Microeconomics Private and Public Choice

by Gwartney, James D.; Stroup, Richard L.; Sobel, Russell S.; Macpherson, David A.

• ISBN13: 9780324320367
• ISBN10: 0324320361
• Edition: 11th
• Format: Paperback
• Copyright: 2005-03-22
• Publisher: South-Western College Pub

Summary

Authors James D. Gwartney, Richard L. Stroup, Russell S. Sobel, and David Macpherson believe that a course on principles of economics should focus on the power and relevance of the economic way of thinking. It is this belief and corresponding writing approach that has made MICROECONOMICS: PRIVATE AND PUBLIC CHOICE one of South Western Thomson Learning's most solid and enduring texts. Throughout this text, the authors integrate applications and real-world data in an effort to make the basic concepts of economics come alive for the reader.

Table of Contents

The Economic Way of Thinking

The Economic Approach

Some Tools of the Economist

Markets and Government

Supply, Demand, and the Market Process

Supply and Demand: Applications and Extensions

Difficult Cases for the Market

The Economics of Collective Decision Making

Core Microeconomics

Consumer Demand and Elasticity

Costs and the Supply of Goods

Price Takers and the Competitive Process

Price-Searcher Markets with Low Entry Barriers

Price-Searcher Markets with High Entry Barriers

The Supply of and Demand for Productive Resources

Earnings, Productivity, and the Job Market

Investment, the Capital Market, and the Wealth of Nations

Income Inequality and Poverty

Applying the Basics

Government Spending and Taxation

The Internet: How Is It Changing the Economy?

The Economics of Social Security

The Stock Market: What Does It Do and How Has it Performed?

The Economics of Health Care

School Choice: Can It Improve the Quality of Education?

Is Discrimination Responsible for the Earnings Difference between Men and Women?

How Does Government Regulation Affect Your Life?

Natural Resources and the Future

Economics and the Environment

Appendices

General Business and Economic Indicators

Answers to Selected Critical Analysis Questions

Glossary

Credits

Index

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