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Principles of Economics
Source: OpenStax College | Type: Online Book
Principles of Economics covers the scope and sequence for a two-semester principles of economics course. The text also includes many current examples, including; discussions on the great recession, the controversy among economists over the Affordable Care Act (Obamacare), the recent government shutdown, and the appointment of the United States’ first female Federal Reserve chair, Janet Yellen.
The pedagogical choices, chapter arrangements, and learning objective fulfillment were developed and vetted with feedback from educators dedicated to the project. The outcome is a balanced approach to micro and macro economics, to both Keynesian and classical views, and to the theory and application of economics concepts. Current events are treated in a politically-balanced way, as well.
Grades:
Concepts:
- Absolute Advantage
- Accounting Loss
- Accounting Profit
- Advertising
- Aggregate Demand (AD)
- Aggregate Supply (AS)
- Balance of Payments
- Banking
- Barriers to Trade
- Barter
- Barter And Trade
- Benefit
- Bond
- Borrower
- Budget
- Budget Deficit
- Budget Surplus
- Budgeting
- Business
- Business Cycles
- Businesses and Households
- Capital
- Capital Goods
- Capital Resources
- Causes of Inflation
- Central Banking System
- Characteristics of Money
- Checking Account
- Choice
- Circular Flow
- Command Economy
- Commodities Market
- Communities and Cities
- Comparative Advantage
- Competition
- Consumer Economics
- Consumer Price Index (CPI)
- Consumers
- Consumption
- Cost/benefit
- Cost/Benefit Analysis
- Costs
- Costs of Production
- Credit
- Currency
- Decision Making
- Definition of Money
- Deflation
- Demand
- Depression
- Derived Demand
- Determinants of Demand
- Determinants of Supply
- Diminishing Returns/Utility
- Diminishing Utility
- Discount Rate
- Distribution of Income
- Division of Labor
- Economic Efficiency
- Economic Equity
- Economic Freedom
- Economic Goals
- Economic Growth
- Economic History
- Economic Indicators
- Economic Institutions
- Economic Profit
- Economic Security
- Economic Systems
- Economic Wants
- Elasticity
- Elasticity of Demand
- Entrepreneur
- Entrepreneurship
- Equilibrium Price
- Ethics
- Exchange
- Exchange Rate
- Expenditures
- Exports
- Externalities
- Factor Endowments
- Factors of Production
- Federal Budget
- Federal Expenditures
- Federal Reserve
- Federal Tax Revenue
- Firm Labor
- Fiscal Policy
- Free-rider
- Full Employment
- Functional Distribution
- Functional Distribution of Income
- Functions of Money
- Gains from Trade
- GDP/GNP
- Goods
- Goods And Services
- Government Expenditures
- Government Failures/Public-Choice Analysis
- Government Goods
- Government Revenues
- Government Services
- Gross Domestic Product (GDP)
- Growth
- Housing
- Human Capital
- Human Resources
- Imports
- Incentive
- Income
- Income Tax
- Inflation
- Inflation/deflation
- Innovation
- Insurance
- Intensive Growth
- Interdependence
- Interest
- Interest Rate
- Intermediate Good
- Inventors
- Investing
- Investment
- Labor
- Labor Force
- Labor Market
- Labor Productivity
- Labor Supply
- Labor Union
- Land Market
- Law of Demand
- Law of Supply
- Legal and Social Framework
- Legal Forms of Business
- Legal Foundations of a Market Economy
- Levels of Competition
- Macroeconomic Indicators
- Maintaining Competition
- Maintaining Regulation
- Marginal Analysis
- Marginal Resource Product
- Market Economy
- Market Failure
- Market Structure
- Markets
- Monetary Policy
- Money
- Money Management
- Money Supply
- Monopolies
- Mortgage
- National Debt
- Natural
- Natural Monopoly
- Natural Resources
- Negative Externality
- Nominal Gross Domestic Product (GDP)
- Non-clearing Markets
- Non-exclusion
- Non-price Competition
- Non-price Determinants
- Nonprofit Organization
- Open Market Operations
Standards:
- Economics 1: Scarcity
- Economics 2: Marginal Cost/Benefit
- Economics 3: Allocation of Goods and Services
- Economics 4: Role of Incentives
- Economics 5: Gain from Trade
- Economics 6: Specialization and Trade
- Economics 7: Markets - Price and Quantity Determination
- Economics 8: Role of Price in Market System
- Economics 9: Role of Competition
- Economics 10: Role of Economic Institutions
- Economics 11: Role of Money
- Economics 12: Role of Interest Rates
- Economics 13: Role of Resources in Determining Income
- Economics 14: Profit and the Entrepreneur
- Economics 15: Growth
- Economics 16: Role of Government
- Economics 17: Using Cost/Benefit Analysis to Evaluate Govern
- Economics 18: Macroeconomy-Income/Employment, Prices
- Economics 19: Unemployment and Inflation
- Economics 20: Monetary and Fiscal Policy
- Personal Finance 1: Financial decision-making
- Personal Finance 2: Income and careers
- Personal Finance 3: Money management
- Personal Finance 4: Credit and debt
- Personal Finance 5: Risk and insurance
- Personal Finance 6: Saving and investing
Related Resources:
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