Economics Principles and Applications, 2006 Update (with InfoTrac)

by Hall, Robert E.; Lieberman, Marc

• ISBN13: 9780324335811
• ISBN10: 0324335814
• Edition: 3rd
• Format: Hardcover
• Copyright: 2005-11-01
• Publisher: South-Western College Pub

Summary

Because issues of policy and real applications are so important to your course, Hall and Lieberman have made their comprehensive, cutting edge text as current as today's headlines. ECONOMICS: PRINCIPLES AND APPLICATIONS, 3e, 2006 Update gives students a real-world, up-to-the-minute overview that presents economics as a unified discipline. Taking a no-nonsense approach to economic theory and application, the Update is very accessible, equipping readers with a solid foundation in economics that they can build upon wherever their career paths may lead. The Update's modern approach to theory is captivating and appeals to a broad range of teaching styles and philosophies. This proven author team focuses on core theoretical ideas and presents a systematic application of theoretical tools to real-world domestic and global issues, teaching students how to use analytical processes to develop and sharpen their own economic analysis skills. In addition, the book's innovative Aplia homework management solution provides the most integrated text and homework management system available.

Table of Contents

Preliminaries

What Is Economics?

Scarcity, Choice, and Economic Systems

Supply and Demand

Working with Supply and Demand

Microeconomic Decision Makers

Consumer Choice

Production and Cost

How Firms Make Decisions: Profit Maximization

Product Markets

Perfect Competition

Monopoly

Monopolistic Competition and Oligopoly

Labor, Capital, and Financial Markets

The Labor Market

Economic Inequality

Capital and Financial Markets

Efficiency, Government, and the Global Economy

Economic Efficiency and the Role of Government

Comparative Advantage and the Gains from International Trade

Using all the Theory: The Microeconomics Of Domestic Security

Macroeconomics: Basic Concepts

What Macroeconomics Tries to Explain

Production, Income, and Employment

The Monetary System, Prices, and Inflation

Long-Run Macroeconomics

The Classical Long-Run Model

Economic Growth and Rising Living Standards

Short-Run Macroeconomics

Economic Fluctuations

The Short-Run Macro Model

Money, Prices, and the Macroeconomy

The Banking System and the Money Supply

The Money Market and the Interest Rate

Aggregate Demand and Aggregate Supply

Macroeconomic Policy

Inflation and Monetary Policy

Fiscal Policy: Taxes, Spending, and the Federal Budget

Exchange Rates and Macroeconomic Policy

Using all the Theory: The Stock Market And The Macroeconomy

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