Because issues of policy and real applications are critical to the principles of economics course, acclaimed economists Hall and Lieberman have made the fourth edition of MICROECONOMICS: PRINCIPLES AND APPLICATIONS as current as today's headlines, giving students a real-world, up-to-the-minute overview that presents economics as a unified discipline. Taking a no-nonsense, policy approach to economic theory and application, this comprehensive text is very accessible, equipping readers with a solid foundation in economics that they can build upon wherever their career paths may lead. A wealth of interactive online exercises, graphing applications, and research opportunities give students hands-on experience working with current economic issues. Hall and Lieberman's careful focus on core theoretical ideas and systematic application of theoretical tools to timely, practical questions conveys the message that economics is an integrated, powerful body of knowledge that can effectively address domestic and global issues.
Product dimensions: 8.40 (w) x 10.80 (h) x 0.60 (d)
Meet the Author
Robert E. Hall is a prominent applied economist. He is the Robert and Carole McNeil 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. He received his Ph.D. from MIT and has taught there as well as at the University of California, Berkeley. Hall is 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 semiofficial chronology of the U.S. business cycle. He has published numerous monographs and articles in scholarly journals, and coauthored a popular intermediate text. Hall has advised the Treasury Department and the Federal Reserve Board on national economic policy, and has testified on numerous occasions before congressional committees.
PART I: PRELIMINARIES. 1. What Is Economics? 2. Scarcity, Choice and Economic Systems. 3. Supply and Demand. 4. Working with Supply and Demand. PART II: MICROECONOMIC DECISION-MAKERS. 5. Consumer Choice. 6. Production and Cost. 7. How Firms Make Decisions: Profit Maximization. PART III: PRODUCT MARKETS. 8. Perfect Competition. 9. Monopoly. 10. Monopolistic Competition and Oligopoly. PART IV. LABOR, CAPITAL AND FINANCIAL MARKETS. 11. The Labor Market. 12. Income Inequality. 13. Capital and Financial Markets. PART V: 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 Trade. USING ALL THE THEORY. The Microeconomics of Online Retailing.