Economics / Edition 4

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Overview

For the Third Edition, 2001 Nobel laureate Joseph Stiglitz joins forces with new co-author Carl Walsh, who brings both macroeconomic expertise and teaching savvy to the project. Together, Stiglitz and Walsh thoroughly integrate contemporary economics into the traditional curriculum. Since the publication of Economics, Second Edition, in 1997, the explosive development of information technologies has altered the economic landscape in important ways. In Economics, Third Edition, Stiglitz and Walsh embrace the information revolution as an opportunity to revitalize the presentation of economics by linking fundamental concepts and basic models to examples in the "new economy." Supplemented by powerful emedia offerings, outstanding ancillary resources, and comprehensive pedagogy, Economics, Third Edition, promises to be the most complete, authoritative principles package on the market.

Author Biography: Joseph E. Stiglitz is professor of economics, business, and international and public affairs at Columbia University. Known throughout the world for his groundbreaking research, Joseph Stiglitz received the Nobel Prize in Economic Sciences in 2001. Carl E. Walsh is professor of economics at the University of California at Santa Cruz. He is widely known for his research in monetary economics and is the author of a leading graduate text, Monetary Theory and Policy (MIT Press).

The science of economics has made great strides in the past 25 years. We now understand such problems as the role of information in the efficiency of economic outcomes, the importance of strategy in the outcome of economic relationships, the significance of finance in our understanding of the firm, and, most importantly, the ways in which microeconomic phenomena relate to those of macroeconomics. With this fresh and original textbook, an economics professor at Stanford University brings new economics to an introductory course. Color photographs and diagrams.

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Editorial Reviews

Booknews
This text provides a treatment of the basic competitive model, presenting macroeconomics in a manner that builds on the way economic researchers and economists in policymaking positions frame their analysis. The text can be used for a one-semester course covering principles of micro- and macroeconomics, or for a one-quarter course devoted solely to micro- or macroeconomics. This third edition integrates recent developments associated with innovation and the digital economy. There are new optional chapters on areas such as the labor and capital markets and investing. Stiglitz teaches economics, business, and international and public affairs at Columbia University. Walsh teaches economics at the University of California-Santa Cruz. Annotation c. Book News, Inc., Portland, OR (booknews.com)
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Product Details

  • ISBN-13: 9780393168174
  • Publisher: Norton, W. W. & Company, Inc.
  • Publication date: 4/28/2006
  • Edition description: Fourth Edition
  • Edition number: 4
  • Pages: 830
  • Sales rank: 577,758
  • Product dimensions: 8.80 (w) x 10.30 (h) x 1.40 (d)

Meet the Author

Winner of the 2001 Nobel Memorial Prize for Economics, Joseph E. Stiglitz is the best-selling author of Making Globalization Work; Globalization and Its Discontents; and, with Linda Bilmes, The Three Trillion Dollar War. He was chairman of President Clinton's Council of Economic Advisers and served as senior vice president and chief economist at the World Bank. He teaches at Columbia University and lives in New York City.

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Table of Contents

Pt. 1 Introduction
1 The Automobile and Economics 1
2 Thinking Like an Economist 27
3 Trade 52
4 Demand, Supply, and Price 71
5 Using Demand and Supply 96
6 Time and Risk 122
7 The Public Sector 143
Pt. 2 Perfect Markets
8 The Consumption Decision 171
9 Labor Supply and Savings 199
10 A Student's Guide to Investing 226
11 The Firm's Costs 250
12 Production 281
13 Competitive Equilibrium 309
Pt. 3 Imperfect Markets
14 Monopolies and Imperfect Competition 335
15 Oligopolies 363
16 Government Policies Toward Competition 388
17 Technological Change 411
18 Imperfect Information in the Product Market 430
19 Imperfections in the Labor Market 454
20 Financing, Controlling, and Managing the Firm 475
Pt. 4 Policy Issues
21 Externalities and the Environment 505
22 Taxes, Transfers, and Redistribution 522
23 Public Decision Making 543
Pt. 5 Full-Employment Macroeconomics
24 Macroeconomic Goals and Measures 563
25 The Full-Employment Model 590
26 Using the Full-Employment Model 617
Pt. 6 Unemployment Macroeconomics
27 Overview of Unemployment Macroeconomics 639
28 Aggregate Demand 662
29 Consumption and Investment 690
30 Money, Banking, and Credit 717
31 Monetary Theory 746
32 Fiscal and Monetary Policy 772
Pt. 7 Dynamics and Macro Policy
33 Inflation: Wage and Price Dynamics 791
34 Unemployment: Understanding Wage Rigidities 821
35 Inflation vs. Unemployment: Approaches to Policy 843
Pt. 8 Issues in Macroeconomic Policy
36 Growth and Productivity 873
37 Deficits and Deficit Reduction 903
38 Trade Policy 924
39 Alternative Economic Systems 947
40 Development 971
Glossary A-1
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