Principles of Economics BK+CD

by Case, Karl E.

• ISBN13: 9780130737724
• ISBN10: 0130737720
• Edition: 6th
• Format: Hardcover
• Copyright: 2001-06-01
• Publisher: PRENTICE HALL

Summary

Written by an award-winning educator and a highly respected macroeconomist, this current and comprehensive book introduces readers to the discipline of economics and provides a basic understanding of how economies function as it skillfully blends economic theory, institutional material, and real-world applications throughout. Opens with a sound introduction to economics, and presents in-depth treatments on the foundations of microeconomics: consumers and firms; market imperfections and the role of government; concepts and problems in macroeconomics; the goods and money markets; macroeconomic analysis; international economics and the world economy. Explains all concepts in a three-tiered system to ensure understanding -- first in the context of a simple story in words followed by a numerical illustration; then by graphing the numerical example; and finally, by using a representative equation. Updates all charts, tables, and graphs in the book with the most current data available, and discusses many high interest topics such as the impact of technology on the wor

Table of Contents

Introduction
PART 1: Introduction to Economics	1	(102)
The Scope and Method of Economics	1	(24)
The Economic Problem: Scarcity and Choice	25	(20)
Demand, Supply, and Market Equilibrium	45	(30)
The Price System, Demand and Supply, and Elasticity	75	(28)
MICROECONOMICS
PART 2: Foundations of Microeconomics: Consumers and Firms	103	(160)
Household Behavior and Consumer Choice	103	(30)
The Production Process: The Behavior of Profit-Maximizing Firms	133	(22)
Short-Run Costs and Output Decisions	155	(22)
Costs and Output Decisions in the Long Run	177	(26)
Input Demand: The Labor and Land Markets	203	(20)
Input Demand: The Capital Market and the Investment Decision	223	(20)
General Equilibrium and the Efficiency of Perfect Competition	243	(20)
PART 3: Market Imperfections and the Role of Government	263	(112)
Monopoly and Antitrust Policy	263	(28)
Monopolistic Competition and Oligopoly	291	(26)
Externalities, Public Goods, Imperfect Information, and Social Choice	317	(32)
Income Distribution and Poverty	349	(26)
MACROECONOMICS
PART 4: Concepts and Problems in Macroeconomics	375	(56)
Introduction to Macroeconomics	375	(18)
Measuring National Output and National Income	393	(20)
Long-Run and Short-Run Concerns: Growth, Productivity, Unemployment, and Inflation	413	(18)
PART 5: The Goods and Money Markets	431	(92)
Aggregate Expenditure and Equilibrium Output	431	(24)
The Government and Fiscal Policy	455	(24)
The Money Supply and the Federal Reserve System	479	(26)
Money Demand, the Equilibrium Interest Rate, and Monetary Policy	505	(18)
PART 6: Macroeconomic Analysis	523	(144)
Money, the Interest Rate, and Output: Analysis and Policy	523	(18)
Aggregate Demand, Aggregate Supply, and Inflation	541	(26)
The Labor Market, Unemployment, and Inflation	567	(20)
Macroeconomic Issues and Policy	587	(18)
Household and Firm Behavior in the Macroeconomy: A Further Look	605	(26)
Long-Run Growth	631	(20)
Debates in Macroeconomics: Monetarism, New Classical Theory, and Supply-Side Economics	651	(16)
INTERNATIONAL ECONOMICS
PART 7: The World Economy	667
International Trade, Comparative Advantage, and Protectionism	667
Open-Economy Macroeconomics: The Balance of Payments and Exchange Rates	691
Economic Growth in Developing and Transitional Economies	719
Glossary	G-1
Solutions to Even-Numbered Problems	S-1
Index	I-1
Photo Credits	P-1