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Economics and Economic Change

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ISBN-10: 0273693514

ISBN-13: 9780273693512

Edition: 2nd 2006 (Revised)

Authors: Graham Dawson, Open University Staff, Paul Anand, Suma Athreye, Susan Himmelweit

List price: $133.33
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Book details

List price: $133.33
Edition: 2nd
Copyright year: 2006
Publisher: Prentice Hall PTR
Publication date: 5/12/2006
Binding: Mixed Media
Pages: 672
Size: 7.50" wide x 9.50" long x 1.00" tall
Weight: 2.530
Language: English

Graham Dawson is a Reader in Cultural History at the University of Brighton. His research has focused on the inter-relations between cultural memory, narrative and identity, and on the memory of war in modern times. He is author of Soldier Heroes: British Adventure, Empire and the Imagining of Masculinities (Routledge, 1994), and a co-editor and contributor to Trauma: Life Stories of Survivors and Commemorating War: The Politics of Memory

Dr Simon Bromley is Senior Lecturer in International Political Economy in the Faculty of Social Sciences at The Open University. He is the author of American Hegemony and World Oil (Polity Press, 1990) and Rethinking Middle East Politics (Polity Press, 1993). He has recently contributed to and edited Governing the European Union (Sage, 2001).Dr Suma Athreye has a degree in Science and Technology Policy Studies from the Science Policy Research Unit (SPRU) in 1996. She was a Research Fellow, Centre for Business Research at the University of Cambridge and taught at the Manchester School of Management at UMIST. Her main research interests lie in the areas of Economics of Technological Change, Industrial Development, and Economic Geography.

Preface
Introduction
Microeconomics
Are we living through a new industrial revolution?
Living and working in the 'new economy'
Introduction
Understanding the new economy
The benefits and costs of the new economy
Conclusion
Information technology: a new era?
Introduction
Technological change and economic growth
Information technology, productivity and growth
'Garage tinkerers': new economy or industry life cycle?
Case study: Cars - from technological change to marketing and back?
Conclusion
Innovation, markets and industrial change
Technological change, demand and costs
Market demand
Case study: Digital outsells film
Firms, costs and technology
Technological change and industrial structure
Case study: BMW wants to make internal-combustion engines that run on hydrogen
Conclusion
How do firms compete? Markets and policy
Monopoly power and innovation
Monopoly, innovation and competition
Case study: Breaking up Microsoft?
Monopoly power and the firm's revenues
Pure monopoly
Contestability and barriers to entry
Competition through innovation
Monopoly power and competition policy dilemmas
Conclusion
Competitive markets
Introduction
The perfectly competitive firm
The perfectly competitive industry
Market demand, supply and equilibrium
Case study: An economic history of chocolate
Monopoly and perfect competition compared
Conclusion
Strategic competition: conflict and co-operation
Introduction: strategy matters
Introducing game theory
Collusion to restrict output
Pricing and strategic competition
First-mover advantage
Strategic alliances
Strategic competition policy
Case study: From collusion to art wars
Conclusion: why strategy matters
What makes an economy successful? Work, well-being and the state
The labour market
Introduction
The perfectly competitive labour market
From perfect to imperfect competition: minimum-wage legislation
Case study: Should Florida introduce a minimum wage?
Imperfectly competitive labour markets: trade unions and segmentation
Imperfectly competitive labour markets: efficiency wages
Conclusion
Welfare: from income to well-being
Introduction: Socrates and the Pot Noodle
The economic wealth of nations
Utility, welfare and markets
Case study: The value of life and government policy
Well-being
Conclusion
The economics of governance
Markets, inequality and governance
Shaping market incentives and providing public goods
Governing the commons: the scope for collective action
Inequality and redistribution
Case study: Inequality measurement and the Lorenz curve
The welfare state and economic efficiency
Why do governments do what they do?
Conclusion: governance with endogenous economists
Health and health care: markets, ethics and inequality
Introduction
Market failure in health-care finance and delivery
Ethics, rationing and redistribution
Case study: Managed competition in the NHS
Conclusion
Macroeconomics
National economies
Macroeconomics and economic policy
Introduction
The Keynesian revolution
The resurgence of economic liberalism
Case study: Unemployment in Germany
Conclusion
The circular flow of income, national income and money
Introduction
The circular flow of income
Case study: The US twin deficits
Money and the economy
Conclusion
Aggregate demand
Introduction
The determinants of aggregate demand in a closed economy with no government sector
The basic model of income determination
The scope for government policy
Case study: Has government spending been used to counteract fluctuations in investment?
Conclusion
Investment and capital accumulation
Introduction
Investment
Case study: Financing investment in tourism
Influences on investment
Investment and output cycles
Investment and policy
Conclusion
Winners and losers from globalization: the international economy
International trade and production
Introduction
World trade
Comparative advantage and the gains from trade
Sources of comparative advantage
Trade policy
Case study: Trade liberalization and agricultural tariffs
Trade and market structure
Foreign direct investment and the multinational firm
Conclusion
Globalization, inequality and economic growth
Introduction
What is globalization?
Case study: Global production of Lee Cooper LC10 jeans
How much of a gain?
Case study: Globalization and unemployment in developing countries
Globalization and growing inequality: are they related?
Globalization and economic growth: are they related?
Conclusion
National currencies and international money markets
Introduction
The balance of payments
Exchange rates and factors influencing their determination
Monetary and fiscal policies in an open economy
The euro
Case study: The UK and the euro
Conclusion
Looking into the long term
Unemployment and inflation
Introduction
The trade-off between inflation and unemployment
The costs of unemployment versus the costs of inflation
Inflation, unemployment and expectations
UK macroeconomic policy
Case study: The UK Phillips curve 1991-2001
Conclusion
Macroeconomic performance and stabilization
Introduction
Macroeconomic management: some perennial problems
Case studies of stabilization failure
Case study: German hyperinflation, 1918-23
Case study: The Great Depression of the early 1930s
Case study: The Asian crisis of 1997-98
Interactions between trend growth and stabilization policy
How growth and stabilization interact: case studies
Case study: The Golden Age
Case study: The new economy in 1990s USA
Conclusion
Environmental sustainability
Introduction
Physical limits to growth
Case study: Cutting down on carbon
Ethics and the social limits to growth
Case study: Opportunities for ethical investment
Beyond Kyoto: making a carbon market?
Conclusion
Answers to exercises
References
Acknowledgements
Index