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Quick Win Economics - Stephen Kinsella


Year 2011

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INTRODUCTIONACKNOWLEDGEMENTSECONOMICS ESSENTIALSQ1. What is economics?Q2. What is an economic model?Q3. What are variables - and which matter most?Q4. What are economic indicators?Q5. How do economists think about costs?Q6. What are the factors of production?Q7. What is 'rent'?Q8. What is marginal analysis?Q9. What is opportunity cost?Q10. What is utility?Q11. What is a price?Q12. Why do economists focus on the consumer?Q13. Why do economists assume people are rational?Q14. What is bounded rationality?Q15. Why are expectations important?Q16. What is consumer surplus?Q17. What is producer surplus?Q18. What is a deadweight loss?Q19. What are economic incentives and why do people react to them?Q20. What is the 'market'?Q21. What is market failure?Q22. What is equilibrium?Q23. What are excess supply and excess demand?Q24. What are comparative statics?Q25. What is market structure?Q26. Why do monopolies matter?Q27. What is aggregate demand / supply?Q28. Why are the supply chains of some companies more connected than others?Q29. What is a barrier to entry or exit?Q30. What is game theory and how does it help to make people better off?Q31. What is an index?Q32. What is arbitrage?Q33. What is economic geography?Q34. What is an economic identity?Q35. Why do economists use graphs?Q36. Why do economists use equations and functions to explain their theories?Q37. What are good sources of economic data?Q38. What is the economic definition of risk - and how does it differ from uncertainty?Q39. What is risk aversion?MICROECONOMICSQ40. How does the behavioural theory of the business explain how businesses work?Q41. How does a business decide how much to produce?Q42. How do businesses know how much to increase prices for a product or service?Q43. What happens to demand for gin when the price of tonic changes?Q44. What is break-even analysis?Q45. What are diminishing returns?MACROECONOMICSQ46. What are the major '-isms' in economics?Q47. What is the macro-economy?Q48. What is an economy's capital stock? Why does it matter?Q49. How are the parts of the economy connected together?Q50. What is inflation?Q51. What is hyperinflation?Q52. What is deflation and why is it so worrying?Q53. How do businesses decide which projects to fund, and which ones to drop?Q54. Why does the same amount of money buy less today than when I was a child?Q55. What determines the exchange rate between currencies?Q56. Why don't Big Macs cost the same in every country?Q57. If the government devalues the currency, will this help my business?Q58. Why does every country have a central bank? What does it do?Q59. What is an economic and monetary union?Q60. Why are cartels banned in most countries?Q61. What is a labour market?Q62. What is the balance of payments?Q63. What is globalisation?Q64. Does free trade work?Q65. Why does comparative advantage mean that free trade is almost always better than restricted trade?Q66. Why do import / export tariffs matter for free trade?Q67. What is economic efficiency?Q68. What are government debts and why do they matter?Q69. What is liquidity?Q70. What is Gross Domestic Product?Q71. What is the GDP deflator?Q72. What is the business cycle?Q73. How fast should an economy grow?Q74. What is economic development?Q75. What is economic inequality?Q76. What is the paradox of thrift?ECONOMIC POLICYQ77. Why does fiscal policy matter?Q78. What is money and why is it useful?Q79. What is the money supply?Q80. Can the government manage the economy through monetary policy?Q81. What are interest rates and why do they matter?Q82. What is a bank and how does it create money?Q83. How does a government create money?Q84. Can the government ever really manage the economy?Q85. What is a poverty trap and how can people get out of one?APPLIED ECONOMICSQ86. Is advertising a good thing?Q87. How would economists deal with pollution?Q88. What is a demographic transition and will it affect my pension, or hurt my children's chances in life?Q89. Can an individual ever beat the market?Q90. Should we tax more or less?Q91. Could the government help the economy to recover by reducing taxes?Q92. Could we ever have a zero inflation economy?Q93. Why does increased productivity matter for an economy?Q94. Why does everyone want to buy a house?Q95. Why is there unemployment and how can it be reduced?Q96. What is the trickle-down theory?Q97. How do organisations like the World Trade Organisation influence world trade?Q98. How do taxes impact the market?Q99. How do reductions in Government spending affect the economy?Q100. Why does a change in central bank lending rates affect my mortgage?Q101. How could I spend my money to have the greatest benefit on the economy as a whole?ABOUT THE AUTHOR
 
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