Economics plays a part in so many news topics-- both domestically and worldwide-- and the need to know the basics is becoming more and more important. Ideal for both the high school and college student, as well as armchair readers, Idiot's Guides: Economics offers an easy-to-understand exploration of this always-complex topic. Covering both microeconomics and macroeconomics, the book incorporates infographics and illustrations where appropriate to make concepts clear and easy to understand. Economics topics include:- Benefits of Trade- Supply and Demand- Elasticity- Government Intervention in Markets- Market Efficiency- Taxes and the Market- International Trade- Externalities- Public Goods and Common Resources- The Basics of the Tax System- The Costs of Production- Perfect Competition- Monopoly- Tracking the Economy- Unemployment and Inflation- Long-Run Economic Growth- Savings, Investment Spending, and the Financial System- Short-Run Economic Fluctuations- Income and Expenditure- Aggregate Demand and Aggregate Supply- Stabilization Policy- Fiscal Policy- Money, Banking, and the Federal Reserve System- Monetary Policy- Inflation, Disinflation, and DeflationIn addition, such issues as global climate change. the environment, natural disaster recovery, and the social safety net are covered from an economic policy perspective.