CONTENTS PART 1 A Panorama 1 LECTURE 1 An Introduction to Economics 2 Texts: Who Gets What, and How? 3 Why Do I Choose to Study Economics? 12 LECTURE 2 Approaching Microeconomics 14 Texts: The Themes of Microeconomics 15 Markets 25 LECTURE 3 Approaching Macroeconomics 28 Texts: Macroeconomic Goals 29 GDP—A Measure of Output 40 RESOURCES & LINKS 42 PART 2 Great Minds 45 LECTURE 4 Adam Smith—Father of Economics 46 Texts: Adam Smith and the Invisible Hand 47 Two Insights from The Wealth of Nations 56 LECTURE 5 Alfred Marshall and Neoclassical Economics 60 Texts: The Neoclassical School—Alfred Marshall 61 Elasticity of Demand and Elasticity of Supply 71 LECTURE 6 Keynes and the Keynesian Economics 76 Texts: The Keynesian School—John Maynard Keynes 77 Preface to The General Theory of Employment, Interest and Money 87 RESOURCES & LINKS 90 PART 3 Insights 93 LECTURE 7 Individual Decisions 94 Texts: How Do People Make Decisions? 95 Economic Principles and Environmental Decisions 104 LECTURE 8 Market Behavior 106 Texts: How People Interact 107 The Stock Market 116 LECTURE 9 Government Policy 120 Texts: How Does the Economy as a Whole Work? 121 How Does Government Regulation Affect Your Life? 130 RESOURCES & LINKS 133 PART 4 Academic Study and Communication 135 LECTURE 10 Graphs 136 Texts: Graph of the Demand Curve 137 Key Concepts and Skills 148 LECTURE 11 Research Methods 152 Texts: The Nature of Business and Management Research 153 Dissertation Formats in Economics 161 LECTURE 12 Research Publication 164 Texts: Writing for Peer-Reviewed Journals 165 Types of Graduate Schools and Degrees in Economics 176 RESOURCES & LINKS 180