Principles of Economics

by Case, Karl E.; Fair, Ray C.

• ISBN13: 9780130957108
• ISBN10: 0130957100
• Edition: 5th
• Format: Hardcover
• Copyright: 1998-06-01
• Publisher: Pearson College Div

Summary

For two-semester courses in Principles of Economics. Written by an award-winning educator and a highly respected macroeconomist, the text is built on the pioneering stories, graphs, and equations pedagogy that's successfully made economics accessible and relevant to all types of students. Student-friendly yet rigorous, this best-selling text helps the student integrate the theory, issues, and policies into an economic way of thinking. Known for it's lively writing style, clear explanations, international perspective, well-crafted graphs, relevant examples, and unparalleled supplements package, the text supports both the instructor and student through this first, often difficult, course in Economics.

Table of Contents

INTRODUCTION	1	(126)
PART 1: Introduction to Economics	1	(126)
1. The Scope and Method of Economics	1	(24)
2. The Economic Problem: Scarcity and Choice	25	(20)
3. The Structure of the U.S. Economy: The Private, Public, and International Sectors	45	(22)
4. Demand, Supply, and Market Equilibrium	67	(30)
5. The Price System, Supply and Demand, and Elasticity	97	(30)
MICROECONOMICS	127	(370)
PART 2: Foundations of Microeconomics: Consumers and Firms	127	(170)
6. Household Behavior and Consumer Choice	127	(32)
7. The Production Process: The Behavior of Profit-Maximizing Firms	159	(24)
8. Short-Run Costs and Output Decisions	183	(24)
9. Costs and Output Decisions in the Long Run	207	(26)
10. Input Demand: The Labor and Land Markets	233	(27)
11. Input Demand: The Capital Market and the Investment Decision	253	(20)
12. General Equilibrium and the Efficiency of Perfect Competition	273	(24)
PART 3: Market Imperfections and the Role of Government	297	(132)
13. Monopoly	297	(26)
14. Monopolistic Competition and Oligopoly	323	(24)
15. Antitrust Policy and Regulations	347	(26)
16. Externalities, Public Goods, Imperfect Information, and Social Choice	373	(30)
17. Income, Distribution and Poverty	403	(26)
PART 4: Current Microeconomic Issues	429	(68)
18. Public Finance: The Economics of Taxation	429	(22)
19. The Economics of Labor Markets and Labor Unions	451	(24)
20. Current Topics of Applied Microeconomics: Health Care, Immigration, and Urban Problems	475	(22)
MACROECONOMICS	497	(314)
PART 5: Concepts and Problems in Macroeconomics	497	(62)
21. Introduction to Macroeconomics	497	(20)
22. Measuring National Output and National Income	517	(22)
23. Macroeconomic Concerns: Unemployment, Inflation, and Growth	539	(20)
PART 6: Macroeconomic Principles and Policy	559	(98)
24. Aggregate Expenditure and Equilibrium Output	559	(24)
25. The Government and Fiscal Policy	583	(26)
26. The Money Supply and the Federal Reserve System	609	(26)
27. Money Demand, and Equilibrium Interest Rate, and Monetary Policy	635	(22)
PART 7: Macroeconomic Analysis and Issues	657	(112)
28. Money, the Interest Rate, and Output: Analysis and Policy	657	(18)
29. Aggregate Demand, Aggregate Supply, and Inflation	675	(26)
30. The Labor Market, Unemployment, and Inflation	701	(20)
31. Deficit Reduction, Fed Behavior, Stabilization, Stock Market Effects, and Macro Issues Abroad	721	(20)
32. Household and Firm, Behavior in the Macroeconomy	741	(28)
PART 8: Debates in Macroeconomics and Economic Growth	769	(42)
33. Debates in Macroeconomics: Monetarism, New Classical Theory, and Supply-Side Economics	769	(18)
34. Economic Growth and Productivity	787	(24)
INTERNATIONAL ECONOMICS	811
PART 9: The Global Economy	811
35. International Trade, Comparative Advantage, and Protectionism	811	(22)
36. Open-Economy Macroeconomics: The Balance of Payments and Exchange Rates	833	(32)
37. Economic Growth in Developing Nations	865	(22)
38. Economies in Transition and Alternative Economic Systems	887
CONCISE DICTIONARY OF ECONOMIC TERMINOLOGY	D-1
SOLUTIONS TO EVEN-NUMBERED PROBLEMS	S-1
INDEX	I-1