Modern Principles of Economics

by Tyler Cowen, Alex Tabarrok

Overview

In a world full of economics blogs, Cowen and Tabarrok’s Marginal Revolution (marginalrevolution.com) ranks is one of the Web’s most popular and most respected. The same qualities that make the blog so distinctive are also behind the success Modern Principles of Economics—engaging authors, unbiased presentations of essential ideas, and a knack for revealing the “invisible hand” of economics at work.  The thoroughly updated new edition of Modern Principles again draws on a wealth of captivating applications to show readers how economics shed light on business, politics, world affairs, and everyday life.

Product Details

ISBN-13:	9781319098728
Publisher:	Worth Publishers
Publication date:	12/28/2017
Edition description:	Fourth Edition
Pages:	976
Product dimensions:	8.94(w) x 11.17(h) x 1.40(d)

Table of Contents

Preface
1. The Big Ideas in Economics
2. The Power of Trade and Comparative Advantage

Part 1: Supply and Demand
3. Supply and Demand
4. Equilibrium: How Supply and Demand Determine Prices
5. Elasticity and Its Applications
6. Taxes and Subsidies

Part 2: The Price System
7. The Price System: Signals, Speculation, and Prediction
8. Price Ceilings and Floors
9. International Trade
10. Externalities: When the Price Is Not Right

Part 3: Firms and Factor Markets
11. Costs and Profit Maximization under Competition
12. Competition and the Invisible Hand
13. Monopoly
14. Price Discrimination and Pricing Strategy
15. Oligopoly and Game Theory
16. Networks, Platforms, and the Economics of “Free Goods”
17. Monopolistic Competition and Advertising
18. Labor Markets

Part 4: Government
19. Public Goods and the Tragedy of the Commons
20. Political Economy and Public Choice
21. Economics, Ethics, and Public Policy

Part 5: Decision Making for Businesses, Investors, and Consumers
22. Managing Incentives
23. Stock Markets and Personal Finance
24. Asymmetric Information: Moral Hazard and Adverse Selection
25 Consumer Choice

Part 6: Economic Growth
26. GDP and the Measurement of Progress
27. The Wealth of Nations and Economic Growth
28. Growth, Capital Accumulation, and the Economics of Ideas: Catching Up vs. the Cutting Edge
29. Saving, Investment, and the Financial System

Part 7: Business Fluctuations
30. Unemployment and Labor Force Participation
31. Inflation and the Quantity Theory of Money
32. Business Fluctuations: Aggregate Demand and Supply
33. Transmission and Amplification Mechanisms

Part 8: Macroeconomic Policy and Institutions
34. The Federal Reserve System and Open Market Operations
35. Monetary Policy
36. The Federal Budget: Taxes and Spending
37. Fiscal Policy

Part 9: International Economics
38. International Finance

APPENDIX A Reading Graphs and Making Graphs
APPENDIX B Solutions to Check Yourself
Glossary G-1
References R-1
Index I-1