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Essentials of Economics, 6/E
Paul R. Gregory, University of Houston

ISBN-10: 0321238036
ISBN-13:  9780321238030

Publisher:  Prentice Hall
Copyright:  2005
Format:  Paper; 352 pp
Published:  04/28/2004
Status: Instock


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Description

Essentials of Economics delivers a concise and balanced introduction to modern economics. Designed for the one-semester course, the fifth edition combines a solid foundation of theory with real-world examples, applications, and data. Gregory explores numerous modern topics in a non-technical manner, including a new chapter on the economics of the Internet and e-Commerce. Coverage of modern microeconomics sets the stage for a discussion of macroeconomics, providing a logical sequence that parallels how the field evolved.


Features

  • Micro chapters cover information theory and contemporary industrial organization theory, and provide a comprehensive treatment of traditional microeconomics.
  • A unique three-chapter Part 3 builds up the microfoundations of macroeconomics. For example, Chapter 8, The Labor Market begins with the supply and demand of labor and builds up to theory of unemployment.
  • Macro chapters integrate modern aggregate supply and demand analysis, expectations theory, contracting and the natural rate hypothesis; analyze the different views of aggregate supply in the short and long runs; and discuss the activism-nonactivism policy debate.
  • Boxed applications and examples that illustrate theory throughout the Microeconomics chapters.
  • Real-world data and policy examples reinforce theoretical concepts of Macroeconomics.


New To This Edition

  • A clearer, more streamlined presentation includes new material within Part 3, Microfoundation of Macroeconomics , and a more concise treatment of later macroeconomics chapters. For example, Microfoundations covers unemployment along with the micro labor market, which saves duplication in macroeconomic chapters. The same is true of consumption, in which Microfoundations covers about one third of conventional macroeconomics
  • A NEW Chapter 4, Information, Internet, E-Commerce, and Financial Markets , takes a look at the impact of the information revolution on the economy, considers the question of who pays for the Internet (which has characteristics of a public good), and analyzes the structure of the Online marketplace.
  • New and updated applications provide current examples.
  • The discussion of inflation has been moved from Chapter 11, Macroeconomic Issues: Economic Growth and the Business Cycle , to Chapter 14, Inflation.


Table of Contents

I. INTRODUCTION TO ECONOMICS.

 1. Scarcity, Choice, and Opportunity Costs.

 2. How a Market Economy Works: The Price System.

 3. Market Demand, Supply, and Elasticity.

 4. Information, Internet, E-commerce, and Financial Markets.

II. ESSENTIALS OF MICROECONOMICS.

 5. Costs and Productivity.

 6. Competitive Markets.

 7. Monopoly, Oligopoly, and Strategy.

III. MICROFOUNDATION OF MACROECONOMICS.

 8. The Labor Market: Wages, Employment, and Unemployment.

 9. Saving, Investment, and Interest Rates.

10. Government Spending, Taxation, and Deficits.

IV. ESSENTIALS OF MACROECONOMICS.

11. Macroeconomic Issues: Economic Growth and the Business Cycle.

12. Aggregate Supply and Aggregate Demand.

13. Money and Banking.

14. Inflation.

15. Macro Stabilization Policy.

V. INTERNATIONAL ECONOMICS.

16. International Trade and Globalization.

17. The International Monetary System.



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Online Study Guide, 6/E
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©2005  |  Prentice Hall  |  Electronic Supplement  |  Available
ISBN-10: 0321238052  |  ISBN-13: 9780321238054
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Companion Website, 6/E
Gregory
©2005  |  Prentice Hall  |  On-line Supplement; 0 pp  |  Live
ISBN-10: 0321238044  |  ISBN-13: 9780321238047
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Online Study Guide, 6/E
Gregory
©2005  |  Prentice Hall  |  Electronic Supplement  |  Available
ISBN-10: 0321238052  |  ISBN-13: 9780321238054
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