Microeconomics Principles and Policy

by Baumol, William J.; Blinder, Alan S.

• ISBN13: 9780324586220
• ISBN10: 0324586221
• Edition: 11th
• Format: Paperback
• Copyright: 2008-07-08
• Publisher: South-Western College Pub

Summary

This text is well-known for using the Keynesian model in the teaching of economics; yet, in recent editions, the authors expanded coverage of the growth model considerably to achieve more balanced coverage. The text uses the aggregate supply/aggregate demand model as a fundamental tool for learning macroeconomics. It achieves the right level of rigor and detail, presenting complicated concepts in a relatively straightforward manner and using timely economic data. Using puzzles, issues, and well-developed examples, the authors provide a good balance of theory to application, allowing you to relate the materials to your everyday life.

Table of Contents

Getting Acquainted With Economics

What Is Economics?

The Economy: Myth and Reality

The Fundamental Economic Problem: Scarcity and Choice

Supply and Demand: An Initial Look

The Building Blocks of Demand And Supply

Consumer Choice: Individual and Market Demand

Demand and Elasticity

Production, Inputs, and Cost: Building Blocks for Supply Analysis

Output, Price, and Profit: The Importance of Marginal Analysis

The Economics of the Stock Market

Markets and The Price System

The Firm and the Industry under Perfect Competition

Monopoly

Between Competition and Monopoly

Limiting Market Power: Regulation and Antitrust

The Virtues and Limitations Of Markets

The Case for Free Markets I: The Price System

The Shortcomings of Free Markets

The Market's Prime Achievement: Innovation and Growth

Externalities, the Environment and Natural Resources

Taxation and Resource Allocation

The Distribution of Income

Pricing the Factors of Production

Labor and Entrepreneurship: The Human Inputs

Poverty, Inequality, and Discrimination

International Trade and Comparative Advantage

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