Economics Principles, Applications and Tools

ISBN-10: 0136076440

ISBN-13: 9780136076445

Edition: 6th 2010

List price: $242.67
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Description:

This modern, Micro first book has a strong foundation in demand and supply. Its thoughtful coverage of change in demand vs. change in quantity demanded (also in supply coverage) enables readers to better visualize and truly understand the difference between these 2 fundamental concepts. Its hallmark feature includes a focus on the 5 Key Principles of Economics: 1) Opportunity Cost, 2) The Marginal Principle (comparing marginal benefits and marginal costs), 3) Diminishing Returns, 4) The Spillover Principle (for externalities in production and consumption), and, 5) The Reality Principle (distinguishing real from nominal magnitudes). For economists, financial analysts and other finance professionals.
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Book details

List price: $242.67
Edition: 6th
Copyright year: 2010
Publisher: Prentice Hall PTR
Publication date: 4/10/2009
Binding: Paperback
Pages: 800
Size: 8.75" wide x 11.00" long x 1.25" tall
Weight: 4.048
Language: English

Arthur O'Sullivan is a professor of economics at Lewis and Clark College in Portland, Oregon. After receiving his B.S. in economics at the University of Oregon, he spent two years in the Peace Corps, working with city planners in the Philippines. He received his Ph.D. in economics from Princeton University in 1981 and has taught at the University of California, Davis, and Oregon State University, winning several teaching awards at both schools. He recently accepted an endowed professorship at Lewis and Clark College, where he teaches microeconomics and urban economics. He is the author of the best-selling textbook, Urban Economics, currently in its sixth edition. Professor O'Sullivan's research explores economic issues concerning urban land use, environmental protection, and public policy. His articles have appeared in many economics journals, including theJournal of Urban Economics, Journal of Environmental Economics and Management, National Tax Journal, Journal of Public Economics, andJournal of Law and Economics. Professor O'Sullivan lives with his family in Lake Oswego, Oregon. For recreation, he enjoys hiking, boogie-boarding, paragliding, and squash.Steven M. Sheffrin is dean of the division of social sciences and professor of economics at the University of California, Davis. He has been a visiting professor at Princeton University,Oxford University, and the London School of Economics and has served as a financial economist with the Office of Tax Analysis of the United States Department of Treasury. He has been on the faculty of the University of California, Davis, since 1976 and has served as the chairman of the department of economics. He received his B.A. from Wesleyan University and his Ph.D. in economics from the Massachusetts Institute of Technology. Professor Sheffrin is the author of 10 other books and monographs and over 100 articles in the fields of macroeconomics, public finance, and international economics. His most recent books include Rational Expectations (second edition) and Property Taxes and Tax Revolts: The Legacy of Proposition 13 (with Arthur O'Sullivan and Terri Sexton). Professor Sheffrin has taught macroeconomics at all levels, from large introduction to principles classes (enrollments of 400) to graduate classes for doctoral students. He is the recipient of the Thomas Mayer Distinguished Teaching Award in economics. He lives with his wife Anjali (also an economist) in Davis, California, and has two daughters who have studied economics. In addition to a passion for current affairs and travel, he plays a tough game of tennis.Stephen Perez is chair of the economics department at California State University, Sacramento. After receiving his B.A. in economics at the University of California, San Diego, he received his Ph.D. in economics from the University of California, Davis, in 1994. He taught economics at Virginia Commonwealth University and Washington State University before coming to California State University, Sacramento, in 2001. He teaches macroeconomics at all levels as well as econometrics, sports economics, labor economics, and mathematics for economists. Professor Perez's research explores most macroeconomic topics. In particular, he is interested in evaluating the ability of econometric techniques to discover the truth, issues of causality in macroeconomics, and sports economics. His articles have appeared in many economics journals, including the Journal of Monetary Economics, Econometrics Journal, Economics Letters, Journal of Economic Methodology, Public Finance and Management, Journal of Economics and Business, Oxford Bulletin of Economics and Statistics, Journal of Money, Credit, and Banking, Applied Economics, and Journal of Macroeconomics.

Introduction and Key Principles
Introduction: What Is Economics?
The Key Principles of Economics
Exchange and Markets
Demand, Supply, and Market Equilibrium
The Basic Conceptsin Macroeconomics
Measuring a Nationrsquo;s Production and Income
Unemployment and Inflation
The Economy in the Long Run
The Economy at Full Employment
Why Do Economies Grow?
Economic Fluctuations
Aggregate Demand and Aggregate Supply
Fiscal Policy
The Income-Expenditure Model
Investment and Financial Markets
Money, Banking, and Monetary Policy
Money and the Banking System
The Federal Reserve and Monetary Policy
Inflation, Unemployment, and Economic Policy
Modern Macroeconomics: From the Short Run to the Long Run
The Dynamics of Inflation and Unemployment
Macroeconomic Policy Debates
The International Economy
International Trade and Public Policy
The World of International Finance
A Closer Look at Demand and Supply
Elasticity: A Measure of Responsiveness
Market Efficiency and Government Intervention
Consumer Choice Using Utility Theory
Market Structures and Pricing
Production Technology and Cost
Perfect Competition
Monopoly and Price Discrimination
Market Entry and Monopolistic Competition
Oligopoly and Strategic Behavior
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