Economics 6th edition ( Principles and Applications )
Authors: Robert E Hall, Marc Lieberman
Publisher: Cengage Learning
Details of the book:
Dr. Robert E. Hall, an eminent applied economist, and Dr. Marc Lieberman, a Clinical Professor of the discipline, have come together to create a book which helps its reader understand both local and global economic occurrences. It is not only useful for students of economics but can be helpful to anyone as it guides individual to make informed economic choices on a personal level in any field. For the beginners or the non-initiated, it provides the much required foundation by lucidly explaining all the essential concepts and themes of the subject. To strengthen the foundation of the knowledge further, contemporary issues with an extensive body of examples are provided in the book.
The book contains the following:
The book starts off by laying a solid foundation of the subject for its readers. It begins with themes like Scarcity of resources and goods, Choices and demands, along with an insight in Economic Systems. Next, it moves on to fundamental issues of the subject like demand and market supply, their responsiveness in the market and elasticity. Next issues of cost, profit maximization, consumer choices, cost of production, monopoly, competition, oligopoly, perfect competition are covered. In short, the basics of microeconomics. Following which a look into the intricacies of the labour, financial as well as capital markets are given and economic efficiency is looked into. The role of government in the economic arena and profit from international trade and businesses are analyzed in this section too. The book delves further into the themes of macroeconomics like economic growth, the changing standards of living. Issues of inflation, unemployment and other economic fluctuations too come into this category. Amongst policies and institutions, this book offers critical information on banking and financial institutions and policies along with data on fiscal and monetary policies. International trade, foreign exchange and other related topics are also covered substantially.