The economy is always changing, but some things are eternal! Economics for Dummies, Third Edition, gives you everything you need to understand our rapidly evolving economy as well as the basics that never change. What's the best way to fight poverty? How can governments boost employment and wage growth? What can be done to protect endangered species and the environment? This book answers all of those questions in simple language while tracking with a traditional introductory economics class. Following in the steps of the first and second editions, the thoroughly updated Third Edition is a…mehr
The economy is always changing, but some things are eternal! Economics for Dummies, Third Edition, gives you everything you need to understand our rapidly evolving economy as well as the basics that never change. What's the best way to fight poverty? How can governments boost employment and wage growth? What can be done to protect endangered species and the environment? This book answers all of those questions in simple language while tracking with a traditional introductory economics class. Following in the steps of the first and second editions, the thoroughly updated Third Edition is a useful study guide and supplement to any high school or college level economics class. Discover the ins and outs of irrational consumers. Understand and apply the most powerful tool in economics: the model of supply and demand. Understand the origins and aftermath of financial crises, and more. Economics for Dummies has supplied hundreds of thousands of students with an approachable reference book while also providing an informational outlet for anyone curious about how businesses, consumers, and governments interact to produce and distribute all the goods and services that we enjoy today.
Sean Masaki Flynn, PhD, is an associate professor of economics at Scripps College in Claremont, California. A specialist in behavioral economics, Dr. Flynn has provided economic commentary for numerous news outlets, including NPR, ABC, Fox Business, and Forbes.
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Introduction 1
Part1: Economics: The Science of How People Deal with Scarcity 5
Chapter 1: What Economics Is and Why You Should Care 7
Chapter 2: Cookies or Ice Cream? Exploring Consumer Choices 23
Chapter 3: Producing Stuff to Maximize Happiness 37
Part 2: Microeconomics: The Science of Consumer and Firm Behavior 59
Chapter 4: Supply and Demand Made Easy 61
Chapter 5: Introducing Homo Economicus, the Utility-Maximizing Consumer 87
Chapter 6: The Core of Capitalism: The Profit-Maximizing Firm 105
Chapter 7: Why Economists Love Free Markets and Competition 129
Chapter 8: Monopolies: Bad Behavior When Competition Is Lacking 155
Chapter 9: Oligopoly and Monopolistic Competition: Middle Grounds 177
Part 3: Applying the Theories of Microeconomics 195
Chapter 10: Property Rights and Wrongs 197
Chapter 11: Asymmetric Information and Public Goods 209
Chapter 12: Internet Economics: Networks and Platforms 225