Outlines xxxi
Part I The Context For Economic Analysis
1(78)
0 Economics And Well-Being
3(18)
1 Economic Activity In Context
21(25)
1 Our Starting Point
21(2)
2 The Goals Of An Economy
23(8)
2.1 Traditional Economic Goals
24(2)
2.2 Moving Beyond The Traditional Goals
26(5)
3 The Issues That Define Economics
31(5)
3.1 The Four Essential Economic Activities
31(4)
3.2 The Three Basic Economic Questions
35(1)
4 Economic Tradeoffs
36(10)
4.1 Society's Production-Possibilities Frontier
37(3)
4.2 Tradeoffs Over Time
40(6)
2 Foundations Of Economic Analysis
46(33)
1 Our Tools For Understanding
46(5)
1.1 Empiricism
46(3)
1.2 Rationalism
49(1)
1.3 Theory And Evidence
50(1)
2 Different Economic Theories: Examples Of Two Basic Models
51(10)
2.1 The Basic Neoclassical Model
52(1)
2.2 The Contextual Model
53(8)
3 The Role Of Markets
61(18)
3.1 The Meaning Of Markets
61(1)
3.2 The Institutional Requirements Of Markets
62(4)
3.3 Infrastructure For Flow Of Goods And Information
66(1)
3.4 Types Of Markets
67(2)
3.5 The Advantages And Limitations Of Markets
69(4)
3.6 Assessing Market Outcomes
73(6)
Part II Microeconomic Analysis: Consumption, Production, And Markets
79(164)
3 Supply And Demand
81(33)
1 Introduction To The Microeconomic Market Model
81(2)
2 The Theory Of Supply
83(5)
2.1 The Supply Schedule And Supply Curve
83(2)
2.2 Changes In Supply
85(3)
3 The Theory Of Demand
88(5)
3.1 The Demand Schedule And Demand Curve
88(2)
3.2 Changes In Demand
90(3)
4 The Theory Of Market Adjustment
93(8)
4.1 Surplus, Shortage, And Equilibrium
93(2)
4.2 Market Forces And Other Considerations
95(1)
4.3 Shifts In Supply And Demand
96(5)
5 Elasticity
101(6)
5.1 The Price Elasticity Of Demand
101(2)
5.2 Measuring Elasticity
103(1)
5.3 Elasticity And Revenues
104(1)
5.4 Price Elasticity Of Supply
105(1)
5.5 Income Elasticity Of Demand
106(1)
6 Topics In Market Analysis
107(7)
6.1 Real-World Prices
107(1)
6.2 Markets And Equity
108(1)
6.3 Scarcity And Inadequacy
109(5)
4 Consumption And Decision-Making
114(33)
1 Historical Perspectives On Economic Behavior
114(2)
1.1 Classical Economic Views Of Human Nature
114(1)
1.2 The Neoclassical Model
115(1)
2 The Neoclassical Theory Of Consumer Behavior
116(5)
2.1 Consumer Sovereignty
116(1)
2.2 The Budget Line
116(2)
2.3 Consumer Utility
118(3)
3 Modern Perspectives On Consumer Behavior
121(7)
3.1 Behavioral Economics And Rationality
122(1)
3.2 The Role Of Time, Emotions, And Other Influential Factors
123(3)
3.3 Consumer Behavior In Contextual Economics
126(2)
4 Consumption In Social Context
128(6)
4.1 Social Comparisons
129(2)
4.2 Advertising
131(1)
4.3 Private Versus Public Consumption
132(1)
4.4 Affluenza And Voluntary Simplicity
132(2)
5 Consumption In An Environmental Context
134(3)
5.1 The Link Between Consumption And The Environment
135(1)
5.2 Green Consumerism
136(1)
6 Policy Inferences From Our Model Of Consumer Behavior
137(10)
6.1 Predictable Irrationality And Nudges
137(2)
6.2 Consumption And Public Policy
139(8)
5 Production
147(26)
1 An Overview Of Production
147(3)
1.1 The Goals Of Production
147(2)
1.2 An Economic Perspective On Production
149(1)
2 Types Of Production Costs
150(4)
2.1 Fixed Versus Variable Costs
150(1)
2.2 Accounting Versus Economic Costs
151(2)
2.3 Private Versus External Costs
153(1)
3 The Production Function
154(6)
3.1 Thinking About Inputs And Outputs
154(2)
3.2 Graphing Production Functions
156(1)
3.3 Production In The Short Run
157(3)
4 Production Costs
160(13)
4.1 Production Costs In The Short Run
160(4)
4.2 Production Costs In The Long Run
164(3)
4.3 Production Process Choice
167(6)
6 Market Structure
173(36)
1 Understanding Market Power And Competition
173(3)
1.1 The Business Perspective On Competition And Market Power
174(1)
1.2 The Consumer Perspective On Competition And Market Power
174(1)
1.3 The Citizen Perspective On Competition And Market Power
175(1)
1.4 The Economists' Perspective On Competition And Market Power
175(1)
2 Perfect Competition
176(8)
2.1 The Conditions Of Perfect Competition
176(1)
2.2 Profit Maximization Under Perfect Competition
177(5)
2.3 Losses And Exit
182(2)
3 Pure Monopoly: One Seller
184(10)
3.1 The Conditions Of Monopoly
184(2)
3.2 Examples Of Monopoly
186(1)
3.3 Profit Maximization For A Monopolist
187(2)
3.4 Monopoly And Inefficiency
189(5)
4 Monopolistic Competition
194(2)
4.1 The Conditions Of Monopolistic Competition
194(1)
4.2 Profit Maximization With Monopolistic Competition
194(2)
4.3 Monopolistic Competition And Long-Run Efficiency
196(1)
5 Oligopoly
196(3)
5.1 Market Structure Of An Oligopolistic Industry
197(1)
5.2 Oligopoly And The Behavior Of Firms
197(1)
5.3 Examples Of Oligopoly
198(1)
6 Market Power, Efficiency, And Equity
199(10)
6.1 Market Inefficiencies
200(1)
6.2 Market Power And Politics
201(8)
7 Markets For Labor
209(34)
1 Economic Theory Of Labor Markets
209(7)
1.1 The Firm's Decision To Hire Labor
210(1)
1.2 The Individual's Decision To Supply Labor
211(2)
1.3 The Market Supply For Labor
213(1)
1.4 Market Demand Curves
214(1)
1.5 Market Adjustment
215(1)
2 Explaining Variations In Wages
216(9)
2.1 Wage Variations In The Neoclassical Labor Model
217(1)
2.2 Social Norms, Wage Regulations, And Bargaining Power
218(2)
2.3 Efficiency Wages And Dual Labor Markets
220(2)
2.4 Discrimination
222(3)
3 Special Issues For The Twenty-First Century
225(9)
3.1 Labor Force Participation Rates
225(2)
3.2 Labor Market Flexibility
227(1)
3.3 Labor Markets And Immigration
228(1)
3.4 Cooperatives
229(1)
3.5 Work-Life Balance
230(2)
3.6 Technological Change, Productivity, Work, And Leisure
232(2)
4 Labor Markets, Inequality, And Power
234(9)
Part III Macroeconomic Theory And Policy
243(164)
8 Macroeconomic Measurement
245(36)
1 An Overview Of National Accounting
245(2)
2 Gross Domestic Product
247(8)
2.1 Defining Gross Domestic Product
247(2)
2.2 Measuring Gross Domestic Product
249(3)
2.3 Nominal And Real Gross Domestic Product
252(3)
3 Key Macroeconomic Indicators: Gross Domestic Product Growth, Inflation, And Unemployment
255(9)
3.1 Gross Domestic Product Growth
255(1)
3.2 Price Indexes And Inflation Rates
255(4)
3.3 Measuring Employment And Unemployment
259(5)
4 Alternative Measures Of Economic Well-Being
264(17)
4.1 Why Gross Domestic Productis Not A Measure Of Well-Being
265(3)
4.2 A Broader View Of National Income Accounting
268(13)
9 Economic Fluctuations And Macroeconomic Theory
281(29)
1 The Business Cycle
281(9)
1.1 Stylized Facts
282(2)
1.2 Acloser Lookat Unemployment
284(2)
1.3 Acloser Look At Inflation
286(2)
1.4 A Stylized Business Cycle
288(2)
2 Macroeconomic Theories
290(6)
2.1 Simplifying Assumptions
290(1)
2.2 The Classical Model
291(5)
3 The Great Depression And Keynes
296(9)
3.1 The Keynesian Theory
297(3)
3.2 Persistent Unemployment And The Keynesian Labor Market Theory
300(2)
3.3 The Multiplier
302(2)
3.4 Comparing Classical And Keynesian Views
304(1)
4 Macroeconomic History And Recent Developments
305(5)
4.1 The Crisis Of The 1970S And Retreat From Keynesian Economics
305(1)
4.2 Macroeconomics For The Twenty-First Century
306(4)
10 Fiscal Policy
310(35)
1 The Government's Budget
310(10)
1.1 Understanding Taxes
311(5)
1.2 Federal Revenue And Outlays
316(4)
2 The Role Of Government Spending And Taxes
320(9)
2.1 A Change In Government Spending
320(1)
2.2 Taxes And Transfer Payments
321(2)
2.3 The Circular Flow With Government Spending And Taxes
323(1)
2.4 Expansionary And Contractionary Fiscal Policy
324(2)
2.5 Automatic Stabilizers And Discretionary Policy
326(3)
3 Policy Issues
329(3)
3.1 Crowding Out And Crowding In
329(2)
3.2 Different Multiplier Effects
331(1)
4 Debt And Deficits
332(13)
4.1 Deficits And The National Debt
333(1)
4.2 Government Debt: Potential Problems
334(3)
4.3 The Balanced Budget Debate
337(1)
4.4 Deficit Projections And Policy Responses
338(7)
11 Money And Monetary Policy
345(33)
1 Understanding Money
345(7)
1.1 Why Money?
345(2)
1.2 What Is Money?
347(1)
1.3 Types Of Money
348(2)
1.4 Measures Of Money
350(2)
2 The Banking System
352(3)
2.1 Commercial Banks
353(1)
2.2 The Federal Reserve System
354(1)
3 How Banks Create Money
355(6)
3.1 Commercial Banks And Money Creation
355(1)
3.2 How The Fed Creates Money
356(3)
3.3 Other Monetary Policy Tools
359(2)
4 The Theory Of Money, Interest Rates, And Aggregate Demand
361(7)
4.1 The Federal Funds Rate And Other Interest Rates
361(2)
4.2 Interest Rates And Investment
363(2)
4.3 Monetary Policy And Aggregate Demand
365(1)
4.4 The Liquidity Trap And Credit Rationing
366(2)
5 Theories Of Money And Policy Complexities
368(10)
5.1 The Quantity Equation
368(2)
5.2 Competing Theories
370(2)
5.3 Policy Complications
372(6)
12 Aggregate Supply, Aggregate Demand, And Inflation: Putting It All Together
378(29)
1 Aggregate Demand And Inflation
378(3)
1.1 The Aggregate Demand Curve
378(2)
1.2 Shifts Of The Aggregate Demandcurve: Spending And Taxation
380(1)
1.3 Shifts Of The Aggregate Demand Curve: Monetary Policy
380(1)
2 Capacity And The Aggregate Supply Curve
381(6)
2.1 The Aggregate Supply Curve
382(2)
2.2 Shifts Of The Aggregate Supply Curve: Inflationary Expectations
384(2)
2.3 Shifts Of The Aggregate Supply Curve: Supply Shocks
386(1)
3 Putting The Aggregate Supply/Aggregate Demand Model To Work
387(11)
3.1 An Economy In Recession
387(4)
3.2 An Overheated Economy
391(1)
3.3 Stagflation
392(2)
3.4 A Hard Line Against Inflation
394(1)
3.5 Technology And Globalization
395(3)
4 Competing Theories
398(9)
4.1 Classical Macroeconomics
399(1)
4.2 Keynesian Macroeconomics
400(7)
Part IV The Global Economy, Development, And Sustainability
407(149)
13 Financial Instability And Economic Inequality
409(35)
1 The 2007--2008 Financial Crisis
409(10)
1.1 Entering The Crisis
409(4)
1.2 The Collapse Of The Housing Bubble And Impacts Of The Crisis
413(3)
1.3 Policy Responses For Recovery
416(3)
2 Understanding Financial Instability
419(7)
2.1 The Financial System
419(2)
2.2 Deregulation And Financialization
421(3)
2.3 Theories Of Financial Instability
424(2)
3 The Creation Of An Unequal Society
426(9)
3.1 Trends In Inequality
426(3)
3.2 Causes Of Rising Inequality
429(5)
3.3 Consequences Of Inequality
434(1)
4 Policies To Promote Financial Stability And Greater Equality
435(9)
14 The Global Economy And Policy
444(35)
1 Trade, Specialization, And Productivity
444(1)
2 Gains From Trade
445(7)
2.1 Theory Of Comparative Advantage
445(5)
2.2 Factor Price Equalization
450(1)
2.3 Other Benefits Of Free Trade
451(1)
3 Drawbacks Of Free Trade
452(4)
3.1 Vulnerability And Lock-In
452(1)
3.2 Power Differentials
453(1)
3.3 Trade And The Environment
453(1)
3.4 Inequality And Other Social Impacts Of Trade
454(2)
4 Globalization And Policy
456(6)
4.1 Patterns Of Trade
456(1)
4.2 National Trade Policies
457(4)
4.3 International Trade Agreements
461(1)
5 Globalization And Macroeconomics
462(17)
5.1 The Trade Balance: Completing The Macroeconomic Picture
462(2)
5.2 International Finance
464(7)
5.3 The Balance Of Payments
471(8)
15 How Economies Grow And Develop
479(34)
1 Economic Growth And Development
479(8)
1.1 Standard Economic Growth Theory
480(1)
1.2 Experiences Of Economic Growth Around The World
481(2)
1.3 Defining Poverty
483(4)
2 Economic Development In The World Today
487(6)
2.1 Early Experiences Andtheories Of Development
487(3)
2.2 A Second Wave Of Development Theory
490(3)
3 Twenty-First Century Reconsiderations Of The Sources Of Economic Growth
493(8)
4 Inequality And Development
501(3)
4.1 International Data On Inequality
501(1)
4.2 Inequality And The Kuznets Hypothesis
502(1)
4.3 Inequality And Economic Well-Being
503(1)
5 Recent Perspectives And Sustainable Development Goals
504(2)
6 Different Kinds Of Economies
506(7)
16 Economics Of The Environment
513(43)
1 Overview Of Global Environmental Issues
514(6)
1.1 Global Population
515(1)
1.2 Nonrenewable Resources
516(1)
1.3 Renewable Resources
517(1)
1.4 Pollution And Wastes
517(2)
1.5 Climate Change: Science And Impacts
519(1)
2 Externalities
520(5)
2.1 Negative Externalities
520(4)
2.2 Positive Externalities
524(1)
3 Managing Common Property Resources And Public Goods
525(5)
3.1 Defining Common Property Resources And Public Goods
525(1)
3.2 Management Of Common Property Resources
526(2)
3.3 Management Of Public Goods
528(2)
4 Economic Growth Andthe Environment
530(7)
4.1 The Environmental Kuznets Curve Hypothesis
530(3)
4.2 Does Protecting The Environment Harm Employment And Economic Growth?
533(1)
4.3 Economic Perspectives On The Transition To A Sustainable Economy
534(3)
5 Policies For Sustainable Development
537(5)
5.1 Defining Sustainability
537(2)
5.2 Green Taxes And Subsidy Reform
539(2)
5.3 Green Macroeconomic Policies
541(1)
6 Climate Change: Economics And Policy
542(6)
6.1 Economic Analysis Of Climate Change
542(2)
6.2 Climate Change Policy
544(4)
7 Final Thoughts
548(8)
Glossary 556(21)
Index 577
Neva Goodwin is Distinguished Fellow at the Economics in Context Initiative at the Global Development Policy Center at Boston University, USA.

Jonathan M. Harris is Senior Research Associate at the Global Development and Environment Institute at Tufts University, USA.

Pratistha Joshi Rajkarnikar is Associate Director at the Economics in Context Initiative at the Global Development Policy Center at Boston University, USA.

Brian Roach is Director of the Theory and Education Program at the Tufts University Global Development and Environment Institute, and a lecturer at Tufts and Brandeis Universities, USA.

Tim B. Thornton is Senior Research Fellow at the Economics in Context Initiative at the Boston University Global Development Policy Center, USA, and Director of the School of Political Economy, Australia.