Economics, 8th edition

  • Glenn Hubbard
  • Anthony Patrick O'Brien

Overview

Economics makes economic concepts relevant by demonstrating how real organizations apply them to make decisions every day. With ever-changing US and world economies, the 8th Edition has been updated with the latest developments using new real-world business and policy examples. Regardless of your future career path — opening an art studio, trading on Wall Street, or bartending at the local pub, you'll benefit from understanding the economic forces behind your work.

Table of contents

PART 1: 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 2: 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 3: FIRMS IN THE DOMESTIC AND INTERNATIONAL ECONOMIES
8. Firms, the Stock Market, and Corporate Governance
    Appendix: Present Value
    Online Appendix: Tools to Analyze Firms’ Financial Information
9. Comparative Advantage and the Gains from International Trade

PART 4: 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
    Online Appendix: Using Isoquants and Isocost Lines to Understand Production and Cost

PART 5: 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

PART 6: LABOR MARKETS, PUBLIC CHOICE, AND THE DISTRIBUTION OF INCOME
16. The Markets for Labor and Other Factors of Production
17. Public Choice, Taxes, and the Distribution of Income

PART 7: MACROECONOMIC FOUNDATIONS AND LONG-RUN GROWTH
18. GDP: Measuring Total Production and Income
19. Unemployment and Inflation
20. Economic Growth, the Financial System, and Business Cycles
21. Long-Run Economic Growth: Sources and Policies

PART 8: SHORT-RUN FLUCTUATIONS
22. Aggregate Expenditure and Output in the Short Run
      Appendix: The Algebra of Macroeconomic Equilibrium
23. Aggregate Demand and Aggregate Supply Analysis
      Appendix: Macroeconomic Schools of Thought

PART 9: MONETARY AND FISCAL POLICY
24. Money, Banks, and the Federal Reserve System
25. Monetary Policy
26. Fiscal Policy
      Appendix: A Closer Look at the Multiplier
27. Inflation, Unemployment, and Federal Reserve Policy

PART 10: THE INTERNATIONAL ECONOMY
28. Macroeconomics in an Open Economy
      Online Appendix: The Gold Standard and the Bretton Woods System

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Published by Pearson (April 21st 2020) - Copyright © 2021