Economics: Today and Tomorrow

, by Miller, Roger LeRoy

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ISBN: 9780028231020 | 0028231023
Cover: Hardcover
Copyright: 1/1/1995

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UNIT 1 AN INTRODUCTION TO ECONOMICS

What is Economics?

(22)

The Basic Problem in Economics

(5)

Learning Economic Skills: Reading Tables and Graphs

(1)

Trade-Offs

(5)

Personal Perspective: Robert L. Heilbroner on the Great Economists

(1)

What Do Economists Do?

(10)

News Clip: Runner's High

(1)

Chapter Highlights

(1)

Chapter Review

(2)

Point/Counterpoint: Should the Government Require Domestic National Service?

(2)

Economic Systems and the American Economy

(28)

Economic Systems

(7)

Learning Economic Skills: Understanding Percentages and Discounts

(1)

Characteristics of the American Economy

(7)

Personal Perspective: Adam Smith on Free Enterprise

(1)

Case Study: Focus on Free Enterprise---Blue Bell Creameries, Inc.

(2)

The Goals of the Nation

(12)

News Clip: Prince of Midair

(1)

Chapter Highlights

(1)

Chapter Review

(2)

Economics Lab: Using Economic Models

(4)

UNIT 2 PRACTICAL ECONOMICS: HOW THEORY WORKS FOR YOU

Your Role as a Consumer

(22)

Consumption, Income, and Decision Making

(5)

Personal Perspective: Susan Bowen on Running a Business in Tough Times

(1)

Buying Principles, or Strategies

(5)

Learning Economic Skills: Handling a Consumer Problem

(1)

Consumerism

(10)

News Clip: Behind the ``Clear'' Trend

(1)

Chapter Highlights

(1)

Chapter Review

(2)

Point/Counterpoint: Should ``Pollution Taxes'' Be Used to Help the Environment and Lower the Deficit?

(2)

Going into Debt

(28)

Americans and Credit

(5)

Personal Perspective: Ronald Homer on Running a Bank

(1)

Sources of Loans and Credit

(9)

Applying for Credit

(4)

Learning Economic Skills: Determining a Safe Debt Load

(1)

Government Regulation of Credit

(8)

News Clip: Digging Out of the Debt Trap

102

(1)

Chapter Highlights

103

(1)

Chapter Review

104

(2)

Buying the Necessities: Food and Clothing

106

(16)

Shopping for Food

108

(5)

Personal Perspective: Barbara Ward on Saving Our Resources for the Future

112

(1)

Clothing Choices

113

(9)

Learning Economic Skills: Learning About Percentage Changes

117

(1)

News Clip: Don't Get Cheated by Supermarket Scanners

118

(1)

Chapter Highlights

119

(1)

Chapter Review

120

(2)

Buying the Necessities: Housing and Transportation

122

(22)

Housing Needs and Wants

124

(5)

Personal Perspective: Thorstein Veblen on Conspicuous Consumption

128

(1)

To Rent or to Buy

129

(6)

Learning Economic Skills: Comparing Insurance

134

(1)

Buying and Operating an Automobile

135

(9)

News Clip: Fighting Racial Discrimination in Home Lending

140

(1)

Chapter Highlights

141

(1)

Chapter Review

142

(2)

Saving and Investing

144

(30)

Why Save?

146

(8)

Personal Perspective: H. Ross Perot on Saving and Investing

151

(1)

Case Study: Focus on Free Enterprise---Motown Records

152

(2)

Investing: Taking Risks With Your Savings

154

(7)

Special Savings Plans and Goals

161

(13)

Learning Economic Skills: Understanding Interest

165

(1)

News Clip: The Case for U.S. Savings Bonds

166

(1)

Chapter Highlights

167

(1)

Chapter Review

168

(2)

Economics Lab: Planning a Trip

170

(4)

UNIT 3 MICROECONOMICS: MARKETS, PRICES, AND BUSINESS COMPETITION

Supply and Demand

174

(32)

Demand

176

(6)

Case Study: Focus on Free Enterprise--The Body Shop

180

(2)

The Demand Curve and the Elasticity of Demand

182

(9)

Personal Perspective: Alfred Marshall on Supply and Demand

190

(1)

The Law of Supply and the Supply Curve

191

(5)

Critical Thinking Skills: Determining Cause and Effect

195

(1)

Putting Supply and Demand Together

196

(10)

News Clip: Blue Jeans as Tuna Fish

202

(1)

Chapter Highlights

203

(1)

Chapter Review

204

(2)

Business Organizations

206

(24)

Starting a Business

208

(5)

Personal Perspective: William Gates on Running a Business

212

(1)

Sole Proprietorships and Partnerships

213

(6)

Learning Economic Skills: Reading the Financial Page

218

(1)

The Corporate World and Franchises

219

(11)

News Clip: The Nordic Way

224

(1)

Chapter Highlights

225

(1)

Chapter Review

226

(2)

Point/Counterpoint: Role of the Government in the Economy: Should Industry Be Deregulated?

228

(2)

Competition and Monopolies

230

(26)

Perfect Competition

232

(5)

Critical Thinking Skills: Analyzing Economic Cartoons

236

(1)

Monopoly, Oligopoly, and Monopolistic Competition

237

(7)

Personal Perspective: Joan Robinson on Imperfect Competition

243

(1)

Government Policies Toward Competition

244

(12)

News Clip: Is Nike Getting Too Big?

248

(1)

Chapter Highlights

249

(1)

Chapter Review

250

(2)

Economics Lab: Running a Business

252

(4)

UNIT 4 MICROECONOMICS: AMERICAN BUSINESS IN ACTION

Financing and Producing Goods

256

(24)

Investing in the Free Enterprise System

258

(7)

Learning Economic Skills: Building Graphs

264

(1)

Types of Financing for Business Operations

265

(6)

Personal Perspective: Judith Resnick on Starting Up a Financial Business

270

(1)

The Production Process

271

(9)

News Clip: Whistle Blower

276

(1)

Chapter Highlights

277

(1)

Chapter Review

278

(2)

Marketing and Distribution

280

(24)

The Changing Role of Marketing

282

(6)

Case Study: Focus on Free Enterprise--Harley Davidson

286

(2)

The Marketing Mix

288

(5)

Personal Perspective: Charles Wang on Challenges in the Computer Industry

292

(1)

Distribution Channels

293

(11)

Critical Thinking Skills: Distinguishing Fact From Opinion

297

(1)

News Clip: Testing the Waters

298

(1)

Chapter Highlights

299

(1)

Chapter Review

300

(2)

Point/Counterpoint: Is Affirmative Action Necessary to End Discriminatory Hiring Practices?

302

(2)

The American Labor Force

304

(26)

Americans at Work

306

(5)

Learning Economic Skills: Determining Averages: Mean and Median

310

(1)

Organized Labor

311

(7)

Personal Perspective: Thomas Sowell on Discrimination

317

(1)

Collective Bargaining

318

(12)

News Clip: The Plague of Downward Job Mobility

322

(1)

Chapter Highlights

323

(1)

Chapter Review

324

(2)

Economics Lab: Measuring Productivity

326

(4)

UNIT 5 MACROECONOMICS: MANAGING THE NATION'S ECONOMY

Measuring the Economy's Performance

330

(30)

National Income Accounting

332

(6)

Learning Economic Skills: Using Index Numbers: Price Indexes

337

(1)

Correcting Statistics for Inflation

338

(4)

Aggregate Supply and Demand

342

(5)

Personal Perspective: John Maynard Keynes on Equilibrium Employment

346

(1)

Business Fluctuations

347

(4)

Causes and Indicators of Business Fluctuations

351

(9)

News Clip: McDonald's: 95 Billion Burgers

356

(1)

Chapter Highlights

357

(1)

Chapter Review

358

(2)

Money and Banking

360

(26)

The Functions and Characteristics of Money

362

(6)

Personal Perspective: John W. Rogers on Money Management

367

(1)

History of American Money and Banking

368

(8)

Learning Economic Skills: Keeping a Checking Account

373

(1)

Case Study: Focus on Free Enterprise--Adams National Bank

374

(2)

Types of Money in the United States

376

(10)

News Clip: Had It With Your Bank's Fees?

380

(1)

Chapter Highlights

381

(1)

Chapter Review

382

(2)

Point/Counterpoint: Can the Economy Be Fine-Tuned Using Fiscal and Monetary Policies?

384

(2)

The Federal Reserve System and Monetary Policy

386

(24)

Money Supply and the Economy

388

(5)

Personal Perspective: Milton Friedman on the Federal Reserve

392

(1)

Organization and Functions of the Federal Reserve System

393

(7)

Learning Economic Skills: Understanding Real and Nominal Values

399

(1)

Regulating the Money Supply

400

(10)

News Clip: Central Bank Gripes About a New World

406

(1)

Chapter Highlights

407

(1)

Chapter Review

408

(2)

Government Spends, Collects, and Owes

410

(26)

Growth in the Size of Government

412

(4)

The Functions of Government

416

(5)

Personal Perspective: Robert Reich on Government

420

(1)

The Federal Budget and the National Debt

421

(7)

Learning Economic Skills: Understanding Federal Income Tax Withholding

427

(1)

Taxation

428

(8)

News Clip: Summer Festivals: The High Price of Having Fun

432

(1)

Chapter Highlights

433

(1)

Chapter Review

434

(2)

Controlling Unemployment and Inflation

436

(24)

Unemployment and Inflation

438

(5)

Personal Perspective: Paul Samuelson on Unemployment and Inflation

442

(1)

The Fiscal Policy Approach to Stabilization

443

(5)

Learning Economic Skills: Using the Consumer Price Index

447

(1)

Monetarism and the Economy

448

(12)

News Clip: Teenagers' Cash

452

(1)

Chapter Highlights

453

(1)

Chapter Review

454

(2)

Economics Lab: Filing a Tax Return

456

(4)

UNIT 6 THE INTERNATIONAL SCENE

Trading with Other Nations

460

(20)

The Benefits of World Trade

462

(5)

Personal Perspective: David Ricardo on Trading With Other Nations

466

(1)

Financing World Trade

467

(5)

Learning Economic Skills: Exchanging Foreign Currency

471

(1)

Restrictions on World Trade

472

(8)

News Clip: Taking Sides

476

(1)

Chapter Highlights

477

(1)

Chapter Review

478

(2)

Converging Economic Systems

480

(22)

Comparing Capitalism and Socialism

482

(5)

Learning Economic Skills: Understanding Economic News

486

(1)

Changing Authoritarian Socialism--The Case of China

487

(5)

Personal Perspective: Karl Marx on Communism

491

(1)

Nations Move Toward the Market System

492

(10)

News Clip: Why China Does It Better

496

(1)

Chapter Highlights

497

(1)

Chapter Review

498

(2)

Point/Counterpoint: Does Free Trade Help or Hurt Americans?

500

(2)

Economic Growth in Developing Nations

502

(28)

Characteristics of Developing Nations

504

(6)

Case Study: Focus on Free Enterprise---The Chicago Pizza Pie Factory

508

(2)

The Process of Economic Development

510

(7)

Learning Economic Skills: Recognizing Trends

516

(1)

Obstacles to Growth in Developing Nations

517

(5)

Personal Perspective: Thomas Malthus on Overpopulation

521

(1)

Industrialization and the Future

522

(8)

News Clip: Is Singapore a Model for the West?

526

(1)

Chapter Highlights

527

(1)

Chapter Review

528

(2)

The Global Economy

530

(26)

Reasons for and Results of Global Integration

532

(5)

Critical Thinking Skills: Making Inferences From Statistics

536

(1)

Direct Foreign Investment--Should We Be Worried?

537

(6)

Personal Perspective: Laura Tyson on the Global Economy

542

(1)

Multinationals and Economic Competition

543

(13)

News Clip: The Invasion of the American Way

548

(1)

Chapter Highlights

549

(1)

Chapter Review

550

(2)

Economics Lab: Economic News Report

552

(4)

ATLAS

556

(4)

CAREER HANDBOOK

560

(8)

GLOSSARY

568

(48)

SPANISH HANDBOOK

Spanish Glossary

580

(14)

Spanish Chapter Highlights

594

(22)

Index

616

(11)

Acknowledgments

627

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