The Capitalist Comeback: The Trump Boom and the Left's Plot to Stop It

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pt. 10. Introduction to macroeconomics -- 22. Macroeconomics : the big picture -- The nature of macroeconomics -- The business cycle -- The pain of recession -- Long-run economic growth -- Inflation and deflation -- International imbalances -- 23. Tracking the macroeconomy -- The national accounts -- The circular-flow diagram -- Gross Domestic Product -- Calculating GDP -- Real GDP : a measure of aggregate output -- Price indexes and the aggregate price level -- The Consumer Price Index -- 24. Unemployment and inflation -- The unemployment rate -- The natural rise of unemployment -- Job creation and job destruction -- Inflation and deflation -- pt. 11. Long-run economic growth -- 25. Comparing economics across space and time -- The sources of long-run growth -- Productivity -- The aggregate production function -- Why growth rates differ -- Capital, technology, and growth differences -- The role of government in promoting economic growth -- Success, disappointment, and failure -- East Asia's miracle -- Latin America's disappointment -- Africa's troubles -- Is world growth sustainable? -- Economic growth and the environment -- 26. Savings, investment spending, and the financial system -- Matching up savings and investment spending -- The financial system -- Financial fluctuations -- Asset price expectations -- Asset price and macroeconomics -- pt. 12. Short-run economic fluctuations -- 27. Income and expenditure -- The multiplier : an informal introduction -- Consumer spending -- Investment spending -- The income-expenditure model -- 27. Appendix : Aggregate demand and aggregate supply -- 28. Aggregate demand and aggregate supply -- Shifts of the aggregate demand curve -- Shifts of the short-run aggregate supply curve -- The AD-AS model -- Short-run macroeconomic equilibrium -- Macroeconomic policy -- Keynes.;pt. 13. Stabilization policy -- 29. Fiscal policy -- Fiscal policy : the basics -- Taxes, purchases of goods and services, government transfers, and borrowing -- The government budget and total spending -- Fiscal policy and the multiplier -- The budget balance -- The business cycle and the cyclically adjusted budget balance -- Long-run implications of fiscal policy -- Deficits, surpluses and debt -- 29. Appendix : Taxes and the multiplier -- 30. Money, banking and the Federal Reserve System -- The meaning of money -- Measuring the money supply -- The monetary role of banks -- Bank regulation -- Determining the money supply -- The Federal Reserve System -- What the Fed does : reserve requirements and the discount rate -- Open-market operations -- European Central Bank -- An overview of the twenty-first century American Banking System -- 31. Monetary policy -- The demand for money -- Money and interest rates -- Monetary policy and aggregate demand -- Monetary policy, income, and expenditure -- Inflation targeting -- Money, output, and prices in the long run -- 31. Appendix : Reconciling the two models of the interest rate -- 32. Inflation, disinflation, and deflation -- Money and inflation -- Moderate inflation and disinflation -- The output gap and the unemployment rate -- Okun's Law -- The Short-run Phillips Curve -- Inflation and unemployment in the long run -- Debt deflation -- pt. 14. Events and ideas -- 33. Classical Macroeconomics -- Money and the price level -- The Great Depression and the Keynesian revolution -- Keyne's theory -- Challenges to Keynesian economics -- The revival of monetary policy -- Monetarism -- Inflation and the natural rate of unemployment -- The political business cycle -- Rational expectations, real business cycles, and new classical macroeconomics -- The modern consensus -- pt. 15. The open economy -- 34. Open-economy macroeconomics -- Capital flows and the balance of payments -- The role of the exchange rate -- Exchange rate policy -- Exchange rates and macroeconomic policy -- Fixed exchange rates -- Floating exchange rates.;pt. 6. Behind the supply curve : inputs and costs -- The production function -- Malthus -- Two key concepts : marginal cost and average cost -- Short-run versus long-run costs -- 13. Perfect competition and the supply curve -- Perfect competition -- Production and profits -- The industry supply curve -- pt. 7. Market structure : beyond perfect competition -- 14. Monopoly -- Types of market structure -- The meaning of monopoly -- How a monopolist maximizes profit -- Monopoly and public policy -- Price discrimination -- 15. Oligopoly -- The prevalence of oligopoly -- Collusion and competition -- Games oligopolists play -- Oligopoly in practice -- Tacit collusion and price wars -- How important is oligopoly? -- 16. Monopolistic competition and product differentiation -- The meaning of monopolistic competition -- Product differentiation -- Understanding monopolistic competition -- Controversies about product differentiation -- The role of advertising -- pt. 8. Microeconomics and public policy -- 17. Externalities -- The economics of pollution -- Policies toward pollution -- Environmental standards -- Production, consumption, and externalities -- Network externalities -- 18. Public goods and common resources -- Private goods and others -- Public goods -- Common resources -- Artificially scarce goods -- 19. The economics of the welfare state -- Poverty, inequality, and public policy -- The U.S. Welfare State -- Means-tested programs -- Social Security and Unemployment Insurance -- The economics of health care -- The debate over the welfare state -- pt. 9. Factor markets and risk -- 20. Factor markets and the distribution of income -- The economy's factors of production -- Marginal productivity and factor demand -- Is the marginal productivity theory of income distribution really true? -- The supply of labor -- 20. Appendix : Indifference curve analysis of labor supply --21. Uncertainty, risk, and private information -- The economics of risk aversion -- Buying, selling, and reducing risk -- Private information : what you don't know can hurt you.;pt. 1. What is economics? -- Introduction : the ordinary business of life -- 1. First principles -- Individual choice : the core of economics -- 2. Economic models : trade-offs and trade -- 2. Graphs in economics -- graphs, variables, and economic models -- A key concept : the slope of a curve -- Calculating the area below or above a curve -- Graphs that depict numerical information -- pt. 2. Supply and demand -- 3. Supply and demand : a model of a competitive market -- The demand curve -- The supply curve -- Supply, demand, and equilibrium -- Changes in supply and demand -- Competitive markets and others -- 4. Consumer and producer surplus -- Consumer surplus and the demand curve -- Producer surplus and the supply curve -- Consumer surplus, producer surplus and the gains from trade -- A market economy -- 5. The market strikes back -- Why governments control prices -- Price ceilings -- Price floors -- Controlling quantities -- 6. Elasticity -- Defining and measuring elasticity -- Interpreting the price elasticity of demand -- Other demand elasticities -- The price elasticity of supply -- An elasticity menagerie -- pt. 3. Individuals and markets -- 7. Taxes -- The economics of taxes : a preliminary view -- The benefits and costs of taxation -- Tax fairness and tax efficiency -- Understanding the tax system -- 8. International trade -- Comparative advantage and international trade -- Supply, demand, and international trade -- The effects of trade protection -- The political economy of trade protection -- pt. 4. Economics and decision making -- 9. Opportunity cost and decisions -- Making "how much" decisions : the role of marginal analysis -- Sunk costs -- The concept of present value -- pt. 5. The consumer -- 10. The rational consumer -- Utility : getting satisfaction -- Budgets and optimal consumption -- Spending the marginal dollar -- From utility to the demand curve -- 11. Consumer preferences and consumer choice -- Mapping the utility function -- Indifference curves and consumer choice -- Prices, income, and demand.;Providing students of economics with a complete introduction to the subject, this work includes examples not just based on US macroeconomic history, but international experiences, so will appeal to a European audience and give students a more realistic view of how economics works in the real world.