David K.H. Begg, Gianluigi Vernasca-Economics-McGraw Hill Higher Education (2011)

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Page 1: • David Begg, Gianluigi Vernasca,
Page 4 and 5: Economics 10th Edition David Begg,
Page 7 and 8: Brief Table of Contents Preface xii
Page 9 and 10: 5 Consumer choice and demand decisi
Page 11 and 12: PART FOUR Macroeconomics l 5 Introd
Page 13 and 14: PART FIVE The world economy 28 Inte
Page 15 and 16: Changes to the tenth edition After
Page 17 and 18: Guided tour In addition to illustra
Page 19 and 20: Aiding Understanding Hy the end of
Page 21 and 22: Rent ceiling in Sweden* More on pri
Page 23 and 24: 13 General vs partial equilibrium:
Page 25 and 26: 26 Growth and competition* Case Neo
Page 27: Cl INSTRUCTORS ... Would you like y
Page 31 and 32: Custom Publishing Solutions • cre
Page 33 and 34: Acknowledgements for the tenth edit
Page 35 and 36: Finally, special thanks to the foll
Page 38: ---.. . - Introduction Economics is
Page 41 and 42: CHAPTER 1 Economics and the economy
Page 59 and 60: Learning Outcomes By the end of thi
Page 61 and 62: CHAPTER 2 Tools of economic analysi
Page 79 and 80:
Learning Outcomes By the end of thi
Page 81 and 82:
CHAPTER 3 Demand, supply and the ma
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4.1 The price responsiveness of dem
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4.2 Price, quantity demanded and to
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4.2 Price, quantity demanded and to
Page 114 and 115:
4.4 Short run and long run simultan
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4.6 The effect of income on demand
Page 118 and 119:
4.6 The effect of income on demand
Page 120 and 121:
4.8 Elasticity of supply The elasti
Page 122 and 123:
4.9 Who really pays the tax? S' - G
Page 124 and 125:
Summary What are the effects of the
Page 126 and 127:
Review questions 5 Common fallacies
Page 128 and 129:
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5.1 Demand by a single consumer is
Page 132 and 133:
5.1 Demand by a single consumer Ill
Page 134 and 135:
5.1 Demand by a single consumer QF
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5.1 Demand by a single consumer whe
Page 138 and 139:
5.1 Demand by a single consumer How
Page 140 and 141:
5.2 Adjustment to income changes ou
Page 142 and 143:
5.3 Adjustment to price changes and
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5.3 Adjustment to price changes Thi
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5.3 Adjustment to price changes imp
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5.3 Adjustment to price changes Q '
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5.5 Complements and substitutes it
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5.6 Transfers in kind that to the s
Page 154 and 155:
Review questions • The market dem
Page 156 and 157:
Our theory of consumer choice assum
Page 158 and 159:
APPENDIX Consumer choice with measu
Page 160 and 161:
6.2 A firm's accounts A sole trader
Page 162 and 163:
6.2 A firm's accounts Inventories I
Page 164 and 165:
6.2 A firm's accounts Earnings When
Page 166 and 167:
6.4 Corporate finance and corporate
Page 168 and 169:
6.5 The firm's supply decision Tabl
Page 170 and 171:
6.6 Marginal cost and marginal reve
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6. 7 Marginal cost and marginal rev
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Review questions in total cost when
Page 180 and 181:
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7.2 Production in the short run: di
Page 184 and 185:
7.2 Production in the short run: di
Page 186 and 187:
7.3 Short-run costs As you can see
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7.3 Short-run costs 60 50 SMC - 40
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7.3 Short-run costs down average co
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7.4 A firm's output decision in the
Page 194 and 195:
7.6 Long-run total, marginal and av
Page 196 and 197:
7. 7 Returns to scale - "O 0 DI ..
Page 198 and 199:
7. 7 Returns to scale Scale economi
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7. 7 Returns to scale Table 7.10 Mi
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--1-----1 7.8 The firm's long-run o
Page 204 and 205:
Summary Summary • This chapter di
Page 206 and 207:
Review questions 8 Suppose that fir
Page 208 and 209:
8.1 Perfect competition Perfect com
Page 210 and 211:
8.2 A perfectly competitive firm's
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8.2 A perfectly competitive firm's
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8.3 Industry supply curves In the s
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8.4 Comparative statics for a compe
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.. 8.6 Profit-maximizing output for
Page 220 and 221:
8.6 Profit-maximizing output for a
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8. 7 Output and price under monopol
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8. 7 Output and price under monopol
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8.8 A monopoly has no supply curve
Page 228 and 229:
8.9 Monopoly and technical change f
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8.10 Natural monopoly 'ti QI 0 :I P
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Review questions • Adding at each
Page 234 and 235:
Page 236 and 237:
9 .1 Why market structures differ D
Page 238 and 239:
9 .1 Why market structures differ T
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9.3 Oligopoly and interdependence A
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9.3 Oligopoly and interdependence T
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9.4 Game theory and interdependent
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9.5 Reaction functions demand curve
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9.5 Reaction functions Deriving the
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9.5 Reaction functions Mergers and
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9.5 Reaction functions The Stackelb
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9.7 Strategic entry deterrence Inno
Page 256 and 257:
9.8 Summing up Barriers at the chec
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Review questions Review questions c
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Page 262 and 263:
I 0.1 The firm's demand for factors
Page 264 and 265:
10.2 The firm's demand for labour i
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10.3 The industry demand curve for
Page 268 and 269:
10.4 The supply of labour Table 10.
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10.4 The supply of labour A reducti
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10.5 Industry labour market equilib
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10.5 Industry labour market equilib
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10.6 Transfer earnings and economic
Page 278 and 279:
10. 7 Do labour markets clear? Mini
Page 280 and 281:
10. 7 Do labour markets clear? How
Page 282 and 283:
10.8 UK wages and employment Table
Page 284 and 285:
Summary reducing demand for both fa
Page 286 and 287:
Review questions In a graph with th
Page 288 and 289:
APPENDIX Isoquants and the choice o
Page 290 and 291:
Page 292 and 293:
11.2 Rentals, interest rates and as
Page 294 and 295:
Page 296 and 297:
Page 298 and 299:
11.3 Saving, investment and the rea
Page 300 and 301:
11. 5 The supply of capital service
Page 302 and 303:
11.6 Equilibrium and adjustment in
Page 304 and 305:
11.8 Land and rents supply of skill
Page 306 and 307:
11.9 Income distribution in the UK
Page 308 and 309:
Summary of average earnings. As liv
Page 310 and 311:
Review questions the quantity of ca
Page 312 and 313:
Page 314 and 315:
12.l Individual attitudes to risk S
Page 316 and 317:
12.2 Insurance and risk Life assura
Page 318 and 319:
12.3 Asymmetric information The uti
Page 320 and 321:
12.3 Asymmetric information Executi
Page 322 and 323:
12.4 Uncertainty and asset returns
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12.5 Portfolio selection We use the
Page 326 and 327:
12.5 Portfolio selection Conversely
Page 328 and 329:
12.6 Efficient asset markets Beta i
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12.6 Efficient asset markets II Beh
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12. 7 More on risk You own a copper
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12.8 E-products 100 80 60 - - - - -
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12.8 E-products If Britain had to s
Page 338 and 339:
Summary Britannica shelved Serious
Page 340 and 341:
Review questions 4 You set up a fir
Page 342:
Welfa re economics Normative or wel
Page 345 and 346:
CHAPTER 13 Welfare economics Welfar
Page 347 and 348:
CHAPTER 13 Welfare economics Perfec
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CHAPTER 13 Welfare economics margin
Page 351 and 352:
CHAPTER 13 Welfare economics II) E
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CHAPTER 13 Welfare economics have c
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CHAPTER 13 Welfare economics DD Wit
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CHAPTER 13 Welfare economics .. ;
Page 359 and 360:
CHAPTER 13 Welfare economics 0 Firm
Page 361 and 362:
CHAPTER 13 Welfare economics Was th
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CHAPTER 13 Welfare economics 0 u -
Page 365 and 366:
CHAPTER 13 Welfare economics benefi
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CHAPTER 13 Welfare economics P' "i
Page 369 and 370:
CHAPTER 13 Welfare economics • Di
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CHAPTER 13 Welfare economics Q MPC
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CHAPTER 14 Government spending and
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15.2 Some facts Annual real output
Page 400 and 401:
15.3 An overview Since profits are
Page 402 and 403:
15.4 National income accounting
Page 404 and 405:
15.4 National income accounting Sav
Page 406 and 407:
15.4 National income accounting phy
Page 408 and 409:
15.4 National income accounting Hou
Page 410 and 411:
15.5 What GNP measures Table l 5.3
Page 412 and 413:
15.5 What GNP measures Table 15.4 N
Page 414 and 415:
15.6 International comparisons Citi
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Page 418 and 419:
Page 420 and 421:
16. l Components of aggregate deman
Page 422 and 423:
16.2 Aggregate demand S =-A + (1 -
Page 424 and 425:
16.3 Equilibrium output C'I ·- c -
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16.4 Another approach: planned savi
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16. 5 A fall in aggregate demand A
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16.7 The paradox of thrift Table 16
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16.8 The role of confidence The cha
Page 434 and 435:
Review questions 2 Suppose the MPC
Page 436 and 437:
17 .2 Government and aggregate dema
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Page 444 and 445:
17.4 Deficits and the fiscal stance
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17.5 Automatic stabilizers and disc
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17 .6 The national debt and the def
Page 450 and 451:
17. 7 Foreign trade and income dete
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17. 7 Foreign trade and income dete
Page 454 and 455:
Summary and employment. In Figure 1
Page 456 and 457:
Review questions 2 The government s
Page 458 and 459:
18. 1 Money and its functions The m
Page 460 and 461:
18.2 Modern banking M_o_d_er_n_ha
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18.3 How banks create money How did
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18.4 Financial crises However, ther
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18.4 Financial crises UK bank inter
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18.5 The traditional theory of mone
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18.6 UK money supply after the 2006
Page 472 and 473:
18. 7 The demand for money flow and
Page 474 and 475:
18. 7 The demand for money Table 18
Page 476 and 477:
Review questions • Financial dere
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19.2 Traditional means of monetary
Page 482 and 483:
19 .3 Lender of last resort Second,
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19.4 Equilibrium in financial marke
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19.5 Monetary control However, more
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19.5 Monetary control UK quantitati
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19. 7 The transmission mechanism AD
Page 492 and 493:
19. 7 The transmission mechanism Wh
Page 494 and 495:
19. 7 The transmission mechanism In
Page 496 and 497:
19. 7 The transmission mechanism He
Page 498 and 499:
Review questions • A higher inter
Page 500 and 501:
Page 502 and 503:
20.2 The IS-LM model T_he_IS_-_L_
Page 504 and 505:
20.2 The IS-LM model Until 2008 mon
Page 506 and 507:
20.3 The IS-LM model in action Fisc
Page 508 and 509:
20.4 Shocks to money demand Hence,
Page 510 and 511:
20.5 The policy mix IS schedule, IS
Page 512 and 513:
20.6 The effect of future taxes Que
Page 514 and 515:
Summary helped explain positive UK
Page 516 and 517:
Review questions IS-LM diagram, rec
Page 518 and 519:
21. l Inflation and aggregate deman
Page 520 and 521:
21.2 Aggregate supply demand. The A
Page 522 and 523:
21.3 Equilibrium inflation AS0 AS,
Page 524 and 525:
21.3 Equilibrium inflation It was c
Page 526 and 527:
21.4 The labour market and wage beh
Page 528 and 529:
21.6 The adjustment process The eco
Page 530 and 531:
21. 7 Sluggish adjustment to shocks
Page 532 and 533:
21.8 Trade-offs in monetary objecti
Page 534 and 535:
21.8 Trade-offs in monetary objecti
Page 536 and 537:
Review questions • In practice, w
Page 538 and 539:
Page 540 and 541:
22. l Money and inflation rises wit
Page 542 and 543:
22.2 Inflation and interest rates N
Page 544 and 545:
22.3 Inflation, money and deficits
Page 546 and 547:
22.4 Inflation, unemployment and ou
Page 548 and 549:
Page 550 and 551:
Page 552 and 553:
22.5 The costs of inflation find th
Page 554 and 555:
22.5 The costs of inflation You los
Page 556 and 557:
22.6 Controlling inflation Without
Page 558 and 559:
22. 7 The Monetary Policy Committee
Page 560 and 561:
Summary 18 16 14 12 10 8 6 4 2 0 He
Page 562 and 563:
Review questions Money growth (%) I
Page 564 and 565:
Page 566 and 567:
23. l The labour market may simply
Page 568 and 569:
23.2 Analysing unemployment The fig
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23.2 Analysing unemployment of an h
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23.3 Explaining changes in unemploy
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Page 576 and 577:
Page 578 and 579:
23.4 Cyclical fluctuations in unemp
Page 580 and 581:
23.5 The cost of unemployment Count
Page 582 and 583:
23.5 The cost of unemployment in th
Page 584 and 585:
Review questions • Most European
Page 586 and 587:
Page 588 and 589:
24.1 The foreign exchange market do
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24.2 Exchange rate regimes ... ii)
Page 592 and 593:
24.3 The balance of payments statis
Page 594 and 595:
24.4 The real exchange rate In row
Page 596 and 597:
24.6 The financial account Table 24
Page 598 and 599:
24.6 The financial account This sec
Page 600 and 601:
24. 7 Internal and external balance
Page 602 and 603:
24.8 The long-run equilibrium real
Page 604 and 605:
Summary This figure is helpful in t
Page 606 and 607:
Page 608 and 609:
Page 610 and 611:
25. l Fixed exchange rates So far,
Page 612 and 613:
25. l Fixed exchange rates Gordon B
Page 614 and 615:
25. l Fixed exchange rates A shock
Page 616 and 617:
25.3 Devaluation 1 .., Devaluation
Page 618 and 619:
25.3 Devaluation Table 25.1 The 196
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25.4 Floating exchange rates UK. Af
Page 622 and 623:
25.5 Monetary and fiscal policy und
Page 624 and 625:
25.5 Monetary and fiscal policy und
Page 626 and 627:
Summary Summary • With a fixed ex
Page 628 and 629:
Review questions 11 The following t
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26. 1 Economic growth Table 26.1 Re
Page 632 and 633:
26.2 Growth: an overview In the lon
Page 634 and 635:
26.3 Technical knowledge Learning b
Page 636 and 637:
26.4 Growth and accumulation increa
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26.5 Growth through technical progr
Page 640 and 641:
26.6 Growth in the OECD II : e!p ;:
Page 642 and 643:
26.6 Growth in the OECD Within the
Page 644 and 645:
26.6 Growth in the OECD Annual real
Page 646 and 647:
26.8 The costs of growth rate g? If
Page 648 and 649:
Review questions • Potential outp
Page 650 and 651:
Page 652 and 653:
2 7 .1 Trend and cycle: statistics
Page 654 and 655:
27.2 Theories of the business cycle
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27.2 Theories of the business cycle
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.. 27.2 Theories of the business cy
Page 660 and 661:
27 .3 Real business cycles provides
Page 662 and 663:
27.4 Towards a consensus: supply-si
Page 664 and 665:
27.5 An international business cycl
Page 666 and 667:
Review questions • Some swings in
Page 668:
The world economy Part Five focuses
Page 671 and 672:
CHAPTER 28 International trade Is t
Page 673 and 674:
CHAPTER 28 International trade Tabl
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CHAPTER 28 International trade The
Page 677 and 678:
CHAPTER 28 International trade Comp
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CHAPTER 28 International trade Conv
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CHAPTER 28 International trade Fanc
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CHAPTER 28 International trade The
Page 685 and 686:
CHAPTER 28 International trade High
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CHAPTER 28 International trade thei
Page 689 and 690:
CHAPTER 28 International trade Of c
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CHAPTER 28 International trade Conc
Page 693 and 694:
CHAPTER 28 International trade SS
Page 695 and 696:
CHAPTER 28 International trade 7 Wh
Page 697 and 698:
CHAPTER 29 Exchange rate regimes Ta
Page 699 and 700:
CHAPTER 29 Exchange rate regimes co
Page 701 and 702:
CHAPTER 29 Exchange rate regimes re
Page 703 and 704:
CHAPTER 29 Exchange rate regimes 0.
Page 705 and 706:
CHAPTER 29 Exchange rate regimes It
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CHAPTER 29 Exchange rate regimes Ta
Page 709 and 710:
CHAPTER 29 Exchange rate regimes 0
Page 711 and 712:
CHAPTER 29 Exchange rate regimes th
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Page 715 and 716:
Page 717 and 718:
CHAPTER 29 Exchange rate regimes
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Activity 1.1 (a) (b) Activity 2.1 (
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Answers to activity questions Activ
Page 724 and 725:
Answers to activity questions Activ
Page 726 and 727:
Absolute advantage an individual, c
Page 728 and 729:
Glossary Demand for money a demand
Page 730 and 731:
Glossary Gross domestic product (GD
Page 732 and 733:
Glossary Marginal product the margi
Page 734 and 735:
Glossary Percentage change the abso
Page 736 and 737:
Glossary Sole trader a business own
Page 738 and 739:
A absolute advantage 11-12 internat
Page 740 and 741:
Index commodity composition of trad
Page 742 and 743:
Index elasticity of supply 82-4 ele
Page 744 and 745:
Index happiness 594 new products 59
Page 746 and 747:
Index Laffer curve supply-side econ
Page 748 and 749:
Index exports 369 foreign countries
Page 750 and 751:
Index reading diagrams 34-5 real bu
Page 752 and 753:
Index future taxes effect 475-7 gov
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David K.H. Begg, Gianluigi Vernasca-Economics-McGraw Hill Higher Education (2011)

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