Economics Workbook

An introduction to economics and the economy; the tools of economics, analysis; demand, supply and the market; government in the mixed economy; the effect of price and income on demand quantities; the theory of consumer choice; business organization and behaviour; developing the theory of supply - costs and production; perfect competition and pure monopoly - the limiting cases of market structure; market structure and imperfect competition; the analysis of factor markets - labour; human capital, discrimination, and trade unions; capital and land - completing the analysis of factor markets; coping with risk in economics; taxes and public spending - the government and resource allocation; competition policy and industrial policy; nationalization and privatization; general equilibrium and welfare economics; introduction to macroeconomics and national income accounting; the determination of national income; aggregate demand, fiscal policy, and foreign trade; money and modern banking; central banking and the monetary system; monetary and fiscal policy in a closed economy; aggregate supply, the price level, and the speed of adjustment; unemployment; inflation; open economy macroeconomics; long-term growth and short-term fluctuations; macroeconomics - where do we stand?; international trade and commercial policy; the international monetary system and international finance; European integration in the 1990s; problems of developing countries in the world economy.