Discover how real-world policy issues, decisions, and applications impact you every day with the practical insights and accessible explanations in Hall/Lieberman's ECONOMICS. Filled with economic data and trends as current as the most recent headlines, this book uses cutting-edge examples to illustrate core economic theory and application in action. Comprehensive, yet easy-to-understand, this book equips readers with the solid economic foundation needed for success in any career. Streamlined chapters focus on today's most important economic theories and events as well as the latest in economic thinking, all while demonstrating how economics is an integrated, powerful body of knowledge able to address complex domestic and global issues.
Key Features
- Proven authors offer authoritative, practical perspectives on emerging issues. A cutting-edge researcher, author Robert Hall is well recognized as one of the nation's most respected economists. Author Marc Lieberman combines his talents as a prominent leading economist and award-winning teacher to provide a practical perspective as well as business insights to the book.
- Emphasis on core economic theory ensures solid foundation. Hall/Lieberman's signature, accessible, no-nonsense approach ensures all students gain a solid understanding of core economic theories and applications. You can use this comprehensive base of knowledge as a launching pad for interesting extensions of key topics.
- Clear microeconomics approach clarifies concepts for students. This edition's sensible approach to microeconomics includes a separate chapter covering the MC=MR rule of profit maximization before addressing each individual market structure. In addition, the chapter on efficiency appears after market structures to separate description and assessment issues, and provide a more unified, understandable approach.
- Modern macroeconomics approach provides thorough understanding of contemporary issues. As part of this edition's easy-to-understand approach, long-run and short-run perspectives are continually compared while clearly presenting strengths and limitations. This edition's chapter on economic fluctuations thoroughly explains why different perspectives exist and helps resolve a variety of controversies and contradictions.
- Homework and course management technology as well as cases ensure an interactive, dynamic learning environment. Cutting-edge homework and course management technology, such as Aplia™, CengageNOW™, and CourseMate online resources, offer you flexibility and significant time savings. New and revised end-of-chapter "Using the Theory" mini-cases give you relevant real-world applications to further encourage lively class discussions or meaningful homework.
New to This Edition
- New "using the theory" features throughout the edition reflect fresh, practical applications. Many of the chapters offer updated "Using the Theory" mini-cases to further emphasize the immediate value and practical application of concepts students are learning.
- Updated economic facts and data reflect today's latest emerging business information. This edition incorporates the most recent, pertinent economic and financial data from today's headlines into an updated contemporary presentation to ensure your students are prepared to deal with tomorrow's challenges.
- Fresh, updated examples highlight today's most contemporary situations and challenges. This edition's memorable, practical examples bring today's latest business and economic situations to life while emphasizing key concepts from the text.
- Streamlined microeconomic chapters focus on concepts most important for success. Purposeful, concise, yet thorough content throughout the microeconomic chapters is streamlined in this edition to emphasize the microeconomic concepts and applications most critical in business today.
- New diagrams clarify concepts and aid student understanding. This edition provides new clear diagrams to visually reinforce the concepts presented in the text and ensure student comprehension.
- Optional content is now available in appendixes. The authors have relocated both microeconomics and macroeconomics material to easily accessible appendixes to give you the flexibility to incorporate or omit this information from your course, depending on your students' needs.
- Updated treatment of money, the banking system, and monetary policy reflects today's latest thinking. This edition's presentation of money, banking, and monetary policies throughout the macroeconomic chapters incorporates the most recent emerging trends and thoughts from central banks and leading economists.
Contents
Part I: PRELIMINARIES.
- 1. What Is Economics?
- 2. Scarcity, Choice, and Economic Systems.
Part II: MARKETS AND PRICES.
- 3. Supply and Demand.
- 4. Working with Supply and Demand.
- 5. Elasticity.
Part III: MICROECONOMIC DECISION MAKERS.
- 6. Consumer Choice.
- 7. Production and Cost.
- 8. How Firms Make Decisions: Profit Maximization.
Part IV: PRODUCT MARKETS.
- 9. Perfect Competition.
- 10. Monopoly.
- 11. Monopolistic Competition and Oligopoly.
Part V: LABOR, CAPITAL, AND FINANCIAL MARKETS.
- 12. Labor Markets.
- 13. Capital and Financial Markets.
Part VI: EFFICIENCY, GOVERNMENT, AND THE GLOBAL ECONOMY.
- 14. Economic Efficiency and the Competitive Ideal.
- 15. Government's Role in Economic Efficiency.
- 16. Comparative Advantage and the Gains from International Trade.
Part VII: MACROECONOMICS: BASIC CONCEPTS.
- 17. What Macroeconomics Tries to Explain.
- 18. Production, Income, and Employment.
- 19. The Price Level and Inflation.
Part VIII: LONG-RUN MACROECONOMICS.
- 20. The Classical Long-Run Model.
- 21. Economic Growth and Rising Living Standards.
Part IX: SHORT-RUN MACROECONOMICS.
- 22. Economic Fluctuations.
- 23. The Short-Run Macro Model.
Part X: MACROECONOMIC POLICY.
- 24. Fiscal Policy.
- 25. Banking and Financial Institutions.
- 26. Monetary Policy.
- 27. Aggregate Demand and Aggregate Supply.
- 28. Inflation and Monetary Policy.
- 29. Exchange Rates and Macroeconomic Policy.
About the Authors
- Dr. Robert E. Hall is a prominent applied economist. He is the Robert and Carole McNeil Joint Professor of Economics at Stanford University and Senior Fellow at Stanford's Hoover Institution, where he conducts research on inflation, unemployment, taxation, monetary policy, and the economics of high technology. Dr. Hall received his Ph.D. from MIT and has taught there as well as at the University of California, Berkeley. He was the president of the American Economic Association for the year 2010. He is also director of the research program on Economic Fluctuations of the National Bureau of Economic Research, and chairman of the Bureau's Committee on Business Cycle Dating, which maintains the chronology of the U.S. business cycle. He has published numerous monographs and articles in scholarly journals, and co-authored a popular intermediate text. Dr. Hall has advised the Treasury Department and the Federal Reserve Board on national economic policy and has testified on numerous occasions before congressional committees.
- Dr. Marc Lieberman is Clinical Professor of Economics at New York University. He received his Ph.D. from Princeton University. Dr. Lieberman has taught graduate and undergraduate courses in microeconomics, macroeconomics, econometrics, labor economics, and international economics. He has presented his extremely popular Principles of Economics course at Harvard, Vassar, the University of California at Santa Cruz, the University of Hawaii, and New York University. Dr. Lieberman has won NYU's Golden Dozen teaching award three times and has also received the Economics Society Award for Excellence in Teaching. Dr. Lieberman has consulted for the Bank of America and the Educational Testing Service. In his spare time, he is a professional screenwriter and teaches screenwriting at NYU's School of Continuing and Professional Studies.
Book Details
- Hardcover: 972 pages
- Publisher: Cengage Learning; 6 edition (©2013)
- Language: English
- ISBN-10: 1111822344
- ISBN-13: 978-1111822347
- Product Dimensions: 8.8 x 1.7 x 10 inches
- List price: $329.95