Revised edition of Economics 101, [2016]

"Too often, textbooks turn the noteworthy details of economics into tedious discourse that would put even Joseph Stiglitz to sleep. This new edition of Economics 101 cuts out the boring explanations and instead provides a hands-on lesson that keeps you engaged as you explore how societies allocate their resources for maximum benefit. From quantitative easing to marginal utility, this primer is packed with hundreds of entertaining tidbits and concepts that you won't be able to get anywhere else. You'll learn the basics on terms such as monopolies and oligopolies, game theory, inflation, price ceilings, and so much more. Have you ever wondered about the origin of banking or how banks create money? This book has all the answers. Whether you're looking to master major principles of finance or just want to learn more about why money matters, Economics 101 has all the answers-even the ones you didn't know you were looking for"--

Includes index

"New information on economic theories, government regulations, cryptocurrencies, and more" --Cover

"A Crash Course in How the Economy Works"--Cover

Introduction --

What is economics? -- Trade-offs and opportunity cost --

The

Emergence of free trade and the importance of comparative advantage -- International trade and trade barriers -- Traditional, command and market economies -- Modern economic theories -- Information and behavioral economics -- Capitalism versus socialism -- Barter and the development of money -- Inconvertible fiat explored --

The

Time value of money and interest rates --

A

Brief history of banking -- Banks as a system : regulation and deregulation -- Supply and demand : markets -- Supply and demand : consumer behavior -- Supply and demand : a price is born -- Changes in supply and demand -- Accounting versus economics --

The

Production function -- Perfect competition in the short and long run -- Oligopolies and imperfectly competitive markets -- Collusion and cartels -- Game theory -- Pricing behaviors -- Monopoly : the good, the bad, and the ugly -- Government in the marketplace : price ceilings and price floors -- Government in the marketplace : taxes and subsidies -- Market failures -- Financial markets and loanable funds theory --

The

Money market --

The

Bond market --

The

Stock market -- Foreign exchange and foreign trade -- Cryptocurrency -- Economic sectors --

The

Gross domestic product -- GDP : private spending and investment -- GDP : government spending and exports -- Approaches to GDP -- Real GDP changes and the business cycle -- What GDP doesn't tell us -- Key economic indicators --

The

US deficit and national debt -- Unemployment defined -- Inflation defined -- Inflation : winners and losers -- Disinflation and deflation -- Aggregate demand and aggregate supply -- Macroeconomic equilibrium --

The

Keynesian view and fiscal policy --

The

Federal reserve system -- US and global economic institutions -- Monetary policy -- Supply-side economics -- Economic growth -- Conditions for economic growth -- How economic policy affects growth --

The

Great depression meets the great recession --

The

Collapse of investment banking -- Fiscal policy under fire --

The

Environment and the economy --

Index