Economic analysis of social issues:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Boston [ u.a.]
Pearson
2016
|
| Schriftenreihe: | The Pearson series in economics
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | Includes index |
| Beschreibung: | XXXV, 503 S. Ill., graph. Darst. |
| ISBN: | 9780133023039 0133023036 |
Internformat
MARC
| LEADER | 00000nam a2200000 c 4500 | ||
|---|---|---|---|
| 001 | BV042380876 | ||
| 003 | DE-604 | ||
| 005 | 20150527 | ||
| 007 | t | ||
| 008 | 150226s2016 xxuad|| |||| 00||| eng d | ||
| 010 | |a 014043326 | ||
| 020 | |a 9780133023039 |c pbk. |9 978-0-13-302303-9 | ||
| 020 | |a 0133023036 |9 0-13-302303-6 | ||
| 035 | |a (OCoLC)915579087 | ||
| 035 | |a (DE-599)BVBBV042380876 | ||
| 040 | |a DE-604 |b ger |e aacr | ||
| 041 | 0 | |a eng | |
| 044 | |a xxu |c US | ||
| 049 | |a DE-11 | ||
| 050 | 0 | |a HB99.3 | |
| 082 | 0 | |a 361 |2 23 | |
| 084 | |a QC 300 |0 (DE-625)141265: |2 rvk | ||
| 100 | 1 | |a Grant, Alan P. |e Verfasser |0 (DE-588)171815297 |4 aut | |
| 245 | 1 | 0 | |a Economic analysis of social issues |c Alan Grant |
| 264 | 1 | |a Boston [ u.a.] |b Pearson |c 2016 | |
| 300 | |a XXXV, 503 S. |b Ill., graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 0 | |a The Pearson series in economics | |
| 500 | |a Includes index | ||
| 650 | 4 | |a Gesellschaft | |
| 650 | 4 | |a Wirtschaft | |
| 650 | 4 | |a Wirtschaftsentwicklung | |
| 650 | 4 | |a Welfare economics | |
| 650 | 4 | |a Social choice | |
| 650 | 4 | |a Economic development |x Social aspects | |
| 650 | 4 | |a Economics |x Sociological aspects | |
| 856 | 4 | 2 | |m HBZ Datenaustausch |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027816968&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-027816968 | ||
Datensatz im Suchindex
| _version_ | 1804153023546523648 |
|---|---|
| adam_text | Titel: Economic analysis of social issues
Autor: Grant, Alan P
Jahr: 2016
Preface xxvii
The Basic Building Blocks
Fundamental Concepts
in Economics 1
What Is Economics? 2
Key Features of an Economy 2
The Two Key Questions Every Economy Must
Answer: What Gets Produced? And for
Whom? 3
Key Principles of Economics: Scarcity,
Trade-offs, and Opportunity Costs 4
Scarcity 4
Trade-offs and Opportunity Costs 4
¦ Application 1.1 Even Superheroes Face
Trade-offs 6
Government, Public Policy, and Trade-offs 7
¦ Application 1.2 Rolling Out the Barrels, North
Korean Style 8
Key Principle of Economics: People Respond
to Incentives 9
¦ Application 1.3 Dying to Save Taxes 10
A Brief Introduction to Collective Action
Problems 11
How Economists Analyze Economic
Issues 12
Positive and Normative Economics 12
The Benevolent Social Planner and the Best Use
of Scarce Resources 13
Conclusion 13
CHAPTER SUMMARY AND PROBLEMS 14
1.1 WHAT IS ECONOMICS? 14
1.2 KEY PRINCIPLES OF ECONOMICS: SCARCITY,
TRADE-OFFS, AND OPPORTUNITY COSTS 15
1.3 KEY PRINCIPLE OF ECONOMICS: PEOPLE
RESPOND TO INCENTIVES 16
1.4 A BRIEF INTRODUCTION TO COLLECTIVE
ACTION PROBLEMS 16
1.5 HOW ECONOMISTS ANALYZE ECONOMIC
ISSUES 17
EXPERIMENT: TUE ULTIMATUM GAME: ARE
YOU GENEROUS OR GREEDY? 18
APPENDIX: Supply and Demand 19
Demand 20
Supply 21
Equilibrium 21
Changes in Supply and Demand 23
Factors That Shift Supply and Demand 26
Factors That Shift the Demand Curve 26
Factors That Shift the Supply Curve 27
Putting the Pieces Together 28
The Price Elasticity of Supply and Demand 29
APPENDIX SUMMARY AND PROBLEMS 32
1A.1 DEMAND 32
1A.2 SUPPLY 32
1A.3 EQUILIBRIUM 33
1A.4 CHANGES IN SUPPLY AND DEMAND 33
1 A.5 FACTORS THAT SHIFT SUPPLY AND DEMAND 34
1 A.6 THE PRICE ELASTICITY OF SUPPLY AND
DEMAND 35
Cost-Benefit Analysis and the Value
of a Life 36
Cost-Benefit Analysis 37
Cost-Benefit Analysis: The Basics 37
Using Cost-Benefit Analysis to Select Among
Competing Alternatives 37
Evaluating Alternatives at the Margin 38
S Application 2.1 Cost-Benefit Analysis and the
Tobacco Settlement 39
Applying Cost-Benefit Analysis to Life 40
Corporations Do It: The Ford Pinto 40
You Do It: Exposing Yourself and Others to
Risk 41
Using Cost-Benefit Analysis to Determine an
Appropriate Level of Safety 41
Application 2.2 What Is the Value of a Child
Safety Seat? 42
Problems and Pitfalls of Cost-Benefit Analysis
When Life Is Involved 44
Mistakes in Estimating Risk 44
¦ Application 2.3 Better Safe Than Sorry? 46
Mistakes in Estimating the True Value of a Life 47
Approaches to Valuing a Life 47
The Lost-Income Approach 47
The Compensating Differential Approach 48
Conclusion 50
CHAPTER SUMMARY AND PROBLEMS 50
2.1 COST-BENEFIT ANALYSIS 51
2.2 APPLYING COST-BENEFIT ANALYSIS
TO LIFE 51
2.3 USING COST-BENEFIT ANALYSIS
TO DETERMINE AN APPROPRIATE LEVEL
OF SAFETY 52
2.4 PROBLEMS AND PITFALLS OF
COST-BENEFIT ANALYSIS WHEN
LIFE IS INVOLVED 53
2.5 APPROACHES TO VALUING A LIFE 54
EXPERIMENT: THE DICTATOR GAME 55
Basic Game Theory: Games
Between Two Players 56
What Is Game Theory? 57
The Basic Structure of Games 58
Setting Up a Game 58
Nash Equilibrium 60
Strategies for Finding Equilibria 60
The People Behind the Theory John Nash 61
The Basic Types of Games 63
Prisoner s Dilemma Games 63
Pure Coordination Games 64
¦ Application 3.1 Game Theory and the Tobacco
Advertising Ban 65
Assurance Games 69
Battle of the Sexes Games 70
Application 3.2 Meeting Your Problems
Head On 71
Games of Chicken 72
Conclusion 74
CHAPTER SUMMARY AND PROBLEMS 74
3.1 WHAT IS GAME THEORY? 74
3.2 THE BASIC STRUCTURE OF GAMES 74
3.3 THE BASIC TYPES OF GAMES 76
EXPERIMENT: THE PUSH-PULL
GAME 78
Game Theory: Games Between
Three or More Players 79
Introduction to Three-Player Games 80
Finding Nash Equilibria in Three-Player
Games 82
Dominance in Three-Player Games 82
Best-Response Analysis in Three-Player Games 83
Application 4.1 Blondes Have Less Fun: Game
Theory in A Beautiful Mind 85
Depicting Games with More Than Three
Players 87
Finding Equilibria in Games with More Than
Three Players 88
Application 4.2 Breaking Facebook s
Stranglehold 92
Conclusion 93
CHAPTER SUMMARY AND PROBLEMS 93
4.1 INTRODUCTION TO THREE-PLAYER GAMES 93
4.2 FINDING NASH EQUILIBRIA IN THREE-PLAYER
GAMES 94
4.3 DEPICTING GAMES WITH MORE THAN THREE
PLAYERS 94
4.4 FINDING EQUILIBRIA IN GAMES WITH MORE
THAN THREE PLAYERS 95
EXPERIMENT THE RED-GREEN GAME 97
Markets and Government: A Recipe for
Producing Wealth
Free Exchange: Individual
and International Trade 98
Comparative Advantage, Exchange, and
Wealth Creation 99
Comparative Advantage and Specialization:
Catalysts for Exchange 99
Exchange and Cooperative Surplus 101
Cooperative Surplus as a Measure of Wealth
Creation 102
Application 5.1 The Globalization of Wine—Our
Cups Runneth Over 103
The People Behind the Theory Adam Smith 104
Restrictions on Free Exchange 105
Taxes 105
Deadweight Losses 106
Subsidies 107
Application 5.2 Something Stinks in Louisiana s
Floral-Arranging Industry 108
International Trade and Not-So-Free
Exchange 109
Tariffs 110
Quotas 112
Application 5.3 Chickens, Turkey, and the Transit
Connect 113
Conclusion 114
CHAPTER SUMMARY AND PROBLEMS 114
5.1 COMPARATIVE ADVANTAGE, EXCHANGE,
AND WEALTH CREATION 115
5.2 RESTRICTIONS ON FREE EXCHANGE 115
5.3 INTERNATIONAL TRADE AND NOT-SO-FREE
EXCHANGE 116
EXPERIMENT: THE GAINS-FROM-TRADE
GAME 118
The Market System: Functions,
Structure, and Institutions 119
The Market System: Its Functions and
Structure 120
Markets Are More Than Places to Trade 120
Market Structures 120
The Four Functions of Prices in the Market
System 122
Measuring Desire 122
Reflecting Scarcity 122
A Means of Communication 122
Coordinating Production Decisions 123
The Foundations of Well-Functioning
Markets: A Role for Government 124
Competition 124
Plonesty 126
Application 6.1 Enforcing Flonesty in India:
Justice Delayed and Justice Denied 127
Information 128
Property Rights 130
Application 6.2 Private Property and the
Pilgrims Progress 132
Connecting Effort and Reward: An
Illustration 132
Application 6.3 Property Rights and the
Chinese Agricultural Revolution 134
Conclusion 135
CHAPTER SUMMARY AND PROBLEMS 135
6.1 THE MARKET SYSTEM: ITS FUNCTIONS
AND STRUCTURE 136
6.2 THE FOUR FUNCTIONS OF PRICES
IN THE MARKET SYSTEM 136
6.3 THE FOUNDATIONS OF WELL-FUNCTIONING
MARKETS: A ROLE FOR GOVERNMENT 137
6.4 CONNECTING EFFORT AND REWARD: AN
ILLUSTRATION 138
EXPERIMENT: CAPITALISM AND
COMMUNISM GAMPS 140
Part 3
The Environment: Property Rights,
Transactions Costs, and the Role of
Government
The Nature of Pollution Problems 141
Externalities 142
Negative Externalities 142
Application 7.1 Property Values and
Megan s Law 143
Positive Externalities 143
Pollution Problems (Negative Externalities)
and Disagreements over the Competing
Uses of Scarce Resources 144
How Much Pollution Is the Right Amount of
Pollution? 145
The Benevolent Social Planner and the Socially
Optimal Amount of Pollution 145
The Law, Bargaining, and the Socially Optimal
Amount of Pollution 145
Application 7.2 The Salk Vaccine Versus the
Sabin Vaccine 147
The Coase Theorem 148
Application 7.3 The Nature Conservancy 149
The Coase Theorem, Applied 150
The Coase Theorem: A Second Example 150
Why the Coase Theorem May Not Work:
Transactions Costs 151
Conclusion 152
The People Behind the Theory Ronald Coase 153
CHAPTER SUMMARY AND PROBLEMS 154
7.1 EXTERNALITIES 154
7.2 POLLUTION PROBLEMS (NEGATIVE
EXTERNALITIES) AND DISAGREEMENTS
OVER THE COMPETING USES OF SCARCE
RESOURCES 155
7.3 HOW MUCH POLLUTION IS THE RIGHT
AMOUNT OF POLLUTION? 155
7.4 THE COASE THEOREM 156
7.5 WHY THE COASE THEOREM MAY
NOT WORK: TRANSACTIONS COSTS 157
EXPERIMENT: THE HERD IMMUNITY
GAME 158
Government Policies to Regulate
Pollution 159
Four Major Types of Transactions Costs 160
Search Costs 160
Collectivization Costs 161
Negotiation Costs 162
Monitoring and Enforcement Costs 162
Regulating Pollution in an Ideal World 163
Principle 1: Regulation is Necessary Only
When Transactions Costs Preclude Bargaining
Between Polluter and Victim 163
Principle 2: The Regulation Should Achieve the
Outcome the Affected Parties Would Have
Reached Had Transactions Costs Not Been So
High 164
Principle 3: The Regulation Should Be Designed
to Make the Polluter Internalize the Cost of the
Externality 164
Principle 4: Eliminating Pollution Entirely Should
Not Be the Goal of Regulation 165
Application 8.1 Alternative Approaches to
Reducing Auto Emissions 166
Tools Governments Use to Regulate
Pollution 167
Taxes 167
Application 8.2 Dealing with Climate Change 168
Subsidies 169
Cap-and-Trade Systems 171
Conclusion 173
CHAPTER SUMMARY AND PROBLEMS 174
8.1 FOUR MAJOR TYPES OF TRANSACTIONS
COSTS 174
8.2 REGULATING POLLUTION IN AN IDEAL
WORLD 175
8.3 TOOLS GOVERNMENTS USE TO REGULATE
POLLUTION 176
EXPERIMENT: THE JUDGE-ME-NOT
GAME 178
Resource Depletion and
Sustainability 179
Will the World Run Out of Oil? 180
Depicting the World s Supply of Oil 180
Depletion and the Role of Prices 181
What Resources Are in Danger of
Depletion? 184
Application 9.1 How to Turn a Rhino into a
Chicken 185
The Tragedy of the Commons 186
The Tragedy of the Commons: An
Illustration 186
Application 9.2 Good to the Last Drop 187
Depletion and Pollution: Mirror Images of the
Same Problem 188
How Can Society Fix Depletion Problems? 188
Restricting the Access to Endangered Resources
and Their Use 188
Creating Absolute Property Rights 189
Application 9.3 Not Just a Fish Tale: Cap-and-
Trade Brings Fisheries Back from the Brink 190
Conclusion 191
The People Behind the Theory Elinor Ostrom 192
CHAPTER SUMMARY AND PROBLEMS 193
9.1 WILL THE WORLD RUN OUT OF OIL? 193
9.2 WHAT RESOURCES ARE IN DANGER OF
DEPLETION? 194
9.3 THE TRAGEDY OF THE COMMONS 194
9.4 HOW CAN SOCIETY FIX DEPLETION
PROBLEMS? 195
EXPERIMENT: TIIE GONE FISHING
GAME 196
Public Goods and the Public Sector
Public Goods and the Role of
Government 197
Public Versus Private Goods 198
Rival and Nonrival Goods 199
Excludable and Nonexcludable Goods 199
Four Different Classes of Goods 199
How Nonexcludability Leads to Free Riding
and the Public Goods Problem 200
Application 10.1 The Not-So-Friendly Confines
of Wrigley Field 201
The Free Ridership Game 202
The Public Goods Problem 204
Property Rights and the Public Goods
Problem 204
How Governments Can Overcome the Public
Goods Problem 205
Government s Tax Powers and Free
Ridership 205
Application 10.2 Paying for Big Sugar s Sweet
Deal 206
Some General Guidelines for the Government
Provision of Public Goods 207
Application 10.3 Government-Provided Salt in
Turkmenistan 209
Conclusion 209
CHAPTER SUMMARY AND PROBLEMS 210
10.1 PUBLIC VERSUS PRIVATE GOODS 210
10.2 HOW NONEXCLUDABILITY LEADS TO
FREE RIDING AND THE PUBLIC GOODS
PROBLEM 211
10.3 PROPERTY RIGHTS AND THE PUBLIC
GOODS PROBLEM 212
10.4 HOW GOVERNMENTS CAN
OVERCOME THE PUBLIC GOODS
PROBLEM 212
EXPERIMENT: THE GARDEN GAME 214
Public Goods: Tackling
Large Projects and Eminent
Domain 215
The Role of Individuals in Large
Projects 216
The Holdout Problem 217
Transactions Costs 219
The Role of Government in Large
Projects 219
Takings Power and the Fifth Amendment 219
Conditions for the Use of Eminent
Domain 219
Application 11.1 Steel Company Can t Get
Homeowner to Sell 220
Application 11.2 The Robber Barons of
Merriam, Kansas 223
Conclusion 225
CHAPTER SUMMARY AND PROBLEMS 226
11.1 THE ROLE OF INDIVIDUALS IN LARGE
PROJECTS 226
11.2 THE ROLE OF GOVERNMENT IN LARGE
PROJECTS 226
EXPERIMENT: THE ASK AND YOU MIGHT
RECEIVE GAME 229
The Volunteer s Dilemma: A
Collective Inaction Problem 230
What Is the Volunteer s Dilemma? 231
Application 12.1 Curt Flood Knocks
the Volunteer s Dilemma Out of the
Park 232
If Apathy Doesn t Explain the Volunteer s
Dilemma, What Does? 233
Pluralistic Ignorance 233
Diffusion of Responsibility 233
Application 12.2 Bill Nye, the Science
Guy, Weighs in on the Volunteer s
Dilemma 234
Game Theory and the Volunteer s
Dilemma 237
Mixed-Strategy Games: An Overview 237
Finding the Mixed-Strategy Equilibrium in a
Zero-Sum Game 241
Mixed-Strategy Play and the Volunteer s
Dilemma 242
Overcoming the Volunteer s Dilemma 244
Compulsory Volunteerism 245
Coalition Building and Bargaining 245
Conclusion 245
Application 12.3 Should There Be a Duty to
Rescue? 246
CHAPTER SUMMARY AND PROBLEMS 247
12.1 WHAT IS THE VOLUNTEER S DILEMMA? 247
12.2 IF APATHY DOESN T EXPLAIN THE
VOLUNTEER S DILEMMA, WHAT DOES? 247
12.3 GAME THEORY AND THE VOLUNTEER S
DILEMMA 248
12.4 MIXED-STRATEGY PLAY AND THE
VOLUNTEER S DILEMMA 249
12.5 OVERCOMING THE VOLUNTEER S
DILEMMA 250
EXPERIMENT: THE SAVE FERRIS! GAME 251
Voting: You Can t Always Get What
You Want 252
An Introduction to Voting Methods 253
The Plurality-Rule Method 254
The Condorcet Method 255
The Borda-Count Method 256
The Instant Runoff Method 258
Application 13.1 U.S. Presidential Elections and
the Will of the People 260
Voting Methods and Arrow s Impossibility
Theorem 261
Conventional Political Elections and the
Median Voter Theorem 261
Candidate Positioning and the Median Voter
Theorem 262
Why the Median Voter Theorem Might Fail 264
Application 13.2 Dangerous Voters: Rational,
Irrational, or Both? 265
Strategic Voting and the Order of Events in
Runoff Elections 268
The Agenda Paradox 269
Strategic and Naive Voting 269
Application 13.3 Choosing Planes: Agenda
Influence in the Real World 270
Conclusion 271
CHAPTER SUMMARY AND PROBLEMS 271
13.1 AN INTRODUCTION TO VOTING
METHODS 271
13.2 CONVENTIONAL POLITICAL ELECTIONS AND
THE MEDIAN VOTER THEOREM 272
13.3 STRATEGIC VOTING AND THE ORDER OF
EVENTS IN RUNOFF ELECTIONS 273
EXPERIMENT: LOOKING FOR A
GOLDILOCKS LOCATION 274
Health Care and Discrimination:
Problems of Incomplete Information
The Economics of Health Insurance
and Health Care 275
The Current State of the U.S. Health Care
System 276
Health Care Spending in the United States 276
Health Care Outcomes in the United States 277
An International Comparison of Health Care
Costs and Outcomes 278
Application 14.1 Explaining the Gap in Measured
Health Care Outcomes Between the United
States and Canada 280
Health Care Delivery and Finance
Systems: An International
Comparison 281
The United Kingdom s Nationalized Health
Care System 281
Canada s Single-Payer System 281
Japan s Universal Care System 282
The U.S. Private Health Care Svstem 282
Application 14.2 Why Do Americans
Get Health Insurance from Their
Employers? 283
How Health Care Finance May Affect
the Affordability of Health Care 284
Insurance: The Fundamentals 284
Asymmetric Information and the Adverse
Selection Problem 285
Application 14.3 How Big a Problem Is Adverse
Selection? 288
The Moral Hazard Problem 288
Application 14.4 Using Information to Overcome
Moral Hazard 292
How Pricing Variability May Contribute to High
Health Care Costs 292
Conclusion 294
CHAPTER SUMMARY AND PROBLEMS 295
14.1 THE CURRENT STATE OF THE U.S. HEALTH
CARE SYSTEM 295
14.2 HEALTH CARE DELIVERY AND FINANCE
SYSTEMS: AN INTERNATIONAL
COMPARISON 296
14.3 HOW HEALTH CARE FINANCE MAY AFFECT
THE AFFORDABILITY OF HEALTH CARE 296
EXPERIMENT: THE RESTAURANT GAME 299
Segregation and Discrimination 300
The Segregation of Neighborhoods and
Schelling s Checkerboard 301
Unraveling and Equilibrium 303
Is Neighborhood Segregation Inevitable? 304
Does Your Neighborhood Determine Your
Future Well-Being? 304
The People Behind the Theory Thomas
Schelling 305
The Link Between Neighborhoods and Outcomes:
Correlation or Causation? 305
Moving to Opportunity: A Housing Experiment to
Determine Causation 306
Labor Market Discrimination 308
An Initial Observation: Outcomes Differ Across
Demographic Groups 308
Application 15.1 Can You Avoid Being Short-
changed in the Labor Market? 309
Types of Discrimination in the Labor Market 310
How Discrimination Harms Individuals and
Society 312
How Economists Detect and Measure
Discrimination 312
The Audit Method 312
Regression Analysis 313
Application 15.2 What s in a Name? Comparing
Regression Analysis and Audit Studies in
Detecting Discrimination 315
Anti-Discrimination Legislation 316
Affirmative Action Programs 317
Some Benefits and Costs of Affirmative Action
Programs 318
Conclusion 319
CHAPTER SUMMARY AND PROBLEMS 320
15.1 THE SEGREGATION OF NEIGHBORHOODS
AND SCHELLING S CHECKERBOARD 320
15.2 DOES YOUR NEIGHBORHOOD DETERMINE
YOUR FUTURE WELL-BEING? 320
15.3 LABOR MARKET DISCRIMINATION 321
15.4 HOW ECONOMISTS DETECT AND MEASURE
DISCRIMINATION 322
15.5 ANTI-DISCRIMINATION LEGISLATION 323
EXPERIMENT: SCHELLING S
CHECKERBOARD 324
Part-6
Macroeconomics
Gross Domestic Product and the
Wealth of Nations: An Introduction
to the Macroeconomy 325
Macroeconomics and How It Differs from
Microeconomics 326
Material Weil-Being and Gross Domestic
Product 326
Gross Domestic Product: A Measuring Stick for
Production 327
The Components of GDP and the Expenditures
Approach 329
The Income Approach 332
Nominal GDP and Real GDP 333
How Rising Prices Affect Nominal GDP 333
Adjusting GDP for Increasing Prices: Real GDP 334
Adjusting for a Country s Size and Real GDP per
Capita 334
Shortcomings of GDP 335
GDP Doesn t Include the Underground
Economy 335
GDP Doesn t Include Household Production 336
GDP Doesn t Account for the Value of Leisure 336
GDP Doesn t Account for Economic Bads 337
GDP Reveals Nothing About the Distribution of
Income 337
GDP Redeemed 337
Application 16.1 Don t Care Too Much for
Money 339
Economic Growth 340
How Small Differences in Growth Rates Can
Cause Large Differences in Weil-Being 341
Essential Ingredients for Economic Growth 342
Business Cycles and Recessions 343
Business Cycles and Recessions
Defined 344
Application 16.2 Who Says We re in a
Recession? 345
Supply Shocks as a Cause of Recessions 345
Demand Shocks as a Cause of Recessions 346
Application 16.3 The Origins of the Great
Recession 347
Conclusion 348
CHAPTER SUMMARY AND PROBLEMS 349
16.1 MACROECONOMICS AND
HOW IT DIFFERS FROM
MICROECONOMICS 349
16.2 MATERIAL WELL-BEING AND
GROSS DOMESTIC PRODUCT 349
16.3 NOMINAL GDP AND REAL GDP 350
16.4 SHORTCOMINGS OF GDP 351
16.5 ECONOMIC GROWTH 352
16.6 BUSINESS CYCLES AND
RECESSIONS 353
MYECONLAB REAL-TIME DATA
ACTIVITY: CROSS DOMESTIC
PRODUCT AND BUSINESS CYCLES 354
Unemployment 355
What Is Unemployment? 356
Determining a Person s Lahor Status 356
Calculating the Unemployment Rate 357
Application 17.1 What Caused
the Dramatic Increase in Women s
Labor Force Participation Rates in
the 1970s? 358
Shortcomings of the Measured
Unemployment Rate 359
The Unemployment Rate Doesn t Include People
Who Work Part Time 359
The Unemployment Rate Doesn t Include People
Who Are Underemployed 360
The Unemployment Rate Doesn t Include People
Who Are Discouraged Workers 360
The Unemployment Rate Doesn t Include People
Who Work in the Underground Economy 361
Why Not Fix the Shortcomings of the
Unemployment Rate? 361
Types of Unemployment 362
Frictional Unemployment 362
Structural Unemployment 363
Application 17.2 Mixed Blessing: Unemployment
Insurance Makes the Labor Market Work Better.
And Worse. 367
The Natural Rate of Unemployment 368
Cyclical Unemployment 368
Policy Implications of Unemployment 370
Why the Appropriate Policy Prescription
Depends on the Type of Unemployment 370
Data Issues and the Appropriate Policy
Prescription 371
Application 17.3 Unemployment During the
Great Recession 372
Conclusion 373
CHAPTER SUMMARY AND PROBLEMS 373
17.1 WHAT IS UNEMPLOYMENT? 373
17.2 SHORTCOMINGS OF THE MEASURED
UNEMPLOYMENT RATE 374
17.3 TYPES OF UNEMPLOYMENT 374
17.4 POLICY IMPLICATIONS OF
UNEMPLOYMENT 375
MYECONLAB REAL-TIME DATA ACTIVITY:
UNEMPLOYMENT RATES 377
NOTES 378
An Introduction to Money, Banks,
and the Financial System 379
Money and Its Functions 380
The Medium of Exchange Function 380
The Store of Value Function 380
The Standard of Value Function 381
The Evolution of Money and the Origins of the
Modern Banking System 381
Commodity Money 381
Representative Commodity Money 3 82
Partially Backed Representative Commodity
Money 382
Fiat Money 383
Application 18.1 Funny Money Meets Serious
Need 384
Commercial Banks, Central Banks, and
Money Creation 384
Commercial Banks 385
Central Banks 385
The Banking System and the Money
Supply 385
The Central Bank s Role in Money
Creation 386
The Commercial Banking System s Role in
Money Creation 386
Measuring the Money Supply 387
Financial Instruments and Their
Functions 388
Raising Capital 389
Storing Wealth Across Time 390
Reducing Risk 391
Enabling Speculation 392
Application 18.2 Financial Instruments
and the Origins of the Great Recession 393
Conclusion 394
CHAPTER SUMMARY AND PROBLEMS 395
18.1 MONEY AND ITS FUNCTIONS 395
18.2 THE EVOLUTION OF MONEY AND THE
ORIGINS OF THE MODERN BANKING
SYSTEM 396
18.3 COMMERCIAL BANKS, CENTRAL BANKS,
AND MONEY CREATION 396
18.4 THE BANKING SYSTEM AND THE MONEY
SUPPLY 397
18.5 FINANCIAL INSTRUMENTS AND THEIR
FUNCTIONS 397
MYECONLAB REAL-TIME DATA ACTIVITY:
MONEYAND THE FINANCIAL SYSTEM 399
The Federal Reserve: Monetary
Policy, Economic Activity, and
Inflation 400
The Origins of the Federal Reserve and Its
Tools of Policy 401
Runs, Clearinghouses, Panics, and the Fed 402
Application 19.1 The Fed s Role as a Lender of
Last Resort During the Great Recession 403
The Federal Reserve, Its Tools of Policy, and the
Money Supply 404
The Money Supply, Interest Rates, and
Monetary Policy 406
The Money Supply and Interest Rates 406
Interest Rates and Real Economic Activity 407
The Natural Limits of Monetary Policy 407
Application 19.2 The Fed s Job Is Easing,
but It Isn t Easy 408
When Monetary Policy Is Most Effective 409
The Art and Implementation of Monetary
Policy 409
The Lags of Policy 409
Why the Lags of Policy Make Monetary
Policy Difficult 411
The People Behind the Theory Milton
Friedman 413
Money and Inflation 415
How Is Inflation Calculated? 415
The Link Between Money Growth and
Inflation 416
Application 19.3 Should the
United States Return to the Gold
Standard? 416
The Costs of Inflation 417
The End of Inflation 419
If Inflation Is Bad, Is Deflation Good? 420
Conclusion 421
CHAPTER SUMMARY AND PROBLEMS 421
19.1 THE ORIGINS OF THE FEDERAL
RESERVE AND ITS TOOLS OF
POLICY 421
19.2 THE MONEY SUPPLY, INTEREST RATES,
AND MONETARY POLICY 422
19.3 THE ART AND IMPLEMENTATION OF
MONETARY POLICY 423
19.4 MONEY AND INFLATION 424
MYECONLAB REAL-TIME DATA
ACTIVITY: MONETARY POLICY
AND INFLATION 425
NOTES 426
The Federal Government:
Taxes, Spending, and Fiscal
Policy 427
Government Revenue 428
Payroll Taxes 429
Income Taxes 430
Application 20.1 Why Do Americans
Work So Much? 433
Application 20.2 Big Profits, No Taxes:
Incentives and the Corporate
Tax Code 434
Government Expenditures, Deficits, and
Debt 435
Discretionary Expenditures 435
Mandatory Spending and Entitlements 436
Surpluses, Deficits, and Debt 437
The Future of the Federal Budget 440
Demographic Challenges 440
Meeting Future Demographic Challenges 441
The Federal Government and Fiscal
Stabilization Policy 442
Fiscal Policy: The Basics 442
The Multiplier Effect 443
The People Behind the Theory John Maynard
Keynes 443
Potential Pitfalls of Fiscal Policy 444
Application 20.3 Fiscal Policy During the
Great Recession 446
Conclusion 448
CHAPTER SUMMARY AND PROBLEMS 449
20.1 GOVERNMENT REVENUE 449
20.2 GOVERNMENT EXPENDITURES, DEFICITS,
AND DEBT 450
20.3 THE FUTURE OF THE FEDERAL
BUDGET 451
20.4 THE FEDERAL GOVERNMENT AND
FISCAL STABILIZATION POLICY 452
MYECONLAB REAL-TIME DATA ACTIVITY:
BUDGET DEFICITS AND THE FEDERAL
DEBT 453
NOTES 454
Income Inequality and the
Redistribution of Income 455
How Is Inequality Measured? 456
Means and Medians: A First Step
Toward Measuring Inequality 456
Quintiles: A More Detailed Look at the
Income Distribution 458
Lorenz Curves and Gini Coefficients 458
How Unequal Is the Distribution of
Income in the United States? 461
U.S. Income Inequality, Past and Present 461
U.S. Income Inequality Compared to
Other Countries 463
Are the Rich Getting Richer and the Poor Getting
Poorer in the United States? 464
Is Economic Mobility Decreasing in the United
States? 465
What Are the Causes and Effects of Income
Inequality? 466
Inequality and Productivity 466
Inequality, Globalization, and Technology 467
Inequality, Technology, and Tournament-Style
Markets 467
Inequality and Rent Seeking 468
The Economic Effects of Inequality 468
Application 21.1 Keeping Up with Your
Co-workers Is Important 469
What Is the Role of Government in
Promoting Equality? 470
Philosophical Justifications for
Redistribution 470
Application 21.2 What Does the Ideal
Wealth Distribution Look Like? 472
Progressive Taxation 473
Conclusion 474
CHAPTER SUMMARY AND PROBLEMS 475
21.1 HOW IS INEQUALITY MEASURED? 475
21.2 HOW UNEQUAL IS THE DISTRIBUTION
OF INCOME IN THE UNITED
STATES? 475
21.3 WHAT ARE THE CAUSES AND EFFECTS
OF INCOME INEQUALITY? 476
21.4 WHAT IS THE ROLE OF GOVERNMENT
IN PROMOTING EQUALITY? 477
EXPERIM ENT UNVEILING
IGNORANCE 478
NOTES 479
Glossary 481
Credits 489
Index 491
|
| any_adam_object | 1 |
| author | Grant, Alan P. |
| author_GND | (DE-588)171815297 |
| author_facet | Grant, Alan P. |
| author_role | aut |
| author_sort | Grant, Alan P. |
| author_variant | a p g ap apg |
| building | Verbundindex |
| bvnumber | BV042380876 |
| callnumber-first | H - Social Science |
| callnumber-label | HB99 |
| callnumber-raw | HB99.3 |
| callnumber-search | HB99.3 |
| callnumber-sort | HB 299.3 |
| callnumber-subject | HB - Economic Theory and Demography |
| classification_rvk | QC 300 |
| ctrlnum | (OCoLC)915579087 (DE-599)BVBBV042380876 |
| dewey-full | 361 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 361 - Social problems and services |
| dewey-raw | 361 |
| dewey-search | 361 |
| dewey-sort | 3361 |
| dewey-tens | 360 - Social problems and services; associations |
| discipline | Soziologie Wirtschaftswissenschaften |
| format | Book |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>01505nam a2200445 c 4500</leader><controlfield tag="001">BV042380876</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">20150527 </controlfield><controlfield tag="007">t</controlfield><controlfield tag="008">150226s2016 xxuad|| |||| 00||| eng d</controlfield><datafield tag="010" ind1=" " ind2=" "><subfield code="a">014043326</subfield></datafield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">9780133023039</subfield><subfield code="c">pbk.</subfield><subfield code="9">978-0-13-302303-9</subfield></datafield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">0133023036</subfield><subfield code="9">0-13-302303-6</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)915579087</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV042380876</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">aacr</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="044" ind1=" " ind2=" "><subfield code="a">xxu</subfield><subfield code="c">US</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-11</subfield></datafield><datafield tag="050" ind1=" " ind2="0"><subfield code="a">HB99.3</subfield></datafield><datafield tag="082" ind1="0" ind2=" "><subfield code="a">361</subfield><subfield code="2">23</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">QC 300</subfield><subfield code="0">(DE-625)141265:</subfield><subfield code="2">rvk</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Grant, Alan P.</subfield><subfield code="e">Verfasser</subfield><subfield code="0">(DE-588)171815297</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Economic analysis of social issues</subfield><subfield code="c">Alan Grant</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Boston [ u.a.]</subfield><subfield code="b">Pearson</subfield><subfield code="c">2016</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">XXXV, 503 S.</subfield><subfield code="b">Ill., graph. Darst.</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">The Pearson series in economics</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">Includes index</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Gesellschaft</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Wirtschaft</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Wirtschaftsentwicklung</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Welfare economics</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Social choice</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Economic development</subfield><subfield code="x">Social aspects</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Economics</subfield><subfield code="x">Sociological aspects</subfield></datafield><datafield tag="856" ind1="4" ind2="2"><subfield code="m">HBZ Datenaustausch</subfield><subfield code="q">application/pdf</subfield><subfield code="u">http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027816968&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA</subfield><subfield code="3">Inhaltsverzeichnis</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-027816968</subfield></datafield></record></collection> |
| id | DE-604.BV042380876 |
| illustrated | Illustrated |
| indexdate | 2024-07-10T01:20:01Z |
| institution | BVB |
| isbn | 9780133023039 0133023036 |
| language | English |
| lccn | 014043326 |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-027816968 |
| oclc_num | 915579087 |
| open_access_boolean | |
| owner | DE-11 |
| owner_facet | DE-11 |
| physical | XXXV, 503 S. Ill., graph. Darst. |
| publishDate | 2016 |
| publishDateSearch | 2016 |
| publishDateSort | 2016 |
| publisher | Pearson |
| record_format | marc |
| series2 | The Pearson series in economics |
| spelling | Grant, Alan P. Verfasser (DE-588)171815297 aut Economic analysis of social issues Alan Grant Boston [ u.a.] Pearson 2016 XXXV, 503 S. Ill., graph. Darst. txt rdacontent n rdamedia nc rdacarrier The Pearson series in economics Includes index Gesellschaft Wirtschaft Wirtschaftsentwicklung Welfare economics Social choice Economic development Social aspects Economics Sociological aspects HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027816968&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Grant, Alan P. Economic analysis of social issues Gesellschaft Wirtschaft Wirtschaftsentwicklung Welfare economics Social choice Economic development Social aspects Economics Sociological aspects |
| title | Economic analysis of social issues |
| title_auth | Economic analysis of social issues |
| title_exact_search | Economic analysis of social issues |
| title_full | Economic analysis of social issues Alan Grant |
| title_fullStr | Economic analysis of social issues Alan Grant |
| title_full_unstemmed | Economic analysis of social issues Alan Grant |
| title_short | Economic analysis of social issues |
| title_sort | economic analysis of social issues |
| topic | Gesellschaft Wirtschaft Wirtschaftsentwicklung Welfare economics Social choice Economic development Social aspects Economics Sociological aspects |
| topic_facet | Gesellschaft Wirtschaft Wirtschaftsentwicklung Welfare economics Social choice Economic development Social aspects Economics Sociological aspects |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027816968&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT grantalanp economicanalysisofsocialissues |