Part I: Economic Models vs. Reality 1. Introduction 2. Markets Are Neither Omniscient nor Omnipotent Part II: Consumption On and Off the Blackboard 3. The Nature of Demand 4. Is There a Rational Economic Decision Maker? 5. Taste Makers and Consumption Part III: Production On and Off the Blackboard 6. Firms and Competition 7. Returns to the Factors of Production 8. The Case for Regulation of Markets 9. Microeconomic Applications On and Off the Blackboard Part IV: Real-World Macroeconomics 10. What Is Macroeconomics? 11. Macroeconomic Aggregates and Variables 12. Aspects of Macroeconomic Performance 13. Open Economy Macroeconomics 14. Macroeconomic Externalities 15. The Financial Sector and the Great Recession Conclusion: Economics Beyond the Basics

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.

BUS802 ECON802 UOWD