Economics 3rd edition
Authors: R Glenn Hubbard, Glenn Hubbard, R Glenn P Hubbard, Glenn P Hubbard, Anthony Patrick O'Brien, Anthony P O'Brien
Publisher: Prentice Hall
Details of the book:
Grounded in the contemporary economic problems and real world manifestations of economic theory, this book is completely updated and keeps up with the issues and demand of the present-day world. Among the current issues dealt with in the text, extensive coverage has been provided to the financial crisis, recession and its resultant fiscal and monetary policy and regulations (counter response). This book aides and encourages students to internalize the body of knowledge keeping in mind the business and trade problems of the real world. Economics 3rd ed. Makes students question the reason they chose the subject and whether what they learn will ever be useful to them. It helps them relate the text with the practical side of the subject; comprehend how everyday major and minor decisions are made in the business and corporate world. Hence, the utility of the book is not limited only to those majoring specifically in the stream of economics, rather anyone who are involved or will be involved in any business, in any role (of an entrepreneur, stake holder, investor etc.) will greatly benefit from this text. The book is written in a fashion so that it incorporates elements from the real business world, and it explains its contents lucidly enough for readers or students from all fields of study to comprehend it. Thus, market structures, economic concepts, problems and issues are all explained with examples which cut across subjects and fields. Each chapter opens with case studies and contains well illustrated concepts (by means of various application based exercises), this keeps readers intrigues and focused on the issues at hand.
The book is backed with MyEconLab services, which makes teaching and learning better, easier and more effective than before. Teachers can design end of lesson exercises, study plans, assignments, and papers for students, to test out their comprehension of the concepts being discussed. The interactive online tutorial system which provides immediate feedback to the students on all their concerns and problems, help students better understand what they read and also encourages them to stay focused.
The book contains the following:
Introduction to the subject, its foundations and models with insights on the market system, trade-offs and comparative advantages. An extensive coverage of the issues of demand and supply and their interaction within, are provided next. Problems of taxes, government intervention in price setting and economic efficiency are rounded off with the aforementioned topics in part one of the book. In part two, issues of the market, including the elasticity and responsiveness of demand and supply, public goods, environmental policies, role of firms in both national and international economies, comparative advantage, gains in international business, stock market operations and corporate governance, are covered. Next, the most important microeconomic issues are covered like those of forms and consumers, e.g. behavioral branch of economics, demand and choice of the consumers, technology and costs involved in the production process etc. Other themes covered in the book are Market Structure along with the Firm Strategy, information on the markets for factors of production, Information on Taxes, and the Distribution of Income - their resultant widespread inequality, Macroeconomic issues and its long-run growth as well as its short run rise and fall, Monetary and Fiscal Policy and regulations and lastly the very important sector of the International Economy.