Understanding Economic Equilibrium

Book description

Understanding Economic Equilibrium reveals how all markets fit together, and how we as individuals fit into that bigger picture.

Economic agents all over the world are trying to maximize their returns given their efforts, resources, and opportunities. They come together in markets that ultimately allocate goods and services among many competing interests. We can readily see how individual markets behave; it’s more difficult, but exponentially more important, to recognize the general equilibrium across all markets. Disturbances in one market have implications for others.

These interrelationships are particularly important to understand when policy changes are being considered where actions in one market will impose changes on other markets, and not always in obvious or pleasant ways. Understanding Economic Equilibrium reveals how all markets fit together, and how we as individuals fit into that bigger picture.

Table of contents

  1. Cover
  2. Half-Title Page
  3. Title Page
  4. Copyright
  5. Description
  6. Contents
  7. Preface
  8. Acknowledgement
  9. Part I The Equilibrium Principle: A Natural Dynamic State
    1. Chapter 1 What Happens There Matters Here
    2. Chapter 2 It’s the Global Economy
    3. Chapter 3 Politics and the Economy
  10. Part II GDP and Consumption
    1. Chapter 4 GDP: The Perfectly Imperfect Measurement
    2. Chapter 5 Consumers and Consumption: Follow the Money
    3. Chapter 6 Shifting Sands: Consumers Prefer Services
    4. Chapter 7 Great Expectations
    5. Chapter 8 Saving and Investing: Equilibrium at Work
    6. Chapter 9 Real Estate: Is It Still Location, Location, Location?
    7. Chapter 10 Lighten Up: Capital Expenditure and Intellectual Property
    8. Chapter 11 Inventories: The Buffer Between Production and Consumption
    9. Chapter 12 State and Local Governments: Where Spending Gets Done
    10. Chapter 13 Stabilization and Procyclicality: How Governments Balance Spending With Taxes
    11. Chapter 14 Federal Spending: Budgets and Deficit Spending
    12. Chapter 15 Jimmy Stewart, Oz, and the Road to a Federal Reserve
    13. Chapter 16 The Stop Sign (or Toll Booth) at the Border: Trade and Tariffs
    14. Chapter 17 The Compensation Principle: Should We Pay the Losers?
    15. Chapter 18 Domestic Imbalance: A Role for Trade Balances
    16. Chapter 19 As the World Turns
  11. Part III The Economy and You
    1. Chapter 20 COVID-19: How the Pandemic Changed Business
    2. Chapter 21 Climate Change: “Is It Hot in Here or Is It Me?” (Joan of Arc)
    3. Chapter 22 Health Care Costs: A Steady Climb
    4. Chapter 23 First Fridays: Monthly Job Reports
    5. Chapter 24 A Shrinking Workforce: Jobs and Work in the Twenty-First Century
    6. Chapter 25 Wages: Minimum and More
    7. Chapter 26 Measuring Prices: How Much Is a Dollar?
    8. Chapter 27 Productivity and Wages: What We Make for What We Earn
    9. Chapter 28 Money Illusion: The Distinction Between Income and Buying Power
    10. Chapter 29 Baumol Cost Disease: The Relationship Between Wages and Productivity
    11. Chapter 30 Exchange Rates and Purchasing Power
    12. Chapter 31 The Fed’s Job: A Stable Economy
    13. Chapter 32 What the Financial Markets Reveal
    14. Chapter 33 The Yield Curve: What Is It Saying?
    15. Chapter 34 The Dollar Versus Everything Else
    16. Chapter 35 Buy Low, Sell High: Efficient Markets
    17. Chapter 36 An Expert Wife’s Advice
  12. Epilogue
  13. Glossary of Terms
  14. About the Authors
  15. Index
  16. Backcover

Product information

  • Title: Understanding Economic Equilibrium
  • Author(s): Thomas J. Cunningham, Mike Shaw
  • Release date: May 2021
  • Publisher(s): Business Expert Press
  • ISBN: 9781637420393