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.