Untangle the jargon and understand how you’re involved in
everyday economics
If you want to get to grips with the basics of economics and
understand a subject that affects British citizens on a daily
basis, then look no further than Economics For Dummies. This
easy to understand guide takes you through the world of economics
from understanding micro- and macroeconomics to demystifying
complex topics such as capitalism and recession.
This updated edition walks you through the history, principles
and theories of economics as well as breaking down all the
complicated terminology, leaving you clued up on economics in no
time.
* Getting to grips – explore the science of economics and
how people deal with scarcity
* Keeping an eye on it – learn all about macroeconomics and
how economists keep track of everything
* Watch patterns emerge – understand why monitoring consumer
behaviour is vital and all you need to know about
microeconomics
* Your recession guide – expert advice on recessions and a
detailed look at why they occur
Open the book and find:
* Why you should care about economics and how it affects you
* Tools to help you understand a recession
* A guide to seductive economic fallacies
* All you need to know on monetary and fiscal policies
* How supply and demand can be made easy
* Why it’s vital to track consumer choices
* An in-depth look at a profit-maximising firm and the core of
capitalism
* Guidance on property rights and wrongs
Learn to:
* Look through economic history and spot the trends
* Understand micro- and macroeconomics
* Get to grips with consumer behaviour and its influence on the
economy
* Spot the signs of a recession and see how economic decisions
affect you
Table of Content
Introduction 1
Part I: Economics: The Science of How People Deal with Scarcity 7
Chapter 1: What Does Economics Study? And Why Should You Care? 9
Chapter 2: Cake or Ice Cream? Tracking Consumer Choices 25
Chapter 3: Producing the Right Stuff in the Right Way to Maximise Human Happiness 39
Part II: Macroeconomics: The Science of Economic Growth and Stability 63
Chapter 4: Measuring the Macroeconomy: How Economists Keep Track of Everything 65
Chapter 5: Inflation Frustration: Why More Money Isn’t Always a Good Thing 89
Chapter 6: Understanding Why Recessions Happen 111
Chapter 7: Fighting Recessions with Monetary and Fiscal Policy 141
Part III: Microeconomics: The Science of Consumer and Firm Behaviour 169
Chapter 8: Supply and Demand Made Easy 171
Chapter 9: Getting to Know Homo Economicus, the Utility-Maximising Consumer 197
Chapter 10: The Core of Capitalism: The Profit-Maximising Firm 217
Chapter 11: Why Economists Love Free Markets and Competition 243
Chapter 12: Monopolies: How Badly Would You Behave If You Had No Competition? 269
Chapter 13: Oligopoly and Monopolistic Competition: Middle Grounds 291
Chapter 14: Property Rights and Wrongs 315
Chapter 15: Market Failure: Asymmetric Information and Public Goods 329
Part IV: The Part of Tens 345
Chapter 16: Ten (Or so) Famous Economists 347
Chapter 17: Ten Seductive Economic Fallacies 355
Chapter 18: Ten Economic Ideas to Hold Dear 363
Appendix: Glossary 369
Index 377
About the author
Peter Antonioni is a Senior Teaching Fellow in the Department of Management, Science and Innovation at University College London. He has worked in both the academic and private sectors as an economist. Sean Masaki Flynn, Ph D, is an Assistant Professor of Economics.
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