Economics: Principles and Applications / Edition 6

by Robert E. Hall, Marc Lieberman

Overview

Discover how real-world policy issues, decisions, and applications impact you every day with the practical insights and accessible explanations in Hall/Lieberman's ECONOMICS. Filled with economic data and trends as current as the most recent headlines, this book uses cutting-edge examples to illustrate core economic theory and application in action. Comprehensive, yet easy-to-understand, this book equips readers with the solid economic foundation needed for success in any career. Streamlined chapters focus on today's most important economic theories and events as well as the latest in economic thinking, all while demonstrating how economics is an integrated, powerful body of knowledge able to address complex domestic and global issues.

Product Details

ISBN-13:	9781111822347
Publisher:	Cengage Learning
Publication date:	02/16/2012
Edition description:	New Edition
Pages:	972
Product dimensions:	8.80(w) x 10.10(h) x 1.70(d)

About the Author

Dr. Robert E. Hall is a prominent applied economist. He is the Robert and Carole McNeil Joint Professor of Economics at Stanford University and Senior Fellow at Stanford's Hoover Institution, where he conducts research on inflation, unemployment, taxation, monetary policy, and the economics of high technology. Dr. Hall received his Ph.D. from MIT and has taught there as well as at the University of California, Berkeley. He was the president of the American Economic Association for the year 2010. He is also director of the research program on Economic Fluctuations of the National Bureau of Economic Research, and chairman of the Bureau's Committee on Business Cycle Dating, which maintains the chronology of the U.S. business cycle. He has published numerous monographs and articles in scholarly journals, and co-authored a popular intermediate text. Dr. Hall has advised the Treasury Department and the Federal Reserve Board on national economic policy and has testified on numerous occasions before congressional committees.

Dr. Marc Lieberman is Clinical Professor of Economics at New York University. He received his Ph.D. from Princeton University. Dr. Lieberman has taught graduate and undergraduate courses in microeconomics, macroeconomics, econometrics, labor economics, and international economics. He has presented his extremely popular Principles of Economics course at Harvard, Vassar, the University of California at Santa Cruz, the University of Hawaii, and New York University. Dr. Lieberman has won NYU's Golden Dozen teaching award three times and has also received the Economics Society Award for Excellence in Teaching. He is co-editor and contributor to THE ROAD TO CAPITALISM: ECONOMIC TRANSFORMATION IN EASTERN EUROPE AND THE FORMER SOVIET UNION. Dr. Lieberman has consulted for the Bank of America and the Educational Testing Service. In his spare time, he is a professional screenwriter and teaches screenwriting at NYU's School of Continuing and Professional Studies.

Table of Contents

Part I: PRELIMINARIES. 1. What Is Economics? 2. Scarcity, Choice, and Economic Systems. Part II: MARKETS AND PRICES. 3. Supply and Demand. 4. Working with Supply and Demand. 5. Elasticity. Part III: MICROECONOMIC DECISION MAKERS. 6. Consumer Choice. 7. Production and Cost. 8. How Firms Make Decisions: Profit Maximization. Part IV: PRODUCT MARKETS. 9. Perfect Competition. 10. Monopoly. 11. Monopolistic Competition and Oligopoly. Part V: LABOR, CAPITAL, AND FINANCIAL MARKETS. 12. Labor Markets. 13. Capital and Financial Markets. Part VI: EFFICIENCY, GOVERNMENT, AND THE GLOBAL ECONOMY. 14. Economic Efficiency and the Competitive Ideal. 15. Government's Role in Economic Efficiency. 16. Comparative Advantage and the Gains from International Trade. Part VII: MACROECONOMICS: BASIC CONCEPTS. 17. What Macroeconomics Tries to Explain. 18. Production, Income, and Employment. 19. The Price Level and Inflation. Part VIII: LONG-RUN MACROECONOMICS. 20. The Classical Long-Run Model. 21. Economic Growth and Rising Living Standards. Part IX: SHORT-RUN MACROECONOMICS. 22. Economic Fluctuations. 23. The Short-Run Macro Model. Part X: MACROECONOMIC POLICY. 24. Fiscal Policy. 25. Banking and Financial Institutions. 26. Monetary Policy. 27. Aggregate Demand and Aggregate Supply. 28. Inflation and Monetary Policy. 29. Exchange Rates and Macroeconomic Policy.