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Microeconomics Principles, Applications, and Policy Implications introduces students to foundational principles of modern economics with real-world applications. The text draws connections between key concepts and sports, music, entertainment, the housing market, the bond market, the stock market, the loanable funds market, and other related financial markets. The opening chapter addresses the scarcity of economic resources and the rationale for studying economics in order to maximize the economic and social impact of limited resources. Later chapters introduce supply and demand models and criteria for determining market efficiency. Students learn about the economics of the stock market, bond market, and loanable fund market, as well as theories of price elasticity, behavioral economics, and consumer choice. Additional chapters introduce the market structure of firms and industries, monopolies, monopolistic competition, and oligopoly. Students study the role of government in welfare programs, labor market behavior, and issues related to income distribution, income inequality, and poverty in the U.S. economy. Microeconomics Principles, Applications, and Policy Implications is an ideal resource for foundational courses in economics.
Macroeconomics Principles, Applications and Policy Implications introduces students to foundational principles of modern economics with real-world applications. The text draws connections between key concepts and sports, music, entertainment, the housing market, the bond market, the stock market, the loanable funds market, and other related financial markets. The book begins by addressing the scarcity of economic resources and the rationale for studying economics in
This book shows, from start to finish, how microeconomics can and should be used in the analysis of public policy problems. It is an exciting new way to learn microeconomics, motivated by its application to important, real-world issues. Lee Friedman's modern replacement for his influential 1984 work not only brings the issues addressed into the present but develops all intermediate microeconomic theory to make this book accessible to a much wider audience. Friedman offers the microeconomic tools necessary to understand policy analysis of a wide range of matters of public concern--including the recent California electricity crisis, welfare reform, public school finance, global warming, health insurance, day care, tax policies, college loans, and mass transit pricing. These issues are scrutinized through microeconomic models that identify policy strengths, weaknesses, and ideas for improvements. Each chapter begins with explanations of several fundamental microeconomic principles and then develops models that use and probe them in analyzing specific public policies. The book has two primary and complementary goals. One is to develop skills of economic policy analysis: to design, predict the effects of, and evaluate public policies. The other is to develop a deep understanding of microeconomics as an analytic tool for application--its strengths and extensions into such advanced techniques as general equilibrium models and pricing methods for natural monopolies and its weaknesses, such as behavioral inconsistencies with utility-maximization models and its limits in comparing institutional alternatives. The result is an invaluable professional and academic reference, one whose clear explanation of principles and analytic techniques, and wealth of constructive applications, will ensure it a prominent place not only on the bookshelves but also on the desks of students and professionals alike.
Russell Cooper and Andrew John have written an economics text aimed directly at students from its very inception. You?re thinking, "Yeah, sure. I?ve heard that before." This textbook, Economics: Theory Through Applications, centers around student needs and expectations through two premises:? Students are motivated to study economics if they see that it relates to their own lives.? Students learn best from an inductive approach, in which they are first confronted with a problem, and then led through the process of solving that problem. Many books claim to present economics in a way that is digestible for students; Russell and Andrew have truly created one from scratch. This textbook will assist you in increasing students? economic literacy both by developing their aptitude for economic thinking and by presenting key insights about economics that every educated individual should know. How? Russell and Andrew have done three things in this text to accomplish that goal: Applications Ahead of Theory: They present all the theory that is standard in Principles books. But by beginning with applications, students get to learn why this theory is needed. Learning through Repetition: Important tools appear over and over again, allowing students to learn from repetition and to see how one framework can be useful in many different contexts. A Student?s Table of Contents vs. An Instructor?s Table of Contents: There is no further proof that Russell and Andrew have created a book aimed specifically at educating students about economics than their two tables of contents.
Created specifically for the economics course as taught in business schools, Economic Principles: A Business Perspective covers the fundamentals of economics in the context of today’s globalized business world, with strong examples, integrated technology, and practical pedagogy. Integrated business and policy briefs, in-depth case studies, chapter-ending business applications, thoroughly explained graphs and a battery of simple but useful learning tools support the intersection of theory and practice. It’s accompanied by a robust media component, SaplingPlus, which combines Sapling’s acclaimed online homework with a complete e-book and all interactive features for the text.
In the ever-evolving landscape of economic thought, the significance of microeconomics cannot be overstated. It is within this intricate framework of individual choices, market dynamics, and policy implications that the foundation of economic understanding is laid. "Microeconomic Foundations: Theory, Application, and Policy" is conceived with the ambition to bridge the realms of theoretical microeconomics and its practical applications, offering a comprehensive guide that navigates through the core principles, contemporary issues, and the multifaceted role of policy in shaping economic outcomes. This book is the culmination of years of teaching, research, and engagement with the practical aspects of microeconomics. It is designed to serve a broad audience, from undergraduate students grappling with the basics of the discipline to graduate scholars exploring advanced concepts, and professionals seeking to apply microeconomic principles to real-world scenarios. The genesis of this work lies in the recognition of the need for a text that not only elucidates the theoretical underpinnings of microeconomics but also demonstrates the application of these theories in addressing contemporary economic challenges.
Principles of Macroeconomics for AP® Courses 2e covers the scope and sequence requirements for an Advanced Placement® macroeconomics course and is listed on the College Board's AP® example textbook list. The second edition includes many current examples and recent data from FRED (Federal Reserve Economic Data), which are presented in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition was developed with significant feedback from current users. In nearly all chapters, it follows the same basic structure of the first edition. General descriptions of the edits are provided in the preface, and a chapter-by-chapter transition guide is available for instructors.
In its first edition, this book helped to define the emerging field of ecological economics. This new edition surveys the field today. It incorporates all of the latest research findings and grounds economic inquiry in a more robust understanding of human needs and behavior. Humans and ecological systems, it argues, are inextricably bound together in complex and long-misunderstood ways. According to ecological economists, conventional economics does not reflect adequately the value of essential factors like clean air and water, species diversity, and social and generational equity. By excluding biophysical and social systems from their analyses, many conventional economists have overlooked problems of the increasing scale of human impacts and the inequitable distribution of resources. This introductory-level textbook is designed specifically to address this significant flaw in economic thought. The book describes a relatively new “transdiscipline” that incorporates insights from the biological, physical, and social sciences. It provides students with a foundation in traditional neoclassical economic thought, but places that foundation within an interdisciplinary framework that embraces the linkages among economic growth, environmental degradation, and social inequity. In doing so, it presents a revolutionary way of viewing the world. The second edition of Ecological Economics provides a clear, readable, and easy-to-understand overview of a field of study that continues to grow in importance. It remains the only stand-alone textbook that offers a complete explanation of theory and practice in the discipline.