Economics For Dummies

Learn the basics of economics and keep up to date on our ever-changing economyWhether you're studying economics in high school or college, or you're just interested in taking a peek into the complexities of how money moves, Economics For Dummies is the go-to reference that transforms complex economic concepts into easy-to-understand reading. With the simple explanations in this book, you'll master key topics like supply and demand, consumer behavior, and how governments and central banks attempt to avoid--or at least ameliorate--business downturns and recessions. Plus, you'll learn what's going on these days with inflation, interest rates, labor shortages, and the Federal Reserve. Studying for an exam? This Dummies guide has your back, with online practice and chapter quizzes to help you get the score you need. It's time to recon econ, the Dummies way.* Get a grasp on the unchanging fundamentals of economics* Dive into behavioral economics and consumer decision making* Learn what drives economic growth and inequality* Solidify your knowledge with practice questions and quizzesEconomics For Dummies is an approachable reference book for students, as well as an informative guide for anyone interested in learning more about today's economy.

Introduction 1Part1: Economics: The Science of How People Deal with Scarcity 5Chapter 1: What Economics Is and Why You Should Care 7Chapter 2: Cookies or Ice Cream? Exploring Consumer Choices 23Chapter 3: Producing Stuff to Maximize Happiness 37Part 2: Microeconomics: The Science of Consumer and Firm Behavior 59Chapter 4: Supply and Demand Made Easy 61Chapter 5: Introducing Homo Economicus, the Utility-Maximizing Consumer 87Chapter 6: The Core of Capitalism: The Profit-Maximizing Firm 105Chapter 7: Why Economists Love Free Markets and Competition 129Chapter 8: Monopolies: Bad Behavior When Competition Is Lacking 155Chapter 9: Oligopoly and Monopolistic Competition: Middle Grounds 177Part 3: Applying the Theories of Microeconomics 195Chapter 10: Property Rights and Wrongs 197Chapter 11: Asymmetric Information and Public Goods 209Chapter 12: Internet Economics: Networks and Platforms 225Chapter 13: Behavioral Economics: Investigating Irrationality 245Part 4: Macroeconomics: The Science of Economic Growth and Stability 263Chapter 14: How Economists Measure the Macroeconomy 265Chapter 15: Inflation Frustration: Why More Money Isn't Always Good 285Chapter 16: Understanding Why Recessions Happen 303Chapter 17: Fighting Recessions with Monetary and Fiscal Policy 329Chapter 18: Grasping Origins and Effects of Financial Crises 359Part 5: The Part of Tens 369Chapter 19: Ten Seductive Economic Fallacies 371Chapter 20: Ten Economic Ideas to Hold Dear 379Chapter 21: Ten (Or So) Super-Famous Economists 383Chapter 22: Ten (Or So) Recent Nobel Laureates in Economics 391Glossary 397Index 405