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The seventh edition of this text continues to introduce new economics students to key principles essential to an understanding of fundamental economic problems. It makes clear the policy alternatives that Australian society must use to cope with these problems in an international context. The text has been updated to consider those parts of the Australian economy that have been transformed in recent years and the increased emphasis on global competition in the economic environment that is introduced in the early chapters of the text. It successfully strikes a balance between the academic rigour that instructors demand and the simplicity that students need. Totally new cases and boxed examples emphasise application of economic principles. Primarily concerned with 'mainstream' economics, the text recognises the ideology of market capitalism and acknowledges criticism of the mainstream approach, allowing students to form their own views about the faults and limitations of mainstream ideas. Increased discussion of economic data and cases equips students with the tools to critically assess economic debates in both the public and private sectors, as well as recognise the human interest aspects of economic concepts.
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Product details

  • Paperback
  • 78 x 98 x 7mm
  • McGraw-Hill Education / Australia
  • Australia
  • Revised
  • 7th Revised edition
  • 0074713248
  • 9780074713242

Table of contents

Part One: Introduction to Economics

Ch 1The nature and method of economics

Ch 2The economising problem

Ch 3Demand and supply

Part Two: An Overview of Microeconomics

Ch 4 Allocation and the market system

Ch 5Organisation of business in the Australia

Part Three: The Economics of Markets

Ch 6 Elasticity and its applications

Ch 7Consumer behaviour

Ch 8An overview of market structures

Ch 9The costs of production

Ch 10Pure competition

Ch 11Pure monopoly

Ch 12Monopolistic competition

Ch 13Oligopoly

Ch 14The demand for economic resources

Ch 15Wage determination

Ch 16Rent, interest and profits

Part Four: The Role of Government

Ch 17Market failure and resource allocation

Ch 18Inequality and poverty

Part Five: International Economics

Ch 19Trade, free trade and protection
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About Ron McIver

Professor John Jackson, B.Sc.(Hons), M.Sc.(Economics)(London), Ph.D.(Pennsylvania)

John Jackson was most recently Professor of Economics and Deputy Vice-Chancellor at RMIT; he died in 2006. He was previously Professor and Dean of Business at RMIT from 1991-1998 and before that Associate Professor and Dean of Economics and Commerce at the University of Western Australia. John had a Masters degree in economics from London University and obtained his PhD in economics from the University of Pennsylvania where he worked in the Wharton Econometrics Forecasting Unit.
John had twenty years of experience teaching introductory economics and overseeing the delivery of large first year courses. He had been associated with this McGraw-Hill textbook on introductory economics since its first edition which appeared in 1980. Other teaching areas included public and welfare economics and John also contributed to senior leadership programs for public and private sector managers.

John's areas of research included optimal economic growth and growth policy and the role of education in growth of the Australian economy and he acted as a consultant to over twenty government agencies and private sector organisations. In addition to his academic and administrative work John was extensively involved as a board member of a number of arts and public broadcasting organisations.
Mr Ron McIver, B.Ec. (Hons), M.Ec. (Flinders), M.App.Fin. (Macquarie), AIBF

Ron McIver is a Lecturer in financial economics in the School of International Business, and Director of the Financial Markets Research Group (FMRG) within the Centre of Business Analysis and Research (CoBAR), at the University of South Australia. Prior to joining the University Ron was a Senior Research Officer (Economics) with the Industries Assistance Commission of the Australian Department of Treasury in Canberra. Ron has also held the position of Senior Lecturer in Quantitative Finance and Investment Management within the Accounting and Finance Group of the Business School at the University of Greenwich, London. Ron has provided training and advisory services in economics and finance within the banking and finance industry and the public sector, and has acted as a consultant on the design of graduate programs in business.

Ron is an experienced provider of learning resources in the area of economics, having been extensively involved in the design, development and writing of a large number of courses for both the University of South Australia and the Open Learning Agency of Australia (OLAA). Ron has also co-authored a number of reports, texts on economics and articles on business and economic education.

In recognition of his efforts in innovation in the teaching of economics Ron has been a recipient of a University of South Australia Award for Excellence in Teaching.
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