“This book is the continuation, and a fitting culmination, of Tom Cunningham’s longstanding commitment to making complex economic concepts accessible to the business community and beyond. It will help business leaders navigate these turbulent and unprecedented economic times.” –Raphael Bostic, President and CEO, Federal Reserve Bank of Atlanta
“Tom Cunningham’s unique talent is in helping us understand how to think about economics as a whole, all in an engaging way that leaves us wanting more.”
–Michael L. Gullette, Senior Vice President, Tax and Accounting, American Bankers Association
Economic agents all over the world are trying to maximize their returns given their efforts, resources, and opportunities. They come together in markets that ultimately allocate goods and services among many competing interests. We can readily see how individual markets behave; it’s more difficult, but exponentially more important, to recognize the general equilibrium across all markets. Disturbances in one market have implications for others.
These interrelationships are particularly important to understand when policy changes are being considered where actions in one market will impose changes on other markets, and not always in obvious or pleasant ways. Understanding Economic Equilibrium reveals how all markets fit together, and how we as individuals fit into that bigger picture.
The authors have prepared a Quick Quiz to Test Your Economics Savvy. But don’t be concerned if you don’t get a perfect score. You’ll find the answers and all the supporting information in Understanding Economic Equilibrium.