Economics: Principles and Tools / Edition 2

Economics: Principles and Tools / Edition 2

by Arthur O'Sullivan, Steven M. Sheffrin, Steven M. Sheffrin
     
 

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

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Overview

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.

Product Details

ISBN-13:
9780130273833
Publisher:
Pearson Education
Publication date:
06/21/2000
Series:
Prentice-Hall Series in Economics
Edition description:
Older Edition
Pages:
735
Product dimensions:
8.20(w) x 10.32(h) x 1.41(d)

Table of Contents

Preface
A Guided Tour
1Introduction: What Is Economics?1
2Key Principles of Economics22
3Markets and Government in the Global Economy37
4Supply, Demand, and Market Equilibrium57
5Elasticity: A Measure of Responsiveness81
6Government Intervention in Markets100
7Consumer Choice124
8The Firm's Short-Run and Long-Run Cost Curves150
9Perfect Competition in the Short Run170
10Long-Run Supply and Market Dynamics192
11Monopoly and Price Discrimination208
12Entry Decisions: Natural Monopoly and Monopolistic Competition229
13Oligopoly and Antitrust Policy246
14Public Goods, Taxes, and Public Choice271
15Environmental Problems and Public Policy: Global Warming, Ozone Depletion, Acid Rain, and Urban Smog294
16Imperfect Information and Disappearing Markets316
17The Labor Market332
18Interest Rates and Present Value358
19Economic Challenges for the Twenty-First Century376
20The Big Ideas in Macroeconomics401
21Behind the Economic Statistics422
22Classical Economics: The Economy at Full Employment443
23Why Do Economies Grow?462
24Coordinating Economic Activity: Aggregate Demand and Supply486
25Keynesian Economics and Fiscal Policy507
26Investment and Financial Intermediation534
27Money, the Banking System, and the Federal Reserve551
28Monetary Policy in the Short Run569
29From the Short Run to the Long Run589
30The Dynamics of Inflation and Unemployment604
31Ten Questions (and Answers) about Government Debt and Deficits625
32International Trade and Public Policy641
33The World of International Finance663
GlossaryG-1
Solutions to Selected Problems and Discussion QuestionsS-1
IndexI-1

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