Microeconomics Principles and Applications with InfoTrac College Edition

by Hall, Robert E.; Lieberman, Marc

• ISBN13: 9780324019537
• ISBN10: 032401953X
• Edition: 2nd
• Format: Paperback
• Copyright: 2000-08-22
• Publisher: South-Western College Pub

Author Biography

Robert E. Hall is a prominent applied economist. He is the Robert and Carole McNeil Professor of Economics at Stanford University and Senior Fellow at Stanford's Hoover Institution where he conducts research on inflation, unemployment, taxation, monetary policy, and the economics of high technology. He received his Ph.D. from MIT and has taught there as well as at the University of California, Berkeley. Hall is Director of the research program on Economic Fluctuations of the National Bureau of Economic Research, and Chairman of the Bureau's Committee on Business Cycle Dating, which maintains the semiofficial chronology of the U.S. business cycle. He has published numerous monographs and articles in scholarly journals, and co-authored a popular intermediate text. Hall has advised the Treasury Department and the Federal Reserve Board on national economic policy, and has testified on numerous occasions before congressional committees. Marc Lieberman is Clinical Associate Professor of Economics at New York University. He received his Ph.D. from Princeton University. Lieberman has presented his extremely popular Principles of Economics course at Harvard, Vassar, the University of California, Santa Cruz, and the University of Hawaii, as well as at NYU, where he won the Economics Society Award for Excellence in Teaching. He is co-editor and contributor to The Road to Capitalism: Economic Transformation in Eastern Europe and the Soviet Union. Lieberman has consulted for the Bank of America and the Educational Testing Service. In his spare time, he is a professional screenwriter. He co-wrote the script for Love Kills, a thriller that aired on the USA Cable Network, and he periodically teaches screenwriting at NYU's School of Continuing and Professional Studies.

Table of Contents

PART I PRELIMINARIES
What Is Economics?	1	(19)
Scarcity, Choice, and Economic Systems	20	(26)
Supply and Demand	46	(35)
Working with Supply and Demand	81	(38)
PART II MICROECONOMIC DECISION MAKERS
Consumer Choice	119	(35)
Production and Cost	154	(33)
How Firms Make Decisions: Profit Maximization	187	(27)
PART III PRODUCT MARKETS
Perfect Competition	214	(31)
Monopoly	245	(29)
Monopolistic Competition and Oligopoly	274	(31)
PART IV LABOR, CAPTIAL, AND FINANCIAL MARKETS
The Labor Market	305	(38)
Income Inequality	343	(31)
Capital and Financial Markets	374	(34)
PART V EFFICIENCY, GOVERNMENT, AND THE GLOBAL ECONOMY
Economic Efficiency and the Competitive Ideal	408	(21)
Government's Role in Economic Efficiency	429	(35)
Comparative Advantage and the Gains from Trade	464	(23)
USING ALL THE THEORY USING ALL THE THEORY
The Microeconomics of Online Retailing	487