Economic Analysis of Social Issues

- 1Fundamental Concepts in Economics
  - 1.1What Is Economics?
  - 1.2Key Principles of Economics: Scarcity, Trade-Offs, and Opportunity Costs
  - 1.3Key Principle of Economics: People Respond to Incentives
  - 1.4A Brief Introduction to Collective Action Problems
  - 1.5How Economists Analyze Economic Issues
  - 1.6Conclusion
- 2Cost–Benefit Analysis and the Value of a Life
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  - 2.1Cost–Benefit Analysis
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  - 2.2Applying Cost–Benefit Analysis to Life
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  - 2.3Using Cost–Benefit Analysis to Determine an Appropriate Level of Safety
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  - 2.4Problems and Pitfalls of Cost–Benefit Analysis When Life Is Involved
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  - 2.5Approaches to Valuing a Life
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  - 2.6Conclusion
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- 3Supply and Demand
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  - 3.1Demand
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  - 3.2Supply
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  - 3.3Equilibrium
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  - 3.4Changes in Supply and Demand
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  - 3.5Factors That Shift Supply and Demand
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  - 3.6The Price Elasticities of Supply and Demand
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  - 3.7Conclusion
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- 4Basic Game Theory: Exploring Strategic Interactions
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  - 4.1What Is Game Theory?
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  - 4.2The Basic Structure of Games
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  - 4.3The Basic Types of Games
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  - 4.4Conclusion
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- 5Free Exchange: Individual and International Trade
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  - 5.1Comparative Advantage, Exchange, and Wealth Creation
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  - 5.2Restrictions on Free Exchange
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  - 5.3International Trade and Not-So-Free Exchange
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  - 5.4Conclusion
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- 6The Market System: Functions, Structure, and Institutions
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  - 6.1The Market System: Its Functions and Structure
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  - 6.2The Four Functions of Prices in the Market System
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  - 6.3The Foundations of Well-Functioning Markets: A Role for Government
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  - 6.4Connecting Effort and Reward: An Illustration
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  - 6.5Conclusion
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- 7The Nature of Pollution Problems
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  - 7.1Externalities
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  - 7.2Pollution Problems (Negative Externalities) and Disagreements over the Competing Uses of Scarce Resources
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  - 7.3How Much Pollution Is the Right Amount of Pollution?
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  - 7.4The Coase Theorem
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  - 7.5Why the Coase Theorem May Not Work: Transactions Costs
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  - 7.6Conclusion
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- 8Government Policies to Regulate Pollution
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  - 8.1Four Major Types of Transactions Costs
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  - 8.2Regulating Pollution in an Ideal World
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  - 8.3Tools Governments Use to Regulate Pollution
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  - 8.4Conclusion
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- 9Resource Depletion and Sustainability
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  - 9.1Will the World Run Out of Oil?
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  - 9.2What Resources Are in Danger of Depletion?
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  - 9.3The Tragedy of the Commons
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  - 9.4How Can Society Fix Depletion Problems?
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  - 9.5Conclusion
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- 10Public Goods and the Role of Government
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  - 10.1Public versus Private Goods
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  - 10.2How Nonexcludability Leads to Free Riding and the Public Goods Problem
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  - 10.3Property Rights and the Public Goods Problem
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  - 10.4How Governments Can Overcome the Public Goods Problem
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  - 10.5Conclusion
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- 11Public Goods: Tackling Large Projects and Eminent Domain
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  - 11.1The Role of Individuals in Large Projects
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  - 11.2The Role of Government in Large Projects
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  - 11.3Conclusion
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- 12The Volunteer’s Dilemma: A Collective Inaction Problem
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  - 12.1What Is the Volunteer’s Dilemma?
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  - 12.2If Apathy Doesn’t Explain the Volunteer’s Dilemma, What Does?
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  - 12.3Game Theory and the Volunteer’s Dilemma
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  - 12.4Mixed-Strategy Play and the Volunteer’s Dilemma
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  - 12.5Overcoming the Volunteer’s Dilemma
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  - 12.6Conclusion
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- 13Voting: You Can’t Always Get What You Want
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  - 13.1An Introduction to Voting Methods
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  - 13.2Conventional Political Elections and the Median Voter Theorem
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  - 13.3Strategic Voting and the Order of Events in Runoff Elections
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  - 13.4Conclusion
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- 14The Economics of Health Insurance and Health Care
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  - 14.1The Current State of the U.S. Health Care System
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  - 14.2Health Care Delivery and Finance Systems: An International Comparison
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  - 14.3How Health Care Finance May Affect the Affordability of Health Care
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  - 14.4Conclusion
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- 15Segregation and Discrimination
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  - 15.1The Segregation of Neighborhoods and Schelling’s Checkerboard
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  - 15.2Does Your Neighborhood Determine Your Future Well-Being?
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  - 15.3Labor Market Discrimination
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  - 15.4How Economists Detect and Measure Discrimination
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  - 15.5Anti-Discrimination Legislation
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  - 15.6Conclusion
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- 16Gross Domestic Product and the Wealth of Nations: An Introduction to the Macroeconomy
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  - 16.1Macroeconomics and How It Differs from Microeconomics
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  - 16.2Material Well-Being and Gross Domestic Product
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  - 16.3Nominal GDP and Real GDP
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  - 16.4Shortcomings of GDP
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  - 16.5Economic Growth
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  - 16.6Business Cycles and Recessions
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  - 16.7Conclusion
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- 17Unemployment
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  - 17.1What Is Unemployment?
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  - 17.2Shortcomings of the Measured Unemployment Rate
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  - 17.3Types of Unemployment
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  - 17.4Policy Implications of Unemployment
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  - 17.5Conclusion
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- 18An Introduction to Money, Banks, and the Financial System
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  - 18.1Money and Its Functions
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  - 18.2The Evolution of Money and the Origins of the Modern Banking System
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  - 18.3Commercial Banks, Central Banks, and Money Creation
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  - 18.4The Banking System and the Money Supply
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  - 18.5Financial Instruments and Their Functions
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  - 18.6Conclusion
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- 19The Federal Reserve: Monetary Policy, Economic Activity, and Inflation
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  - 19.1The Origins of the Federal Reserve and Its Tools of Policy
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  - 19.2The Money Supply, Interest Rates, and Monetary Policy
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  - 19.3The Art and Implementation of Monetary Policy
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  - 19.4Money and Inflation
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  - 19.5Conclusion
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- 20The Federal Government: Taxes, Spending, and Fiscal Policy
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  - 20.1Government Revenue
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  - 20.2Government Expenditures, Deficits, and Debt
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  - 20.3The Future of the Federal Budget
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  - 20.4The Federal Government and Fiscal Stabilization Policy
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  - 20.5Conclusion
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- 21Income Inequality and the Redistribution of Income
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  - 21.1How Is Inequality Measured?
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  - 21.2How Unequal Is the Distribution of Income in the United States?
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  - 21.3What Are the Causes and Effects of Income Inequality?
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  - 21.4What Is the Role of Government in Promoting Equality?
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  - 21.5Conclusion
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