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Economics

Economics is the systematic study of how individuals, businesses, and societies make choices in the face of scarcity. This textbook provides a comprehensive introduction to the principles, theories, and applications of economics, combining both microeconomic and macroeconomic perspectives to give students a full understanding of economic behavior and outcomes.

EconomicsSocial Sciences
Author
Boundless
Publisher
Boundless
Source
LibreTexts
License
CC BY-SA
Language
EN
Category
Economics
Read online Download PDF (open licence)
Contents· 138 sections
  1. 01: Principles of Economics
  2. 1.01: The Study of Economics
  3. 1.02: Individual Decision Making
  4. 1.03: Interaction of Individuals Firms and Societies
  5. 1.04: Basic Economic Questions
  6. 1.05: Economic Models
  7. 1.06: Differences Between Macroeconomics and Microeconomics
  8. 02: The Market System
  9. 2.01: Introducing the Market System
  10. 03: Introducing Supply and Demand
  11. 3.01: Demand
  12. 3.02: Supply
  13. 3.03: Market Equilibrium
  14. 3.04: Government Intervention and Disequilibrium
  15. 04: Economic Surplus
  16. 4.01: Consumer Surplus
  17. 4.02: Producer Surplus
  18. 05: Consumer Choice and Utility
  19. 5.01: The Demand Curve and Utility
  20. 5.02: Theory of Consumer Choice
  21. 06: Elasticity and its Implications
  22. 6.01: Price Elasticity of Demand
  23. 6.02: Other Demand Elasticities
  24. 6.03: Price Elasticity of Supply
  25. 07: Market Failure- Externalities
  26. 7.01: Introducing Market Failure
  27. 7.02: Externalities in Depth
  28. 7.03: Government Policy Options
  29. 7.04: Private Solutions
  30. 08: Market Failure- Public Goods and Common Resources
  31. 8.01: Public Goods
  32. 8.02: Common Resources
  33. 09: Production
  34. 9.01: The Production Function
  35. 9.02: Production Cost
  36. 9.03: Economic Profit
  37. 10: Competitive Markets
  38. 10.01: Perfect Competition
  39. 10.02: Production Decisions in Perfect Competition
  40. 10.03: Long-Run Outcomes
  41. 11: Monopoly
  42. 11.01: Introduction to Monopoly
  43. 11.02: Barriers to Entry- Reasons for Monopolies to Exist
  44. 11.03: Monopoly Production and Pricing Decisions and Profit Outcome
  45. 11.04: Impacts of Monopoly on Efficiency
  46. 11.05: Price Discrimination
  47. 11.06: Monopoly in Public Policy
  48. 12: Monopolistic Competition
  49. 12.01: Monopolistic Competition
  50. 13: Oligopoly
  51. 13.01: Prerequisites of Oligopoly
  52. 13.02: Oligopoly in Practice
  53. 14: Inputs to Production- Labor Natural Resources and Technology
  54. 14.01: Demand for Labor
  55. 14.02: Labor Market Equilibrium and Wage Determinants
  56. 14.03: Income Distribution
  57. 14.04: Capital and Natural Resource Markets
  58. 14.05: Capital Productivity and Technology
  59. 15: Challenges to Efficient Outcomes
  60. 15.01: Sources of Inefficiency
  61. 16: Taxes and Public Finance
  62. 16.01: Introduction to Taxes What Taxes Do
  63. 16.02: Deploying and Measuring Taxes
  64. 16.03: Progressive Proportional and Regressive Taxes
  65. 16.04: Taxation in the United States
  66. 16.05: Personal Property and Sales Taxes
  67. 17: Income Inequality and Poverty
  68. 17.01: Defining and Measuring Inequality Mobility and Poverty
  69. 17.02: Policies for Reducing Poverty
  70. 18: Introduction to Macroeconomics
  71. 18.01: Key Topics in Macroeconomics
  72. 19: Measuring Output and Income
  73. 19.01: Measuring Output Using GDP
  74. 19.02: Other Measures of Output
  75. 19.03: Comparing Real and Nominal GDP
  76. 19.04: Cost of Living
  77. 20: Economic Growth
  78. 20.01: Comparing Economies
  79. 20.02: Assessing Growth
  80. 20.03: Productivity
  81. 20.04: Long-Run Growth
  82. 20.05: The Impact of Policy on Growth
  83. 21: Inflation
  84. 21.01: Defining Measuring and Assessing Inflation
  85. 22: Unemployment
  86. 22.01: Introduction to Unemployment
  87. 22.02: Measuring Unemployment
  88. 22.03: Understanding Unemployment
  89. 23: Inflation and Unemployment
  90. 23.01: The Relationship Between Inflation and Unemployment
  91. 24: Aggregate Demand and Supply
  92. 24.01: Introducing Aggregate Expenditure
  93. 24.02: Introducing Aggregate Demand and Aggregate Supply
  94. 24.03: Aggregate Demand
  95. 24.04: Aggregate Supply
  96. 24.05: The Aggregate Demand-Supply Model
  97. 25: Major Macroeconomic Theories
  98. 25.01: Major Theories in Macroeconomics
  99. 26: Fiscal Policy
  100. 26.01: Introduction to Fiscal Policy
  101. 26.02: Evaluating Fiscal Policy
  102. 27: The Monetary System
  103. 27.01: Introducing Money
  104. 27.02: Introducing the Federal Reserve
  105. 27.03: Creating Money
  106. 28: Monetary Policy
  107. 28.01: Introduction to Monetary Policy
  108. 28.02: Monetary Policy Tools
  109. 28.03: Impacts of Federal Reserve Policies
  110. 28.04: Historical Federal Reserve Policies
  111. 29: The Financial System
  112. 29.01: Introducing the Financial System
  113. 29.02: Tools of Finance
  114. 30: Current Topics in Macroeconomics
  115. 30.01: Questions for Debate
  116. 31: International Trade
  117. 31.01: Introduction to International Trade
  118. 31.02: Gains from Trade
  119. 31.03: The United States in the Global Economy
  120. 31.04: Barriers to Trade
  121. 31.05: Arguments for and Against Protectionist Policy
  122. 32: Open Economy Macroeconomics
  123. 32.01: Capital Flows
  124. 32.02: Exchange Rates
  125. 32.03: Equilibrium
  126. 33: Economic Crises
  127. 33.01: Fundamentals of Banking Crises
  128. 33.02: Economic Crises
  129. 34: Interest and Profit
  130. 34.01: Interest
  131. 35: Health Care Economics
  132. 35.01: Introducing Health Care Economics
  133. 36: Natural Resource Economics
  134. 36.01: Introduction to Natural Resource Economics
  135. 37: Agriculture Economics
  136. 37.01: Introduction to the Agriculture Economics
  137. 38: Immigration Economics
  138. 38.01: Introduction to Immigration Economics