Economics For Dummies, UK Edition

Untangle the jargon and understand how you're involved ineveryday economicsIf you want to get to grips with the basics of economics andunderstand a subject that affects British citizens on a dailybasis, then look no further than Economics For Dummies. Thiseasy to understand guide takes you through the world of economicsfrom understanding micro- and macroeconomics to demystifyingcomplex topics such as capitalism and recession.This updated edition walks you through the history, principlesand theories of economics as well as breaking down all thecomplicated terminology, leaving you clued up on economics in notime.* Getting to grips - explore the science of economics andhow people deal with scarcity* Keeping an eye on it - learn all about macroeconomics andhow economists keep track of everything* Watch patterns emerge - understand why monitoring consumerbehaviour is vital and all you need to know aboutmicroeconomics* Your recession guide - expert advice on recessions and adetailed look at why they occurOpen the book and find:* Why you should care about economics and how it affects you* Tools to help you understand a recession* A guide to seductive economic fallacies* All you need to know on monetary and fiscal policies* How supply and demand can be made easy* Why it's vital to track consumer choices* An in-depth look at a profit-maximising firm and the core ofcapitalism* Guidance on property rights and wrongsLearn to:* Look through economic history and spot the trends* Understand micro- and macroeconomics* Get to grips with consumer behaviour and its influence on theeconomy* Spot the signs of a recession and see how economic decisionsaffect you

Introduction 1Part I: Economics: The Science of How People Deal with Scarcity 7Chapter 1: What Does Economics Study? And Why Should You Care? 9Chapter 2: Cake or Ice Cream? Tracking Consumer Choices 25Chapter 3: Producing the Right Stuff in the Right Way to Maximise Human Happiness 39Part II: Macroeconomics: The Science of Economic Growth and Stability 63Chapter 4: Measuring the Macroeconomy: How Economists Keep Track of Everything 65Chapter 5: Inflation Frustration: Why More Money Isn't Always a Good Thing 89Chapter 6: Understanding Why Recessions Happen 111Chapter 7: Fighting Recessions with Monetary and Fiscal Policy 141Part III: Microeconomics: The Science of Consumer and Firm Behaviour 169Chapter 8: Supply and Demand Made Easy 171Chapter 9: Getting to Know Homo Economicus, the Utility-Maximising Consumer 197Chapter 10: The Core of Capitalism: The Profit-Maximising Firm 217Chapter 11: Why Economists Love Free Markets and Competition 243Chapter 12: Monopolies: How Badly Would You Behave If You Had No Competition? 269Chapter 13: Oligopoly and Monopolistic Competition: Middle Grounds 291Chapter 14: Property Rights and Wrongs 315Chapter 15: Market Failure: Asymmetric Information and Public Goods 329Part IV: The Part of Tens 345Chapter 16: Ten (Or so) Famous Economists 347Chapter 17: Ten Seductive Economic Fallacies 355Chapter 18: Ten Economic Ideas to Hold Dear 363Appendix: Glossary 369Index 377