Microeconomics / Edition 4

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Overview

Learn economics through real business examples.

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.

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Product Details

  • ISBN-13: 9780132911986
  • Publisher: Prentice Hall
  • Publication date: 1/25/2012
  • Edition number: 4
  • Pages: 720
  • Sales rank: 652,645
  • Product dimensions: 8.50 (w) x 10.80 (h) x 0.90 (d)

Meet the Author

Glenn Hubbard policymaker, professor, and researcher.

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, Dex Media, Duke Realty, KKR Financial Corporation, and Ripplewood Holdings. He received his Ph.D. in economics from Harvard University in 1983. From 2001–2003, he served as Chairman of the White House Council of Economic Advisers, and from 1991–1993, he was Deputy Assistant Secretary of the U.S. Treasury Department. Glenn 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 90 articles in leading journals, including the American Economic Review, Journal of Finance, Journal of Financial Economics, 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 his 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. Anthony O’Brien’s research has dealt with such issues as the evolution of the U.S. automobile industry, the 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 the American Economic Review, the Quarterly Journal of Economics, the Journal of Money, Credit, and Banking, Industrial Relations, and the Journal of Economic History. His research has been supported by grants from government agencies and private foundations. In addition to teaching and writing, Anthony O’Brien also serves on the editorial board of the Journal of Socio-economics.

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Table of Contents

Part 1: Introduction
Chapter 1: Economics: Foundations and Models Chapter 2: Trade-offs, Comparative Advantage, and the Market System Chapter 3: Where Prices Come From: The Interaction of Demand and Supply Chapter 4: Economic Efficiency, Government Price Setting, and Taxes
Part 2: Markets in Action
Chapter 5: Externalities, Environmental Policy, and Public Goods Chapter 6: Elasticity: The Responsiveness of Demand and Supply Chapter 7: The Economics of Health Care
Part 3: Firms in the Domestic and International Economies

Chapter 8: Firms, the Stock Market, and Corporate Governance Chapter 9: Comparative Advantage and the Gains from International Trade
Part 4: Microeconomic Foundations: Consumers and Firms
Chapter 10: Consumer Choice and Behavioral Economics Chapter 11: Technology, Production, and Costs
Part 5: Market Structure and Firm Strategy

Chapter 12: Firms in Perfectly Competitive Markets Chapter 13: Monopolistic Competition: The Competitive Model in a More Realistic Setting Chapter 14: Oligopoly: Firms in Less Competitive Markets Chapter 15: Monopoly and Antitrust Policy Chapter 16: Pricing Strategy
Part 6: Labor Markets, Public Choice, and the Distribution of Income
Chapter 17: The Markets for Labor and Other Factors of Production Chapter 18: Public Choice, Taxes, and the Distribution of Income
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