Economics: Theory and Practice / Edition 8

Economics: Theory and Practice / Edition 8

by Patrick J. Welch, Gerry F. Welch
     
 

A wealth of updates and new applications make this definitive basic economics text more relevant than ever.

Economics: Theory & Practice has been introducing students to vital economic concepts, institutions, relationships, and terminology through eight successful editions. Updated with the most current qualitative data, the Ninth Edition features new content

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Overview

A wealth of updates and new applications make this definitive basic economics text more relevant than ever.

Economics: Theory & Practice has been introducing students to vital economic concepts, institutions, relationships, and terminology through eight successful editions. Updated with the most current qualitative data, the Ninth Edition features new content and applications designed to connect economics concepts to real-world conditions and better prepare students in their classes, everyday lives, and today's evolving business environment.

In this latest edition, the authors have added valuable insights into green economics and how effective business practices must incorporate environmental awareness.

Other features of the 9th Edition include:

  • Full integration of twenty-plus new Applications
  • Thoroughly updated chapters with the most current qualitative data
  • New Critical Thinking Cases at the end of each chapter to show how concepts are applied
  • New Up for Debate sections that examine the diverse sides of current economic issues'
  • Test Your Understanding boxes which reinforce key concepts and material
  • Flexibility in approach, instructor-friendly in structure, and student-friendly in language

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Product Details

ISBN-13:
9780471679462
Publisher:
Wiley
Publication date:
08/07/2006
Edition description:
REV
Pages:
560
Product dimensions:
8.03(w) x 9.94(h) x 0.71(d)

Table of Contents

I. Introduction to Economics.

1. Introduction to Economics Appendix: Graphing.

2. Economic Decision Making and Economic Systems.

3. Demand, Supply, and the Determination of Price.

II. The Macroeconomy.

4. Goals and Problems of the Macroeconomy: Employment, Prices, and Production.

5. Foundations of the Macroeconomy.

6. The Role of Government in the Macroeconomy.

7. Money, Financial Institutions, and the Federal Reserve.

8. Money Creation, Monetary Theory, and Monetary Policy.

9. Macroeconomic View-Points and Models.

III. The Microeconomy.

10. Households and Businesses: An Overview.

11. Benefits, costs, and Maximization.

12. Production and the costs of Production.

Appendix: A Further Look at Short-Run Average and Marginal Costs.

13. Competition and Market Structures.

Appendix: Determining the Profit-Maximizing Price and Output for a Firm.

14. Government and the Markets.

15. Labor Markets, Unions, and the Distribution of Income.

IV. The International Economy.

16. International Trade.

17. International Finance.

Glossary.

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