Principles of Economics, Updated Edition

Principles of Economics, Updated Edition

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For the 2 semester freshman/sophomore course in Principles of Economics.Since the 6/e published, many things have affected our economy: the Presidential Election, the impact of the 9/11 tragedy, and the recession that we are all living through on a daily basis. This updated edition provides access to the most current economic information available. Written by two highly respected economists and educators, the text uses the "Stories, Graphs, and Equations" approach to make economic concepts accessible and relevant to students with various learning styles. Known for its unified and logical structure, lively writing style, clear explanations and unparalleled supplements package, the text supports both the instructor and the student through this first, often challenging, economics course. Case/Fair is one of the most widely adopted texts in this market, nationwide!
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Product details

  • Hardback | 832 pages
  • 221 x 282.4 x 39.4mm | 1,941.4g
  • Pearson
  • United States
  • 6th edition
  • 0130464732
  • 9780130464736

About Case

Karl E. Case is the Katherine Coman and A. Barton Hepburn Professor of Economics at Wellesley College where he has taught for 24 years and is a Visiting Scholar ,at the Federal Reserve Bank of Boston. Before coming to Wellesley, he served as Head Tutor (director of undergraduate studies) at Harvard, where he won the Allyn Young Teaching Prize. He has been a member of the AEA's Committee on Economic Education and was Associate Editor of the Journal of Economic Education, responsible for the section on innovations in teaching. He teaches at least one section of the principles course every year. Professor Case received his B.A. from Miami University in 1968, spent three years on active duty in the Army including a year in Vietnam, and received his Ph.D. in Economics from Harvard University in 1976. Professor Case's research has been in the areas of real estate, housing, and public finance. He is author or co-author of five books, including Principles of Economics, Economics and Tax Policy, and Property Taxation: The Need for Reform and has published numerous articles in professional journals. He is also a founding partner in the real estate research firm of Case Shiner Weiss, Inc. and serves as a member of the Boards of Directors of the Mortgage Guaranty Insurance Corporation (MGIC), Century Bank, The Lincoln Institute of Land Policy, and the New England Economic Project. Ray C. Fair is Professor of Economics at Yale University. He is a member of the Cowles Foundation at Yale and a Fellow of 'the Econometric Society. He received a B.A. in economics from Fresno State College in 1964 and a Ph.D. in economics from M.LT. in 1968. He taught at Princeton University from 1968 to 1974 and has been at Yale since 1974. Professor Fair's research has primarily been in the areas of macroeconomics and econometrics, with particular emphasis on macroeconometric model building. His publications include Specification, Estimation, and Analysis of Macroeconometric Models (Harvard Press, 1984) and Testing Macroeconometric Models (Harvard Press, 1994). Professor Fair has taught introductory and intermediate macroeconomics at Yale. He has also taught: graduate courses in macroeconomic theory and macroeconometrics. Professor Fair's United States and multicountry models are available for use on the Internet free of charge. The' address is Many teachers have found that having students work with the United States; model on the Internet is a useful complement to even an, introductory macroeconomics course.
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Table of contents

I. INTRODUCTION TO ECONOMICS. 1. The Scope and Method of Economics. 2. The Economic Problem: Scarcity and Choice. 3. Demand, Supply, and Market Equilibrium. 4. The Price System, Demand and Supply, and Elasticity. II. FOUNDATIONS OF MICROECONOMICS: CONSUMERS AND FIRMS. 5. Household Behavior and Consumer Choice. 6. The Production Process: The Behavior of Profit Maximizing Firms. 7. Short-Run Costs and Output Decisions. 8. Costs and Output Decisions in the Long Run. 9. Input Demand: The Labor and Land Markets. 10. Input Demand: The Capital Market and the Investment Decision. 11. General Equilibrium and the Efficiency of Perfect Competition. III. MARKET IMPERFECTIONS AND THE ROLE OF GOVERNMENT. 12. Monopoly and Antitrust Policy. 13. Monopolistic Competition and Oligopoly. 14. Externalities, Public Goods, Imperfect Information, and Social Choice. 15. Income Distribution and Poverty. IV. CONCEPTS AND PROBLEMS IN MACROECONOMICS. 16. Introduction to Macroeconomics. 17. Measuring National Output and National Income. 18. Long-Run and Short-Run Concerns: Growth, Productivity, Unemployment, and Inflation. V. THE GOODS AND MONEY MARKETS. 19. Aggregate Expenditure and Equilibrium Output. 20. The Government and Fiscal Policy. 21. The Money Supply and the Federal Reserve System. 22. Money Demand, the Equilibrium Interest Rate, and Monetary Policy. VI. MACROECONOMIC ANALYSIS. 23. Money, the Interest Rate, and Output: Analysis and Policy. 24. Aggregate Demand, Aggregate Supply, and Inflation. 25. The Labor Market, Unemployment, and Inflation. 26. Macroeconomic Issues and Policy. 27. Household and Firm Behavior in the Macroeconomy: A Further Look. 28. Long-Run Growth. 29. Debates in Macroeconomics: Monetarism, New Classical Theory, and Supply Side Economics. VII. THE WORLD ECONOMY. 30. International Trade, Comparative Advantage, and Protectionism. 31. Open Economy Macroeconomics: The Balance of Payments and Exchange Rates. 32. Economic Growth in Developing and Transitional Economies. Glossary. Solutions to Even-Numbered Problems. Index.
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