Economics plays a part in so many news topics-- both domestically and worldwide-- and the need to know the basics is becoming more and more important. Ideal for both the high school and college student, as well as armchair readers, Idiot's Guides: Economics offers an easy-to-understand exploration of this always-complex topic. Covering both microeconomics and macroeconomics, the book incorporates infographics and illustrations where appropriate to make concepts clear and easy to understand. Economics topics include:- Benefits of Trade- Supply and Demand- Elasticity- Government Intervention in Markets- Market Efficiency- Taxes and the Market- International Trade- Externalities- Public Goods and Common Resources- The Basics of the Tax System- The Costs of Production- Perfect Competition- Monopoly- Tracking the Economy- Unemployment and Inflation- Long-Run Economic Growth- Savings, Investment Spending, and the Financial System- Short-Run Economic Fluctuations- Income and Expenditure- Aggregate Demand and Aggregate Supply- Stabilization Policy- Fiscal Policy- Money, Banking, and the Federal Reserve System- Monetary Policy- Inflation, Disinflation, and DeflationIn addition, such issues as global climate change. the environment, natural disaster recovery, and the social safety net are covered from an economic policy perspective.

Author Biography

Terry Hillman earned a post-graduate diploma in economic principles from the University of London in 2007. She is an author and has been researching economic markets since 2004.