Chapter 1 What Is Economics 1
Passage 1 What Is Economics 1
Passage 2 Macroeconomics 6
Supplementary Reading Economic Concepts in Daily Life 17
Case Study A World Without Jobs? 22
Chapter 2 Economic Growth 25
Passage 1 Economic Growth 25
Passage 2 The Measurements of Economic Growth 29
Supplementary Reading Economic Forces 36
Case Study Japan's Economic Performance Between 1960—1996 41
Chapter 3 The Economic Roles of Government 43
Passage 1 The Economic Roles of Government 43
Passage 2 Government Policies 49
Supplementary Reading A Brief History of Economic Thought 57
Case Study China's Macroeconomic Policy in Recent Years 66
Chapter 4 Money 69
Passage 1 What Is Money? 69
Passage 2 Money and Its System 75
Supplementary Reading Finance:A Company's Lifeblood 84
Case Study E-cash and Equality 89
Chapter 5 Investment 92
Passage 1 What Determines Investment 92
Passage 2 Debts or Securities 99
Supplementary Reading Stock Exchanges in America 107
Case study Company Profile and Investment Highlights 114
Chapter 6 Accounting 117
Passage 1 Introduction to Accounting 117
Passage 2 The Balance Sheet 123
Supplementary Reading Generally Accepted Accounting Principles and Organizations Concerned with GAAP 130
Case Study Effects of Business Transactions Upon the Balance Sheet 135
Chapter 7 International Trade 139
Passage 1 International Trade 139
Passage 2 Basic Theories of International Trade 146
Supplementary Reading Ways of Doing Business Internationally 155
Case Study The Foreign Trade of the U.K 162
Chapter 8 World Trade Organization 164
Passage 1 The Basics of GATT 164
Passage 2 The Basics of the World Trade Organization 171
Supplementary Reading The Uruguay Round 179
Case Study China's Bid to Join the World Trade Organization 183
Chapter 9 Trade Barriers 185
Passage 1 International Trade Systems 185
Passage 2 Barriers to World Trade 191
Supplementary Reading Multinational Corporations 198
Case Study The Theory Behind the Antidumping 202
Chapter 10 Foreign Exchange 205
Passage 1 Foreign Exchange Trading 205
Passage 2 Exchange-rate Systems 212
Supplementary Reading The Foreign Exchange Market 220
Case Study The Gold Standard and the Great Depression 226
Chapter 11 International Payment 228
Passage 1 The Balance of Payments 228
Passage 2 The System of Bretton Woods 234
Supplementary Reading Balance of Payments Adjustments 241
Case Study Mexico's 1994 Balance of Payments Crisis 245