Economics, 1e

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NPR 1,404.00


Economics, 1e

Throughout Economics, authors Daron Acemoglu, David Laibson and John List use real economic questions and data to help students learn about the world around them.

NPR 1,404.00 1404.0 NPR NPR 1,560.00

NPR 1,560.00


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  • Pages 792
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Economics, 1e

Throughout Economics, authors Daron Acemoglu, David Laibson and John List use real economic questions and data to help students learn about the world around them. Taking a fresh approach, the authors use the themes of optimization, equilibrium and empiricism to illustrate the power of simple economic ideas and their ability to explain, predict and improve what happens in the world. Each chapter begins with an empirical question that is later answered using data in the Evidence-Based Economics feature. As a result of the text’s practical emphasis, students will learn to apply economic principles to guide the decisions they make in their own lives. Three key principles — optimization, equilibrium and empiricism — lie at the heart of the authors’ approach. Chapters 1–4 introduce these key themes and lay the groundwork for understanding the economic way of thinking about the world. 

  • Optimization. The first principle — that people try to choose the best available option — is optimization. Economists believe that optimization explains most choices people make, including minor decisions like deciding whether to eat a cheeseburger and major decisions like deciding whom to date or marry. When people fail to optimize perfectly, economic reasoning can be used to analyse the mistake and to suggest a better course of action.
  • Equilibrium. Economic systems tend toward equilibrium, wherein each economic actor feels that he or she cannot do any better by picking another course of action. This principle highlights the connections among economic actors and their choices. In a state of equilibrium, consumers and purveyors of goods and services are simultaneously optimizing and their behaviours are consequently intertwined.
  •  Empiricism. While the first two key principles are conceptual, the third is methodological. Economists use data to test economic theories, learn about the world and speak to policymakers. The emphasis on matching theories with real-world data to answer specific questions helps to show students the evidence behind the theory, making economics concrete, interesting and fun.
 I. Introduction to Economics 
  1. The Principles and Practice of Economics 
  2. Economic Methods and Economic Questions 
  3. Optimization: Doing the Best You Can
  4. Demand, Supply and Equilibrium II. Foundations of Microeconomics 
  5. Consumers and Incentives 
  6. Sellers and Incentives
  7. Perfect Competition and the Invisible Hand 
  8. Trade 
  9. Externalities and Public Goods
  10. The Government in the Economy: Taxation and Regulation
  11. Markets for Factors of Production III. Market Structure
  12. Monopoly 
  13. Game Theory and Strategic Play
  14. Oligopoly and Monopolistic Competition IV. Extending the Microeconomic Toolbox
  15. Trade-offs Involving Time and Risk 
  16. The Economics of Information
  17.  Auctions and Bargaining
  18. Social Economics V. Introduction to Macroeconomics 
  19. The Wealth of Nations: Defining and Measuring Macroeconomic Aggregates
  20. Aggregate Incomes VI. Long-Run Growth and Development 
  21. Economic Growth 
  22. Why Isn't the Whole World Developed? VII. Equilibrium in the Macro economy 
  23. Employment and Unemployment 
  24. Credit Markets
  25. The Monetary System VIII. Short-Run Fluctuations and Macroeconomic Policy 
  26. Short-run Fluctuations
  27. Countercyclical Macroeconomic Policy IX. Macroeconomics in a Global Economy
  28.  Macroeconomics and International Trade 
  29. Open Economy Macroeconomics.
Book
Author Acemoglu
Pages 792
Year 2019
ISBN 9789353439927
Publisher Pearson
Language English
Uncategorized
Edition 1/e
Weight 1 kg
Dimensions 20.3 x 25.4 x 4.7 cm
Binding Paperback