Table of contents for Invitation to economics : understanding argument and policy / Thomas Mayer.

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	TABLE OF CONTENTS
	
	List of boxes
	Preface
	
	1. Introduction.
	
	PART I. THE SUBJECT OF ECONOMICS
	
	2. What Economists Do
		 I. What economics encompasses
		II. How economists work
		III. Some Characteristics of Economics
	 Appendix A. Unrealistic Assumptions can a Good Theory Make
	 Appendix B. Is the Stock Market Efficient? 
	
	3. How Well Do They Do It?
	I. Forecasting
	II. Choosing the Right Polices: the Problem of Value Judgments
	III. Implementing Economic Policies
	IV. Biases
	V. Disagreements among Economists
	Appendix: A Survey of American Academic Economists¿ Opinions. 
	 
	PART II. SOME INFRASTRUCTURE
	
	4. Beguiling Words
	I. Some widely used terms and phrases
	II. Some Terms and Phrases relating to Economics and Politics
	
	5. Important Economic Ideas: Often Misunderstood
	I. Levels vs. Rates of Change
	II. Stocks vs. Flows
	III. Real vs. Nominal dollars
	IV. Future vs. Current dollars
	V. The Price Level vs. Prices
	VI. Stable Prices vs. Low Prices
	VII. Gross vs. net, and Single vs. double counting
	VIII. Opportunity Costs vs. Monetary Costs
	IX. Cost Benefit Analysis
	X. Wage Rates vs. Labor Costs
	XII. Capital Goods vs. Human Capital
	XII. Marginal vs. Average Utility
	XIII. Marginal vs. Average Costs
	XIV. Big Business vs. Market Power
	XV. Pro- Market vs. Pro-Business
	XVI. "Should" and "Can" vs. "Will"
	XVII. Comparative vs. Absolute Advantage
	
	PART III. Economic Theory and Policy 
	
	6. The Crown Jewel of Economics: The Price Mechanism
	I. An overview of the price mechanism
	II. Equilibrium
	III. Shortages
	IV. A Digression: The Equilibrium of the Firm
	V. What happens in the absence of a price mechanism?
	VI. The dark side of the price mechanism
		VII. The Upshot
		Appendix. More on Supply and Demand
 	
 	7. Risk Taking and Incentives
	I. Risk bearing and entrepreneurship
	II Incentives
	
	8. Looking Around Corners
	I. Do Easier Bankruptcy Laws Help the Poor?
	II. Giving Artists a Share of the Gain when their Work is Resold
	III. Do we want Fewer People Exploiting the Poor?
	IV. Cut the Gas Tax to Ameliorate the effect of Soaring Gas Prices? 
V. A Costless Way to Alleviate Poverty in Third World Countries? 
	VI. Ban or Fine all Speculators?
	VII. Limiting Tobacco Advertising
	VIII. Importing Pharmaceuticals from Canada
	IX. An Efficient and Humane Way to reduce Cocaine Production?
	X. Protecting Lives by Requiring Use of Seat Belts?
	XI. Auctions and Bidders
	XII. Fast Chinese growth bad for the United States?
	XIII. In Emergencies should Prices Ration Supply so that the Rich outbid 
the Poor?
	XIV. Is Gaining from Someone¿s Misfortune a Moral Wrong?
	XV. Should those Close at Hand have special Responsibility to alleviate 
Misery? 
	XVI. Seven Short Ones
	XVII. On the other Hand
	
	9. Looking Around More Corners: Environmental Issues
	 I. Running out of Privately Owned Natural Resources
	 II. The Tragedy of the Commons.
	 III. Pollution Permits and Taxes on Pollutants 
	 IV. Tail-pipe Pollutants
	 V. Protecting Endangered Species
 	
	PART IV. LOOKING AT DATA 
	
	10. Empirical Economics
	I Role of Empirical Work in Economics
	II. Types of Empirical Evidence
	III. What to watch out for in Statistics: some General 		 Appendix A: 
Survey Data
	Appendix B: Measuring GDP, Savings Rates, Price Indexes, Employment 
and Poverty
	
	11. Some Simple (?) Ways of Presenting Data: Percentages, Figures and 
Graphs
	 I. Percentages
	 II. Figures and Graphs 
	
	12. Samples and their Problems
	I. Selecting a Representative Sample 
	II. Watching for Inappropriate Samples
	III. The Regression Fallacy: building a Bias into the Sample
	IV. Sample Size and Coincidence
	V. Sampling Error, Confidence Intervals and Significance
	VI. Some Warnings about Significance Tests
	Appendix: the Normal Distribution
 	
	13. Regressions: The Workhorse of Empirical Economics
	I. The Regression Coefficient
	II. How well does the Regression fit the Data?	
	III. What Should you Look at in a Regression? 
	IV. A Summing Up 
	V. Looking the Workhorse in the Mouth
	VI. In Conclusion
 	
	14. Some Examples of Empirical Economics 
	I. Consumption and saving
	II. Should you choose a large Mutual Fund?
	III. The Slave Trade and African Economic Development
	IV. The Effect of a Tax Change on real GDP.
	
	Epilogue
	
	Index

Library of Congress Subject Headings for this publication:

Economics.
Economists.
Economic policy.
Reasoning.
Critical thinking.