Principles of Economics

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

• ISBN13: 9780136055488
• ISBN10: 0136055486
• Edition: 9th
• Format: Hardcover
• Copyright: 2009-01-01
• Publisher: Prentice Hall

Summary

Reviewers tell us that Case/Fair is one of the all-time bestselling principles of economics texts because they trust it to be clear, thorough and complete. This well-respected author team is joined for the 9th edition by a new co-author, Sharon Oster. Sharonrs"s research and teaching experience brings new coverage of modern topics and an applied approach to economic theory, as demonstrated in the new Economics in Practice feature. Introduction to Economics; The Market System: Choices Made by Households and Firms; Market Imperfections and the Role of Government; Concepts and Problems in Macroeconomics; The Core of Macroeconomic Theory ; Further Macroeconomic Issues; The World Economy Case/Fair/Oster, believe that the best way to understand how market opportunities operate and the best way to understand basic economic theory is to work through the perfectly competitive model first, including discussions of output markets and input markets, and the connections between them, before turning to noncompetitive market structures, such as monopoly and oligopoly.

Table of Contents

Introduction to Economics

The Scope and Method of Economics

The Economic Problem: Scarcity and Choice

Demand, Supply and Market Equilibrium

Demand and Supply Applications

Elasticity

The Market System: Choices Made by Households and Firms

Household Behavior and Consumer Choice

The Production Process: The Behavior of Profit-Maximizing Firms

Short-Run Costs and Output Decisions

Long-Run Costs and Output Decisions

Input Demand: The Labor and Land Markets

Input Demand: The Capital Market and the Investment Decision

General Equilibrium and the Efficiency of Perfect Competition

Market Imperfections and the Role of Government

Monopoly and Antitrust Policy

Oligopoly

Monopolistic Competition

Externalities, Public Goods and Social Choice

Uncertainty and Asymmetric Information

Income Distribution and Poverty

Public Finance: The Economics of Taxation

Concepts and Problems in Macroeconomics

Introduction to Macroeconomics

Measuring National Output and National Income

Unemployment, Inflation, and Long-Run Growth

The Core of Macroeconomic Theory

Aggregate Expenditure and Equilibrium Output

The Government and Fiscal Policy

The Money Supply and the Federal Reserve System

Money Demand and the Equilibrium Interest Rate

Aggregate Demand in the Goods and Money Markets

Aggregate Supply and the Equilibrium Price Level

The Labor Market in the Macro Economy

Further Macroeconomic Issues

Policy Timing, Deficit Targeting, and Stock Market Effects

Household and Firm Behavior in the Macroeconomy: A Further Look

Long-Run Growth

Debates in Macroeconomics: Monetarism, New Classical Theory, and Supply-Side Economics

The World Economy

International Trade, Comparative Advantage, and Protectionism

Open-Economy Macroeconomics: The Balance of Payments and Exchange Rates

Economic Growth in Developing and Transitional Economics

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