Summary: Hubbard & O'Brien are still keeping it real in the third edition with new and updated coverage that reflects the current state of the economy and the recent financial meltdown.
The book motivates users by demonstrating how real business uses economics to make real decisions on a daily basis. Covers the different Market Structures in an intuitive fashion so that readers of all backgrounds and fields can grasp the importance and flow of these concepts. Chapte ...show morer opening cases, examples and figures motivate the economic principles covered, while Solved Problems provide models of how to solve an economic problem - keeping readers focused on the main ideas of each chapter, and preventing them from getting bogged down due to a lack of basic math or "word problem" skills.
Economics: Foundations and Models; Trade-offs, Comparative Advantage, and the Market System; Where Prices Come From; The Interaction of Demand and Supply; Economic Efficiency, Government Price Setting, and Taxes; Externalities, Environmental Policy, and Public Goods; Elasticity: The Responsiveness of Demand and Supply; Firms, the Stock Market, and Corporate Governance; Comparative Advantage and the Gains Production, and Costs; Firms in Perfectly Competitive Markets; Monopolistic Competition: The competitive Model in a More Realistic Setting; Oligopoly: Firms in Less Competitive Markets; Monopoly and Antitrust Policy; Pricing Strategy; The Markets for Labor and Other Factors of Production; The Economics of Information; The Tax System and the Distribution of Income; GDP: Measuring Total Production and Income; Unemployment and Inflation; Economic Growth, the financial System, and Business Cycles; Long-Run Economic Growth: Sources and Policies; Aggregate Expenditure and Output in the Short Run; Aggregate Demand and Aggregate Supply Analysis; Money, Banks, and the Federal Reserve System; Monetary Policy; Fiscal Policy; Inflation, Unemployment, and Federal Reserve Policy; Macroeconomics in an Open Economy; The International Financial System
For anyone in business who wants to benefit from understanding the economic forces behind their work. ...show less