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Chapters

This textbook is organized into 14 chapters covering 206 concepts.

Chapter Overview

  1. What is Economics? - Introduces the fundamental concepts of economics including scarcity, opportunity cost, and economic systems.

  2. Demand and Consumer Behavior - Explores demand, utility theory, and how consumers make choices.

  3. Supply and Production - Covers supply, production functions, costs, and profit maximization.

  4. Market Equilibrium and Price Mechanisms - Examines how supply and demand interact to determine prices.

  5. Market Structures and Competition - Analyzes different market structures from perfect competition to monopoly.

  6. Market Failures and Public Economics - Explores externalities, public goods, and government intervention.

  7. Measuring the Economy: GDP and Growth - Introduces GDP calculation, economic growth, and living standards.

  8. Employment and Unemployment - Covers the labor market and types of unemployment.

  9. Inflation and the Business Cycle - Examines price changes, inflation, and economic cycles.

  10. Money and Banking - Introduces the monetary system, banks, and the Federal Reserve.

  11. Fiscal and Monetary Policy - Covers government economic policy tools.

  12. International Trade and Globalization - Explores global economics, trade theory, and exchange rates.

  13. Personal Finance and Investment - Provides practical financial literacy and investment basics.

  14. The Digital Economy and Capstone Projects - Examines digital economics and guides capstone projects.

How to Use This Textbook

This textbook is designed for sequential learning. Each chapter builds on concepts from earlier chapters, following a carefully structured learning path based on concept dependencies. Foundation concepts in early chapters provide the building blocks for understanding more advanced topics later.

While you can explore individual topics of interest, completing chapters in order ensures you have the prerequisite knowledge for each new concept.

Note: Each chapter includes a list of concepts covered. Make sure to complete prerequisites before moving to advanced chapters.