INSEAD Library

Digitized

BRIEF CONTENTS preface ix Economics Economics chapter 2 1 Taxes, Government Spending and lncome Distribution 509 part 1 introduction chapter 1 chapter 2 appendix What Is Economics? The Ordinary Business of Life I First Principles 5 Economic Models: Trade-offs and Trade Graphs in Economics 41 part 10 20 New Directions for Markets Technology, lnformation Goods and Network Externalities 535 chapter 22 part 2 chapter 3 chapter 4 chapter 5 Supply and Demand Supply and Demand 56 Price and Quantity Controls 84 1 Elasticity 1 1 part 11 chapter 23 chapter 24 Introduction to Macroeconomics Macroeconomics: The Big Picture 555 Tracking the Macroeconomy 580 part 3 chapter 6 chapter 7 Individuals and Markets Consumer and Producer Surplus 138 Making Decisions 163 part 12 chapter 25 chapter 26 The Economy i n the Long Run Long-Run Economic Growth 610 Savings, Investment Spending and the Financial System 637 part 4 chapter 8 chapter 9 The Producer Behind the Supply Curve: Inputs and Costs 185 Perfect Competition and the Supply Curve 211 part 13 chapter 27 chapter 28 appendix chapter 29 appendix chapter 30 chapter 3 1 Short-Run Economic Fluctuations Aggregate Supply and Aggregate Demand 664 lncome and Expenditure 698 Deriving the Multiplier Algebraically 722 Fiscal Policy 723 Taxes and the Multiplier 751 Money and Banking 753 Monetary Policy 777 part 5 chapter 1 0 chapter 11 The Consumer The Rational Consumer 236 Consumer Preferences and Consumer Choice 260 part 6 chapter 12 appendix chapter 13 Markets and Efficiency Factor Markets and the Distribution of lncome 289 Indifference Curve Analysis of Labour Supply 316 Efficiency and Equity 322 part 14 chapter 32 chapter 33 The Supply Side and the Medium Run Labour Markets, Unemployment and Inflation 806 Inflation, Disinflation and Deflation 832 part 7 chapter 14 chapter 15 chapter 1 6 Market Structure: Beyond Perfect Competition Monopoly 344 Oligopoly 375 Monopolistic Competition and Product Differentiation 402 part 15 chapter 3 4 The Open Economy Open-Economy Macroeconomics 856 part 16 chapter 3 5 Events and Ideas The Making of Modern Macroeconomics 886 part 8 chapter 1 7 chapter 1 8 Extending Market Boundaries International Trade 420 Uncertainty, Risk and Private lnformation 446 part 9 chapter 1 9 chapter 20 SoLutions t o "Check Your Understanding" Questions S-1 Macroeconomic Data 1981-2004 M-1 GLossary G - 1 Index 1-1 Microeconomics and Public Policy Externalities 470 Public Goods and Common Resources 491