How to Use the Study Guide to Learn Economics ix

PART ONE: Introduction to Economics and the Economy

1 Limits, Alternatives, and Choices 1

2 The Market System and the Circular Flow 19

3 Demand, Supply, and Market Equilibrium 29

4 The U.S. Economy: Private andPublic Sectors 41

5 The United States in the Global Economy 51

PART TWO: Macroeconomic Measurement and Basic Concepts

6 Measuring Domestic Output andNational Income 63

7 Introduction to Economic Growthand more >>

How to Use the Study Guide to Learn Economics ix

PART ONE: Introduction to Economics and the Economy

1 Limits, Alternatives, and Choices 1

2 The Market System and the Circular Flow 19

3 Demand, Supply, and Market Equilibrium 29

4 The U.S. Economy: Private andPublic Sectors 41

5 The United States in the Global Economy 51

PART TWO: Macroeconomic Measurement and Basic Concepts

6 Measuring Domestic Output andNational Income 63

7 Introduction to Economic Growthand Instability 75

8 Basic Macroeconomic Relationships 85

PART THREE: Macroeconomic Models and Fiscal Policy

9 The Aggregate Expenditures Model 95

10 Aggregate Demand and Aggregate Supply 107

11 Fiscal Policy, Deficits, and Debt 121

PART FOUR: Money, Banking, and Monetary Policy

12 Money and Banking 133

13 Money Creation 141

14 Interest Rates and Monetary Policy 151

14 W Financial Economics(WEB CHAPTER, www.mcconnell17.com) 165

PART FIVE: Long-Run Perspectives and Macroeconomic Debates

15 Extending the Analysis of AggregateSupply 175

16 Economic Growth 187

16 W The Economics of Developing Countries(WEB CHAPTER, www.mcconnell17.com) 197

17 Disputes over Macro Theory and Policy 207

PART SIX: Microeconomics of Product Markets

18 Extensions of Demand andSupply Analysis 217

19 Consumer Behavior and UtilityMaximization 229

20 The Costs of Production 245

21 Pure Competition 257

22 Pure Monopoly 271

23 Monopolistic Competition and Oligopoly 283

24 Technology, R&D, and Efficiency 297

PART SEVEN: Microeconomics of Resource Markets

25 The Demand for Resources 307

26 Wage Determination 317

27 Rent, Interest, and Profit 329

27 W Natural Resource and Energy Economics(WEB CHAPTER, www.mcconnell17.com) 339

PART EIGHT: Microeconomics of Government

28 Government and Market Failure 351

29 Public Choice Theory and theEconomics of Taxation 363

PART NINE: Microeconomic Issues and Policies

30 Antitrust Policy and Regulation 373

31 Agriculture: Economics and Policy 383

32 Income Inequality and Poverty 393

33 The Economics of Health Care 405

34 Labor Market Institutions and Issues:Unionism, Discrimination, Immigration 415

PART TEN: International Economics

35 International Trade 427

36 Exchange Rates, the Balance ofPayments, and Trade Deficits 439

Glossary 451 << less