Economics / Edition 7

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Written in an informal colloquial style, this student-friendly Principles of Economics textbook does not sacrifice intellectual depth in its quest for accessibility. The author’s primary concern is to instill “economic sensibility” in the student. Colander emphasizes the intellectual and historical context to which the economic models are applied.

Distinguishing features found within Colander’s text are:

• Cutting Edge and Modern

• Colloquial Style Narrative

• Focus on Policy

• Emphasis on the Importance of Institutions and History

• Focus on Modeling: Economics is a method of reasoning, not truths.

• Presents Alternative Perspectives in Economics

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Product Details

  • ISBN-13: 9780073402864
  • Publisher: McGraw-Hill Companies, The
  • Publication date: 10/28/2007
  • Edition description: Older Edition
  • Edition number: 7
  • Pages: 924
  • Product dimensions: 8.70 (w) x 10.00 (h) x 1.40 (d)

Meet the Author

David C. Colander is a professor at Middlebury College.

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Table of Contents

PART 1 Thinking Like an Economist 5
1 Economics and Economic Reasoning 5
2 The Economic Organization of Society 31
3 Supply and Demand 59
4 Using Supply and Demand 84
5 U.S. Economic Institutions 105
6 An Introduction to the World Economy 129

PART 2 Macroeconomics 157
I Macroeconomic Problems, Concepts, and Institutions 157
7 Economic Growth, Business Cycles, and Inflation 157
8 National Income Accounting 183
9 Money, Banking, and the Financial Sector 207
II Macroeconomic Models: The Basics 245
10 The Modern Macroeconomic Debate 245
11 The Macro Debate in Reference to the Aggregate Production/Aggregate Expenditures Model 280
12 Demand Management, Fiscal Policy, and the Debate about Activist Demand Management Policy 306
III Traditional Macro Policy Debates 333
13 Monetary Policy and the Debate about Macro Policy 333
14 Inflation and Its Relationship to Unemployment and Growth 358
15 International Dimensions of Monetary and Fiscal Policies 380
16 Open Economy Macro: Exchange Rate and Trade Policy 394
17 The Art of Traditional Macro Policy 424
IV Structural Macro Policy Debates 446
18 Structural Supply-Side Macro Policies 446
19 Deficits and Debt 463
20 Growth and the Macroeconomics of Developing and Transitional Economies 484

PART 3 Microeconomics 509
I Microeconomic Concepts: The Basics 509
21 Describing Supply and Demand: Elasticities 509
22 The Logic of Individual Choice: The Foundation of Supply and Demand 536
23 Production and Cost Analysis I 557
24 Production and Cost Analysis II 572
II Competition, Monopoly, and Market Structure 592
25 Perfect Competition 592
26 Monopoly 616
27 Monopolistic Competition, Oligopoly, and Strategic Pricing 636
28 Competition in the Real World 659
III Thinking Like an Economist: Microeconomic Policy Debates 679
29 Politics and Economics: The Case of Agricultural Markets 679
30 Microeconomic Policy and Economic Reasoning 697
31 The Role of Government in the Economy 708
32 Economics and the Environment 729
33 Antitrust and Industrial Policies 747
IV Distribution and Factor Markets 769
34 Who Gets What? The Distribution of Income 769
35 Work and the Labor Market 794
36 Nonwage and Asset Income: Rents, Profits, and Interest 820
V International Dimensions of Microeconomics 833
37 International Trade Restrictions 833
38 Growth and the Microeconomics of Developing Countries 856
39 Socialist Economies in Transition 872

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