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An Introduction to Economic Reasoning

Third Edition

The highly engaging introduction to thinking like an economist, updated for a new generation of readers.

When economists wrestle with any social issue—be it unemployment, inflation, healthcare, or crime and punishment—they do so impersonally. The big question for them is: what are the costs and benefits, or trade-offs, of the solutions to such matters? These trade-offs constitute the core of how economists see the world—and make the policies that govern it.

Trade-Offs is an introduction to the economic approach of analyzing controversial policy issues. A useful introduction to the various factors that inform public opinion and policymaking, Trade-Offs is composed of case studies on topics drawn from across contemporary law and society.

Intellectually stimulating yet accessible and entertaining, Trade-Offs will be appreciated by students of economics, public policy, health administration, political science, and law, as well as by anyone following current social policy debates.

192 pages | 5 1/2 x 8 1/2

Economics and Business: Economics--General Theory and Principles

Table of Contents

Preface to the Third Edition
1 Stepping into Social Policy Analysis
2 Do You Want to Trade?
3 Is Saving Lives Repugnant?
4 Organ Donor, I Presume?
5 Stop Bothering Me
6 The Government Taketh Away
7 To Create and Protect
8 Don’t Do the Crime If You Can’t Do the Cane
9 What a Fine Mess
10 Three Strikes and You’re In
11 For Shame
12 A Valuable of Life to Some Extent
13 No Insurance for You
14 A Pound of Prevention
15 Hazardous to Your Morals
16 Doctors Behaving Badly
17 You’re Offsetting Me
18 Smoke If You Got ’Em
19 Joe Camel Wants YOU
20 A Safer Cigarette?
21 Fast-Food (Expla)Nation
22 The Addictive Choice
23 Consistently Inconsistent
24 We Will Make You Better Off—Like It or Not
25 There Are No Solutions

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