Understanding Microeconomics, International Edition - Softcover

Gwartney, James; Stroup, Richard; Sobel, Russell; Macpherson, David

Softcover

ISBN 10: 1111970580 ISBN 13: 9781111970581

Publisher: South-Western College Pub, 2012

Synopsis

UNDERSTANDING MICROECONOMICS, 14E, International Edition reflects current economic conditions, enabling you to apply economic concepts to the real world. The up-to-date text includes analysis and explanation of measures of economic activity in today’s market. It also includes highlights of the recession of 2008-2009, and an in-depth look at the lives and contributions of notable economists. UNDERSTANDING MICROECONOMICS, 14E, International Edition dispels common economic myths. The text uses the "invisible hand" metaphor to explain economic theory, demonstrating how it works to stimulate the economy. The 14th edition includes a robust set of online multimedia learning tools with video clips and free quizzes designed to support classroom work. A completely updated Aplia interactive learning system is also available--with practice problems, interactive tutorials, online experiences and more.

About this title

Review:

Part I: THE ECONOMIC WAY OF THINKING. 1. The Economic Approach. 2. Some Tools of the Economist. Part II: MARKETS AND GOVERNMENT. 3. Supply, Demand, and the Market Process. 4. Supply and Demand: Applications and Extensions. 5. Difficult Cases for the Market, and the Role of Government. 6. The Economics of Collective Decision Making. Part III: CORE MICROECONOMICS. 7. Consumer Choice and Elasticity. 8. Costs and the Supply of Goods. 9. Price Takers and the Competitive Process. 10. Price-Searcher Markets with Low Entry Barriers. 11. Price-Searcher Markets with High Entry Barriers. 12. The Supply of and Demand for Productive Resources. 13. Earnings, Productivity, and the Job Market. 14. Investment, the Capital Market, and the Wealth of Nations. 15. Income Inequality and Poverty. Part IV: INTERNATIONAL ECONOMICS. 16. Gaining from International Trade. Part V: APPLYING THE BASICS: SPECIAL TOPICS IN ECONOMICS. (subject to change) Special Topic 1 Government Spending and Taxation. Special Topic 2 The Internet: How Is It Changing the Economy? Special Topic 3 The Economics of Social Security. Special Topic 4 The Stock Market: Its Function, Performance, and Potential as an Investment Opportunity. Special Topic 5 The Crisis of 2008: Causes and Lessons for the Future. Special Topic 6 Lessons from the Great Depression. Special Topic 7 The Economics of Health Care. Special Topic 8 School Choice: Can It Improve the Quality of Education in America? Special Topic 9 Earnings Differences between Men and Women. Special Topic 10 Do Labor Unions Increase the Wages of Workers? Special Topic 11 Are We Running Out of Resources? Special Topic 12 Difficult Environmental Cases and the Role of Government. Appendix A General Business and Economics Indicators for the United States. Appendix B Answers to Selected Critical Analysis Questions.

About the Author:

James D. Gwartney holds the Gus A. Stavros Eminent Scholar Chair at Florida State University, where he directs the Stavros Center for the Advancement of Free Enterprise and Economic Education. His writings have been widely published in both professional journals and popular media. He is a co-author of COMMON SENSE ECONOMICS: WHAT EVERYONE SHOULD KNOW ABOUT WEALTH AND PROSPERITY (St. Martin’s Press, 2016), a primer on economics and personal finance. Dr. Gwartney’s current research focuses on the measurement and determination of factors that influence cross-country differences in income levels and growth rates. In this regard he is the co-author (with Robert Lawson and Joshua Hall) of the annual report, Economic Freedom of the World, which provides information on the institutions and policies of 157 countries. This data set, published by a worldwide network of institutes in 80 countries, is widely used by scholars investigating topics ranging from economic growth to peaceful relations among nations. Dr. Gwartney served as Chief Economist of the Joint Economic Committee of the U.S. Congress during 1999-2000. In 2004, he was the recipient of the Adam Smith Award of the Association of Private Enterprise Education for his contribution to the advancement of free market ideals. He is a past President of the Southern Economic Association and the Association for Private Enterprise Education. He earned his Ph.D. in economics from the University of Washington.

About this edition

• Publisher: South-Western College Pub
• Publication date: 2012
• ISBN 10: 1111970580
• ISBN 13: 9781111970581
• Binding: Paperback
• Number of pages: 528