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Principles of Economics by OpenStax plus MCQ, Essay Questions & Key TermsPrinciples of Economics covers scope and sequence requirements for a two-semester introductory economics course. The authors take a balanced approach to micro- and macroeconomics, to both Keynesian and classical views, and to the theory and application of economics concepts. The text also includes many current examples, which are handled in a politically equitable way.
* Complete Textbook by OpenStax
* Multiple Choices Questions (MCQ)
* Essay Questions Flash Cards
* Key-Terms Flash Cards
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1. Welcome to Economics!
t1.1. What Is Economics, and Why Is It Important?
t1.2. Microeconomics and Macroeconomics
t1.3. How Economists Use Theories and Models to Understand Economic Issues
t1.4. How Economies Can Be Organized: An Overview of Economic Systems
2. Choice in a World of Scarcity
t2.1. How Individuals Make Choices Based on Their Budget Constraint
t2.2. The Production Possibilities Frontier and Social Choices
t2.3. Confronting Objections to the Economic Approach
3. Demand and Supply
t3.1. Demand, Supply, and Equilibrium in Markets for Goods and Services
t3.2. Shifts in Demand and Supply for Goods and Services
t3.3. Changes in Equilibrium Price and Quantity: The Four-Step Process
t3.4. Price Ceilings and Price Floors
t3.5. Demand, Supply, and Efficiency
4. Labor and Financial Markets
t4.1. Demand and Supply at Work in Labor Markets
t4.2. Demand and Supply in Financial Markets
t4.3. The Market System as an Efficient Mechanism for Information
5. Elasticity
t5.1. Price Elasticity of Demand and Price Elasticity of Supply
t5.2. Polar Cases of Elasticity and Constant Elasticity
t5.3. Elasticity and Pricing
t5.4. Elasticity in Areas Other Than Price
6. Consumer Choices
t6.1. Consumption Choices
t6.2. How Changes in Income and Prices Affect Consumption Choices
t6.3. Labor-Leisure Choices
t6.4. Intertemporal Choices in Financial Capital Markets
7. Cost and Industry Structure
t7.1. Explicit and Implicit Costs, and Accounting and Economic Profit
t7.2. The Structure of Costs in the Short Run
t7.3. The Structure of Costs in the Long Run
8. Perfect Competition
t8.1. Perfect Competition and Why It Matters
t8.2. How Perfectly Competitive Firms Make Output Decisions
t8.3. Entry and Exit Decisions in the Long Run
t8.4. Efficiency in Perfectly Competitive Markets
9. Monopoly
t9.1. How Monopolies Form: Barriers to Entry
t9.2. How a Profit-Maximizing Monopoly Chooses Output and Price
10. Monopolistic Competition and Oligopoly
t10.1. Monopolistic Competition
t10.2. Oligopoly
11. Monopoly and Antitrust Policy
t11.1. Corporate Mergers
t11.2. Regulating Anticompetitive Behavior
t11.3. Regulating Natural Monopolies
t11.4. The Great Deregulation Experiment
12. Environmental Protection and Negative Externalities
t12.1. The Economics of Pollution
t12.2. Command-and-Control Regulation
t12.3. Market-Oriented Environmental Tools
t12.4. The Benefits and Costs of U.S. Environmental Laws
t12.5. International Environmental Issues
t12.6. The Tradeoff between Economic Output and Environmental Protection
13. Positive Externalities and Public Goods
14. Poverty and Economic Inequality
15. Issues in Labor Markets: Unions, Discrimination, Immigration
16. Information, Risk, and Insurance
17. Financial Markets
18. Public Economy
19. The Macroeconomic Perspective
20. Economic Growth
21. Unemployment
22. Inflation
23. The International Trade and Capital Flows
24. The Aggregate Demand/Aggregate Supply Model
25. The Keynesian Perspective
26. The Neoclassical Perspective
27. Money and Banking
28. Monetary Policy and Bank Regulation
29. Exchange Rates and International Capital Flows
30. Government Budgets and Fiscal Policy
31. The Impacts of Government Borrowing
32. Macroeconomic Policy Around the World
33. International Trade
34. Globalization and Protectionism
