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Economics Is Everywhere, Fifth Edition, presents vignettes inspired by everyday events from news articles, films, family and popular culture. Professor Hamermesh also employs his interactions with students, frequently featuring student insight in these short scenes. Economics Is Everywhere helps students to apply what they are learning in their introductory microeconomics courses by examining economics examples that can be found in day-to-day life. Students will be able to identify with economics rather than be afraid of it! Topics that are discussed include opportunity costs, trade-offs, supply and demand, elasticity, competitive markets and monopoly.
Daniel S. Hamermesh is the Sue Killam Professor in the Foundations of Economics at the University of Texas at Austin and Professor of Labor Economics at the University of Maastricht, the Netherlands. He received his B.A. from the University of Chicago and his Ph.D. from Yale University. He taught from 1969-73 at Princeton, from 1973-93 at Michigan State, and has held visiting professorships at universities in the United States, Europe, Australia, and Asia. He is a Fellow of Econometric Society, a Research Associate of the National Bureau of Economic Research and the Institute for the Study of Labor (IZA), and past president of the Society of Labor Economists and of the Midwest Economics Association. He authored Labor Demand and The Economics of Work and Pay, and a wide array of articles in labor economics in the leading general and specialized economics journals. His research concentrates on time use, labor demand and unusual applications of labor economics (to suicide, sleep and beauty). He has taught introductory microeconomics since 1968 to more than 14,000 students and has won numerous university awards for his undergraduate teaching. He is a regular guest-blogger at http://freakonomics.blogs.nytimes.com/
Table of Contents
Introduction: Thinking About Economics Everywhere
Part I. Trade-Offs, Supply, and Demand Chapter 1. Trade-Offs and Opportunity Cost Chapter 2. Demand and Supply Curves Chapter 3. Demand and Supply—Quantity and Price in Unrestricted Markets
Chapter 4. Demand and Supply—Quantity and Price in Restricted Markets Chapter 5. The Consumer—Elasticities and Incentives
Chapter 6. The Consumer—How to Choose
Tips on Hunting for Economics Everywhere in Part I
Part II. Production, Cost, and Markets Chapter 7. Production and Cost Chapter 8. The Firm in the Short Run—Fixed and Variable Costs Chapter 9. Firms and Competitive Markets in the Long Run Chapter 10. Competitive Markets—Responses to Shocks Chapter 11. Efficiency and Well Being Chapter 12. Monopoly and Monopolistic Competition Chapter 13. Price Discrimination Chapter 14. Oligopoly (Including Game Theory) Tips on Hunting for Economics Everywhere in Part II
Part III. Input Markets, the Public Sector, and International Markets Chapter 15. Discounting and Present Value Chapter 16. Labor Markets Chapter 17. Human Capital, Discrimination, and Labor-Market Policy Chapter 18. Public Goods, Externalities, and Property Rights Chapter 19. Taxes and Public Expenditures Chapter 20. International Economics Tips on Hunting for Economics Everywhere in Part III