Microeconomics 3rd edition by Glenn Hubbard, Anthony Patrick O Brien ISBN 0136021972 9780136021971

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Product details:

ISBN 10: 0136021972
ISBN 13: 9780136021971
Author:  R. Glenn Hubbard, Anthony Patrick O’Brien

Table of contents:

PART 1: Introduction

• Economics: Foundations and Models

  • Key Economic Ideas
  • Economic Problem That Every Society Must Solve
  • Centrally Planned Economies vs. Market Economies
  • Modern “Mixed” Economy
  • Efficiency and Equity
  • Economic Models
  • Microeconomics and Macroeconomics
  • Important Economic Terms

• Trade-offs, Comparative Advantage, and the Market System

  • Production Possibilities Frontier and Opportunity Costs
  • Comparative Advantage and Trade
  • The Market System (including Circular Flow of Income, Market Mechanism, and Legal Basis)

• Where Prices Come From: The Interaction of Demand and Supply

  • Demand Side of the Market
  • Supply Side of the Market
  • Market Equilibrium
  • Effect of Demand and Supply Shifts on Equilibrium

• Economic Efficiency, Government Price Setting, and Taxes

  • Consumer and Producer Surplus
  • Efficiency of Competitive Markets
  • Government Intervention (Price Floors, Price Ceilings, and Black Markets)
  • Tax Incidence

PART 2: Markets in Action

• Externalities, Environmental Policy, and Public Goods

  • Externalities and Economic Efficiency
  • Private Solutions to Externalities (Coase Theorem)
  • Government Policies for Externalities
  • Categories of Goods (Public Goods and Common Resources)

• Elasticity: The Responsiveness of Demand and Supply

  • Price Elasticity of Demand and Supply
  • Determinants of Elasticity
  • Other Demand Elasticities (Cross-Price and Income Elasticity)

PART 3: Firms in the Domestic and International Economies

• Firms, the Stock Market, and Corporate Governance

  • Types of Firms and Corporate Structure
  • How Firms Raise Funds (Stocks and Bonds)
  • Using Financial Statements
  • Corporate Governance Policy

• Comparative Advantage and the Gains from International Trade

  • Importance of Trade to the U.S. Economy
  • Comparative Advantage in International Trade
  • Government Policies that Restrict International Trade (Tariffs, Quotas)
  • Arguments Over Trade Policies and Globalization

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