Principles of Economics | John B. Taylor and Akila Weerapana

- 1The Central Idea
  - 1.1Scarcity and Choice for Individuals
  - 1.2Market Economies and the Price System
  - 1.3End-of-Chapter Material
- 2Observing and Explaining the Economy
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  - 2.1Why Has Driving Shifted into Reverse
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  - 2.2Variables, Correlation and Causation
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  - 2.3Recommending Appropriate Policies
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  - 2.4End-of-Chapter Material
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  - 2.5Appendix 2A: Reading, Understanding and Creating Graphs
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  - 2.6Appendix 2B: Present Discounted Value
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  - 2.7Appendix 2C: The Miracle of Compound Growth
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- 3Macroeconomics: The Big Picture
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  - 3.1Measuring the “Size” of an Economy
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  - 3.2Unemployment, Inflation, and Interest Rates
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  - 3.3Macroeconomic Theory and Policy
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  - 3.4End-of-Chapter Material
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- 4Money and Inflation
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  - 4.1What is Money?
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  - 4.2The Fed, the Banks, and the Link from Reserves to Deposits
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  - 4.3End-of-Chapter Material
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- 5Measuring the Production, Income, and Spending of Nations
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  - 5.1Measuring GDP
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  - 5.2Saving
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  - 5.3Measuring Real GDP
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  - 5.4Shortcomings of the GDP Measure
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  - 5.5End-of-Chapter Material
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- 6The Supply and Demand Model
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  - 6.1Demand
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  - 6.2Supply
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  - 6.3Market Equilibrium: Combining Supply and Demand
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  - 6.4Subtleties of the Supply and Demand Model
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  - 6.5Interference with Market Prices
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  - 6.6End-of-Chapter Material (Pt. I)
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  - 6.7End-of-Chapter Material (Pt II)
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- 7Capital and Financial Markets
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  - 7.1The Distinction between Physical Capital and Financial Capital
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  - 7.2Markets for Physical Capital
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  - 7.3Markets for Financial Capital
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  - 7.4Corporate Governance Problems
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  - 7.5The Role of Government in Financial Markets
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  - 7.6End-of-Chapter Material
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- 8Labor Markets
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  - 8.1The Measurement of Wages
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  - 8.2The Labor Market
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  - 8.3Appendix 7A: Labor Demand
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  - 8.4Appendix 7B: Labor Supply
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  - 8.5End-of-Chapter Materials
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- 9Unemployment and Employment
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  - 9.1Unemployment and Other Labor Market Indicators
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  - 9.2The Nature of Unemployment
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  - 9.3Modeling the Labor Market
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  - 9.4End-of-Chapter Material
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- 10Productivity and Economic Growth
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  - 10.1Labor and Capital without Technology
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  - 10.2Technology: The Engine of Growth
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  - 10.3Fundamental Causes of Economic Growth
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  - 10.4Measuring Technology
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  - 10.5Technology Policy
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  - 10.6End-of-Chapter Material
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  - 10.7Appendix: Deriving the Growth Accounting Formula
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- 11Economic Growth Around the World
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  - 11.1Catching Up (or Not?)
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  - 11.2Economic Development
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  - 11.3The Spread and Use of Technology
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  - 11.4Increasing Capital per Worker
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  - 11.5End-of-Chapter Material
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- 12Taxes, Transfers, and Income Distribution
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  - 12.1The Tax System
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  - 12.2Transfer Payments
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  - 12.3The Distribution of Income in the United States
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  - 12.4End-of-Chapter Materials
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- 13Public Goods, Externalities, and Government Behavior
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  - 13.1Public Goods
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  - 13.2Externalities: From the Environment to Education
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  - 13.3Remedies for Externalities
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  - 13.4Models of Government Behavior
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  - 13.5End-of-Chapter Materials
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- 14The Spending Allocation Model
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  - 14.1The Spending Shares
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  - 14.2The Effect of Interest Rates on Spending Shares
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  - 14.3Determining the Equilibrium Interest Rate
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  - 14.4The Relationship between Saving and Investment
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  - 14.5End-of-Chapter Material
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- 15The Nature and Causes of Economic Fluctuations
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  - 15.1Changes in Aggregate Demand Lead to Changes in Production
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  - 15.2Forecasting Real GDP
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  - 15.3The Response of Consumption to Income
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  - 15.4Finding Real GDP When Consumption and Income Move Together
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  - 15.5Spending Balance and Departures of Real GDP from Potential GDP
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  - 15.6End-of-Chapter Material
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  - 15.7Appendix: Deriving the Formula for the Keynesian Multiplier and the Forward-Looking Consumption Model
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- 16The Economic Fluctuations Model
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  - 16.1The Aggregate Demand Curve
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  - 16.2The Inflation Adjustment Line
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  - 16.3Combining the Aggregate Demand Curve and the Inflation Adjustment Line
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  - 16.4End-of-Chapter Material
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- 17Using The Economic Fluctuations Model
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  - 17.1Changes in Government Purchases
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  - 17.2Changes in Monetary Policy
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  - 17.3Price Shocks
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  - 17.4Using the Economic Fluctuations Model to Understand the Recent Recession
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  - 17.5End-of-Chapter Material
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- 18Fiscal Policy
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  - 18.1The Government Budget
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  - 18.2Countercyclical Fiscal Policy
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  - 18.3The Structural versus the Cyclical Surplus
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  - 18.4End-of-Chapter Material
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- 19Monetary Policy
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  - 19.1The Federal Reserve’s Balance Sheet
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  - 19.2Money Demand and Zero Interest Rate
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  - 19.3When the Interest Rate Hits Zero
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  - 19.4The Economic Fluctuations Model
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  - 19.5Central Bank Independence
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  - 19.6The Exchange Rate
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  - 19.7End-of-Chapter Material
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- 20International Trade
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  - 20.1Trends in International Trade
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  - 20.2Comparative Advantage
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  - 20.3Reasons for Comparative Advantage
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  - 20.4Gains from Expanded Markets
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  - 20.5Tariffs and Quotas
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  - 20.6The History of Trade Restrictions
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  - 20.7Arguments for Trade Barriers
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  - 20.8How to Reduce Trade Barriers
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  - 20.9End-of-Chapter Material
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- 21International Finance
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  - 21.1Exchange Rates
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  - 21.2Exchange Rate Determination
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  - 21.3Fixed Exchange Rates
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  - 21.4Currency Unions
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  - 21.5End-of-Chapter Material
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