For one-semester Principles of Economics courses at two- and four-year colleges and universities
Reveal the relevance of economics through real-world business examples
One of the challenges of teaching Principles of Economics is fostering interest in concepts that may not seem applicable to students’ lives. Essentials of Economics, Fourth Edition makes economics relevant by demonstrating how real businesses use economics to make decisions every day. Regardless of their future career path—opening an art studio, trading on Wall Street, or bartending at the local pub—students will benefit from understanding the economic forces behind their work.
This program provides a better teaching and learning experience—for you and your students. It will help you to:
• Personalize learning with MyEconLab: This online homework, tutorial, and assessment program fosters learning and provides tools that help instructors to keep students on track.
• Show students how economics is relevant: Relatable features ground course material in the real world, showing students how these ideas are relevant and facilitating understanding.
• Foster thorough understanding via a flexible, student-focused approach: An engaging, captivating writing style and student-friendly learning aids motivate and engage students.
Please note that the product you are purchasing does not include MyEconLab.
MyEconLab
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Table of Contents:
I. Introduction
1. Economics: Foundations and Models
2. Trade-offs, Comparative Advantage, and the Market System
3. Where Prices Come From: The Interaction of Demand and Supply
II. Markets in Action: Policy and Applications
4. Market Efficiency and Market Failure
5. The Economics of Healthcare
III. Microeconomic Foundations: Consumers and Firms
6. Firms, the Stock Market, and Corporate Governance
7. Consumer Choice and Elasticity
8. Technology, Production, and Costs
IV. Market Structure and Firm Strategy
9. Firms in Perfectly Competitive Markets
10. Monopoly and Antitrust
11. Monopolistic Competition and Oligopoly
V. Macroeconomic Foundations
12. GDP: Measuring Total Production and Income
13. Unemployment and Inflation
VI. Long-Run and Short-Run Fluctuations
14. Economic Growth, the Financial System and Business Cycles
15. Aggregate Demand and Aggregate Supply Analysis
VII. Monetary and Fiscal Policy
16. Money, Banks, and the Federal Reserve System
17. Monetary Policy
18. Fiscal Policy
19. Comparative Advantage, International Trade, and Exchange Rates
About the Author :
Glenn Hubbard is Dean Emeritus and Russell L. Carson Professor of Finance and Economics in the Graduate School of Business at Columbia University and Professor of Economics in Columbia's Faculty of Arts and Sciences. He is also a research associate of the National Bureau of Economic Research and a director of Automatic Data Processing, Black Rock Fixed-Income Funds, KKR Financial Corporation and MetLife. From 2001 to 2003 he served as chair of the White House Council of Economic Advisers and chair of the OECD Economy Policy Committee, and from 1991 to 1993 he was deputy assistant secretary of the US Treasury Department. He currently serves as co-chair of the non-partisan Committee on Capital Markets Regulation. Glenn's fields of specialisation are public economics, financial markets and institutions, corporate finance, macroeconomics, industrial organisation and public policy. He is the author of more than 100 articles in leading journals.
Anthony Patrick (Tony) O'Brien is a Professor of Economics at Lehigh University. He has taught principles of economics for more than 20 years and has received the Lehigh University Award for Distinguished Teaching. He was formerly the director of the Diamond Center for Economic Education and was named a Dana Foundation Faculty Fellow and Lehigh Class of 1961 Professor of Economics. Tony has been a visiting professor at the University of California, Santa Barbara, and the Graduate School of Industrial Administration at Carnegie Mellon University. His research has dealt with such issues as the evolution of the US car industry, sources of US economic competitiveness, the development of US trade policy, the causes of the Great Depression and the causes of black–white income differences. His research has been published in leading journals.
