Basic economic principles : a guide for students / David E. O'Connor and Christopher Faille.

ISBN:

9780313000324

Title:

Author:

O'Connor, David E. (David Edward)

Personal Author:

O'Connor, David E. (David Edward)

Publication Information:

Westport, Conn. : Greenwood Press, 2000.

Physical Description:

1 online resource (viii, 255 pages)

Contents:

What is economics? -- How do economic systems work? -- How are prices set in the U.S. economy? -- Why do consumers behave as they do? -- How are goods and services produced -- How are businesses organized? -- How do businesses compete? -- Why is money used in the economy? -- Why do people save, borrow, and use credit? -- Why do people invest money? -- How does government raise and spend money? -- How does government stabilize the economy? -- How is income distributed in the United States? -- How do labor and management come to terms? -- Why do nations trade?

Local Note:

eBooks on EBSCOhost

Subject Term:

Economics.

Added Author:

Faille, Christopher C., 1958-

Format:

Electronic Resources

Electronic Access:

Click here to view

Publication Date:

2000

Publication Information:

Westport, Conn. : Greenwood Press, 2000.

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Summary

This user-friendly guide explains economic concepts and principles in a lively, informative way. Clear and easy-to-understand definitions and explanations, with examples that relate to issues and problems relevant to teenagers, will help students gain a better understanding of economics. In 15 chapters, the guide covers all the basic information students need to understand the basic concepts and principles of economics, including: definition of economics in historical context; how various economics systems work; how prices are set in the U.S. economy; consumer behavior; factors of production; types of businesses; competition in the marketplace; the functions of money; banking and credit; types of investments; the federal budget and taxation; federal monetary and fiscal policies; income distribution in the United States; labor and management issues; international trade.Each chapter explores a key question in economics, is illustrated with graphs and tables, and features the latest economic data. Profiles of the major economic thinkers who influenced thinking on concepts and principles provide historical context. In addition to improving students' conceptual understanding, the guide also encourages critical thinking by investigating controversial issues related to topics as varied as the minimum wage, the decay of our natural environment, poverty, and business ethics of multinational corporations. An extensive glossary of key economic concepts, terms, and institutions is a handy tool. Unlike cut-and-dried, difficult to follow reference works on economics, this guide, designed and written especially for students, will help readers better understand economic information and issues.

Author Notes

DAVID E. O'CONNOR is a nationally recognized economics teacher at the Edwin O. Smith High School in Storrs, Connecticut. He has also served as a College Board Consultant in Economics, President of the Connecticut Council for Social Studies, and Instructor at the Taft Summer Institute for Teachers. He has conducted over 100 teacher workshops and written 18 books and teacher's manuals in the fields of economics, ethnic history, and world history, including Basic Economic Principles (Greenwood, 2000), Demystifying the Global Economy (Greenwood, 2002), and The Basics of Economics (Greenwood, 2004).CHRISTOPHER FAILLE is author of These Last Four Centuries: A Romp through Intellectual History (1988) and The Decline and Fall of the Supreme Court: Living Out the Nightmares of the Federalists (Praeger, 1995).

Reviews (1)

Choice Review

This guide to basic economic principles, by a pair of experienced textbook writers, is intended for high school students but also can be profitably used by lower-division undergraduates. Heavy on description of economic institutions, the book explains economic concepts in a clear, easy to understand style. Each of the 15 chapters is organized around a single question such as "How do businesses compete?" or "Why do nations trade?" Other topics address types of economic systems, supply and demand, consumer behavior, industrial organization, money and banking, monetary and fiscal policy, income distribution, and collective bargaining. The authors provide evenhanded treatment of controversial topics, providing both points of view on such issues as the minimum wage and protectionism. An attraction of the book is its brevity. In a scant 222 pages, readers are introduced to enough of the method and subject matter of economics to be able to form independent analysis and judgment on many economic issues. The authors also neatly demonstrate how economic principles can be applied to a variety of personal and societal issues. Recommended for library collections serving general readers and lower-division undergraduate students. D. A. Latzko; Pennsylvania State University, York Campus

Preface	p. vii
1 What Is Economics?	p. 1
2 How Do Economic Systems Work?	p. 15
3 How Are Prices Set in the U.S. Economy?	p. 31
4 Why Do Consumers Behave as They Do?	p. 49
5 How Are Goods and Services Produced?	p. 63
6 How Are Businesses Organized?	p. 77
7 How Do Businesses Compete?	p. 91
8 Why Is Money Used in the Economy?	p. 105
9 Why Do People Save, Borrow, and Use Credit?	p. 117
10 Why Do People Invest Money?	p. 133
11 How Does Government Raise and Spend Money?	p. 147
12 How Does Government Stabilize the Economy?	p. 161
13 How Is Income Distributed in the United States?	p. 175
14 How Do Labor and Management Come to Terms?	p. 191
15 Why Do Nations Trade?	p. 207
Glossary of Economic Terms	p. 223
Selected Bibliography	p. 239
Index	p. 243

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Summary

Author Notes

Reviews (1)

Choice Review

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