Economics: Principles and Policy / Edition 12by William J. Baumol
Pub. Date: 06/13/2011
Publisher: Cengage Learning
Master the principles of economics, and gain an understanding of current economic situations with the solid introduction and policy-based examples and applications found in ECONOMICS: PRINCIPLES AND POLICY, 13E. Written by two of the most respected economists in the world, this edition provides significant updates that reflect the latest economic situations and
Master the principles of economics, and gain an understanding of current economic situations with the solid introduction and policy-based examples and applications found in ECONOMICS: PRINCIPLES AND POLICY, 13E. Written by two of the most respected economists in the world, this edition provides significant updates that reflect the latest economic situations and timely economic data. The authors combine the right level of rigor and detail to clarify even the most complicated concepts. A new chapter highlights U.S. economic leadership and assesses prospects for future U.S. growth based on strengths and weaknesses in key areas, such as productivity, innovation, entrepreneurship, health care, education, inequality, trade, the budget deficit, and climate change. Well-developed examples, intriguing puzzles and meaningful economic issues provide a good balance of theory to application.
- Cengage Learning
- Publication date:
- Edition description:
- Older Edition
- Product dimensions:
- 8.80(w) x 11.00(h) x 1.50(d)
Table of ContentsPART I. GETTING ACQUAINTED WITH ECONOMICS. 1. What Is Economics? 2. The Use and Misuse of Graphs. 3. The Economy: Myth and Reality. 4. Scarcity and Choice: The Economic Problem. 5. Supply and Demand: An Initial Look. PART II. THE BUILDING BLOCKS OF DEMAND AND SUPPLY. 6. Consumer Choice: Individual and Market Demand. 7. Demand and Elasticity. 8. Production, Inputs, and Cost: Building Blocks for Supply Analysis. 9. Output, Price, and Profit: The Importance of Marginal Analysis. PART III. MARKETS, FROM COMPETITION TO MONOPOLY: VIRTUES AND VICES. 10. The Firm and The Industry under Perfect Competition. 11. The Price System and the Case for Free Markets. 12. Monopoly. 13. Between Competition and Monopoly. 14. The Market Mechanism: Shortcomings and Remedies. 15. Microeconomics of Innovation: Prime Engine of Growth. 16. Real Firms and Their Financing: Stocks and Bonds. PART IV. THE DISTRIBUTION OF INCOME. 17. Pricing the Factors of Production. 18. Labor: The Human Input. 19. Poverty, Inequality, and Discrimination. PART V. THE GOVERNMENT AND THE ECONOMY. 20. Limiting Market Power: Regulation and Antitrust. 21. Taxation and Resource Allocation. 22. Externalities, the Environment, and Natural Resources. PART VI. THE MACROECONOMY: AGGREGATE SUPPLY AND DEMAND -. 23. The Realm of Macroeconomics. 24. The Goals of Macroeconomic Policy. 25. Income and Spending: The Powerful Consumer. 26. Demand-Side Equilibrium: Unemployment or Inflation? 27. Changes on the Demand Side: Multiplier Analysis. 28. Supply-Side Equilibrium: Unemployment and Inflation? PART VII. FISCAL AND MONETARY POLICY. 29. Managing Aggregate Demand: Fiscal Policy. 30.Money and the Banking System. 31. Monetary Policy and the National Economy. 32. The Debate Over Monetary Policy. 33. Deficits, Monetary Policy, and Growth. 34. The Phillips Curve and Economic Growth. PART VIII. THE UNITED STATES IN THE WORLD ECONOMY. 35. International Trade and Comparative Advantage. 36. The International Monetary System: Order or Disorder? 37. Exchange Rates and the Macroeconomy.
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