Economics plays a part in so many news topics-- both domestically and worldwide-- and the need to know the basics is becoming more and more important. Ideal for both the high school and college student, as well as armchair readers, Idiot's Guides: Economics offers an easy-to-understand exploration of this always-complex topic. Covering both microeconomics and macroeconomics, the book incorporates infographics and illustrations where appropriate to make concepts clear and easy to understand. Economics topics include:
- Benefits of Trade
- Supply and Demand
- Elasticity
- Government Intervention in Markets
- Market Efficiency
- Taxes and the Market
- International Trade
- Externalities
- Public Goods and Common Resources
- The Basics of the Tax System
- The Costs of Production
- Perfect Competition
- Monopoly
- Tracking the Economy
- Unemployment and Inflation
- Long-Run Economic Growth
- Savings, Investment Spending, and the Financial System
- Short-Run Economic Fluctuations
- Income and Expenditure
- Aggregate Demand and Aggregate Supply
- Stabilization Policy
- Fiscal Policy
- Money, Banking, and the Federal Reserve System
- Monetary Policy
- Inflation, Disinflation, and Deflation
In addition, such issues as global climate change. the environment, natural disaster recovery, and the social safety net are covered from an economic policy perspective. Terry Hillman earned a post-graduate diploma in economic principles from the University of London in 2007. She is an author and has been researching economic markets since 2004. Author home: Millwood, NY
