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Master the principles of economics, and gain an understanding of current economic situations with the solid introduction and policy-based examples and applications found in MICROECONOMICS: PRINCIPLES AND POLICY, 13E. Written by two of the most respected economists in the world, this edition provides significant updates that reflect the latest economic situations and timely economic data. The authors combine the right level of rigor and detail to clarify even the most complicated concepts. A new chapter highlights U.S. economic leadership and assesses prospects for future U.S. growth based on strengths and weaknesses in key areas, such as productivity, innovation, entrepreneurship, health care, education, inequality, trade, the budget deficit, and climate change. Well-developed examples, intriguing puzzles and meaningful economic issues provide a good balance of theory to application.
Language: English
ISBN-10: 130528061X
ISBN-13: 978-1305280618
ISBN-13: 9781305280618
Author: William J. Baumol, Alan S. Blinder
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Table of content:
1. What Is Economics?
2. The Economy: Myth and Reality.
3. The Fundamental Economic Problem: Scarcity and Choice.
4. Supply and Demand: An Initial Look.
5. Consumer Choice: Individual and Market Demand.
6. Demand and Elasticity.
7. Production, Inputs, and Cost: Building Blocks for Supply Analysis.
8. Output, Price, and Profit: The Importance of Marginal Analysis.
9. Securities, Business Finance, and the Economy: The Tail that Wags the Dog?
10. The Firm and the Industry under Perfect Competition.
11. Monopoly.
12. Between Competition and Monopoly.
13. Limiting Market Power: Regulation and Antitrust.
14. The Case for Free Markets: The Price System.
15. The Shortcomings of Free Markets.
16. Externalities, the Environment, and Natural Resources.
17. Taxation and Resource Allocation.
18. Pricing the Factors of Production.
19. Labor and Entrepreneurship: The Human Inputs.
20. Poverty, Inequality, and Discrimination.
21. International Trade and Comparative Advantage.
22. Is U.S. Economic Leadership Threatened?
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