9780132063685

Economics : Principles and Tools

by ;
  • ISBN13:

    9780132063685

  • ISBN10:

    0132063689

  • Edition: 1st
  • Format: Hardcover
  • Copyright: 1/1/1998
  • Publisher: Prentice Hall
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Summary

This modern, Micro first book has a strong foundation in demand and supply. Its thoughtful coverage of change in demand vs. change in quantity demanded (also in supply coverage) enables readers to better visualize and truly understand the difference between these 2 fundamental concepts. Its hallmark feature includes a focus on the 5 Key Principles of Economics: 1) Opportunity Cost, 2) The Marginal Principle (comparing marginal benefits and marginal costs), 3) Diminishing Returns, 4) The Spillover Principle (for externalities in production and consumption), and, 5) The Reality Principle (distinguishing real from nominal magnitudes). For economists, financial analysts and other finance professionals.

Table of Contents

PREFACE xxi(7)
A GUIDED TOUR xxviii
Part I Introduction and Key Principles 1(80)
1 Introduction: What Is Economics?
1(21)
2 Key Principles of Economics
22(15)
3 Markets and Government in the Global Economy
37(20)
4 Supply, Demand, and Market Equilibrium
57(24)
Part II A Closer Look at Demand and Supply 81(69)
5 Elasticity: A Measure of Responsiveness
81(19)
6 Government Intervention in Markets
100(24)
7 Consumer Choice
124(26)
Part III Market Structure and Pricing 150(121)
8 The Firm's Short-Run and Long-Run Cost Curves
150(20)
9 Perfect Competition in the Short Run
170(22)
10 Long-Run Supply and Market Dynamics
192(16)
11 Monopoly and Price Discrimination
208(21)
12 Entry Decisions: Natural Monopoly and Monopolistic Competition
229(17)
13 Oligopoly and Antitrust Policy
246(25)
Part IV Market Failure: Spillovers and Information 271(61)
14 Public Goods, Taxes, and Public Choice
271(23)
15 Environmental Problems and Public Policy: Global Warming, Ozone Depletion, Acid Rain, and Urban Smog
294(22)
16 Imperfect Information and Disappearing Markets
316(16)
Part V The Markets for Labor and Capital 332(69)
17 The Labor Market
332(26)
18 Interest Rates and Present Value
358(18)
19 Economic Challenges for the Twenty-First Century
376(25)
Part VI The Basic Concepts of Macroeconomics 401(42)
20 The Big Ideas in Macroeconomics
401(21)
21 Behind the Economic Statistics
422(21)
Part VII The Economy in the Long Run 443(43)
22 Classical Economics: The Economy at Full Employment
443(19)
23 Why Do Economies Grow?
462(24)
Part VIII Economic Fluctuations 486(65)
24 Coordinating Economic Activity: Aggregate Demand and Supply
486(21)
25 Keynesian Economics and Fiscal Policy
507(27)
26 Investment and Financial Intermediation
534(17)
Part IX Money, Banking, and Monetary Policy 551(38)
27 Money, the Banking System, and the Federal Reserve
551(18)
28 Monetary Policy in the Short Run
569(20)
Part X Inflation, Unemployment, and Government Deficits 589(52)
29 From the Short Run to the Long Run
589(15)
30 The Dynamics of Inflation and Unemployment
604(21)
31 Ten Questions (and Answers) about Government Debt and Deficits
625(16)
Part XI The International Economy 641
32 International Trade and Public Policy
641(22)
33 The World of International Finance
663
GLOSSARY G-1
SOLUTIONS TO SELECTED PROBLEMS AND DISCUSSION QUESTIONS S-1
INDEX I-1

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