1. The Nature and Method of Economics 1 C H A P T E R 2. The Economics Perspective Consider... MARGINAL ANALYSIS Marginal Benefits &Marginal Costs SCARCITY & CHOICE…

Slide 1 Slide 2 19 - 1 Copyright McGraw-Hill/Irwin, 2002 Classical Economics and Keynes Classical Theory Keynesian View Causes of Macro Instability Real Business Cycle View…

Slide 1 Slide 2 14 - 1 Copyright McGraw-Hill/Irwin, 2002 Significance of Resource Pricing Marginal Productivity Theory of Resource Demand MRP as a Demand Schedule Determinants…

Slide 1 Slide 2 12 - 1 Copyright McGraw-Hill/Irwin, 2005 Monopolistic Competition Characteristics Price and Output in Monopolistic Competition Monopolistic Competition and…

Slide 1 Slide 2 24 - 1 Copyright McGraw-Hill/Irwin, 2002 Four Market Models Monopoly Examples Barriers to Entry The Natural Monopoly Case Monopoly Demand Monopoly Revenues…

Slide 1 Slide 2 25 - 1 Copyright McGraw-Hill/Irwin, 2002 Monopolistic Competition Characteristics Price and Output in Monopolistic Competition Monopolistic Competition and…

Slide 1 Slide 2 21 - 1 Copyright McGraw-Hill/Irwin, 2002 The Law of Demand Law of Diminishing Marginal Utility Total and Marginal Utility Theory of Consumer Behavior Utility…

Slide 1 Slide 2 7 - 1 Copyright McGraw-Hill/Irwin, 2005 Price Elasticity of Demand Price Elasticity and Total Revenue Determinants of Price Elasticity of Demand Price Elasticity…

Slide 1 Slide 2 13 - 1 Copyright McGraw-Hill/Irwin, 2005 Functions of Money What Backs the Money Supply Demand for Money The Money Market The Federal Reserve & the Banking…

Slide 1 Slide 2 10 - 1 Copyright McGraw-Hill/Irwin, 2005 Aggregate Expenditures Model Investment Demand and Schedule Equilibrium GDP Changes in Equilibrium GDP and the Multiplier…