Principles of Economics

Course description

1. Thinking Like an Economist. 2. Comparative Advantage: The Basis for Exchange. 3. Supply and Demand: An Introduction. 4. Elasticity. 5. Demand: The Benefit Side of the Market. 6. Perfectly Competitive Supply: The Cost Side of the Market. 7. Efficiency and Exchange. 8. The Quest for Profit and the Invisible Hand. 9. Monopoly and Other Forms of Imperfect Competition. 10. Thinking Strategically. 11. Externalities and Property Rights. 12. The Economics of Information. 13. Labor Markets, Poverty, and Income Distribution. 14. The Environment, Health, and Safety. 15. Public Goods and Tax Policy. 16. International Trade and Trade Policy. 17. Macroeconomics: The Birdís-Eye View of the Economy. 18. Measuring Economic Activity: GDP and Unemployment. 19. Measuring the Price Level and Inflation. 20. Economic Growth, Productivity, and Living Standards. 21. Workers, Wages, and Unemployment in the Modern Economy. 22. Saving and Capital Formation. 23. Money, Prices, and the Federal Reserve. 24. Financial Markets and International Capital Flows. 25. Short-Term Economic Fluctuations: An Introduction. 26. Spending and Output in the Short Run. 27. Stabilizing the Economy: The Role of the Fed. 28. Inflation and Aggregate Supply. 29. Exchange Rates and the Open Economy.


Robert H. Frank and Ben S. Bernanke, Principles of Economics, McGraw-Hill, 2004.

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