Economics / Roger N. Waud

Includes index.

One. Introduction -- Two. Aggregate Income, Employment, and Fiscal Policy -- Three. Money, Banking, and Monetary Policy -- Four. Inflation, Unemployment, Economic Stability, and Growth -- Five. The Price System and the Organization of Economic Activity -- Six. Market Structure, Pricing, and Government Regulation -- Seven. Price Determination of Economic Resources -- Eight. International Economics and World Trade.

Since its inception, this book's primary objective has been to demonstrate how principles of economics are used to analyze real-world events and problems, To meet this objective in a new way, a major feature has been added to the third edition- -a series of discussions about contemporary economic problems and policies for dealing with them. Each chapter has from one to four such sections, called "Policy Perspectives." They are directly related to the chapter's content and, because they deal with real-world situations, they enhance students' understanding of important economic issues. Ultimately, a basic education in economics should attempt to develop a facility, indeed a habit, for disentangling and making sense of important economic issues encountered daily in the popular press and on television. 'The third edition's Policy Perspectives demonstrate how to do this, while at the same time exploring matters of concern to most citizens. As a chapter unfolds, the Policy Perspectives provide effective vehicles for showing beginning students why the study of economics is useful. The third edition contains a number of significant substantive changes. In addition, all related data and graphs have been updated and, in a number of instances, new statistical information and graphs have been added. Every chapter has been reexamined with an eye to improving exposition and presentation, and no chapter has remained unchanged as a result of this process.