Economics: The Basics provides a fascinating introduction to the key issues in contemporary economics. With case studies ranging from the coffee plantations of El Salvador to the economic slowdown in Japan, it addresses questions such as whether increasin

Economics: The Basics provides a fascinating introduction to the key issues in contemporary economics. With case studies ranging from the coffee plantations of El Salvador to the economic slowdown in Japan, it addresses questions such as whether increasing wealth for some always means increasing poverty for others, and whether producing more food for humankind means we drive other species to extinction. Comprehensive and easy to read, it is essential reading for anyone who wants to understand how economics works and why it is important.Concise Blurb :Economics: The Basics provides a fascinating introduction to the key issues in contemporary economics. With case studies ranging from the coffee plantations of El Salvador to the international oil industry and the economic slowdown in Japan, it addresses fundamental issues such as:A· Whether economic growth is always bad for the environmentA· What impact multinational companies and the WTO have on developing countriesA· How price, markets, supply and demand interact across the worldA· How money comes to have worth, and how this can be regulatedA· How unemployment affects inflationComprehensive and easy to read, this accessible guidebook is essential reading for anyone who wants to understand how economics works and why it is important. EEn ......Page 1 Economics: The Basics......Page 2 Copyright Info......Page 6 TABLE OF CONTENTS......Page 8 CHAPTER 1: WEALTH AND POVERTY......Page 9 THREE DECISION-MAKING SYSTEMS......Page 12 TRADITIONAL AGRICULTURE......Page 14 MARKET AGRICULTURE......Page 16 PLANNED AGRICULTURE......Page 17 EFFICIENCY AND EQUITY......Page 20 OPPORTUNITY COST......Page 24 THE MODERN, MIXED ECONOMY......Page 25 FURTHER READING......Page 28 CHAPTER 2: PRICES, MARKETS AND COFFEE......Page 30 THE PRICE MECHANISM......Page 31 Land and Transfer Earnings......Page 32 Mismatch Unemployment......Page 33 DEMAND, SUPPLY AND THE THEORY OF PRICE......Page 34 Consumer Equilibrium......Page 35 Market Demand......Page 41 Shifts in Demand......Page 43 Market Supply......Page 45 Shifts in Supply......Page 47 PRICE DETERMINATION: A CASE STUDY......Page 48 Summary......Page 54 FURTHER READING......Page 55 PRIVATE PROPERTY......Page 56 CAPITAL, INVESTMENT AND GROWTH......Page 57 The Law of Diminishing Returns......Page 58 Economies and Diseconomies of Scale......Page 60 A Shift in Average Costs......Page 62 COMPETITION, PRICES AND PROFITS......Page 63 Profit Maximisation under Perfect Competition......Page 64 MONOPOLY AND OLIGOPOLY......Page 69 Barriers to Entry......Page 70 Monopoly Demand......Page 73 Oligopolistic Rivalry......Page 76 Oligopoly Demand......Page 77 CONCLUSION......Page 82 FURTHER READING......Page 85 CHAPTER 4: INFLATION AND UNEMPLOYMENT – BOOM AND BUST......Page 86 THE FALLACY OF COMPOSITION......Page 87 THE CIRCULAR FLOW MODEL......Page 88 Booms and Slumps......Page 93 THE CONTINUING DEBATE......Page 101 THE CONTROVERSIAL CORRELATION......Page 104 THE SUPPLY-SIDE CONSENSUS......Page 107 Deregulate and Free-Up Trade......Page 109 De-Politicise Money......Page 110 MONETARIST, NEW CLASSICAL AND NEW KEYNESIAN DIFFERENCES......Page 113 CONCLUSION......Page 115 Summary......Page 117 FURTHER READING......Page 118 THE NATURE OF MONEY......Page 119 A Medium......Page 120 A Measure......Page 123 A Store......Page 124 THE FORMS OF MONEY......Page 125 COMMERCIAL BANKING......Page 126 THE CREATION OF MONEY......Page 128 CENTRAL BANKS AND THE MONEY SUPPLY......Page 130 THE DEMAND FOR MONEY......Page 133 The Precautionary Motive......Page 135 MONETARY POLICY WITH GLOBAL MARKETS......Page 137 The Transmission Mechanism......Page 138 Exchange Rates......Page 139 FINANCIAL CRISES......Page 141 Summary......Page 145 FURTHER READING......Page 146 CHAPTER 6: NATIONAL INCOME, WORLD TRADE AND MULTINATIONAL ENTERPRISE......Page 147 THE CIRCULAR FLOW OF INCOMES......Page 148 Import and Export Functions......Page 149 The Foreign Trade Multiplier......Page 151 THE BALANCE OF PAYMENTS......Page 153 Causes......Page 154 Devaluation......Page 158 The J-Curve Effect......Page 159 COMPARATIVE ADVANTAGE AND THE GAINS FROM TRADE......Page 161 Political Arguments......Page 166 Infant Industries......Page 167 ‘External’ Effects......Page 168 MULTINATIONAL COMPANIES......Page 170 Causes for Growth......Page 173 The Benefits of Multinational Enterprise......Page 176 The Disadvantages......Page 179 CONCLUSION......Page 180 Summary......Page 181 FURTHER READING......Page 182 CHAPTER 7: CAN WE REDUCE POVERTY AND PROTECT THE ENVIRONMENT?......Page 183 Physical Capital......Page 185 Technological Progress......Page 188 Endogenous Growth Theory......Page 190 Social Capital......Page 191 Policy Reforms......Page 193 New Institutional Economics......Page 196 Geography?......Page 200 CAN THE PLANET AFFORD IT?......Page 202 Market Failure......Page 206 EXTERNALITIES......Page 207 IMPERFECT INFORMATION......Page 208 SUSTAINABLE DEVELOPMENT......Page 209 Exhaustible Resources......Page 210 Renewable Resources......Page 211 MARKETS AND GOVERNMENT......Page 212 Summary......Page 213 FURTHER READING......Page 214 GLOSSARY......Page 215 Economics: The Basics provides a fascinating introduction to the key issues in contemporary economics. With case studies ranging from the coffee plantations of El Salvador to the economic slowdown in Japan, it addresses questions such as whether increasing wealth for some always means increasing poverty for others, and whether producing more food for humankind means we drive other species to extinction. Comprehensive and easy to read, it is essential reading for anyone who wants to understand how economics works and why it is important. Concise Blurb :Economics: The Basics provides a fascinating introduction to the key issues in contemporary economics. With case studies ranging from the coffee plantations of El Salvador to the international oil industry and the economic slowdown in Japan, it addresses fundamental issues such as:· Whether economic growth is always bad for the environment· What impact multinational companies and the WTO have on developing countriesA· How price, markets, supply and demand interact across the world· How money comes to have worth, and how this can be regulated· How unemployment affects inflation Comprehensive and easy to read, this accessible guidebook is essential reading for anyone who wants to understand how economics works and why it is important.

now In Its Second Edition, economics: The Basics Provides An Engaging And Topical Introduction To The Key Issues In Contemporary Economics. Fully Updated To Take Into Account The Economic Recession, Changing Patterns In World Trade, Housing And Currency Markets, This Book Covers Fundamental Issues, Including:

• how Different Economic Systems Function
• the Boom And Bust Cycle Of Market Economies
• the Impact Of Emerging Markets
• how Price, Supply And Demand Interact
• the Role Of The Banking And Finance Industry
• whether We Can Emerge From Recession And Reduce Poverty
• the Impact Of Economics On The Environment

with A Glossary Of Terms, Suggestions For Further Reading And New Case Studies Covering Subjects Including The Sub-prime Mortgage Crisis, Changing Commodity Prices And Speculative Bubbles, This Comprehensive And Accessible Guide Is Essential Reading For Anyone Who Wants To Understand How Economics Works.

Economics: The Basics provides a fascinating introduction to the key issues in contemporary economics. With case studies ranging from the coffee plantations of El Salvador to the international oil industry and the economic slowdown in Japan, it addresses fundamental questions such as: •Must increasing wealth for some mean increasing poverty for others? •Does producing more food for humankind mean we drive other species to extinction? •Is it true that, if we buy less coffee, farm incomes from Brazil to Kenya take a beating? •Is granting people property rights the best way to preserve fish and wildlife stocks? •Do we really have to choose between low unemployment and low inflation? Comprehensive and easy to read, this accessible guidebook is essential reading for anyone who wants to understand how economics works and why it is important. Wealth And Poverty -- Prices, Markets And Coffee -- The Business Of Supply -- Inflation And Unemployment : Boom And Bust -- Money, Banks, Bubbles And Crises -- National Income, World Trade And Multinational Enterprise -- Can We Reduce Poverty And Protect The Environment? Tony Cleaver. Offering an introduction to key issues in contemporary economics, this volume includes case studies ranging from coffee plantations in El Salvador to the international oil industry & the economic slowdown of Japan