Economics

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