Hubbard/O'Brien explains the basics of economics by demonstrating how real businesses use economics to make real decisions everyday. This is something all readers can connect to, as they encounter businesses in their daily lives. And regardless of future career path–opening an art studio, doing social work, trading on Wall Street, working for the government, or bartending at the local pub–readers will benefit from understanding the economic forces behind their work.
“The book places welcome emphasis on financial markets (both domestic and international).” - Mark Tandall, Stanford University
“Accessible, current, and relevant… students will enjoy the balance between model development and real-world applications. I really enjoyed the integration of the financial crisis, housing crash, oil shock and exchange rates. Wonderful!” - Carlos F. Liard-Muriente, Central Connecticut State University
“It is the best textbook to use in an Intermediate Macro course that emphasizes the ongoing financial crisis and its impact on the real economy. The discussion of the sovereign debt crisis in Europe in the second edition is valuable.” - Ted Burczak, Denison University
Glenn Hubbard, Professor, Researcher, and Policymaker
R. Glenn Hubbard is the dean and Russell L. Carson Professor of Finance and Economics in the Graduate School of Business at Columbia University and professor of economics in Columbia’s Faculty of Arts and Sciences. He is also a research associate of the National Bureau of Economic Research and a director of Automatic Data Processing, Black Rock Closed-End Funds, KKR Financial Corporation, and MetLife. He received
his Ph.D. in economics from Harvard University in 1983. From 2001 to 2003, he served as chairman of the White House Council of Economic Advisers and chairman of the OECD Economy Policy Committee, and from 1991 to 1993, he was deputy assistant secretary of the U.S. Treasury Department. He currently serves as co-chair of the nonpartisan Committee on Capital Markets Regulation and the Corporate Boards Study Group.
Hubbard’s fields of specialization are public economics, financial markets and institutions, corporate finance, macroeconomics, industrial organization, and public policy. He is the author of more than 100 articles in leading journals, including American Economic Review, Brookings Papers on Economic Activity, Journal of Finance, Journal of Financial Economics, Journal ofMoney, Credit, and Banking, Journal of Political Economy,
Journal of Public Economics, Quarterly Journal of Economics, RAND Journal of Economics, and Review of Economics and Statistics. His research has been supported by grants from the National Science Foundation, the National Bureau of Economic Research, and numerous private foundations.
Tony O’Brien, Award-Winning Professor and Researcher
Anthony Patrick O’Brien is a professor of economics at Lehigh University. He received a Ph.D. from the University of California, Berkeley, in 1987. He has taught principles of economics for more than 15 years, in both large sections and small honors classes. He received the Lehigh University Award for Distinguished Teaching. He was formerly the director of the Diamond Center for Economic Education and was named a Dana Foundation Faculty Fellow and Lehigh Class of 1961 Professor of Economics. He has been a visiting professor at the University of California, Santa Barbara, and the Graduate School of Industrial Administration at Carnegie Mellon University. O’Brien’s research has dealt with such issues as the evolution of the U.S. automobile industry, sources of U.S. economic competitiveness, the development of U.S. trade policy, the causes of the Great Depression, and the causes of black-white income differences. His research has been published in leading journals, including American Economic Review, Quarterly Journal of Economics, Journal ofMoney, Credit, and Banking, Industrial Relations, Journal of Economic History, Explorations in Economic History, and the Journal of Policy History. His research has been supported by grants from government agencies and private foundations. In addition to teaching and writing, O’Brien also serves on the editorial board of the Journal of Socio-Economics.
Matt Rafferty, Professor and Researcher
Matt Rafferty is a professor of economics at Quinnipiac University. He received a Ph.D. from University of California, Davis in 1992. He has taught Macroeconomics; Economic Growth; Money and Banking; Econometrics, and Corporate Finance. Rafferty's research interests include Macroeconomics, Corporate Governance, Executive Compensation, and R&D Activity. His research has been published in leading journals, including Journal of Corporate Finance, Research Policy, Journal of Economics and Finance, Pennsylvania Economic Review , Economics of Innovation and New Technology , Southern Economic Journal, Applied Economics, International Advances in Economic Research, and Eastern Economic Journal.