How economists think --
Division of labor --
Supply and demand --
Price floors and ceilings --
Elasticity --
The labor market and wages --
Financial markets and rates of return --
Personal investing --
From perfect competition to monopoly --
Antitrust and competition policy --
Regulation and deregulation --
Negative externalities and the environment --
Positive externalities and technology --
Public goods --
Poverty and welfare programs --
Inequality --
Imperfect information and insurance --
Corporate and political governance --
Macroeconomics and gross domestic product --
Economic growth --
Unemployment --
Inflation --
The balance of trade --
Aggregate supply and aggregate demand --
The unemployment-inflation trade-off --
Fiscal policy and budget deficits --
Countercyclical fiscal policy --
Budget deficits and national saving --
Money and banking --
The Federal Reserve and its powers --
The conduct of monetary policy --
The gains of international trade --
The debates over protectionism --
Exchange rates --
International financial crashes --
A global economic perspective.

Economics isn't just about numbers: It's about politics, psychology, history, and so much more. We are all economists--when we work, save for the future, invest, pay taxes, and buy our groceries. Yet many of us feel lost when the subject arises. Award-winning professor Timothy Taylor tackles all the key questions and hot topics of both microeconomics and macroeconomics, including: why do budget deficits matter? What exactly does the Federal Reserve do? Does globalization take jobs away from American workers? Why is health insurance so costly? The Instant Economist offers the knowledge and sophistication to understand the issues--so you can comprehend and discuss economics on a personal, national, and global level.