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Microeconomics: Principles and Policy (with InfoTrac) / Edition 10

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Overview

This microeconomics text is well known for using the Keynesian model in the teaching of economics; yet in recent editions, the authors have expanded coverage of the growth model considerably to achieve more balanced coverage. The text uses the aggregate supply/ aggregate demand model as a fundamental tool for learning macroeconomics. It achieves the right level of rigor and detail, presenting complicated concepts in a relatively straightforward manner and using timely economic data. Using puzzles, issues, and well-developed examples, the authors provide a good balance of theory to application. Homework Xpress and Aplia are available with the Anniversary Tenth Edition and two new sets of end of chapter questions have been added as well to help students prepare for exams: "Test Yourself" and "Discussion Questions".

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Product Details

  • ISBN-13: 9780324221152
  • Publisher: Cengage Learning
  • Publication date: 6/21/2005
  • Edition description: Older Edition
  • Edition number: 10
  • Pages: 528
  • Product dimensions: 8.40 (w) x 10.80 (h) x 0.80 (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. The Economics of the Stock Market 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 Price System and the Case for Free Markets 15. The Market Mechanism: Shortcomings and Remedies 16. Innovation and Growth: The Free Markets Greatest Triumph 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: The Human Input 21. Poverty, Inequality, and Discrimination

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