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Cataloged Resources

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Economic Category: Principles of Economics

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Principles of Economics - Article

1. A Beginner's Guide to Elasticity

Including discussion on price elasticity of demand, price elasticity of supply, income elasticity of demand, and cross-price elasticity. [Details...]

2. How Economists Think

Discussion on how economists think, wants vs needs, value and revealed preference, choice or necessity, and price theory. Also includes practice questions. [Details...]

3. Positive and Normative Economics

Economists make a distinction between positive and normative economics. This article explains what the differences between the two are. [Details...]

4. Price as a Rationer

Sometimes the government is unwilling to let markets adjust to market-clearing prices. They instead establish price ceilings or price floors. This article goes on to explain what each one is. [Details...]

5. Revenue and Demand

This article examines the demand curve in terms of revenue and shows graphs to explain total revenue and marginal revenue. [Details...]

6. Supply and Demand

Describes how the price level is determined by the crossing of the supply and demand curves, and how a shift in supply or demand will influence the equilibrium price and quantity. [Details...]

7. What is Economics?

Detailed discussion on what economics is, why it works, samples of economic thining, and the link between economics and evolution. Also, includes practice questions and a suggested readings list. [Details...]

Principles of Economics - Glossary

8. Accounting, Business Studies and Economics Dictionary for students

The definitions of terms that have been included are most of the major subject specific words that students will come across in secondary level accounting, business studies and economics courses. This dictionary / glossary should also be of great use for introductory tertiary level students studying business related courses. [Details...]

Principles of Economics - Online Book

9. A Pedestrian's Guide to the Economy

This site is a reference source which provides answers to many of the most asked, a few of the least asked, and some of the never asked questions about the economy. [Details...]

10. CyberEconomics: An Analysis of Unintended Consequences

(from the author) "The purpose of CyberEconomics: An Analysis of Unintended Consequences is simple and not too ambitious: to provide an interactive supplement to a principles of economics course. Because no book publisher sponsors it, it is not designed to fit for any particular text book. Rather it reflects what I find logical for the development of the subject matter... On these pages you will find a complete, two-semester course in introductory economics." [Details...]

11. Essential Principles of Economics: A Hypermedia Text

A text covering microeconomics and macroeconomics principles, including: Neoclassical Economics; Money; Supply and Demand; International trade; Elasticity and Applications; Introduction to the Theory of Demand; Advanced Topics in the Theory of Demand; Productivity and Supply; Cost and Supply; Competition; Applications of Competetive Equilibrium Theory; Efficient Allocation of Resources; Monopoly; Oligopoly; Public Goods and Externalities; Markets for Factors of Production; Markets for Information Products; Measurement of the Aggregate Economy; Economic Growth; Problems of Macroeconomics; Aggregate Supply and Demand; The Income Expentiture Model; Economic Fluctuations in the Income Expenditure Model; Fiscal Policy; Monetary Policy; Coordination Failure; Consumption and the Life Cycle; Aggregate Supplyl; Applications of Aggregate Supply and Demand; Controversies in Macroeconomics; Marxist Economics; Twentieth Century Economic Systems. [Details...]

12. Introduction to Economic Analysis

This book presents introductory economics ("principles") material using standard mathematical tools, including calculus. It is designed for a relatively sophisticated undergraduate who has not taken a basic university course in economics. It also contains the standard intermediate microeconomics material and some material that ought to be standard but is not. The book can easily serve as an intermediate microeconomics text. The focus of this book is on the conceptual tools and not on fluff. Most microeconomics texts are mostly fluff and the fluff market is exceedingly over-served by $100+ texts. In contrast, this book reflects the approach actually adopted by the majority of economists for understanding economic activity. There are lots of models and equations and no pictures of economists. [Details...]

13. Lecture Notes in Microeconomic Theory

This short book contains my lecture notes for the first quarter of a microeconomics course for PhD or Master's degree economics students. The lecture notes were developed over a period of almost 15 years during which I taught the course, or parts of it, at Tel Aviv, Princeton, and New York universities. [Details...]

14. Macroeconomic Theory and Policy

An intermediate level text that relies on simple equilibrium models to interpret macroeconomic phenomena and evaluate policy. [Details...]

15. Macroeconomics

We have designed this book to be a supplement to Robert J. Barro's Macroeconomics, which is the textbook that is used in introductory macroeconomics courses at the University of Chicago. In teaching these courses, we have found that Barro's treatment of the subject does not make use of the mathematical skills of our students. In particular, Barro relies almost exclusively on economic intuition and graphs to elucidate his subject. Since our students are familiar with calculus, we are able to work out formal models. This almost always allows greater concreteness and concision. [Details...]

16. Macroeconomics

We have designed this book to be a supplement to Robert J. Barro's Macroeconomics, which is the textbook that is used in introductory macroeconomics courses at the University of Chicago. In teaching these courses, we have found that Barro's treatment of the subject does not make use of the mathematical skills of our students. In particular, Barro relies almost exclusively on economic intuition and graphs to elucidate his subject. Since our students are familiar with calculus, we are able to work out formal models. This almost always allows greater concreteness and concision. [Details...]

17. Price Theory: An Intermediate Text

This online book contains links to 24 chapters dealing with various aspects of price theory. [Details...]

18. The Best of Economics

An online textbook aimed at a high school course in economics. Topics covered include: growth theory; saving, finance, and social security; markets; and macroeconomics. [Details...]

19. The Joy of Economics: Making Sense out of Life

The book is divided into three sections. The first takes a traditional, though non-technical, approach to develop such core economic concepts as comparative advantage, demand and supply, and economic efficiency. The second section applies these concepts to a wide range of microeconomic issues and the third section tackles macroeconomic issues. These last sections, especially the microeconomic one, are less traditional. Rather than than trying to explain economics, their emphasis is on using economics to explain everyday phenomena. The recurring theme is that differences in behavior across individuals and/or across time are the result of differences in perceived costs and benefits. To understand behavior, both good and bad, we must uncover the underlying costs and benefits that create it. [Details...]

Principles of Economics - Course lecture

20. 5 Key Economic Questions Society Must Answer

[Details...]

21. Allocating Scarce Resources

Discussion of the production possibilities frontier, oppurtunity costs, and increasing costs. [Details...]

22. Demand Theory and Consumer Choice

Discussion on utility analysis, diminishing returns, utility maximizing rule, indifference curves, marginal rate of substitution, budget lines, and normal and inferior goods. [Details...]

23. Demand and Supply

discussion on the supply and demand curves, equilibrium, shifts of the supply and demand curve, and price floor and price cieling. [Details...]

24. Economic Rent, Interest, and Profit

Discussion on economic rent, interest, and profit. [Details...]

25. Economics Defined

[Details...]

26. Measuring Total Economic Activity

[Details...]

27. Product and Factor Markets

Basic discussion on the elements of the different product markets; pure competition, monopolistic competition, oligopoly, and monopoly. [Details...]

28. Pure Competition

Pure competition [Details...]

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