Modern Principles of Economics

by Cowen, Tyler; Tabarrok, Alex

• ISBN13: 9781429239974
• ISBN10: 1429239972
• Edition: 2nd
• Format: Hardcover
• Copyright: 2011-12-05
• Publisher: Worth Publishers

Summary

In a world full of economics blogs, Cowen and Tabarrok’s Marginal Revolution (marginalrevolution.com) ranks is one of the Web’s most popular and most respected. The same qualities that make the blog so distinctive are also behind the success Modern Principles of Economics—engaging authors, unbiased presentations of essential ideas, and a knack for revealing the “invisible hand” of economics at work.  The thoroughly updated new edition of Modern Principles again draws on a wealth of captivating applications to show readers how economics shed light on business, politics, world affairs, and everyday life.

Table of Contents

1. The Big Ideas
2. The Power of Trade and Comparative Advantage

 

Supply and Demand
3. Supply and Demand
4. Equilibrium: How Supply and Demand Determine Prices
5. Elasticity and its Applications
Appendix: Other Types of Elasticities
Appendix: Elasticities with Excel
6. Taxes and Subsidies

 

The Price System
7. The Price System: Signals, Speculation and Prediction
8. Price Ceilings and Price Floors
9. International Trade
10. Externalities: When Prices Send the Wrong Signals

 

Firms and Factor Markets
11. Costs
Appendix: Using Excel to Graph Cost Curves
12. Competition and the Invisible Hand
13. Monopoly
14. Price Discrimination
Appendix: Solving Price Discrimination Problems with Excel
15. Cartels, Oligopolies, and Monopolistic Competition
16. The Economics of Network Goods: Competing for Monopoly
17. Labor Markets

 

Government
18. Public Goods and the Tragedy of the Commons
Appendix: The Tragedy of the Commons: How Fast?
19. Political Economy and Public Choice
20. Economics, Ethics and Public Policy

 

Decision Making for Businesses, Investors, and Consumers
21. Managing Incentives
22. Stock Markets and Personal Finance
23. Consumer Choice

 

Economic Growth
24. GDP and The Measurement of Progress
25. The Wealth of Nations and Economic Growth
Appendix: The Magic of Compound Growth: Using a Spreadsheet
26. Growth, Capital Accumulation and the Economics of Ideas: Catching Up vs. The Cutting Edge
Appendix: Excellent Growth
27. Savings, Investment, and the Financial System
Appendix: Bond Pricing and Arbitrage

 

Business Fluctuations
28.  Unemployment and Labor Force Participation
29. Inflation and the Quantity Theory of Money
Appendix: Get Real! An Excellent Adventure
30. Business Fluctuations: Aggregate Demand and Supply
31. Transmission and Amplification Mechanisms
Appendix: Business Fluctuations and the Solow Model

 

Macroeconomic Policy and Institutions
32. The Federal Reserve System and Open Market Operations
Appendix: The Money Multiplier Process in Detail
33. Monetary Policy
34. The Federal Budget: Taxes and Spending
35. Fiscal Policy

 

International Economics
36. International Finance