Microeconomics: Principles and Policy / Edition 12

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Overview

MICROECONOMICS: PRINCIPLES AND POLICY, Twelfth Edition, teaches the principles of economics, including current economic situations, providing an essential resource for faculty and students who want a solid introduction that calls on policy-based information for examples and applications.

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Editorial Reviews

From the Publisher
"The text is very strong as is. It addresses topics at just the right level of depth/complexity for my students."

"I continue to enjoy using the Baumol and Blinder text. My students find it clear, relevant and accessible."

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Product Details

  • ISBN-13: 9780538453622
  • Publisher: Cengage Learning
  • Publication date: 6/15/2011
  • Edition description: New Edition
  • Edition number: 12
  • Pages: 544
  • Sales rank: 100,435
  • Product dimensions: 8.40 (w) x 10.80 (h) x 1.10 (d)

Meet the Author

William J. Baumol received his BSS at the College of the City of New York and his Ph.D. at the University of London. He is professor of economics at New York University, and senior research economist and professor emeritus at Princeton University. He is a frequent consultant to the management of major firms in a wide variety of industries in the United States and other countries, as well as to a number of governmental agencies. He has been president of the American Economic Association, and three other professional societies. He is an elected member of the National Academy of Sciences, created by the U.S. Congress, and of the American Philosophical Society, founded by Benjamin Franklin. Baumol is the author of more than thirty-five books, and hundreds of journal and newspaper articles that have been translated into more than a dozen languages.

Alan S. Blinder earned his Master's degree at the London School of Economics and a Ph.D. at MIT. He teaches at Princeton University and is the co-director of Princeton's Center for Economic Policy Studies. Blinder was President Clinton's first Council of Economic Advisers, served as vice chairman of the Federal Reserve Board, and played a role in formulating both the fiscal and monetary policies of the 1990s. Blinder wrote newspaper and magazine columns on economic policy for more than ten years.

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Table of Contents

Part I GETTING ACQUAINTED WITH ECONOMICS. 1 What Is Economics? 2 The Economy: Myth and Reality. 3 The Fundamental Economic Problem: Scarcity and Choice. 4 Supply and Demand: An Initial Look. Part II THE BUILDING BLOCKS OF DEMAND AND SUPPLY. 5 Consumer Choice: Individual and Market Demand. 6 Demand and Elasticity. 7 Production, Inputs, and Cost: Building Blocks for Supply Analysis. 8 Output, Price, and Profit: The Importance of Marginal Analysis. 9 Securities, Business Finance, and the Economy: The Tail that Wags the Dog? Part III MARKETS AND THE PRICE SYSTEM. 10 The Firm and the Industry under Perfect Competition. 11 Monopoly. 12 Between Competition and Monopoly. 13 Limiting Market Power: Regulation and Antitrust. Part IV THE VIRTUES AND LIMITATIONS OF MARKETS. 14 The Case for Free Markets: The Price System. 15 The Shortcomings of Free Markets. 16 The Market's Prime Achievement: Innovation and Growth. 17 Externalities, the Environment, and Natural Resources. 18 Taxation and Resource Allocation. Part V THE DISTRIBUTION OF INCOME. 19 Pricing the Factors of Production. 20 Labor and Entrepreneurship: The Human Inputs. 21 Poverty, Inequality, and Discrimination. Part VI THE UNITED STATES IN THE WORLD ECONOMY. 22 International Trade and Comparative Advantage.

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