Economics: Ideas and Issues For a Sustainable World / Edition 2

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Overview

Imagine the best teacher you've ever had giving you a personal course in economics. That's Evensky's style – and accomplishment. His is an economics based solidly on the values of human flourishing, a humane and yet tough-minded approach to the Dismal Science.”

- Deirdre McCloskey, author of Economical Writing

Economics: Ideas and Issues for a Sustainable World guides students through the standard economic model from micro foundations to macro implication in a technically rich, accessible, and engaging presentation. It puts economics into a larger social and geopolitical context, including in-depth analysis of sustainability, globalization, and ethics in market systems.

This text has been designed to meet the needs of a growing market niche: Many economics departments are paring down the two-semester introductory sequence to a one-semester introductory course to make room for a richer array of upper-division electives. Thus, the one-semester intro course has become, for many, the basic theoretical frame students bring to the two-semester intermediate micro/macro sequence.

In just under 350 pages, Economics: Ideas and Issues for a Sustainable World lays a strong theoretical foundation with plenty of engagingapplications that stimulate students' interest in moving on to thattwo-semester intermediate sequence. It is written to be a one-semester
full theoretical development for systematic analysis of critical issues, helping students see the connection between economic analysis and social and political analysis, and how economics plays a role in unfolding historical events.

Features

  1. Integrates micro- and macroeconomic analysis into one text suitable for a one-semester introductory course
  2. Written in a voice that speaks to students, informed by the history of economic thought and using examples from economic history
  3. Designed for developmental learning, moving by steps from a simple to a complex, mature framework of analysis
  4. Sets economics analysis into larger social and political contexts, addressing issues like the role of social stereotyping, political power struggles, and ethics in market systems.
  5. Second edition includes new material throughout the text discussing issues involving globalization and sustainability

Chapter 1, Section 1.2.4 (pp.4-5)
Chapter 9, Section 9.3.14 (pp.147-48)
Chapter 12, Section 12.3.2 (pp.182-83)
Chapter 18, Section 18.2.6 (pp.264-67)

6. Final chapter on justice and liberal society includes discussions of the philosophical contributions of Adam Smith and John Stuart Mill

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Product Details

  • ISBN-13: 9780536513533
  • Publisher: Pearson Learning Solutions
  • Publication date: 1/14/2008
  • Edition number: 2
  • Pages: 343
  • Product dimensions: 8.23 (w) x 11.12 (h) x 0.49 (d)

Meet the Author

Jerry Evensky is a professor of economics at Syracuse University, where he is also the Laura J. and L. Douglas Meredith Professor for Teaching Excellence. He holds a BA in economics from Washington University, an MEd in secondary education from the University of Missouri at St. Louis, and a PhD in economics from Syracuse University. He has also authored Adam Smith’s Moral Philosophy published by Cambridge University Press. He spent six years as a social studies teacher in the Webster Groves School District in Missouri. The first edition of this book was published in 2004 as Economics: The Ideas and the Issues.

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Table of Contents

TABLE OF CONTENTS

1.0 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1

2.0 MODELING INDIVIDUAL CHOICE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11

3.0 INTERDEPENDENT CHOICE ANDMARKET COORDINATION . . . . . . . . . . . . . . . . . . . . . . . .45

4.0 PRODUCTMARKET DEMAND UNDER PERFECT COMPETITION . . . . . . . . . . . . . . . . . . . . .75

5.0 PRODUCTMARKET SUPPLY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .95

6.0 REPRESENTING THE POWER OF THE INVISIBLE HAND . . . . . . . . . . . . . . . . . . . . . . . . . . .105

7.0 THE FACTORMARKET . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .113

8.0 GENERAL COMPETITIVE EQUILIBRIUM (GCE) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .123

9.0 MARKET POWER, MARKET FAILURE, AND GENERAL EQUILIBRIUM . . . . . . . . . . . . . . . . .127

10.0 THEMICROECONOMY AND THE GOVERNMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .149

11.0 INTRODUCTION TOMACROECONOMICS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .157

12.0 THE BASICMACROMODEL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .173

13.0 AGGREGATE DEMAND . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .191

14.0 AGGREGATE SUPPLY AND THE TRANSITION TO POLICY . . . . . . . . . . . . . . . . . . . . . . . . . .217

15.0 POLICY: THE PROMISE AND THE PROBLEMS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .221

16.0 MONETARY POLICY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .231

17.0 FISCAL POLICY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .247

18.0 TRADE POLICY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .257

19.0 CONCLUSION ON POLICY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .269

20.0 ON JUSTICE AND THE SUSTAINABILITY OF LIBERAL SOCIETY . . . . . . . . . . . . . . . . . . . . . .279

GLOSSARY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .289

APPENDIX: A LIST OF OBJECTIVES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .307

INDEX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .337

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