What Every Economics Student Needs to Know and Doesn't Get in the Usual Principles Text

What Every Economics Student Needs to Know and Doesn't Get in the Usual Principles Text

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This short book explores a core group of 40 topics that tend to go unexplored in an Introductory Economics course. Though not a replacement for an introductory text, the work is intended as a supplement to provoke further thought and discussion by juxtaposing blackboard models of the economy with empirical observations. Each chapter starts with a short qrefresherq of standard neoclassical economic modelling before getting into real world economic life. Komlos shows how misleading it can be to mechanically apply the perfect competition model in an oligopolistic environment where only an insignificant share of economic activity takes place in perfectly competitive conditions. Most economics texts introduce the notion of oligopoly and differentiate it from the perfect competition model with its focus on qprice takers.q Komlos contends that oligopolies are qprice makersq like monopolies and cause consumers and economies nearly as much harm. Likewise, most textbook authors eschew any distortions of market pricing by government, but there is usually little discussion of the real impact of minimum wages, which Komlos corrects. The book is an affordable supplement for all basic economics courses or for anyone who wants to review the basic ideas of economics with clear eyes.4. Is the price of pizza the same everywhere in your town? 5. Is there a product whose price is uniform throughout your town? 6. Do you know of any perfectly ... What do you think the difference is between the Apple 4S, Apple 5, and Apple 5S iPhone? Can you tell the ... The person handling the loan had great difficulty following the written instructions she received from headquarters. She had to call foranbsp;...


Title:What Every Economics Student Needs to Know and Doesn't Get in the Usual Principles Text
Author: John Komlos
Publisher:Routledge - 2015-07-17
ISBN-13:

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