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How to Think Like an Economist

ISBN-10: 0324015755
ISBN-13: 9780324015751
Edition: 5th 2005
Authors: Roger A. Arnold
List price: $33.95
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Description: In less than 200 pages, HOW TO THINK LIKE AN ECONOMIST offers economics "stories" and real-world applications that will help youmake the connection between economics and your life.

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Book details

List price: $33.95
Edition: 5th
Copyright year: 2005
Publisher: Cengage South-Western
Publication date: 1/9/2004
Binding: Paperback
Pages: 144
Size: 5.98" wide x 8.98" long x 0.28" tall
Weight: 0.440
Language: English

In less than 200 pages, HOW TO THINK LIKE AN ECONOMIST offers economics "stories" and real-world applications that will help youmake the connection between economics and your life.

Dr. Roger A. Arnold is Professor of Economics at California State University San Marcos, where his fields of specialization include general microeconomic theory and monetary theory. A widely respected authority on economic issues, Dr. Arnold is a regularly featured expert on talk radio discussing the state of the economy. He is also a proven author, who has written numerous academic articles, hundreds of newspaper columns, as well as the popular ECONOMICS: NEW WAYS OF THINKING and principles of macroeconomics supplementary text, HOW TO THINK LIKE AN ECONOMIST. Dr. Arnold has been a member of the economics faculty at California State University Northridge, University of Oklahoma, Hillsdale College, University of Nevada Las Vegas, and California State University San Marcos. He served as chair of the economics department for two years at University of Nevada Las Vegas and for seven years at California State University San Marcos. He is currently chair of the economics department at California State University San Marcos. During his tenure at UNLV he was regularly one of the top five finalists for the teacher of the year honor (in the College of Business and Economics), and in 1987 he received the best researcher of the year award. Dr. Arnold earned a B.S. in Economics in 1974 from the University of Birmingham in England and received his M.A. in 1976 and his Ph.D. in 1979 from Virginia Polytechnic Institute and State University.

Preface
Can You Get Too Much of a Good Thing?
The Price of a Good
Life Is Full of Tradeoffs
Can There Ever Be Too Little of a Bad Thing?
Actions Speak Louder Than Words
What the Economist Thinks
Questions to Answer
There Is a Right Amount of Everything
Benefits and Costs
Total and Marginal Magnitudes
Finding the Optimum by Thinking in Terms of Marginal Benefits and Marginal Costs
Hitting Yourself in the Head With a Hammer
The Right Amount of Time to Play Tennis
A View of Life
What the Economist Thinks
Questions to Answer
Have a Question, Build a Theory
If You Are Eight, Then You Should See
There Is Cause for Concern if a Theory Cannot Be Falsified
What the Economist Thinks
Questions to Answer
Change Often Begets Change
The Way Things Could Be
Why Dieters Often Don't Lose Weight
Price Ceilings
One Change Begets Another Change Begets the Need for Empirical Evidence
To Tell the Whole Story, We Need to Identify All the Changes
What the Economist Thinks
Questions to Answer
Why Is It Harder to Predict Than to Explain?
What Do You Need to Know to Make a Prediction?
What Do You Need to Know to Give an Explanation?
If You're So Smart, Then Why Aren't You Rich?
What the Economist Thinks
Questions to Answer
Did You Really Mean to Pay for That?
Why Not Give Goods Instead of Money?
Let's Change the Example and See if We Get Different Results
Why Professors Might Say No to Review Sessions
What the Economist Thinks
Questions to Answer
Is the Grass Really Greener on the Other Side of the Fence?
Which Stock Is Better?
Let's Summarize Our Analysis
Now Let's Look at House Prices
Which Is the "Greener" Side of the Fence?
A Pinch of Reality
Are Physicians Really Rich?
Trying to Stop the Adjustment Process
What the Economist Thinks
Questions to Answer
Why There Will Always Be Lies and Liars
We Lie to Ourselves All the Time
Why Do People Lie?
What Are People Most Likely to Lie About?
Reducing the Number of Lies
What the Economist Thinks
Questions to Answer
How Things Will Turn Out
The Economist's Mindset
Our Divorce Situation
An Important Condition Is Necessary to Reach Our Conclusion
What the Economist Thinks
Questions to Answer
What Kinds of Explanations Do Economists Use?
Grapes in California and New York
Use What Works Often and Well
What the Economist Thinks
Questions to Answer
Good Things Can Just Happen
What Are the Benefits of Money?
Money Was Not Invented
What the Economist Thinks
Questions to Answer
Winners and Losers
Positive-Sum Games
Negative-Sum Games
Zero-Sum Games
How the Economist Thinks About the Various Games
What the Economist Thinks
Questions to Answer
Life Is Just One Big Real Estate Market
What Does Superior Market Position Imply?
What the Economist Will Do at This Point
The College Market
The Dating Market
The Marriage Market
What the Economist Thinks
Questions to Answer
Rational Men and Women
What the Economist Thinks
Questions to Answer
Rationing Devices
Many Arguments in Life Are About Rationing Devices
"That's Not Fair"
No Matter What the Rationing Device, People Will Compete for It
The Beauty of Money Price as a Rationing Device
What the Economist Thinks
Questions to Answer
Where's Waldo? Where's the Economics?
Aisle, Window, and Middle-of-the-Row Seats
Overhead Compartments
Will More Overhead Compartment Space Do the Trick?
Going to the Restroom
The Curtain
Airline Magazines
What the Economist Thinks
Questions to Answer
Drug Busts and SUVs, or the Importance of Thinking in Threes
Drug Busts and Crime
SUVs and Terrorism
What the Economist Thinks
Questions to Answer
Is It the Same Everywhere? Is It the Same All the Time?
New York Apartments
The Question the Economist Asks
Gas Prices and Another Question the Economist Asks
What the Economist Thinks
Questions to Answer
Gifts, Trades, and Transfers
Gifts
Trades
Transfers
Looking for Gifts, Trades, and Transfers
What the Economist Thinks
Questions to Answer
There Are No $10 Bills on the Sidewalk
How Does the $10 Bill Principle Help the Economist?
The $10 Bill Principle and the Law of Demand
The $10 Bill Principle and Cheating on Cartel Agreements
The $10 Bill Principle and Hiring
Is It Over Yet?
What the Economist Thinks
Questions to Answer
Ratios: More Than Twice As Good
Ratio of Percentage Change in Dollar Income to Percentage Change in Prices
Ratio of Quantity Demanded to Quantity Supplied
Ratio of Prices in One Year to Prices in Another Year
Ratio of Percentage Change in Quantity Demanded to Percentage Change in Price
Ratio of Average Variable Cost to Price
Ratio of Marginal Revenue to Marginal Cost
Will It Last?
Another Will-It-Last Ratio
Buddha's Ratio
Finding Your Own Ratios
What the Economist Thinks
Questions to Answer
More Than Common Sense Is Needed
How Would You Answer This Question?
Why Didn't Ricardo Simply Rely on His Common Sense? Or, How Can We Become Ricardians?
Adam Smith Had a Puzzle Too
Common Sense and a Ratio
How Do I Know When I'm Wrong?
What the Economist Thinks
Questions to Answer
Did I Ask for This? Would I Have Asked for This?
We Sometimes Constrain Ourselves for a Good Reason
Do Students Want Challenging Exams?
Are Speeding Tickets a Bad?
Bosses and Workers
What the Economist Thinks
Questions to Answer
Right for Me, Right for You, But Wrong for Us
The Cold War
Disneyland
Self-Interest and Group Outcome
Analysis of a Negative Outcome-The Free Rider
What the Economist Thinks
Questions to Answer

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