Introduction

Supplementary materials for popular college textbooks used in courses in the Principles of Economics, Microeconomics, Price Theory, and Macroeconomics are suggested by topic. A few of these textbooks include

  • N. Gregory Mankiw, Principles of Economics
  • McConnell, Brue, and Flynn, Economics
  • David Colander, Microeconomics
  • Paul Heyne, The Economic Way of Thinking
  • Irvin Tucker, Macroeonomics for Today
  • Edwin G. Dolan, Introduction to Macroeconomics

Materials include podcasts, topical articles, encyclopedia entries, educational blog posts, and more. All materials have been selected for authoritativeness, quality of writing and speaking, liveliness, and ease of understanding. Additional advanced resource links include primary source materials that are available online or graduate level readings. READ MORE

List of Topics

Part I: Introduction to the Principles of Economics
HIDE READINGS

Overview: Basics and a Taste of What’s to Come

    • What Is Economics? Definitions of economics, the economy, political economy. Economics is about making choices, not just about making money.

What Is Economics?
Wellbeing and Welfare

    • We face tradeoffs every day

Scarcity
Cost-benefit analysis

    • The cost of something is what you give up to get it

Opportunity cost

Real, relative, and nominal prices

    • People respond to incentives

Incentives

    • Think about small changes first

Margins and Thinking at the Margin

    • Trade makes everyone better off

Exchange and Trade
Comparative Advantage and the Benefits of Trade

    • Markets are usually a good way to organize economic activity

Efficiency

    • Governments sometimes improve on market outcomes.

Market Failures, Public Goods, and Externalities

    • Governments sometimes make conditions worse than market outcomes.

Government Failures, Rent Seeking, and Public Choice

    • A country’s standard of living depends on its ability to produce goods and services

Economic Growth

Division of Labor and Specialization

    • Prices rise when the government prints too much money

Inflation

    • Economists agree about the principles, but differ about government policy recommendations.

Economic Systems

Thinking Like an Economist

    • Read and Listen Critically to the News
    • Supply and Demand Applies to Surprising Situations

Human Capital

GDP

    • The Role of Institutions, Property Rights, Laws, and Customs

Economic Institutions

Property Rights

Part II: Microeconomics
HIDE READINGS

Supply and Demand: How Markets Work

    • Supply and Demand

Demand

Supply

Supply and Demand, Markets and Prices

      • . Putting supply and demand together, markets and prices.
    • Elasticity and Its Application

Elasticity of Demand

    • Supply, Demand, and Government Policies


Price Controls, Price Ceilings, and Price Floors

Markets and Evaluating How Well-Off We Are: Consumers, Producers, Efficiency, Welfare, Well-being

    • Consumers, Producers and the Efficiency of Markets

Consumers
Producers
Entrepreneurs
Profit
Efficiency

      • Behavioral Economics
  • Application: The Costs of Taxation
  • Application: International Trade

The Economics of the Public Sector

    • Externalities, Public Goods, and Common Resources

Roles of Government
Market Failures, Public Goods, and Externalities

    • Rent Seeking and Public Choice

Government Failures, Rent Seeking, and Public Choice
Economic Institutions
Property Rights

    • The Tax System

Social Security

Health Care

Firm Behavior and the Organization of Industry

    • The Costs of Production
    • Firms in Competitive Markets

Competition and Market Structures

  • Monopoly, Oligopoly, and Monopolistic Competition

The Economics of Labor Markets

    • The Markets for the Factors of Production

Labor Costs

      • , including Labor Unions

Employment and Unemployment

Productivity

    • Earnings and Discrimination
    • The Distribution of Income

Income Distribution
Income Inequality

Advanced Topics in Microeconomics

  • The Theory of Consumer Choice

Part III: Macroeconomics
HIDE READINGS

Measuring Macroeconomic Data

    • Measuring a Country’s Income and Growth

GDP

    • Measuring the Cost of Living (Consumer Price Index, CPI)

Inflation

    • Measuring Employment and Unemployment

Employment and Unemployment

    • Measuring a Country’s Money Supply

Money

    • Measuring a Country’s Debt

Government Budget Deficits and Government Debt

The Real Economy in the Long Run

Credit
Compound Interest
Financial Markets
Saving and Investing
Risk and Return
Insurance
Money Management and Budgeting

    • Employment, Unemployment, and the Natural Rate of Unemployment

Employment and Unemployment

Money and Prices in the Long Run

    • The Monetary System

Money

Monetary Policy and the Federal Reserve

Banks and Financial Institutions

    • Money Growth and Inflation

Inflation

Business Cycles, Financial Crises, and Short-Run Economic Fluctuations

    • Business Cycles, Recessions, Financial Crises

Business Cycles

Employment and Unemployment

    • Aggregate Demand and Aggregate Supply

Aggregate Demand
Aggregate Supply

    • The Influence of Monetary and Fiscal Policy on Aggregate Demand

Fiscal Policy
Government Budget Deficits and Government Debt

    • The Phillips’ Curve: A Short-Run Tradeoff between Inflation and Unemployment

International Economics and the Macroeconomics of Open Economies

    • Open-Economy Macroeconomics: Basic Concepts

Balance of Trade and Balance of Payments
Foreign Currency Markets and Exchange Rates

    • Open Economy Macroeconomics

Barriers to Trade
Economic Development

Ongoing Debates

    • Debates over Macroeconomic Policy

Economic Systems