Economics with Emphasis on the Free Enterprise System

Authors

Irvin Tucker

Irvin Tucker has more than 30 years of experience teaching introductory economics at the University of North Carolina Charlotte. Dr Tucker is the former director of the Center for Economics Education at the University of North Carolina Charlotte. His work has received national recognition by being awarded the Meritorious Leavy Award for Excellence in Private Enterprise Education, the Federation of Independent Business Award for Postsecondary Educator of the Year in Entrepreneurship and Economic Education, and the Freedoms Foundation George Washington Honor Medal for Excellence in Economic Education.

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Joan Ryan

Joan Ryan has taught personal finance for more than 20 years. While teaching at Willamette High School in Eugene, Oregon, she developed the original personal finance course materials for publication. Dr. Ryan currently is a faculty member in the business department at Clackamas Community College, Portland, OR. She also teaches accounting at Portland State University and is a Certified Managerial Accountant.

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Table of Contents

Unit I: INTRODUCTION TO FREE ENTERPRISE.
1. The Free Enterprise System.
What is Free Enterprise? Principles and Goals of Free Enterprise. Types of Economic Systems.
2. Understand Decision Making.
Economist's Toolkit. Opportunity Cost. The Production Possibilities Curve.
Unit II: FREE MARKETS IN ACTION.
3. Market Demand.
The Law of Demand. Shifts in the Demand Curve. Elasticity of Demand.
4. Market Supply and Free Market Price.
The Law of Supply. Shifts in the Supply Curve. The Free Market Price. The Role of Government in Free Enterprise.
5. Market Structures.
Perfect Competition and Monopoly. Monopolistic Competition and Oligopoly.
Unit III: BUSINESS IN ACTION.
6. Business Organizations.
How Did Business Evolve in America? What is a Proprietorship? What is a Partnership? What is a Corporation?
7. Business Ownership. Owning Your Own Business. Prepare a Business Plan. Succeed in Business.
Unit IV: MONEY AND BANKING.
8. Money and the Banking System.
What Makes Money Money. The Money Supply. How Banks Create Money.
9. Financial Institutions and Markets.
Individual Banking and Savings. Business Banking and Capital Markets. Labor Movement and Markets.
10. Consumer Credit and Debt .
Effective Buying Strategies. Consumer Loans. Consumer Debt and Bankruptcy.
Unit V: MEASURE ECONOMIC PERFORMANCE.
11. Gross Domestic Product and Growth.
Gross Domestic Product. Real GDP. Business Cycle. Economic Growth.
12. Challenges to Free Enterprise.
Unemployment. Inflation. Taxes.
Unit VI: GOVERNMENT IN THE MACRO ECONOMY.
13. Federal Budget Balancing Act.
What is Fiscal Policy? Fiscal Policy Options. Budget Deficits and the National Debt.
14. Federal Reserve and Monetary Policy.
The Federal Reserve System. What a Federal Reserve Bank Does. Monetary Policy.
Unit VII: GLOBAL TRADE AND INVESTING.
15. International Trade.
Why Nations Trade. Free Trade Matters.
16. Build Assets and Wealth.
Rent or Own a Home. Buy or Lease a Car. Risk Management and Insurance. Purchase, Use, and Dispose of Property.
17. Invest for the Future.
Invest in the Stock Market. Invest in the Bond Market. Other Investment Options. Retirement, Estate Planning, and Philanthropy.

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Student Supplements

Economics and Personal Finance

9781133562108

Having been raised in a media-rich environment, students will appreciate shorter "chunks" of content and infographics to display concepts that connect to the real world. By associating concepts with prior knowledge, students will retain economic and personal finance knowledge. Multiple examples... more

Overview

Irvin Tucker

Joan Ryan