Economics / Edition 8

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Overview

Economics is global and the Eighth Edition of ECONOMICS maintains the hallmarks of the Boyes/Melvin series—accessible writing, strong pedagogy, and integration of global economic issues—while faithfully presenting the latest thinking of economists on important microeconomic and macroeconomic phenomena. The authors have carefully integrated their popular pedagogy, cutting-edge teaching and learning technology, and a full range of supplements to create a complete program that clearly illustrates the connections between key economic principles and real-world business practices. The text has also been thoroughly updated with recent data and extensive coverage of important current issues, such as the economic effects of the war in Iraq, the 2008 financial crisis, and China's emergence as an economic power. In addition, ECONOMICS, Eighth Edition, provides an in-depth exploration of one of today's most significant issues—globalization—and its impact on economic growth and poverty, including a comparison of international standards of living and Global Business Insight features that illustrate economic concepts with examples from around the world.

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Product Details

  • ISBN-13: 9781439038697
  • Publisher: Cengage Learning
  • Publication date: 1/1/2010
  • Series: Available Titles CourseMate Series
  • Edition description: Eighth Edition
  • Edition number: 8
  • Pages: 834
  • Product dimensions: 8.10 (w) x 10.20 (h) x 1.30 (d)

Meet the Author

Dr. William Boyes is professor of economics at Arizona State University. He received his Ph.D. in economics from the Claremont Graduate School. An active educator as well as respected author, Dr. Boyes has served as the Distinguished Visiting Professor of Business at Weber State University; visiting professor at Tsinghua University, Beijing, China. He has also served as visiting professor at the University of London, London, England, and has lectured at ITAM in Mexico City. In addition, he was the dean of the College of Business at Cal Poly, San Luis Obispo. Dr. Boyes has also served as chairman of the Economics Department at ASU and director of Arizona council on economic education at ASU. Dr. Boyes has been an economist with Security Pacific National Bank (now Bank of America). He has also been a consultant to the White House, the Commerce Department, the Federal Trade Commission, and several private firms. He is a member of the Pacific Research Institute's Academic Advisory Board. Dr. Boyes has received many teaching awards, including the Golden Key National Honor Society Outstanding Professor Award at ASU in 1988, the Outstanding Teacher in the MBA Program Award at ASU in 1994, the Outstanding Teacher in the College of Business Award at ASU in 1995, Huizingh Outstanding Honors Professor in 2007, and Outstanding MBA Professor in 2008.

Dr. Michael Melvin is currently Head of Currency Research at Barclays Global Investors. He also retains affiliations at the Arizona State University Department of Economics and the Haas School of Business at the University of California, Berkeley. Dr. Melvin received his Ph.D. in economics from UCLA. He has served as a visiting scholar at the Federal Reserve Board and the International Monetary Fund, and was a Fulbright Professor at the University of Frankfurt. In addition, Dr. Melvin has been a visiting professor at UCLA, Northwestern University, U.C. San Diego, and the University of Hawaii. His field of specialization is International Finance, and he is the co-editor of the Journal of International Money and Finance.

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Table of Contents

Part I: INTRODUCTION TO THE PRICE SYSTEM. 1. Economics: The World Around You. 1A. Appendix: Working with Graphs. 2. Choice, Opportunity Costs, and Specialization. 3. Markets, Demand and Supply, and the Price System. 4. The Market System and the Private and Public Sectors. Part II: MACROECONOMIC BASICS. 5. National Income Accounting. 6. An Introduction to the Foreign Exchange Market and the Balance of Payments. 7. Unemployment and Inflation. 8. Macroeconomic Equilibrium: Aggregate Demand and Supply. 9. Aggregate Expenditures. 9A. Appendix: An Algebraic Model of Aggregate Expenditures. 10. Income and Expenditures Equilibrium. 10A. Appendix: An algebraic Model of Income and Expenditures Equilibrium. Part III: MACROECONOMIC POLICY. 11. Fiscal Policy. 11A. Appendix: An Algebraic Examination of the Balanced-Budget Change in Fiscal Policy. 12. Money and Banking. 13. Monetary Policy. 14. Macroeconomic Policy: Tradeoffs, Expectations, Credibility, and Sources of Business Cycles. 15. Macroeconomic Viewpoints: New Keynesian, Monetarist, and New Classical. 16. Economic Growth. 17. Development Economies. 18. Globalization. Part IV: PRODUCT MARKET BASICS. 19. Elasticity: Demand and Supply. 19A. Appendix: Calculating Elasticity. 20. Consumer Choice. 20A. Appendix: Indifference Analysis. 21. Supply: The Costs of Doing Business. 21A. Appendix: The Mechanics of Going from Production to Costs. Part V: PRODUCT MARKETS. 22. Profit Maximization. 23. Perfect Competition. 24. Monopoly. 25. Monopolistic Competition and Oligopoly. 26. Antitrust and Regulation. 27. Government and Market Failure. Part VI: RESOURCE MARKETS. 28. Resource Markets. 29. The Labor Market. 30. Capital Markets. 31. The Land Market and Natural Resources. Part VII: CURRENT ISSUES INVOLVING THE PUBLIC SECTOR AND THE MARKET ECONOMY. 32. Aging, Social Security, and Health Care. 33. Income Distribution, Poverty, and Government Policy. Part VIII: ISSUES IN INTERNATIONAL TRADE AND FINANCE. 34. World Trade Equilibrium. 35. International Trade Restrictions. 36. Exchange Rates and Financial Links Between Countries.

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