Principles of Economics Student Study Guide (3e)

Preface

Introduction

1.      Introducing Economics

Part A: Microeconomics
2.      Markets, demand and supply
3.      Markets in action
4.      Background to supply
5.      Profit maximisation
6.      Perfect competition and monopoly
7.      Imperfect competition
8.      Market failures and government policy
9.      Wages and the distribution of income

Part B: Macroeconomics
10.     Introduction to macroeconomics
11.     The determination of Gross Domestic Product
12.     Money and interest rates
13.     Inflation
14.     Macroeconomic policy

Part C: The global economy
15.     International trade
16.     Balance of payments and exchange rates

• Each chapter begins with a ‘Principal objective’ outlining the key points allowing students to check their understanding against the principal objective in the chapter.
• Chapter maps consist of tasks that students should be able to undertake when they have completed each chapter.
• Supplementary notes contain material that is additional to material in the textbook. These notes are intended to help students better understand key concepts introduced in the textbook
• Review questions contains questions designed to help student review the chapter in a more reflective way, by asking students to think about how you would make use of some of the key concepts in analysing economic problems.
• Each chapter contains multiple choice questions, designed to lead you through the material in each chapter, enabling students to assess their understanding and give practice in the application of economic theory to solving economic problems.
• Each chapter contains short-answer questions to help students to reinforce their learning and understanding of the material covered in the textbook.
• Each chapter contains problems and exercises to help students apply economic theory to solve economic problems. Many of the problems and exercises either provide you with some economic data or ask you to collect some economic data, which are then used to analyse a problem.
• Each chapter contains discussion topics and essay questions designed to get students thinking and debating the topic at hand.
• At the end of the chapter, answers are given for the review questions, multiple choice questions and short answer questions.