Economics: Principles and Tools / Edition 3

Economics: Principles and Tools / Edition 3

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Economics: Principles and Tools / Edition 3

This modern, Micro first book has a strong foundation in demand and supply. Its thoughtful coverage of change in demand vs. change in quantity demanded (also in supply coverage) enables readers to better visualize and truly understand the difference between these 2 fundamental concepts. Its hallmark feature includes a focus on the 5 Key Principles of Economics: 1) Opportunity Cost, 2) The Marginal Principle (comparing marginal benefits and marginal costs), 3) Diminishing Returns, 4) The Spillover Principle (for externalities in production and consumption), and, 5) The Reality Principle (distinguishing real from nominal magnitudes). For economists, financial analysts and other finance professionals.

Product Details

ISBN-13: 9780130081513
Publisher: Pearson
Publication date: 02/01/2002
Series: Prentice-Hall Series in Economics
Edition description: Older Edition
Pages: 768
Product dimensions: 8.32(w) x 10.28(h) x 1.37(d)

Table of Contents

Part 1Introduction and Key Principles1
1Introduction: What Is Economics?1
2Key Principles of Economics23
3Markets and Government in the Global Economy41
4Supply, Demand, and Market Equilibrium63
Part 2A Closer Look at Supply and Demand95
5Elasticity: A Measure of Responsiveness95
6Market Efficiency and Government Intervention119
7Consumer Choice145
Part 3Market Structures and Pricing163
8Production and Cost163
9Perfect Competition: Short Run and Long Run187
11Entry and Monopolistic Competition235
12Oligopoly and Strategic Behavior251
13Using Market Power: Price Discrimination and Advertising277
14Controlling Market Power: Antitrust Policy and Deregulation293
Part 4Spillovers and Information311
15Imperfect Information and Disappearing Markets311
16Public Goods, Taxes, and Public Choice329
17Environmental Policy349
Part 5The Labor Market and Economic Challenges371
18The Labor Market371
19Economic Challenges: Poverty, Aging, and Health Care399
Part 6The Basic Concepts in Macroeconomics417
20Measuring a Nation's Production and Income417
21Unemployment and Inflation437
Part 7The Economy in the Long Run453
22Classical Economics: The Economy at Full Employment453
23Why Do Economies Grow?475
Part 8Economic Fluctuations501
24Aggregate Demand and Aggregate Supply501
25Keynesian Economics and Fiscal Policy521
26Investment and Financial Intermediation553
Part 9Money, Banking, and Monetary Policy571
27Money, the Banking System, and the Federal Reserve571
28Monetary Policy in the Short Run591
Part 10Inflation, Unemployment, and Economic Policy611
29From the Short Run to the Long Run611
30The Dynamics of Inflation and Unemployment629
31Current Issues in Macroeconomic Policy651
Part 11The International Economy669
32International Trade and Public Policy669
33The World of International Finance691
Answers to Odd Numbered Problems and Discussion Questions1
Photo Credits1

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