Economics, 7th edition

  • Glenn Hubbard
  • Anthony Patrick O'Brien

Overview

The authors of Economics, Hubbard and O’Brien, help foster interest in the discipline’s concepts, and make the key principles of this topic relevant to readers’ lives by demonstrating how real businesses use economics to make decisions every day. With ever-changing US and world economies, the 7th Edition has been updated with the latest developments using new real-world business and policy examples. Regardless of their future career path — opening an art studio, trading on Wall Street, or bartending at the local pub, readers will benefit from understanding the economic forces behind their work.

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Table of contents

PART I: INTRODUCTION

1. Economics: Foundations and Models

Appendix: Using Graphs and Formulas  

2. Trade-offs, Comparative Advantage, and the Market System

3. Where Prices Come From: The Interaction of Demand and Supply    

4. Economic Efficiency, Government Price Setting, and Taxes   

Appendix: Quantitative Demand and Supply Analysis

           

PART II: MARKETS IN ACTION: POLICY AND APPLICATIONS

5. Externalities, Environmental Policy, and Public Goods

6. Elasticity: The Responsiveness of Demand and Supply          

7. The Economics of Health Care

           

PART III: FIRMS IN THE DOMESTIC AND INTERNATIONAL ECONOMIES

8. Firms, the Stock Market, and Corporate Governance

Appendix: Tools to Analyze Firms’ Financial Information

9. Comparative Advantage and the Gains from International Trade

           

PART IV: MICROECONOMIC FOUNDATIONS: CONSUMERS AND FIRMS

10. Consumer Choice and Behavioral Economics          

Appendix: Using Indifference Curves and Budget Lines to Understand Consumer Behavior         

11. Technology, Production, and Costs

Appendix: Using Isoquants and Isocost Lines to Understand Production and Cost

           

PART V: MARKET STRUCTURE AND FIRM STRATEGY

12. Firms in Perfectly Competitive Markets      

13. Monopolistic Competition: The Competitive Model in a More Realistic Setting        

14. Oligopoly: Firms in Less Competitive Markets         

15. Monopoly and Antitrust Policy      

16. Pricing Strategy

           

PART VI: LABOR MARKETS, PUBLIC CHOICE, AND THE DISTRIBUTION OF INCOME

17. The Markets for Labor and Other Factors of Production

18. Public Choice, Taxes, and the Distribution of Income

           

PART VII: MACROECONOMIC FOUNDATIONS AND LONG-RUN GROWTH

19. GDP: Measuring Total Production and Income        

20. Unemployment and Inflation         

21. Economic Growth, the Financial System, and Business Cycles          

22. Long-Run Economic Growth: Sources and Policies

           

PART VIII: SHORT-RUN FLUCTUATIONS

23. Aggregate Expenditure and Output in the Short Run           

Appendix: The Algebra of Macroeconomic Equilibrium  

24. Aggregate Demand and Aggregate Supply Analysis  

Appendix: Macroeconomic Schools of Thought

           

PART VIIII: MONETARY AND FISCAL POLICY

25. Money, Banks, and the Federal Reserve System     

26. Monetary Policy    

27. Fiscal Policy          

Appendix: A Closer Look at the Multiplier         

28. Inflation, Unemployment, and Federal Reserve Policy

           

PART X: THE INTERNATIONAL ECONOMY

29. Macroeconomics in an Open Economy       

30. The International Financial System

 

Appendix: The Gold Standard and the Bretton Woods System 

Published by Pearson (April 9th 2018) - Copyright © 2019