Economics : Principles and Applications and Tools with MyEconLab and EBook 2-Sem Student Access Package

by O'Sullivan, Arthur; Sheffrin, Steven; Perez, Stephen

• ISBN13: 9780131595996
• ISBN10: 0131595997
• Additional ISBN(s): 9780132235655, 9780138016739
• Edition: 5th
• Format: Paperback
• Copyright: 2010-01-01
• Publisher: Prentice Hall
• More Book Details
• Purchase Benefits

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

Introduction and Key Principles

Introduction: What is Economics?

Appendix: Using Graphs & Percentages

Key Principles of Economics

Exchange and Markets

Demand, Supply, and Market Equilibrium

The Basic Concepts in Macroeconomics

Measuring a Nation's Production and Income

Unemployment and Inflation

The Economy in the Long Run

The Economy at Full Employment

Why Do Economies Grow?

Appendix: A Model of Capital Deepening

Economic Fluctuations and Fiscal Policy

AD/AS

Fiscal Policy

The Income Expenditure Model

Appendix: Formulas for Equilibrium Income & the Multiplier

Investment and Financial Markets

Money, Banking, and Monetary Policy

Money and the Banking System

Appendix: Formula for Deposit Creation

The Federal Reserve and Monetary Policy

Inflation, Unemployment, and Economic Policy

Modern Macroeconomics: From the Short Run to the Long Run

The Dynamics of Inflation and Unemployment

Macroeconomic Policy Debates

The International Economy

International Trade and Public Policy

The World of International Finance

A Closer Look at Demand and Supply

Elasticity: A Measure of Responsiveness

Market Efficiency and Government Intervention

Consumer Choice with Utility Theory

Appendix: Consumer Choice with Indifference Curves

Market Structures and Pricing

Production Technology and Cost

Perfect Competition: Short Run and Long Run

Monopoly and Price Discrimination

Market Entry and Monopolistic Competition

Oligopoly and Strategic Behavior

Controlling Market Power: Antitrust and Regulation

Externalities and Information

Imperfect Information and Disappearing Markets

Public Goods, Taxes, and Public Choice

External Costs and Environmental Policy

The Labor Market and Income Distribution

The Labor Market, Income, and Poverty

Unions, Monopsony, and Imperfect Information

Table of Contents provided by Publisher. All Rights Reserved.