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2007-2008 NEW Economics Titles Economics ~ Contents 2007 New Titles Advanced Macroeconomics............................................. 43 Advanced Microeconomics............................................. 44 Asian Economics............................................................. 46 Econometrics................................................................... 34 Economic Growth and Development............................... 44 Economics for Business................................................... 28 Economics Issues............................................................. 28 Environmental Economics................................................ 34 History of Economic Thought.......................................... 40 Industrial Organization.................................................... 40 Intermediate Macroeconomics......................................... 30 Intermediate Microeconomics......................................... 31 International Economics.................................................. 38 Labor Economics............................................................. 41 Managerial Economics..................................................... 32 Mathematical Economics................................................. 36 Money and Banking........................................................ 37 Principles of Economics - Software.................................. 17 Principles of Economics - Supplementary......................... 17 Principles of Economics - Textbooks................................ 11 Principles of Macroeconomics - Textbooks...................... 19 Principles of Microeconomics - Textbooks....................... 23 Public Finance................................................................. 43 Regional Economics........................................................ 45 Statistics for Economics.................................................... 46 Survey of Economics....................................................... 26 Urban Economics............................................................ 42 BALDWIN The Economics of European Integration, 2e..............45 ISBN-13: 978-0-07-711119-9 / MHID: 0-07-711119-2 [MH UK Title] BEGG Economics for Business, 2e........................................28 ISBN-13: 978-0-07-711451-0 / MHID: 0-07-711451-5 [MH UK Title] BEGG Foundations of Economics, 3e...................................27 ISBN-13: 978-0-07-711423-7 / MHID: 0-07-711423-X [MH UK Title] BRICKLEY Managerial Economics and Organizational Architecture, 4e........................................................32 ISBN-13: 978-0-07-352301-9 / MHID: 0-07-352301-1 BRUE Essentials of Economics............................................26 ISBN-13: 978-0-07-301967-3 / MHID: 0-07-301967-4 COLE Annual Editions: Economics, 34e..............................17 ISBN-13: 978-0-07-352843-4 / MHID: 0-07-352843-9 DORNBUSCH Macroeconomics, 2e..................................................30 ISBN-13: 978-0-07-471568-0 / MHID: 0-07-471568-2 [MH Australia Title] FRANK Principles of Economics...........................................14 ISBN-13: 978-0-07-710831-1 / MHID: 0-07-710831-0 [MH UK Title] FRANK Principles of Economics, 3e......................................12 ISBN-13: 978-0-07-312567-1 / MHID: 0-07-312567-9 FRANK Principles of Macroeconomics, 3e............................20 ISBN-13: 978-0-07-323061-0 / MHID: 0-07-323061-8 FRANK Principles of Microeconomics, 3e.............................23 ISBN-13: 978-0-07-323060-3 / MHID: 0-07-323060-X GUELL Issues in Economics Today, 3e....................................28 ISBN-13: 978-0-07-313752-0 / MHID: 0-07-313752-9 JACKSON Macroeconomics, 8e.................................................21 ISBN-13: 978-0-07-471698-4 / MHID: 0-07-471698-0 [MH Australia Title] O’SULLIVAN Urban Economics, 6e.................................................42 ISBN-13: 978-0-07-298476-7 / MHID: 0-07-3298476-7 PUGEL International Economics, 13e.....................................38 ISBN-13: 978-0-07-352302-6 / MHID: 0-07-352302-X 2007-2008 NEW Economics Titles 2007 New Titles RICHARD The Economics of Organizations and Strategy.........33 ISBN-13: 978-0-07-710813-7 / MHID: 0-07-710813-2 SCHILLER Essentials of Economics, 6e......................................26 ISBN-13: 978-0-07-340279-6 / MHID: 0-07-340279-6 2008 New Titles 10 BORJAS Labor Economics, 4e................................................41 ISBN-13: 978-0-07-340282-6 / MHID: 0-07-340282-6 McCONNELL Economics, 17e........................................................11 ISBN-13: 978-0-07-312663-0 / MHID: 0-07-312663-2 ROSEN Public Finance, 8e....................................................43 ISBN-13: 978-0-07-351128-3 / MHID: 0-07-351128-5 SLAVIN Economics, 8e..........................................................12 ISBN-13: 978-0-07-351127-6 / MHID: 0-07-351127-7 SLAVIN Microeconomics, 8e.................................................23 ISBN-13: 978-0-07-328147-6 / MHID: 0-07-328147-6 SLAVIN Macroeconomics, 8e................................................19 ISBN-13: 978-0-07-328148-3 / MHID: 0-07-328148-4 THOMAS Managerial Economics, 9e........................................32 ISBN-13: 978-0-07-340281-9 / MHID: 0-07-340281-8 Economics Principles of Economics - Textbooks International Edition New ECONOMICS 17th Edition By Campbell McConnell, University of Nebraska and Stanley L Brue, Pacific Lutheran University 2008 (November 2006) / 832 pages ISBN-13: 978-0-07-312663-0 / MHID: 0-07-312663-2 ISBN-13: 978-0-07-110143-1 / MHID: 0-07-110143-8 [IE] Website: http://www.mcconnell17.com McConnell and Brue’s Economics: Principles, Problems, and Policies is the leading Principles of Economics textbook because it is innovative and teaches students in a clear, unbiased way. The 17th Edition builds upon the tradition of leadership with three main goals: help the beginning student master the principles essential for understanding the economizing problem, specific economic issues, and the policy alternatives; help the student understand and apply the economic perspective and reason accurately and objectively about economic matters; and promote a lasting student interest in economics and the economy. New to this edition New Analysis of Monetary Policy: The authors have revised the discussion of monetary policy to help the student understand the Fed’s focus on the federal funds rate, and how changes in that rate affect other interest rates and the overall economy. In Chapter 14, the authors demonstrate how the Fed targets a specific federal funds rate and then uses open-market operations to drive the rate to that level and hold it there (see Figure 14.3). This new analysis will help students interpret the news as it relates to Fed announcements about federal funds rates. Technology Advantage: McGraw-Hill aims to help instructors save time and acknowledge that students study differently now. It is their goal to provide technology solutions that meet those goals. To that end, they have developed the following core set of products and services: homework management, rich course cartridges, Prep Center, iPod Content, and easy to use response system content. Assessment-Ready Learning Objectives and Testing: Each chapter begins with measurable learning objectives. These learning objectives are cross-referenced to specific test bank questions to allow construction of measurement instruments. This direct link between objectives and content facilitates now common accreditation efforts necessary to meet assurance of learning requirements. Updated Consider This Boxes: These boxes are used to provide analogies, examples, or stories that help drive home central economic ideas in a student-oriented, real-world manner. New boxes include such disparate topics as fast food lines (Chapter 1), the Fed as a sponge (Chapter 14), art for art’s sake (Chapter 28), and many more. Updated Last Word Boxes: These applications and case studies are located toward the end of each chapter. In this edition, we have included photos to pique student interest. New or relocated Last Words include those on pitfalls to sound economic reasoning (Chapter 1), the diminishing impact of oil prices on the overall economy (Chapter 10), and mandatory health insurance (Chapter 33), and many more. Updated Last Word Boxes: These applications and case studies are located toward the end of each chapter. In this edition, we have included photos to pique student interest. New or relocated Last Words include those on pitfalls to sound economic reasoning (Chapter 1), the diminishing impact of oil prices on the overall economy (Chapter 10), and mandatory health insurance (Chapter 33), and many more. Contemporary Discussions and Examples: The seventeenth edition references and discusses many current topics: the economics of the war in Iraq, China’s rapid growth rate, large Federal budget deficits, recent Fed monetary policy, the debate over inflation targeting, the productivity acceleration, the recent profit paths of Wal-Mart and General Motors, rising oil prices, Health Savings Accounts (HSAs), immigration impacts, large U.S. trade deficits, off shoring of American jobs, and many more. Features A Patient, Step-by-Step Approach: Realizing that this is the first introduction to economics for most students, the authors take a patient, step-by step approach to teaching the material. The authors explain the theory and models slowly and thoroughly. This approach is easier to follow than that of many other texts on the market which make assumptions and jump through material quickly, leaving students behind. Balanced Coverage: McConnell and Brue have stayed the number one selling text over the years because of their thorough and neutral coverage of the material—they present both sides and let instructors and students make up their own minds. Two-Path Macro: Because different teachers teach macro in different ways, the authors organized Chapters 8, 9, and 10 to provide two alternative paths through the macro. This way, instructors who focus exclusively on Aggregate Demand-Aggregate Supply Model can easily skip the Aggregate Expenditure (Keynesian) model, while those who teach both the AD/AS and AE models can do so in a logical manner. Multiple-choice “Quick Quizzes” to accompany the Key Graphs. Graphs that have special relevance are labeled “Key Graphs,” and each includes a multiple-choice quiz. These 4-question quizzes allow students to test their understanding in the multiple-choice format. Answers are provided on the page, but upside down. Extensive Glossary: Over 30 pages with 1000 entries. Internet Chapters: Two new Internet chapters, along with a fully updated preexisting web chapter covering The Economics of Developing Countries (16Web), are available for free use at our website, www. mcconnell17.com. The first of these, “Financial Economics” (Chapter 14Web), examines ideas such as compound interest, present value, arbitrage, risk, diversification, and the risk-return relationship. The second new chapter, “Resource and Energy Economics” (Chapter 27Web) is particularly timely. It covers topics such as the optimal rate of extraction, resource substitution, resource sustainability, and oil prices. Figure Legends: Legends accompanying diagrams are often in-depth self-contained analyses of the concepts. The legends are quick synopses of important ideas. They help the students understand the visual representations more fully. Consolidated Chapters: With overwhelming support of reviewers, the authors have consolidated the first two chapters of the prior edition into a single chapter, “Limits, Alternatives, and Choices” (Chapter 1). This new chapter quickly and directly moves the student into the subject matter of economics, demonstrating its methodology. We also combined the prior edition’s separate chapters on fiscal policy and the public debt into single chapter, “Fiscal Policy, Deficits, and Debt” (Chapter 11). The topics are closely related, and consolidation integrates them into a smooth flow. Quick Review Boxes: 3-4 mini lists interspersed in each chapter used to review content. Students get a chance to review what they’ve read and as a result, retain more. Study Questions: 10-12 questions follow every chapter, one of which refers to the Last Word Essay; several of the questions are designated “key questions”, are cited in the body of text, and answered at the book’s end. 11 Economics New ECONOMICS 8th Edition By Stephen Slavin, Union College 2008 (August 2006) / 832 pages ISBN-13: 978-0-07-351127-6 / MHID: 0-07-351127-7 Website: http://www.mhhe.com/slavin8e Steve Slavin’s lively and comprehensive Economics has a student-friendly, step-by-step approach; value pricing; and a built-in Workbook/Study Guide. Instructors and students like the author’s humorous anecdotes, direct language, and easy conversational style. The text encourages active rather than passive reading. New to this edition A Chapter Issues section at the end of each chapter gives practical application to at least one of the concepts covered in the chapter. Issues discussed include “The Internet Effect: A more perfect knowledge and lower prices,” in Chapter 21 and “Will Social Security be there for you?” in Chapter 30. New discussions have been added to provide yet more practical application to the overall text, including a “Sports Strikes and Lockouts” box in Ch. 27 and “A College Degree Is the Ticket Out of Poverty” box in Ch. 28. The discussion of comparative advantage in Chapter 31 has been written for simplicity and clarity, making it easier for students to learn. Features Value Price: Slavin’s low price continues to make it one of the best values on the market. It’s approximately $25 less than other principles texts. Fun Writing Style: The author’s humorous writing style and historical approach to economics are a hit with students who might otherwise find the subject dry or intimidating. Steve Slavin is an experienced and respected author--in addition to having over 30 years experience teaching the principles course, he has written 11 other math and economics books. Streamlined Text: The streamlined basis of the text has been retained from the previous version, and the more obscure passages have been simplified. Special In-Text Boxes: Dozens of self-help boxes anticipate and answer frequently asked questions. The book reviews math that students should have learned before college. The better prepared students can skip this material, but this review enables all students to start on a level playing field in the course. Many advanced work boxes provide more challenging material, giving adventurous students an opportunity to learn and master difficult material. This optional material can be easily skipped by instructors. CONTENTS 1 A brief economic history of the united states. 2 Resource utilization. 3 Supply and demand. 4 The mixed economy. The household-consumption sector. 6 The business-investment sector. 7 The government sector. 8 The export-import sector. 9 Gross domestic product. 10 Economic fluctuations, unemployment, and inflation. 11 Classical and keynesian economics. 12 Fiscal policy and the national debt. 13 Money and banking. 14 The federal reserve and monetary policy. 15 A century of economic theory. 16 Economic growth and productivity. 17 Demand, supply, and equilibrium. 18 The elasticities of demand and supply. 19 The theory of consumer behavior. 20 Cost. 21 Profit, loss, and perfect competition. 22 Monopoly. 23 Monopolistic competition. 24 Oligopoly. 25 Corporate mergers and antitrust. 26 Demand in the factor market. 27 Labor unions. 28 Labor markets and wage rates. 29 Rent, interest, and profit. 30 Income distribution and poverty. 31 International trade. 32 International finance. 12 International Edition New PRINCIPLES OF ECONOMICS 3rd Edition By Robert H. Frank, Cornell University-Ithaca and Ben Bernanke, Princeton University 2007 (December 2005) / 896 pages ISBN-13: 978-0-07-312567-1 / MHID: 0-07-312567-9 ISBN-13: 978-0-07-323059-7 / MHID: 0-07-323059-6 (with DiscoverEcon Code Card) ISBN-13: 978-0-07-110815-7 / MHID: 0-07-110815-7 [IE with Discover Econ Code Card] Website: http://www.mhhe.com/economics/frankbernanke3 In recent years, innovative texts in mathematics, science, foreign languages, and other fields have achieved dramatic pedagogical gains by abandoning the traditional encyclopedic approach in favor of attempting to teach a short list of core principles in depth. Two well-respected writers and researchers, Bob Frank and Ben Bernanke, have shown that the less-is-more approach affords similar gains in introductory economics. Although recent editions of a few other texts have paid lip service to this new approach, Frank/Bernanke is by far the best thought out and best executed principles text in this mold. Avoiding excessive reliance on formal mathematical derivations, it presents concepts intuitively through examples drawn from familiar contexts. The authors introduce a well-articulated short list of core principles and reinforcing them by illustrating and applying each in numerous contexts. Students are periodically asked to apply these principles to answer related questions and exercises. The text also encourages students to become “Economic Naturalists,” people who employ basic economic principles to understand and explain what they observe in the world around them. An economic naturalist understands, for example, that infant safety seats are required in cars but not in airplanes because the marginal cost of space to accommodate these seats is typically zero in cars but often hundreds of dollars in airplanes. Such examples engage student interest while teaching them to see each feature of their economic landscape as the reflection of an implicit or explicit cost-benefit calculation. NEW TO THIS EDITION “Incentives matter” is a new core principle: If we asked a thousand economists to provide their own versions of the most important economic principles, we’d get a thousand different lists. Yet to dwell on their differences would be to miss their essential similarities. It is less important to have exactly the best short list of principles than it is to use some well-thought-out list of this sort. New to our short list is the “incentives matter” principle, which we added to emphasize that costbenefit comparisons are relevant not only for identifying the decisions that rational people should make, but also for predicting the actual decisions they do make across numerous diverse domains. International trade chapter moved forward: Because the topic is so important, the chapter on international trade (Chapter 16 in our Second Edition) has been moved forward to appear at the end of the Part 2 (Competition and the Invisible Hand). This chapter (now Chapter 9) has been extensively rewritten to incorporate explicit analysis of how producer and consumer surplus are affected by trade and by policies such as tariffs and quotas. A new section addresses the question of which jobs are most vulnerable to outsourcing. More emphasis on monopolistic competition and oligopoly: In our Second Edition, the chapter on imperfect competition (Chapter 9 in that edition) briefly defined the three forms of imperfect competition and then focused exclusively on pure monopoly. In this edition, we have added more detailed descriptive accounts of monopolistic competition and oligopoly to this chapter (now Chapter 10). We have also added numerous additional examples involving these industry structures in the succeeding chapter on strategic choice (now Chapter 11). Economics Added material on indifference curves: In our second edition, we offered an appendix on the indifference curve approach to the consumer choice problem on the text web site. But because a number of reviewers felt strongly that this material should me more accessible for those who want to use it, we’ve added it an extensively revised appendix to Chapter 5. This topic can be skipped at no compromise to the material in the succeeding chapters. Algebra appendixes added: To the basic review of the algebra and geometry of straight lines presented in the mathematical appendix to Chapter 1, we have added a basic primer on how to solve simple systems of two equations with two unknowns. In this edition, the treatment of supply and demand in the main text is carried out exclusively in verbal and graphical terms. But we have added an appendix to Chapter 3 that presents an algebraic treatment of supply and demand. We have also added a brief appendix to Chapter 10 showing how monopoly profit maximization can be treated in an algebraic framework. Additional Economic Naturalist drawings: For reasons best explained by educational psychologists, illustrations can be an enormously effective pedagogical tool, in part because of their ability to trigger rich networks of cognitive association. To exploit this tool more effectively, we commissioned line drawings by the renowned New Yorker cartoonist Mick Stevens and other artists to accompany many of the economic naturalist examples. For this edition, all of the economic naturalist examples are accompanied by such drawings. for this acceleration. Updated Discussion of Saving and Investment: In addition to emphasizing the importance of public and private saving and the relationship between the budget deficit, national saving, and capital flows, we discuss the recently divergent trends in business and household saving. Modern Macroeconomics: Recent developments have renewed interest in cyclical fluctuations while still paying attention to such long-run issues as growth, productivity, the evolution of real wages, and capital formation. Thus, we offer the following organization: A 5-chapter treatment of long-run issues prior to an analysis of short-run fluctuations followed by a modern treatment of short-term fluctuations and stabilization policy, emphasizing the important distinction between short- and long-run behavior of the economy. Consistent with both media reporting and recent research on the central bank reaction function, we treat the interest rate rather than the money supply as the instrument of Fed policy. The analysis of aggregate demand and aggregate supply relates output to inflation, rather than to the price level, sidestepping the necessity of a separate derivation of the link between the output gap and inflation. This book places a heavy emphasis on globalization, starting with an analysis of its effects on real wage inequality and progressing to such issues as the benefits of trade, the causes and effects of protectionism, the role of capital flows in domestic capital formation, the link between exchange rates and monetary policy, and the sources of speculative attacks on currencies. Expanded Discussion of Macroeconomic Policy: The revised monetary policy reaction function we introduce in Chapter 27 is a more realistic description of how the Fed actually conducts monetary policy and clarifies the Taylor rule. In Chapter 28 we use this policy reaction function to help students distinguish between a move along the aggregate demand curve and a shift in the aggregate demand curve resulting from a change in monetary policy. Features In a new Chapter 29, we provide a more complete analysis of the interaction between fiscal and monetary policy, illustrating the crucial role of the central bank in any long-run inflation. We also discuss how enhanced credibility can help to anchor inflationary expectations and explain the contributions of central bank independence, inflation targeting, and central bank reputation. In the last section of Chapter 29 we expand our discussion of the real-world difficulties in conducting macroeconomic policy. Economic Naturalism Introduced: The authors’ ultimate goal is to produce “economic naturalists” –people who see each human action as the result of an implicit or explicit cost-benefit calculation. The economic naturalist sees mundane details of ordinary existence in a new light and becomes actively engaged in the attempt to understand them. Why don’t auto manufacturers make cars without heaters? Why are whales, but not chickens, threatened with extinction? Why do movie theaters give student discounts on the price of admission but not on the price of popcorn? More Patient Presentation of Models: In Chapter 26 we explain the effects of tax cuts on planned aggregate expenditure more carefully. In an optional box we also solve a simple Keynesian model, leaving the full model in the appendix, as in the second edition. In the diagrams in Chapter 28 we include the transitional short-run aggregate supply lines to illustrate how the short-run aggregate supply line shifts when actual output deviates from potential output. Expanded Discussion of Supply-Side Economics: Most economists agree that changes in marginal tax rates can affect both aggregate demand and aggregate supply, but they disagree on the size of the effects. In Chapter 28 we describe this controversy in greater detail and present both the theoretical and empirical evidence of the effects of changes in marginal tax rates on aggregate supply. Greater Attention to Asset Prices: In Chapter 21 we provide a clearer explanation of the inverse relationship between bond prices and interest rates. We also discuss the effects of changes in asset prices (especially stocks and houses) on aggregate demand. Simpler Presentation of Exchange Rates: We use supply and demand curves to illustrate the determination of nominal exchange rates before we introduce the real exchange rate and purchasing-power-parity. Additional Material on China: At its current rate of growth the Chinese economy may become the largest economy in the world within the next generation. In this edition we expand our discussion of China in the world economy. We discuss the determinants of its success and its management of its exchange rate. New Material on the Acceleration of Productivity Growth: The productivity slowdown of 1973-1995 has been followed by surprisingly strong productivity growth. We present and discuss the reasons An Emphasis on Core Principles: A few core principles do most of the work in economics. By focusing on these principles, the text assures that students leave the course with a deep mastery of them. In contrast, traditional encyclopedic texts so overwhelm students with detail that they often leave the course with little useful working knowledge at all. Active Learning Stressed: The only way to lean to hit an overhead smash in tennis or to speak a foreign language is through repeated practice. The same is true for learning economics. Thus, the authors consistently introduce new ideas in the context of simple examples and then follow them with applications showing how they work in familiar settings. And frequently, the text poses exercises that both test and reinforce the understanding of these ideas. The end-of-chapter questions and problems are carefully crafted to help students internalize and extend core concepts. Students are prepared to apply the important concepts to solve “economic riddles” drawn from the real world. Well-Known Authors: Robert Frank and Ben Bernanke are renowned experts in their fields (micro and macro, respectively). Frank’s research has looked at rivalry and cooperation in economic and social behavior. He is the author of a best-selling intermediate economics text, Microeconomics and Behavior, (McGraw-Hill/Irwin), and has published such award-winning books as The Winner-Take-All-Society and Luxury Fever. Bernanke is the co-author of a best-selling intermediate macroeconomics text and has done significant research on the causes of the Great Depression, the role of financial markets and institutions in the business cycle, and measuring the effects of monetary policy on the economy. He was a member of the Federal Reserve Board of Governors for more than two years and is now the Chairman of the President’s Council of Economic Advisers. Modern Microeconomics: Economic surplus, introduced in Chapter 1 and applied repeatedly thereafter, is more fully developed here than in any other text. This concept underlies the argument for economic efficiency as an important social goal. Rather than speak of tradeoffs between efficiency and other goals, the authors stress that maximizing economic surplus facilitates the achievement of all goals. The tendency to ignore opportunity costs, the tendency not to ignore sunk costs, and 13 Economics the tendency to confuse average and marginal costs and benefits—common decision pitfalls identified by 2002 Nobel Laureate Daniel Kahneman and others—are introduced early in Chapter 1. The book devotes a chapter to the economics of information, making available in intuitively accessible form key insights that earned the 2001 Nobel Prize in economics for George Akerlof, Joseph Stiglitz, and Michael Spence. Web site: Developed by Scott Simkins of North Carolina A & T State University, an expert in the growing field of Economics education on the World Wide Web, the ambitious web site contains a host of features that will enhance the principles classroom, including dynamic graphs, video lectures, e-mail updates, microeconomic experiments, current news articles, information about the text, an eLearning session, and more. CONTENTS Part 1 Introduction. 1. Thinking Like an Economist. 2. Comparative Advantage: The Basis for Exchange. 3. Supply and Demand: An Introduction. Part 2 Competition and the Invisible Hand. 4. Elasticity. 5. Demand: The Benefit Side of the Market. 6. Perfectly Competitive Supply: The Cost Side of the Market. 7. Efficiency and Exchange. 8. The Quest for Profit and the Invisible Hand. 9. International Trade. Part 3 Market Imperfections. 10. Monopoly and Other Forms of Imperfect Competition. 11. Thinking Strategically: A Further Look at Monopolistic Competition and Oligopoly. 12. Externalities and Property Rights. 13. The Economics of Information. Part 4 Economics of Public Policy. 14. Labor Markets, Poverty, and Income Distribution. 15. The Environment, Health, and Safety. 16. Public Goods and Tax Policy. Part 5 Macroeconomics: Issues and Data. 17. Macroeconomics: The Bird’sEye View of the Economy . 18. Measuring Economic Activity: GDP and Unemployment. 19. Measuring the Price Level and Inflation. Part 6 The Economy in the Long Run. 20. Economic Growth, Productivity, and Living Standards. 21. Workers, Wages, and Unemployment in the Modern Economy. 22. Saving and Capital Formation. 23. Money and the Federal Reserve. 24. Financial Markets and International Capital Flow. Part 7 The Economy in the Short Run. 25. Short-term Economic Fluctuations: An Introduction. 26. Spending Output in the Short Run. 27. Stabilizing the Economy: The Role of the Fed. 28. Inflation, Aggregate Supply, and Aggregate Demand. 29. The Practice and Pitfalls of Macroeconomic Policy. Part 8 The International Economy. 30. Exchange Rates and the Open Economy Policy Chapter 3: The Evolving U.S. Economy in Perspective Chapter 4: Supply and Demand Chapter 5: Using Supply and Demand II: Microeconomics I: Microeconomics: The Basics Chapter 6: Describing Supply and Demand: Elasticities Chapter 7: Taxation and Government Intervention II: Foundations of Supply and Demand Chapter 8: The Logic of Individual Choice: The Foundation of Supply and Demand Chapter 9: Production and Cost Analysis I Chapter 10: Production and Cost Analysis II III: Market Structure and Policy Chapter 11: Perfect Competition Chapter 12: Monopoly Chapter 13: Monopolistic Competition, Oligopoly, and Strategic Pricing Chapter 14: Real-World Competition and Technology Chapter 15: Antitrust Policy and Regulation IV: Factor Markets Chapter 16: Work and the Labor Market Chapter 17: Who Gets What? The Distribution of Income V: Applying Economic Reasoning to Policy Chapter 18: Government Policy and Market Failures Chapter 19: Politics and Economics: The Case of Agriculture Markets Chapter 20: Microeconomic Policy, Economic Reasoning, and Beyond Chapter 21: International Trade Policy, Comparative Advantage, and Outsourcing III: Macroeconomics I: Macroeconomic Problems Chapter 22: Economic Growth, Business Cycles, Unemployment, and Inflation Chapter 23: National Income Accounting II: The Macroeconomic Framework Chapter 24: Growth, Productivity, and the Wealth of Nations Chapter 25: Aggregate Demand, Aggregate Supply, and Modern Macroeconomics Chapter 26: The Multiplier Model III: Money, Inflation, and Monetary Policy Chapter 27: Money, Banking, and the Financial Sector Chapter 28: Monetary Policy and the Debate about Macro Policy Chapter 29: Inflation and Its Relationship to Unemployment and Growth IV: Macro Policy in Perspective Chapter 30: Aggregate Demand Policy in Perspective Chapter 31: Politics, Deficits,and Debt Chapter 32: Macro Policies in Developing Countries V: International Policy Issues Chapter 33: International Financial Policy Chapter 34: Macro Policy in a Global Setting New PRINCIPLES OF ECONOMICS By Robert Frank, Cornell University, Moore McDowell and Rodney Thom of University College Dublin and Ben Bernanke, Princeton University 2006 (March 2006) / 912 pages ISBN-13: 978-0-07-710831-1 / MHID: 0-07-710831-0 McGraw-Hill UK Title International Edition ECONOMICS 6th Edition By David C Colander, Middlebury College 2006 / 936 pages ISBN-13: 978-0-07-297883-4 / MHID: 0-07-297883-X ISBN-13: 978-0-07-322297-4 / MHID: 0-07-322297-6 (with Paul Solman Videos Code Card) ISBN-13: 978-0-07-111569-8 / MHID: 0-07-111569-2 [IE] ISBN-13: 978-0-07-110611-5 / MHID: 0-07-110611-1 [IE with DiscoverEcon and Paul Solman Video Code Card] Principles of Economics, European Edition, develops the well regarded US textbook by Frank and Bernanke to reflect the issues and context of economics in Europe. The book presents concepts intuitively through examples drawn from familiar contexts. It relies throughout on a well articulated shortlist of 12 core principles which are reinforced by real-world examples. Review questions, exercises and problems encourage students to apply these principles in a variety of contexts. The text encourages students to become “economic naturalists”, people who employ basic economic principles to understand and explain what they observe in the world around them. The “economic naturalist” approach helps students develop concepts and illustrates their applications in a real world setting. Website: http://www.mhhe.com/economics/colander6 Features Written in an informal colloquial style, this student-friendly Principles of Economics textbook does not sacrifice intellectual depth in its quest for accessibility. The author’s primary concern is to instill “economic sensibility” in the student. Colander emphasizes the intellectual and historical context to which the economic models are applied. This new edition offers improvements to this established and respected text including special Questions from Alternate Perspectives end-of-chapter questions that facilitate class discussion of differing views of thought in the discipline, and access to over 250 minutes of new videos from Paul Solman of the Lehrer NewsHour. European content throughout, including a new chapter on the economics of the European Union and an extended chapter on oligopoly theory within the microeconomics section Contents I: Introduction: Thinking Like An Economist Chapter 1: Economics and Economic Reasoning Chapter 2: Trade, Trade-off’s and Government 14 A revised and expanded macroeconomics section, addressing key issues within a European context Advanced technical analysis in appendices to demonstrate elements of working with equations, supply, and the Keynesian model Up-to-date European Economic Naturalist examples that place economics in a relevant and contemporary context Core Principles emphasised throughout the text to reinforce key ideas Economics An Active Learning Approach, with exercises, review questions and problems included in every chapter, to encourage students to apply their knowledge as they work through the topics CONTENTS Preface. PART 1: Introduction. 1 Thinking Like an Economist. Appendix A: Working with Equations, Graphs and Tables. Appendix B: Elements of Calculus for use in Economics. 2 Comparative Advantage: The Basis for Exchange. 3 Supply and Demand: An Introduction. PART 2: Competition and the Invisible Hand. 4 Elasticity. 5 Demand: The Benefit Side of the Market. 6 Perfectly Competitive Supply: The Cost Side of the Market. Appendix: Supply. 7 Efficiency and Exchange. 8 The Quest for Profit and the Invisible Hand. PART 3: Market Imperfections. 9 Imperfect Competition and Consequences of Market Power. 10 Thinking Strategically: Competition among the Few. 11 Externalities and Property Rights: External Costs and Benefits. 12 The Economics of Information. PART 4: Government in the Economy: Distribution, Regulation and the Provision of Public Goods. 13 Labour Markets, Income Distribution, Wealth and Poverty. 14 Government in the Market Economy: Regulation and Production of Public Goods and Other Services. PART 5: Trade and Integration. 16 Trade, Factor Flows and Economic Integration: The Basic Economics of the European Union. PART 6: Macroeconomics: Issues and Data. 17 Macroeconomics: The Bird’s-Eye View of the Economy. 18 Measuring Economic Activity: GDP and Unemployment. 19 Measuring the Price Level and Inflation. PART 7: The Economy in the Long Run. 20 Economic Growth, Productivity, and Living Standards. 21 Workers, Wages, and Unemployment in the Modern Economy. 22 Saving and Capital Formation. 23 Money, Prices, and the European Central Bank. 24 Financial Markets and International Capital Flows. PART 8: The Economy in the Short Run. 25 Short-Term Economic Fluctuations. Appendix: The Multiplier in the Basic Keynesian Model. 26 Stabilising the Economy: The Role of Fiscal Policy. 27 Stabilizing the Economy: The Role of Monetary Policy. Appendix: Monetary Policy in the Basic Keynesian Model. 28 Inflation and Aggregate Supply. Appendix: The Algebra of Aggregate Demand and Aggregate Supply. PART 9: The International Economy. 29 Exchange Rates and the Open Economy. 30 Monetary Union: The Theory of Optimum Currency Areas Contents Part 1 BASIC CONCEPTS Chapter 1 Economics: The Core Issues Appendix: Using Graphs Chapter 2 The U.S. Economy: A Global View Chapter 3 Supply and Demand Chapter 4 The Public Sector Part 2 MEASURING MACRO OUTCOMES Chapter 5 National-Income Accounting Chapter 6 Unemployment Chapter 7 Inflation Part 3 CYCLICAL INSTABILITY Chapter 8 The Business Cycle Chapter 9 Aggregate Demand Appendix: The Keynesian Cross Chapter 10 Self-Adjustment or Instability? Part 4 FISCAL POLICY LEVERS Chapter 11 Fiscal Policy Chapter 12 Deficits, Surpluses, and Debts Part 5 MONETARY POLICY OPTIONS Chapter 13 Money and Banks Chapter 14 The Federal Reserve System Chapter 15 Monetary Policy Part 6 SUPPLY-SIDE OPTIONS Chapter 16 Supply-Side Policy: Short-Run Options Chapter 17 Growth and Productivity: Long-Run Possibilities Part 7 POLICY CONSTRAINTS Chapter 18 Global Macro Chapter 19 Theory and Reality Part 8 PRODUCT MARKETS: THE BASICS Chapter 20 The Demand for Goods Appendix: Indifference Curves Chapter 21: The Costs of Production Part 9 MARKET STRUCTURE Chapter 22 The Competitive Firm Chapter 23 Competitive Markets Chapter 24 Monopoly Chapter 25 Oligopoly Chapter 26 Monopolistic Competition Part 10 REGULATORY ISSUES Chapter 27 (De)Regulation of Business Chapter 28 Environmental Protection Chapter 29 The Farm Problem Part 11 FACTOR MARKETS: BASIC THEORY Chapter 30 The Labor Market Chapter 31 Labor Unions Chapter 32 Financial Markets Part 12 DISTRIBUTIONAL ISSUES Chapter 33 Taxes: Equity vs. Efficiency Chapter 34 Transfer Payments: Welfare and Social Security Part 13 INTERNATIONAL ECONOMICS Chapter 35 International Trade Chapter 36 International Finance / Glossary / Index / Student Problem Sets ECONOMICS 8th Edition By David Begg, Birkbeck College, London, Stanley Fischer, International Monetary Fund and Rudiger Dornbusch of Massachusetts Institute of Technology 2005 / 560 pages ISBN-13: 978-0-07-710775-8 / MHID: 0-07-710775-6 McGraw-Hill UK Title International Edition THE ECONOMY TODAY 10th Edition By Bradley R. Schiller, American University 2006 / 912 pages ISBN-13: 978-0-07-297911-4 / MHID: 0-07-297911-9 ISBN-13: 978-0-07-313775-9 / MHID: 0-07-313775-8 (with DiscoverEcon with Paul Solman Videos) ISBN-13: 978-0-07-111790-6 / MHID: 0-07-111790-3 [IE with DiscoverEcon with Paul Solman Videos] Website: http://www.mhhe.com/economics/schiller10 Brad Schiller’s text, The Economy Today, 10/e, is noted for three great strengths: readability, policy orientation, and pedagogy. His accessible writing style engages students and brings some of the excitement of domestic and global economic news into the classroom. Schiller emphasizes how policymakers must choose between government intervention and market reliance to resolve the core issues of what, how, and for whom to produce. This strategic choice is highlighted throughout the full range of micro, macro, and international issues. Every chapter ends with a policy issue that emphasizes the markets vs. government dilemma. And Schiller packs his chapters with the facts of economic life—real stories and applications, not fables. This is a book that teaches economics in a relevant context with careful pedagogy. It is also the only principles text that presents all macro theory in the single consistent context of the AS/AD framework. Schiller 10e is for students motivated by real-world policy issues who want to become economically literate. This is a book students actually READ. Schiller is also known for its cutting-edge and current coverage of today’s issues. Website: www.mcgraw-hill/textbooks/begg Begg, Fischer and Dornbusch, Economics, is the definitive economics textbook. The new edition of the best selling “student bible” aims to teach students how economics really works in the world today. The new edition continues to engage with the latest theoretical developments in economics. With a host of new boxes, data, and examples throughout, the new revision brings economics right up-to-date. Careful revisions to key topics and explanations also help to ensure the new edition retains its relevance to contemporary teaching in economics. A brand new feature of this edition is free access to Power Web, an online database of refereed articles, news stories and features about economics topics, kept right up-to-date with daily news feeds. Accompanied by a fantastic range of extra resources for students and lecturers, the new edition provides the complete package of materials for students of economics and their lecturers. CONTENTS Part One: Introduction / 1. Economics and the economy / 2. Tools of economic analysis / 3. Demand, supply, and the market / 4. Elasticities of demand and supply / Part Two: Microeconomics / 5. Consumer choice and demand decisions / 6. Introducing supply decisions / 7. Costs and supply / 8. Perfect competition and pure monopoly / 9. Market structure and imperfect competition / 10. The labour market / 11. Different types of labour / 12. Factor markets and income distribution / 13. Risk and information / 14. The information economy / Part Three: Welfare Economics / 15. Welfare economics / 16. Government spending and revenue / 17. Industrial policy and competition policy / 18. Natural monopoly: public or private? / Part Four: Macroeconomics / 19: Intro to macroeconomics / 20: Output and aggregate demand / 21: Fiscal policy and foreign trade / 22. Money and Banking / 23. Interest rates and monetary transmission / 24. Monetary and fiscal policy / 25. Aggregate supply, prices and the adjustment to shocks / 26. Inflation, 15 Economics expectations, and credibility / 27. Unemployment / 28. Exchange rates and the balance of payments / 29: Open economy macroeconomics / 30. Economic Growth / 31. Business cycles / 32. Macroeconomics: taking stock / Part Five: The World Economy / 33: International trade / 34: Exchange rate regimes / 35: European integration / 36: Less developed countries International Edition ECONOMICS 18th Edition By Paul A Samuelson, Massachusetts Institute of Technology and William D Nordhaus, Yale University 2005 / 832 pages ISBN-13: 978-0-07-287208-7 / MHID: 0-07-287205-5 ISBN-13: 978-0-07-123932-5 / MHID: 0-07-123932-4 [IE] International Edition ECONOMICS 16th Edition By Campbell R. McConnell, University of Nebraska, Emeritus and Stanley L. Brue, Pacific Lutheran University 2005 ISBN-13: 978-0-07-298271-8 / MHID: 0-07-298271-3 (with Discover Econ Online and Paul Solman Videos) ISBN-13: 978-0-07-124914-0 / MHID: 0-07-124914-1 [IE] Website: http://www.mcconnell16.com McConnell-Brue’s Principles of Economics, 16e is the best-selling Principles of Economics textbook and has been teaching students in a clear, unbiased way for 40 years. The 15th edition grew market share because of its clear and careful treatment of principles of economics concepts, its balanced coverage, and its patient explanations. More students have learned their principles of Economics from McConnell-Brue than any other text; 12 million of them. The 16th edition is a revision that delivers a tight and modern book. We are also please to introduce an exciting fully-integrated software system called DiscoverEcon featuring Paul Solman: DiscoverEcon software, brand-new videos that teach economic concepts in a fun and engaging way, and more, all in one convenient software package. CONTENTS Part One: An Introduction to Economics and the Economy 1 The Nature and Method of Economics 2 The Economizing Problem 3 Individual Markets: Demand and Supply 3Web Applications and Extension of Supply and Demand Analysis [Internet only chapter] 4 The Market System 5 The U.S. Economy: Private and Public Sectors 6 The United States in the Global Economy Part Two: Macroeconomic Measurement and Basic Concepts 7 Measuring Domestic Output and National Income 8 Introduction to Economic Growth and Instability 9 Basic Macroeconomic Relationships Part Three: Macroeconomic Models and Fiscal Policy 10 The Aggregate Expenditures Model 11 Aggregate Demand and Aggregate Supply 12 Fiscal Policy Part Four: Money, Banking, and Monetary Policy 13 Money and Banking 14 How Banks and Thrifts Create Money 15 Monetary Policy Part Five: Long-Run Perspectives and Macroeconomic Debates 16 Extending the Analysis of Aggregate Supply 17 Economic Growth 18 Deficits, Surpluses, and the Public Debt 19 Disputes over Macro Theory and Policy Part Six: Microeconomics of Product Markets 20 Elasticity of Demand and Supply 21 Consumer Behavior and Utility Maximization 22 The Costs of Production 23 Pure Competition 24 Pure Monopoly 25 Monopolistic Competition and Oligopoly 26 Technology, R&D, and Efficiency Part Seven: Microeconomics of Resource Markets 27 The Demand for Resources 28 Wage Determination 29 Rent, Interest, and Profit Part Eight: Microeconomics of Government 30 Government and Market Failure 31 Public Choice Theory and the Economics of Taxation Part Nine: Microeconomic Issues and Policies 32 Antitrust Policy and Regulation 33 Agriculture: Economics and Policy 34 Income Inequality and Poverty 35 Labor Market Institutions and Issues: Unionism, Discrimination, Immigration 36 Labor Market institutions and Issues Part Ten: International Economics and the World Economy 37 International Trade 38 Exchange Rates, the Balance of Payments, and Trade Deficits 39 Web The Economics of Developing Countries [Internet only chapter] 40Web Transition Economies: Russia and China [Internet only chapter] 16 Website: http://www.mhhe.com/www.mhhe.com/economics/ samuelson18e Samuelson’s text was first published in 1948, and it immediately became the authority for the principles of economics courses. The book continues to be the standard-bearer for principles courses, and this revision continues to be a clear, accurate, and interesting introduction to modern economics principles. Bill Nordhaus is now the primary author of this text, and he has revised the book to be as current and relevant as ever. contents Part One: Basic Concepts 1 The Fundamentals of Economics Appendix 1 How to Read Graphs 2 Markets and Government in a Modern Economy 3 Basic Elements of Supply and Demand Part Two: Microeconomics: Supply, Demand, and Product Markets 4 Applications of Supply and Demand 5 Demand and Consumer Behavior Appendix 5 Geometrical Analysis of Consumer Equilibrium 6 Production and Business Organization 7 Analysis of Costs Appendix 7 Production, Cost Theory, and Decision of the Firm 8 Analysis of Perfectly Competitive Markets 9 Competition and Its Polar Case of Monopoly 10 Oligopoly and Monopolistic Competition 11 Uncertainty and Game Theory Part Three: Factor Markets: Labor, Land, and Capital 12 How Markets Determine Incomes 13 The Labor Market 14 Land and Capital Appendix 14 Markets and Economic Efficiency Part Four: Applied Microeconomics: International Trade, Government, and the Environment 15 Comparative Advantage and Protectionism 16 Government Taxation and Expenditure 17 Promoting More Efficient Markets 18 Protecting the Environment 19 Efficiency vs. Equality: The Big Tradeoff Part Five: Macroeconomics: Economic Growth and Business Cycles 20 Overview of Macroeconomics Appendix 20 Macroeconomic Data 21 Measuring Economic Activity 22 Consumption and Investment 23 Business Fluctuations and the Theory of Aggregate Demand 24 The Multiplier Model 25 Money, Banking, and Financial Markets 26 Central Banking and Monetary Policy Part Six: Economic Growth and Macroeconomic Policy 27 The Process of Economic Growth 28 The Challenge of Economic Development 29 Exchange Rates and the International Financial System 30 Open-Economy Macroeconomics Part Seven: Unemployment, Inflation, and Economic Policy 31 Unemployment and the Foundations of Aggregate Supply 32 Ensuring Price Stability 33 The Warring Schools of Macroeconomics 34 Policies for Growth and Stability COMPLIMENTARY COPIES Complimentary desk copies are available for course adoption only. Kindly contact your local McGraw-Hill Representative or fax the Examination Copy Request Form available on the back pages of this catalog. Visit McGraw-Hill Education Website: www.mheducation.com Economics Principles of Economics - Software International Edition THE POWER OF MACROECONOMICS CD-ROM By Peter Navarro, University of California - Irvine 2000 ISBN-13: 978-0-07-238087-3 / MHID: 0-07-238087-X (Out of Print) ISBN-13: 978-0-07-118311-6 / MHID: 0-07-118311-6 [IE] Website: www. powerofeconomic.com CONTENTS Lecture 1. An Overview of Modern Macroeconomics Lecture 2. The Aggregate Supply - Aggregate Demand Model and the Classic-Keynesian Debate Lecture 3. The Keynesian Model and Fiscal Policy Lecture 4. The Federal Reserve and Monetary Policy Lecture 5. Unemployment, Inflation, and Stagflation Lecture 6. The Warring Schools of Macroeconomics Lecture 7. Economic Growth and Productivity Lecture 8. Budget Deficits and the Public Debt Lecture 9. International Trade and Protectionism Lecture 10. Exchange Rates, the Balance of Payments, and Trade Deficits Lecture 11. The Economics of Developing Countries and Transition Economies International Edition THE POWER OF MICROECONOMICS CD-ROM By Peter Navarro, University of California - Irvine 2000 ISBN-13: 978-0-07-228314-3 / MHID: 0-07-228314-9 (Out of Print) ISBN-13: 978-0-07-116621-8 / MHID: 0-07-116621-1 [IE] Website: www.powerofeconomics.com CONTENTS 1. An Introduction to Macroeconomics 2. Supply, Demand, and Equilibrium 3. Demand and Consumer Behavior 4. Supply and Production Theory 5. Perfect Competition 6. Monopoly and Monopolistic Competition 7. Oligopoly and Strategic Behavior 8. Land and Rent 9. The Labor Market and Wage Determination 10. The Capital Market, Interest, and Profit 11. Income and Wealth, Poverty and Discrimination 12. Public Goods and Externalities 13. Government Taxation and Expenditures and Public Choice Theory 14. International Trade and Protectionism Principles of Economics – Supplementary New ANNUAL EDITIONS: ECONOMICS 34rd Edition By Don Cole, Drew University 2007 (October 2006) / 240 pages ISBN-13: 978-0-07-352843-4 / MHID: 0-07-352843-9 McGraw-Hill Duskin Title Website: http://www.mhhe.com/text-data-catalog/0073528439.mhtml This thirty-fourth of ANNUAL EDITIONS: ECONOMICS provides convenient, inexpensive access to current articles selected from the best of the public press. Organizational features include: an annotated listing of selected World Wide Web sites; an annotated table of contents; a topic guide; a general introduction; brief overviews for each section; a topical index; and an instructor’s resource guide with testing materials. USING ANNUAL EDITIONS IN THE CLASSROOM is offered as a practical guide for instructors. ANNUAL EDITIONS titles are supported by our student website, www.mhcls.com/online. economics is everywhere 2nd Edition By Daniel S. Hamermesh, University of Texas at Austin 2006 / 264 pages ISBN-13: 978-0-07-298260-2 / MHID: 0-07-298260-8 The purpose of Economics Is Everywhere by Daniel S. Hamermesh is to illustrate the wide range of daily activities to which an economic way of thinking can be applied. The 400 vignettes were inspired by news stories, television shows, movies, music, family events, and other facets of daily life. Some vignettes were suggested by students or colleagues. The book is organized into three parts to follow the topical arrangement of a typical introductory microeconomic textbook. These vignettes apply what students learn in their introductory microeconomics textbook. They focus on the student’s ability to apply formal analysis with myriad of examples that come out of their daily activities. After studying this applications/issues book, students will be able to read a newspaper or magazine and understand their own daily activities in a new, economic way—and as a result, understand the economics at work around them. CONTENTS INVITATION TO PUBLISH McGraw-Hill is interested in reviewing manuscript for publication. Please contact your local McGraw-Hill office or email to [email protected] Visit McGraw-Hill Education (Asia) Website: www.mcgraw-hill.com.sg Introduction. Thinking About Economics Everywhere / Part I. TradeOffs, Demand and Supply, and the Consumer Chapter 1. Trade-offs and Opportunity Cost Chapter 2. Demand and Supply Curves Chapter 3. Demand and Supply Together—Quantity and Price in Unrestricted Markets Chapter 4. Demand and Supply—Quantity and Price in Restricted Markets Chapter 5. The Consumer—Elasticity and Incentives Chapter 6. The Consumer—How to Choose /Tips on Hunting for Economics Everywhere in Part I / Part II. Costs, Production, and Markets Chapter 7. Cost and Production Chapter 8. The Firm in the Short Run—Fixed and Variable Costs Chapter 9. Competitive Markets in the Long Run Chapter 10. Competitive Markets—Responses to Shocks Chapter 11. Social Optima Chapter 12. Monopoly and Monopolistic Competition Chapter 13. Price Discrimination Chapter 14. Oligopoly (including Game Theory) / Tips on Hunting for Economics Everywhere in Part II / Part III. Input Markets, the Public Sector, and International Markets Chapter 15. Present Value and Discounting Chapter 16. Wage Differences Chapter 17. Labor Market Behavior and Poverty Chapter 18. Externalities, Public Goods, and Property Rights Chapter 19. Taxes and Public Expenditures 17 Economics Chapter 20. International Economics / Tips on Hunting for Economics Everywhere in Part III / Glossary / Index (combined) SCHAUM’S OUTLINE OF EASY OUTLINE OF PRINCIPLES OF ECONOMICS By Dominick Salvatore, Fordham University in New York and Eugene Diulio 2003 / 144 pages ISBN-13: 978-0-07-139873-2 / MHID: 0-07-139873-2 THE ECONOMICS OF WAR By Paul Poast, Ohio State University 2006 / 240 pages ISBN-13: 978-0-07-313399-7 / MHID: 0-07-313399-X Website: http://www.mhhe.com/economics/poast1e With the costs of war dominating our economic news and discussions, Paul Poast’s new text is a needed, relevant and thought-provoking new offering. Written in an extremely accessible manner, the book is an interesting addition to a course at any level. The book’s low price makes it a perfect complement to a Principles text, a Social Issues book, or any upper-level course on war or international security into which an instructor would like to add some economic data or theory. A Schaum Publication CONTENTS Chapter 1: Introduction to Economics / Chapter 2: Demand, Supply, and Equilibrium / Chapter 3: Unemployment, Inflation, and National Income / Chapter 4: Consumption, Investment, Net Exports, and Government Expenditures / Chapter 5: Traditional Keynesian Approach to Equilibrium Output / Chapter 6: Fiscal Policy / Chapter 7: Money, Banking, and the Federal Reserve / Chapter 8: Monetary Policy / Chapter 9: Economic Growth and Productivity / Chapter 10: International Trade and Finance / Chapter 11: Theory of Consumer Demand and Utility / Chapter 12: Production Costs / Chapter 13: Perfect Competition / Chapter 14: Monopoly / Chapter 15: Monopolistic Competition and Oligopoly / Chapter 16: Demand for Economic Resources / Chapter 17: Pricing of Wages, Rent, Interest, and Profits / Index Contents UNIT I: The Economic Impact of War Chapter 1: The War Economy in Theory 1.1 Introduction 1.2 The Iron Law of War 1.3 Four Point Scheme for Evaluating the Economic Effects of War 1.4 Key Points Chapter 2: The War Economy in Reality: Case Studies of Major Wars 2.1 Introduction 2.2 Cases That Support the Iron Law of War (World War I, World War Ii, and Korea) 2.3 Cases That Do Not Support the Iron Law of War (Vietnam, 1991 Persian Gulf, and Iraq) 2.4 Key Points UNIT II: Modern Military Economics Chapter 3: Defense Spending and the Economy 3.1 Introduction 3.2 U.S. Military Expenditures 3.3 U.S. Military Expenditures and Macroeconomic Performance 3.4 Global Military Expenditures 3.5 Exploring the Causes of Militarization 3.6 Key Points Chapter 4: Military Labor 4.1 Introduction 4.2 Comparing Military Manpower 4.3 All Volunteer Force (AVF) v. Conscription 4.4 Case Study: The Vietnam Transition from Conscription to an AVF 4.5 U.S. Military Compensation: Is It Enough? 4.6 Private Military Forces/Companies (PMF/PMC) 4.7 Key Points Chapter 5: Weapons Procurement 5.1 Introduction 5.2 Overview of the Arms Market 5.3 The Domestic Weapons Market 5.4 The Global Weapons Market 5.5 Case Study: The Joint Strike Fighter 5.6 Key Points UNIT III: The Economics of Modern Security Threats Chapter 6: Civil Conflicts in the Developing World 6.1 Introduction 6.2 Economic Consequences of Civil Wars 6.3 Economic Causes of Civil Wars 6.4 Case Studies of Conflict And Underdevelopment in Africa 6.5 Peace Operations: An Economically Inefficient Response? 6.6 Key Points Chapter 7: Terrorism 7.1 Introduction 7.2 Definition of Terrorism 7.3 Incidents and Trends in International Terrorism 7.4 Is Terrorism Rational? 7.5 Terrorist Financing 7.6 Economic Impact of Terrorism 7.7 Key Points Chapter 8: Weapons of Mass Destruction Proliferation 8.1 Introduction 8.2 Overview of Biological, Chemical, and Nuclear Weapons 8.3 Basics of Constructing Nuclear Weapons Material 8.4 Demand for Nuclear Weapons 8.5 Supply of Nuclear Weapons 8.6 Treaties: An Effective Response? 8.7 Key Points International Edition A GUIDE TO THE WEB FOR ECONOMICS By D. Scott Bellamy and Edward P. Kardas of Southern Arkansas University 2000 ISBN-13: 978-0-07-236208-4 / MHID: 0-07-236208-1 (CD-ROM) ISBN-13: 978-0-07-118369-7 / MHID: 0-07-118369-8 [IE] Website: www.mhhe.com/economics/bellamy/ CONTENTS 1. Locating Web Resources 2. Evaluating Web Resources 3. General Resources in Economics 4. Fundamentals of Economics 5. The Market System 6. Macroeconomic Measures 7. AD/AS and Schools of Economic Thought 8. Fiscal Policy 9. Money and the Federal Reserve System 10. International Economics 11. Taxes, Deficits, and Debt 12. Consumer Choice 13. Elasticities14. Firms, Production and Cost 15. Product Markets 16. Factor Markets 17. Market Failure 18. Public Choice International Edition EXPERIMENTS WITH ECONOMIC PRINCIPLES Microeconomics, 2nd Edition ECONOMICS STUDY WORKBOOK 8th Edition By David Begg, Principal of Tanaka Business School-Imperial College, University of London and Damian Ward, Bradford University 2005 / 364 pages ISBN-13: 978-0-07-710780-2 / MHID: 0-07-710780-2 McGraw-Hill UK Title This student study guide supports Begg, Economics 8th edition. It gives students a chance to apply their knowledge to a large selection of problems and to test their understanding of what they have read. 18 By Theodore C. Bergstrom, University of California-Santa Barbara and John H Miller, Carnegie Mellon University 2000 / 448 pages ISBN-13: 978-0-07-229518-4 / MHID: 0-07-229518-X ISBN-13: 978-0-07-116172-5 / MHID: 0-07-116172-4 [IE] Website: www.econ.ucsb.edu/~tedh/eep/eep.html CONTENTS I Competitive Markets 1. Supply and Demand 2. Shifting Supply and Demand II Market Intervention and Public Policy 3. A Sales Tax 4. Prohibition 5. A Minimum Wage III. Imperfect Markets 6. Externalities 7. Monopolies and Cartels IV Firms and Technology 8. Entry and Exit 9. Network Externalities 10. Entry and Exit 11. Measuring Productivity 12. Comparative Advantage V Information, Auctions, and Bargaining 13. Adverse selection 14. Auctions 15. Fundamental Concepts VI Essential Economic Concepts Economics SCHAUM’S OUTLINE OF MACROECONOMICS 3rd Edition By Eugene Diulio 1999 / 333 pages ISBN-13: 978-0-07-017053-7 / MHID: 0-07-017053-3 Principles of Macroeconomics - Textbooks A Schaum Publication CONTENTS 1. Introduction to Macroeconomic Analysis. 2. Measures of Output, Prices, and Employment. 3. Output in the Short and Long Run. 4. Models of Spending Equilibrium. 5. The IS-LM Framework. 6. Monetary and Fiscal Policy in a Closed Economy. 7. Monetary and Fiscal Policy in an Open Economy. 8. Schedules of Aggregate Demand and Aggregate Supply. 9. Aggregate Supply and Aggregate Demand Analysis. 10. Aggregate Supply, Aggregate Demand, and Inflation. 11. Economic Growth. 12. The Supply of and Demand for Money. 13. Consumption. 14. Theories of Investment. SCHAUM’S OUTLINE OF PRINCIPLES OF ECONOMICS 2nd Edition By Dominick Salvatore and Eugene A. Diulio 1996 / 368 pages ISBN-13: 978-0-07-054629-5 / MHID: 0-07-054629-0 A Schaum Publication New MACROECONOMICS 8th Edition By Stephen Slavin, Union College 2008 (September 2006) / 544 pages ISBN-13: 978-0-07-328148-3 / MHID: 0-07-328148-4 Website: http://www.mhhe.com/slavin8e Steve Slavin’s lively and comprehensive Macroeconomics has a student-friendly, step-by-step approach; value pricing; and a built-in Workbook/Study Guide. Instructors and students like the author’s humorous anecdotes, direct language, and easy conversational style. The text encourages active rather than passive reading. New to this edition A Chapter Issues section at the end of each chapter gives practical application to at least one of the concepts covered in the chapter. New discussions have been added to provide yet more practical application to the overall text. CONTENTS 1. Introduction to Economics. 2. The Economic Problem. 3. Demand, Supply, and Equilibrium. 4. Introduction to Macroeconomics. 5. Unemployment, Inflation, and National Income. 6. Consumption, Investment, and Net Exports. 7. Keynesian Approach to Equilibrium Output. 8. Fiscal Policy. 9. Money and Banking. 10. The Federal Reserve and the Money Supply. 11. Monetary and Fiscal Policy. 12. Inflation, Unemployment, Deficits, and Debt. 13. Economic Growth and Productivity. 14. Demand, Supply and Elasticity. 15. The Theory of Consumer Demand and Utility. 16. Costs of Production. 17. Price and Output. 18. Perfect Competition. 19. Price and Output: Monopoly. 20. Price and Output: Monopolistic Competition and Oligopoly. 21. Production and the Demand for Economic Resources. 22. Wage Determination.23. Rent, Interest, and Profits. The discussion of comparative advantage in Chapter 18 has been written for simplicity and clarity, making it easier for students to learn. Features Value Price: Slavin’s low price continues to make it one of the best values on the market. It’s approximately $25 less than other principles texts. Fun Writing Style: The author’s humorous writing style and historical approach to economics are a hit with students who might otherwise find the subject dry or intimidating. Steve Slavin is an experienced and respected author--in addition to having over 30 years experience teaching the principles course, he has written 11 other math and economics books. Streamlined Text: The streamlined basis of the text has been retained from the previous version, and the more obscure passages have been simplified. Special In-Text Boxes: Dozens of self-help boxes anticipate and answer frequently asked questions. The book reviews math that students should have learned before college. The better prepared students can skip this material, but this review enables all students to start on a level playing field in the course. Many advanced work boxes provide more challenging material, giving adventurous students an opportunity to learn and master difficult material. This optional material can be easily skipped by instructors. COMPLIMENTARY COPIES Complimentary desk copies are available for course adoption only. Kindly contact your local McGraw-Hill Representative or fax the Examination Copy Request Form available on the back pages of this catalog. Visit McGraw-Hill Education Website: www.mheducation.com CONTENTS 1 A Brief Economic History of the United States. 2 Resource Utilization. 3 Supply and Demand. 4 The Mixed Economy. 5 The Household-Consumption Sector. 6 The Business-Investment Sector. 7 The Government Sector. 8 The Export-Import Sector. 9 Gross Domestic Product. 10 Economic Fluctuations, Unemployment, and Inflation. 11 Classical and Keynesian Economics. 12 Fiscal Policy and National Debt. 13 Money and Banking. 14 The Federal Reserve and Monetary Policy. 15 A Century Of Economic Policy. 16 Economic Growth and Productivity. 17 Income Distribution and Poverty. 18 International Trade. 19 International Finance 19 Economics International Edition New PRINCIPLES OF MACROECONOMICS 3rd Edition By Robert H. Frank, Cornell University-Ithaca and Ben Bernanke, Princeton University 2007 (January 2006) ISBN-13: 978-0-07-323061-0 / MHID: 0-07-323061-8 (with Discover Econ Code Card) ISBN-13: 978-0-07-110820-1 / MHID: 0-07-110820-3 [IE with Discover Econ Code Card] Website: http://www.mhhe.com/economics/frankbernanke3 In recent years, innovative texts in mathematics, science, foreign languages, and other fields have achieved dramatic pedagogical gains by abandoning the traditional encyclopedic approach in favor of attempting to teach a short list of core principles in depth. Two well-respected writers and researchers, Bob Frank and Ben Bernanke, have shown that the less-is-more approach affords similar gains in introductory economics. Although recent editions of a few other texts have paid lip service to this new approach, Frank/Bernanke is by far the best thought out and best executed principles text in this mold. Avoiding excessive reliance on formal mathematical derivations, it presents concepts intuitively through examples drawn from familiar contexts. The authors introduce a well-articulated short list of core principles and reinforcing them by illustrating and applying each in numerous contexts. Students are periodically asked to apply these principles to answer related questions and exercises. The text also encourages students to become “Economic Naturalists,” people who employ basic economic principles to understand and explain what they observe in the world around them. An economic naturalist understands, for example, that infant safety seats are required in cars but not in airplanes because the marginal cost of space to accommodate these seats is typically zero in cars but often hundreds of dollars in airplanes. Such examples engage student interest while teaching them to see each feature of their economic landscape as the reflection of an implicit or explicit cost-benefit calculation. NEW TO THIS EDITION Expanded Discussion of Macroeconomic Policy: The revised monetary policy reaction function we introduce in Chapter 27 is a more realistic description of how the Fed actually conducts monetary policy and clarifies the Taylor rule. In Chapter 28 we use this policy reaction function to help students distinguish between a move along the aggregate demand curve and a shift in the aggregate demand curve resulting from a change in monetary policy. In a new Chapter 29, we provide a more complete analysis of the interaction between fiscal and monetary policy, illustrating the crucial role of the central bank in any long-run inflation. We also discuss how enhanced credibility can help to anchor inflationary expectations and explain the contributions of central bank independence, inflation targeting, and central bank reputation. In the last section of Chapter 29 we expand our discussion of the real-world difficulties in conducting macroeconomic policy. More Patient Presentation of Models: In Chapter 26 we explain the effects of tax cuts on planned aggregate expenditure more carefully. In an optional box we also solve a simple Keynesian model, leaving the full model in the appendix, as in the second edition. In the diagrams in Chapter 28 we include the transitional short-run aggregate supply lines to illustrate how the short-run aggregate supply line shifts when actual output deviates from potential output. Expanded Discussion of Supply-Side Economics: Most economists agree that changes in marginal tax rates can affect both aggregate demand and aggregate supply, but they disagree on the size of the effects. In Chapter 28 we describe this controversy in greater detail and present both the theoretical and empirical evidence of the effects of changes in marginal tax rates on aggregate supply. Greater Attention to Asset Prices: In Chapter 21 we provide a clearer explanation of the inverse relationship between bond prices and interest 20 rates. We also discuss the effects of changes in asset prices (especially stocks and houses) on aggregate demand. Simpler Presentation of Exchange Rates: We use supply and demand curves to illustrate the determination of nominal exchange rates before we introduce the real exchange rate and purchasing-power-parity. Additional Material on China: At its current rate of growth the Chinese economy may become the largest economy in the world within the next generation. In this edition we expand our discussion of China in the world economy. We discuss the determinants of its success and its management of its exchange rate. New Material on the Acceleration of Productivity Growth: The productivity slowdown of 1973-1995 has been followed by surprisingly strong productivity growth. We present and discuss the reasons for this acceleration. Updated Discussion of Saving and Investment: In addition to emphasizing the importance of public and private saving and the relationship between the budget deficit, national saving, and capital flows, we discuss the recently divergent trends in business and household saving. features An Emphasis on Core Principles: A few core principles do most of the work in economics. By focusing on these principles, the text assures that students leave the course with a deep mastery of them. In contrast, traditional encyclopedic texts so overwhelm students with detail that they often leave the course with little useful working knowledge at all. Economic Naturalism Introduced: The authors’ ultimate goal is to produce “economic naturalists”--people who see each human action as the result of an implicit or explicit cost-benefit calculation. The economic naturalist sees mundane details of ordinary existence in a new light and becomes actively engaged in the attempt to understand them. o Why don’t auto manufacturers make cars without heaters? o Why are whales, but not chickens, threatened with extinction? o Why do movie theaters give student discounts on the price of admission but not on the price of popcorn? Active Learning Stressed: The only way to lean to hit an overhead smash in tennis or to speak a foreign language is through repeated practice. The same is true for learning economics. Thus, the authors consistently introduce new ideas in the context of simple examples and then follow them with applications showing how they work in familiar settings. And frequently, the text poses exercises that both test and reinforce the understanding of these ideas. The end-of-chapter questions and problems are carefully crafted to help students internalize and extend core concepts. Students are prepared to apply the important concepts to solve “economic riddles” drawn from the real world. Well-Known Authors: Robert Frank and Ben Bernanke are renowned experts in their fields (micro and macro, respectively). Frank’s research has looked at rivalry and cooperation in economic and social behavior. He is the author of a best-selling intermediate economics text, Microeconomics and Behavior, (McGraw-Hill/Irwin), and has published such award-winning books as The Winner-Take-All-Society and Luxury Fever. Bernanke is the co-author of a best-selling intermediate macroeconomics text and has done significant research on the causes of the Great Depression, the role of financial markets and institutions in the business cycle, and measuring the effects of monetary policy on the economy. He was a member of the Federal Reserve Board of Governors for more than 2 years and is now the Chairman of the President’s Council of Economic Advisers. Modern Macroeconomics: Recent developments have renewed interest in cyclical fluctuations while still paying attention to such long-run issues as growth, productivity, the evolution of real wages, and capital formation. Thus, we offer the following organization: A 5-chapter treatment of long-run issues prior to an analysis of short-run fluctuations followed by a modern treatment of short-term fluctuations and stabilization policy, emphasizing the important distinction between short- and long-run behavior of the economy. Consistent with both media reporting and recent research on the central bank reaction function, we treat the interest rate rather than the money supply as the instrument of Fed policy. The analysis of aggregate demand and aggregate supply Economics relates output to inflation, rather than to the price level, sidestepping the necessity of a separate derivation of the link between the output gap and inflation. This book places a heavy emphasis on globalization, starting with an analysis of its effects on real wage inequality and progressing to such issues as the benefits of trade, the causes and effects of protectionism, the role of capital flows in domestic capital formation, the link between exchange rates and monetary policy, and the sources of speculative attacks on currencies. Web site: Developed by Scott Simkins of North Carolina A & T State University, an expert in the growing field of Economics education on the World Wide Web, the ambitious web site contains a host of features that will enhance the principles classroom, including dynamic graphs, video lectures, e-mail updates, microeconomic experiments, current news articles, information about the text, an eLearning session, and more. MICROECONOMICS DEMYSTIFIED By Craig Depken 2006 (November 2005) / 304 pages ISBN-13: 978-0-07-145911-2 / MHID: 0-07-145911-1 A Professional Reference Title Microeconomics Demystified features a clear and easy-tounderstand presentation of the concepts and principles of microeconomics, with generous applications and examples. This self-teaching guide comes complete with key points, background information, quizzes at the end of each chapter, and even a final exam. Simple enough for beginners but challenging enough for advanced students, this is a lively and entertaining brush-up, introductory text, or classroom supplement. CONTENTS Part 1 Introduction. 1. Thinking Like an Economist. 2. Comparative Advantage: The Basis for Exchange. 3. Supply and Demand: An Introduction. Part 2 Macroeconomics: Issues and Data. 4. Macroeconomics: The Bird’s-Eye View of the Economy. 5. Measuring Economic Activity: GDP and Unemployment. 6. Measuring the Price Level and Inflation. Part 3 The Economy in the Long Run. 7. Economic Growth, Productivity, and Living Standards. 8. Workers, Wages, and Unemployment in the Modern Economy. 9. Saving and Capital Formation. 10. Money and the Federal Reserve. 11. Financial Markets and International Capital Flow. Part 4 The Economy in the Short Run. 12. Short-term Economic Fluctuations: An Introduction. 13. Spending and Output in the Short Run. 14. Stabilizing the Economy: The Role of the Fed. 15. Inflation, Aggregate Supply, and Aggregate Demand. 16. The Practice and Pitfalls of Macroeconomic Policy. Part 5 The International Economy. 17. International Trade. 18. Exchange Rates and the Open Economy MACROECONOMICS 6th Edition By David Colander, Middlebury College 2006 / 576 pages ISBN-13: 978-0-07-297885-8 / MHID: 0-07-297885-6 ISBN-13: 978-0-07-322295-0 / MHID: 0-07-322295-X (with Paul Solman Videos Code Card) Website: http://www.mhhe.com/economics/colander6 Written in an informal colloquial style, this student-friendly Principles of Macroeconomics textbook does not sacrifice intellectual depth in its quest for accessibility. The author’s primary concern is to instill “economic sensibility” in the student. Colander emphasizes the intellectual and historical context to which the economic models are applied. This new edition offers improvements to this established and respected text including special Questions from Alternate Perspectives end-of-chapter questions that facilitate class discussion of differing schools of thought in the discipline, and access to over 250 minutes of new videos from Paul Solman of the Lehrer NewsHour. New MACROECONOMICS 8th Edition By John Jackson and Ron McIver, University of South Australia 2006 (September 2006) ISBN-13: 978-0-07-471698-4 / MHID: 0-07-471698-0 McGraw-Hill Australia Title CONTENTS Part 1, Introduction to Economics Ch 1, The nature and method of economics /Appendix: Graphs and their meaning Ch 2, The economising problem Ch 3, Demand and supply Part 2, Macroeconomic Activity and Fiscal Policy Ch 4, Australia’s national and international accounts/Appendix: Other national accounting concepts Ch 5, The macroeconomic environment Ch 6, Aggregate expenditures model and multipliers/Appendix: Derivation of the multipliers Ch 7, Aggregate demand and aggregate supply Ch 8, Fiscal policy and the public debate Part 3, Monetary Policy and Economic Stability Ch 9, Money, banking and the financial system Ch 10, How banks create money Ch 11, Monetary policy Ch 12, Macroeconomic ideas--evolution and debates Ch 13, Inflation Ch 14, Aggregate supply and the labour market Part 4, Growth and Development Ch 15, The economics of growth Ch 16, Growth and the developing countries Part 5, Exchange Rates and the International Monetary System Ch 17, Models of the exchange rate Ch 18, The international monetary system Contents I: Introduction: Thinking Like An Economist Chapter 1: Economics and Economic Reasoning Chapter 2: Trade, Trade-off’s and Government Policy Chapter 3: The Evolving U.S. Economy in Perspective Chapter 4: Supply and Demand Chapter 5: Using Supply and Demand Chapter 6: Economic Growth, Business Cycles, Unemployment, and Inflation Chapter 7: National Income Accounting II: The Macroeconomic Framework Chapter 8: Growth, Productivity, and the Wealth of Nations Chapter 9: Aggregate Demand, Aggregate Supply, and Modern Macroeconomics Chapter 10: The Multiplier Model III: Money, Inflation, and Monetary Policy Chapter 11: Money, Banking, and the Financial Sector Chapter 12: Monetary Policy and the Debate about Macro Policy Chapter 13: Inflation and Its Relationship to Unemployment and Growth IV: Macro Policy in Perspective Chapter 14: Aggregate Demand Policy in Perspective Chapter 15: Politics, Deficits,and Debt Chapter 16: Macro Policies in Developing Countries V: International Policy Issues Chapter 17: International Trade Policy, Comparative Advantage, and Outsourcing Chapter 18: International Financial Policy Chapter 19: Macro Policy in a Global Setting / Glossary / Colloquial Glossary / Index INVITATION TO PUBLISH McGraw-Hill is interested in reviewing manuscript for publication. Please contact your local McGraw-Hill office or email to [email protected] Visit McGraw-Hill Education (Asia) Website: www.mcgraw-hill.com.sg 21 Economics THE MACRO ECONOMY TODAY 10th Edition issues in macroeconomics, after which our Australian adaptation moves away from the more traditional structure of the US book, covering short-run macroeconomics first and then moving logically into the long run. The final two parts of the book cover open economy macroeconomics – so important to our global region – and conclude with a new capstone chapter. Website: http://www.mhhe.com/economics/schiller10 contents By Bradley R Schiller, American University 2006 ISBN-13: 978-0-07-313783-4 / MHID: 0-07-313783-9 (with Solman Videos DVD) Brad Schiller’s text, The Macroeconomy Today, 10/e, is noted for three great strengths: readability, policy orientation, and pedagogy. His accessible writing style engages students and brings some of the excitement of domestic and global economic news into the classroom. Schiller emphasizes how policymakers must choose between government intervention and market reliance to resolve the core issues of what, how, and for whom to produce. This strategic choice is highlighted throughout the full range of micro, macro, and international issues. Every chapter ends with a policy issue that emphasizes the markets vs. government dilemma. And Schiller packs his chapters with the facts of economic life—real stories and applications, not fables. This is a book that teaches economics in a relevant context with careful pedagogy. It is also the only principles text that presents all macro theory in the single consistent context of the AS/AD framework. Schiller 10e is for students motivated by real-world policy issues who want to become economically literate. This is a book students actually READ. Schiller is also known for its cutting-edge and current coverage of today’s issues. Part I: Core Principles of Economics Chapter 1: Economics and the market Chapter 2: Comparative advantage: the basis for trade Part II: Issues in Macroeconomics Chapter 3: Measuring macroeconomic performance: output and prices Chapter 4: Measuring macroeconomic performance: savings and wealth Chapter 5: Measuring macroeconomic performance: unemployment and the labour market Part III: Short-run Macroeconomics: The Analysis of the Business Cycle Chapter 6: Shortterm economic fluctuations Chapter 7: Spending and output in the short run Chapter 8: Money, prices and the Reserve Bank Chapter 9: The Reserve Bank and the economy Chapter 10: Inflation and aggregate supply Part IV: Long-run Macroeconomics: The Analysis of Economic Growth Chapter 11: The economy in the long run: an introduction to economic growth Chapter 12: The production function approach to understanding growth Chapter 13: Savings, capital formation and comparative economic growth Part V: Open Economy Macroeconomics Chapter 14: An introduction to the open economy Chapter 15: Exchange rates and the open economy Chapter 16: The balance of payments – net export and international capital flows Part VI : Concluding Thoughts Chapter 17: Macroeconomics: what have we learnt? Contents Part 1 BASIC CONCEPTS Chapter 1 Economics: The Core Issues Appendix: Using Graphs Chapter 2 The U.S. Economy: A Global View Chapter 3 Supply and Demand Chapter 4 The Public Sector Part 2 MEASURING MACRO OUTCOMES Chapter 5 National-Income Accounting Chapter 6 Unemployment Chapter 7 Inflation Part 3 CYCLICAL INSTABILITY Chapter 8 The Business Cycle Chapter 9 Aggregate Demand Appendix: The Keynesian Cross Chapter 10 Self-Adjustment or Instability? Part 4 FISCAL POLICY LEVERS Chapter 11 Fiscal Policy Chapter 12 Deficits, Surpluses, and Debts Part 5 MONETARY POLICY OPTIONS Chapter 13 Money and Banks Chapter 14 The Federal Reserve System Chapter 15 Monetary Policy Part 6 SUPPLY-SIDE OPTIONS Chapter 16 Supply-Side Policy: Short-Run Options Chapter 17 Growth and Productivity: Long-Run Possibilities Part 7 POLICY CONSTRAINTS Chapter 18 Global Macro Chapter 19 Theory and Reality Part 8 INTERNATIONAL ECONOMICS Chapter 20 International Trade Chapter 21 International Finance / Glossary / Index / Student Problem Sets PRINCIPLES OF MACROECONOMICS By Ben Bernanke, Princeton University, Nilss Olekalns, University of Melbourne and Robert H Frank, Cornell University 2005 ISBN-13: 978-0-07-471480-5 / MHID: 0-07-471480-5 McGraw-Hill Australia Title Website: http://www.mhhe.com/au/bernanke This new Australian adaptation is based on the highly successful US Principles of Macroeconomics 2e, by Robert Frank and Ben Bernanke. The authors believe that the best way to acquire any skill – an overhead smash or a new language – is through repeated practice and the same active learning approach is used in this book. New ideas and concepts are introduced through simple examples which are repeated and reinforced through illustrations, examples and background notes. Students are challenged to think critically and analytically, applying core economic principles to each scenario. The result is a text that is motivating to students, effective and enjoyable to teach and which provides an exciting first course in macroeconomics. This Australian edition includes a wealth of new data, research, background and examples pertinent to the region. New chapters also cover important regional issues. The first two parts of the book recap key economic principles and examine some of the 22 International Edition MACROECONOMICS 18th Edition By Paul Samuelson, Massachusetts Institute of Technology and William Nordhaus, Yale University 2005 / 480 pages ISBN-13: 978-0-07-287206-4 / MHID: 0-07-287206-3 ISBN-13: 978-0-07-111188-1 / MHID: 0-07-111188-3 [IE] Website: http://www.mhhe.com/www.mhhe.com/economics/ samuelson18e Samuelson’s text was first published in 1948, and it immediately became the authority for the principles of economics courses. The book continues to be the standard-bearer for principles courses, and this revision continues to be a clear, accurate, and interesting introduction to modern economics principles. Bill Nordhaus is now the primary author of this text, and he has revised the book to be as current and relevant as ever. contents PART ONE: BASIC CONCEPTS 1 The Fundamentals of Economics Appendix 1 How to Read Graphs 2 Markets and Government in a Modern Economy 3 Basic Elements of Supply and Demand PART TWO: MACROECONOMICS: ECONOMIC GROWTH AND BUSINESS CYCLES Chapter 4 Overview of Macroeconomics Appendix 4 Macroeconomic Data Chapter 5 Measuring Economic Activity Chapter 6 Consumption and Investment Chapter 7 Business Fluctuations and the Theory of Aggregate Demand Chapter 8 The Multiplier Model Chapter 9 Money, Banking, and Financial Markets Chapter 10 Central Banking and Monetary Policy PART THREE: ECONOMIC GROWTH AND MACROECONOMIC POLICY Chapter 11 The Process of Economic Growth Chapter 12 The Challenge of Economic Development Chapter 13 Exchange Rates and the International Financial System Chapter 14 Open-Economy Macroeconomics PART FOUR: UNEMPLOYMENT, INFLATION, AND ECONOMIC POLICY Chapter 15 Unemployment and the Foundations of Aggregate Supply Chapter 16 Ensuring Price Stability Chapter 17 The Warring Schools of Macroeconomics Chapter 18 Policies for Growth and Stability Economics International Edition MACROECONOMICS 7th Edition By John Jackson, RMIT University, Melbourne and Ron Mclver, University of South Australia 2003 ISBN-13: 978-0-07-471323-5 / MHID: 0-07-471323-X (with Online Learning Center) ISBN-13: 978-0-07-124264-6 / MHID: 0-07-124264-3 [IE with Online Learning Center] McGraw-Hill Australia Title Website: www.mhhe.com/jackson_macro7e CONTENTS Part One: Introduction to Economics Chapter 1 The nature and method of economics Chapter 2 The economising problem Chapter 3 The mechanics of individual prices: demand and supply Part Two: Macroeconomic Activity and Fiscal Policy Chapter 4 Australia’s national and international accounts Chapter 5 Macroeconomic instability: unemployment, inflation and the current account deficit Chapter 6 The aggregate expenditures model Chapter 7 Multipliers, government budgets and net exports Chapter 8 Aggregate demand and aggregate supply Chapter 9 Fiscal policy and the public debt Part Three: Monetary Policy and Economic Stability Chapter 10 Money, banking and the financial system Chapter 11 How banks create money Chapter 12 The Reserve Bank of Australia and monetary policy Chapter 13 Macroeconomic debates Chapter 14 Inflation Chapter 15 Aggregate supply and the labour market Part Four: Growth and Development Chapter 16 The economics of growth Chapter 17 Growth and the less developed countries Part Five: Exchange Rates and the International Monetary System Chapter 18 Models of the exchange rate Chapter 19 The international monetary system Principles of Microeconomics - Textbooks New MICROECONOMICS 8th Edition By Stephen Slavin, Union College 2008 (September 2006) / 544 pages ISBN-13: 978-0-07-328147-6 / MHID: 0-07-328147-6 Website: http://www.mhhe.com/slavin8e Steve Slavin’s lively and comprehensive Microeconomics has a student-friendly, step-by-step approach; value pricing; and a built-in Workbook/Study Guide. Instructors and students like the author’s humorous anecdotes, direct language, and easy conversational style. The text encourages active rather than passive reading. New to this edition A Chapter Issues section at the end of each chapter gives practical application to at least one of the concepts covered in the chapter. New discussions have been added to provide yet more practical application to the overall text. The discussion of comparative advantage in Chapter 19 has been written for simplicity and clarity, making it easier for students to learn. Features Value Price: Slavin’s low price continues to make it one of the best values on the market. It’s approximately $25 less than other principles texts. Fun Writing Style: The author’s humorous writing style and historical approach to economics are a hit with students who might otherwise find the subject dry or intimidating. Steve Slavin is an experienced and respected author--in addition to having over 30 years experience teaching the principles course, he has written 11 other math and economics books. Streamlined Text: The streamlined basis of the text has been retained from the previous version, and the more obscure passages have been simplified. Special In-Text Boxes: Dozens of self-help boxes anticipate and answer frequently asked questions. The book reviews math that students should have learned before college. The better prepared students can skip this material, but this review enables all students to start on a level playing field in the course. Many advanced work boxes provide more challenging material, giving adventurous students an opportunity to learn and master difficult material. This optional material can be easily skipped by instructors. CONTENTS 1 A Brief Economic History of the United States 2 Resource Utilization 3 Supply and Demand 4 The Mixed Economy 5 Demand, Supply, and Equilibrium 6 Elasticities of Supply and Demand 7 Theory of Consumer Behavior 8 Cost 9 Profit, Loss, and Perfect Competition 10 Monopoly 11 Monopolistic Competition 12 Oligopoly 13 Corporate Mergers and Antitrust 14 Demand in the Factor Market 15 Labor Unions 16 Labor Markets and Wage Rates 17 Rent, Interest, and Profit 18 Income Distribution and Poverty 19 International Trade 20 International Finance International Edition New PRINCIPLES OF MICROECONOMICS 3rd Edition By Robert H Frank, Cornell University and Ben Bernanke, Princeton University 2007 (November 2005) ISBN-13: 978-0-07-323060-3 / MHID: 0-07-323060-X (with Discover Econ Code Card) ISBN-13: 978-0-07-110657-3 / MHID: 0-07-110657-X [IE with Discover Econ Code Card] Website: http://www.mhhe.com/economics/frankbernanke3 In recent years, innovative texts in mathematics, science, foreign languages, and other fields have achieved dramatic pedagogical gains by abandoning the traditional encyclopedic approach in favor of attempting to teach a short list of core principles in depth. Two well-respected writers and researchers, Bob Frank and Ben Bernanke, have shown that the less-is-more approach affords similar gains in introductory economics. Although recent editions of a few other texts have paid lip service to this new approach, Frank/Bernanke is by far the best thought out and best executed principles text in this mold. Avoiding excessive reliance on formal mathematical derivations, it presents concepts intuitively through examples drawn from familiar contexts. The authors introduce a well-articulated short list of core principles and reinforcing them by illustrating and applying each in numerous contexts. Students are periodically asked to apply these principles to answer related questions, exercises, and problems. The text also encourages students to become “Economic Naturalists,” people who employ basic economic principles to understand and explain what they observe in the world around them. An economic naturalist understands, for example, that infant safety seats are required in cars but not in 23 Economics airplanes because the marginal cost of space to accommodate these seats is typically zero in cars but often hundreds of dollars in airplanes. Such examples engage student interest while teaching them to see each feature of their economic landscape as the reflection of an implicit or explicit cost-benefit calculation. NEW TO THIS EDITION A new core principle has been added to Chapter 1 that says “A person [or a firm or a society] is more likely to take an action if its benefit rises, and less likely to take it if its cost rises. In short, incentives matter.” Also the discussion of positive vs. normative economics has been expanded. The supplements package has been extensively revised and improved. We have new authors for the Test Bank and the Study Guide. This material has also been extensively checked for accuracy. These improvements should help in the difficult tasks of learning and of teaching Principles of Microeconomics. The international trade chapter [now Chapter 9] has been made more robust and moved forward. Because international trade involves important micro principles and policy issues, students will benefit greatly from this expanded coverage early in the book. The strategy chapter [now Chapter 11] has been revised to include more on oligopoly and monopolistic competition--two topics that are typically used to present game theory. Indifference curve material has been added as an appendix to Chapter 5. In the Second Edition this material was placed on the web site; in this edition, it is a part of the text, making it easier for students to access it. DiscoverEcon with Solman Videos: We now have an interactive software program for homework management, tutorials, videos, and assessment. This software houses both the best-selling tutorial software for Principles of Economics, and brand-new videos featuring Paul Solman of the NewsHour with Jim Lehrer on PBS. This product includes 250 minutes of video that explains introductory economic concepts in a real-world, student-friendly manner. DiscoverEcon includes updated graphing applets, interactive exercises, animated tutorials, and hundreds of multiple-choice questions to test student comprehension in each book chapter. The videos are integrated into the website and are available web streaming or on DVD. FEATURES An Emphasis on Core Principles: A few core principles do most of the work in economics. By focusing on these principles, the text assures that students leave the course with a deep mastery of them. In contrast, traditional encyclopedic texts so overwhelm students with detail that they often leave the course with little useful working knowledge at all. Economic Naturalism Introduced: The authors’ ultimate goal is to produce “economic naturalists” –people who see each human action as the result of an implicit or explicit cost-benefit calculation. The economic naturalist sees mundane details of ordinary existence in a new light and becomes actively engaged in the attempt to understand them. Why don’t auto manufacturers make cars without heaters? Why are whales, but not chickens, threatened with extinction? Why do movie theaters give student discounts on the price of admission but not on the price of popcorn? Active Learning Stressed: The only way to learn to hit an overhead smash in tennis or to speak a foreign language is through repeated practice. The same is true for learning economics. Thus, the authors consistently introduce new ideas in the context of simple examples and then follow them with applications showing how they work in familiar settings. And frequently, the text poses exercises that both test and reinforce the understanding of these ideas. The end-of-chapter questions and problems are carefully crafted to help students internalize and extend core concepts. Students are prepared to apply the important concepts to solve “economic riddles” drawn from the real world. 24 Well-Known Authors: Robert Frank and Ben Bernanke are renowned experts in their fields (micro and macro, respectively). Frank’s research has looked at rivalry and cooperation in economic and social behavior. He is the author of a best-selling intermediate economics text, Microeconomics and Behavior, (McGraw-Hill/Irwin), and has published such award-winning books as The Winner-Take-All-Society and Luxury Fever. Bernanke is the co-author of a best-selling intermediate macroeconomics text and has done significant research on the causes of the Great Depression, the role of financial markets and institutions in the business cycle, and measuring the effects of monetary policy on the economy. He is a member of the Federal Reserve Board of Governors under Alan Greenspan. Modern Microeconomics: Economic surplus, introduced in Chapter 1 and applied repeatedly thereafter, is more fully developed here than in any other text. This concept underlies the argument for economic efficiency as an important social goal. Rather than speak of tradeoffs between efficiency and other goals, the authors stress that maximizing economic surplus facilitates the achievement of all goals. The tendency to ignore opportunity costs, the tendency not to ignore sunk costs, and the tendency to confuse average and marginal costs and benefits—common decision pitfalls identified by 2002 Nobel Laureate Daniel Kahneman and others—are introduced early in Chapter 1. The book devotes a chapter to the economics of information, making available in intuitively accessible form key insights that earned the 2001 Nobel Prize in economics for George Akerlof, Joseph Stiglitz, and Michael Spence. Web site: Developed by Scott Simkins of North Carolina A & T State University, an expert in the growing field of Economics education on the World Wide Web, the ambitious web site contains a host of features that will enhance the principles classroom, including dynamic graphs, video lectures, e-mail updates, microeconomic experiments, current news articles, information about the text, an eLearning session, and more. Introductory Material Refined: The material in chapter 1 is presented in such a way as to launch these important concepts as clearly and efficiently as possible. From the very beginning, the focus is on how rational people make choices among alternative courses of action. Cost Curve Coverage: The authors introduce average total cost and average variable cost curves in Chapter 6. Taking great pains to make the presentation as simple and uncluttered as possible, no single diagram ever portrays more than three cost curves at once, and most employ only two. This treatment remains faithful the authors’ belief that a full-blown treatment of production functions and cost curves is ill advised at the principles level while providing teachers with greater flexibility. For example, it enables instructors to discuss a firm’s shut down condition graphically and to portray profits and losses graphically. It also facilitates an enriched discussion of the invisible hand process by which profit and loss signals drive resource allocation in competitive markets (Chapter 8). Streamlined Discussion of Labor Markets and Income Redistribution: Frank and Bernanke’s Chapter 13 condenses coverage on Labor Markets and Income Redistribution, eliminating sections on monopsony and comparable worth, utilitarianism, tax policy and occupational choice, progressive consumption taxation, and redistribution and cost-benefit analysis. CONTENTS Part 1 Introduction 1. Thinking Like an Economist 2. Comparative Advantage: The Basis for Exchange 3. Supply and Demand: An Introduction Part 2 Competition and the Invisible Hand 4. Elasticity 5. Demand: The Benefit Side of the Market 6. Perfectly Competitive Supply: The Cost Side of the Market 7. Efficiency and Exchange 8. The Quest for Profit and the Invisible Hand Part 3 International Trade 9. International Trade and Trade Policy Part 4 Market Imperfections 10. Monopoly and Other Forms of Imperfect Competition 11. Thinking Strategically: A Further Look at Monopolistic Competition and Oligopoly 12. Externalities and Property Rights 13. The Economics of Information Part 5 Economics of Public Policy 14. Labor Markets, Poverty, and Income Distribution 15. The Environment, Health, and Safety 16. Public Goods and Tax Policy Economics MICROECONOMICS 6th Edition By David Colander, Middlebury College 2006 / 576 pages ISBN-13: 978-0-07-297884-1 / MHID: 0-07-297884-8 ISBN-13: 978-0-07-322296-7 / MHID: 0-07-322296-8 (with DiscoverEcon with Paul Solman Videos Code Card) Website: http://www.mhhe.com/economics/colander6 Written in an informal colloquial style, this student-friendly Principles of Microeconomics textbook does not sacrifice intellectual depth in its quest for accessibility. The author’s primary concern is to instill “economic sensibility” in the student. Colander emphasizes the intellectual and historical context to which the economic models are applied. This new edition offers improvements to this established and respected text including special Questions from Alternate Perspectives end-of-chapter questions that facilitate class discussion of differing school of thought in the discipline, and access to over 250 minutes of new videos from Paul Solman of the Lehrer NewsHour. Contents I: Introduction: Thinking Like An Economist Chapter 1: Economics and Economic Reasoning Chapter 2: Trade, Trade-off’s and Government Policy Chapter 3: The Evolving U.S. Economy in Perspective Chapter 4: Supply and Demand Chapter 5: Using Supply and Demand II: Microeconomics I: Microeconomics: The Basics Chapter 6: Describing Supply and Demand: Elasticities Chapter 7: Taxation and Government Intervention II: Foundations of Supply and Demand Chapter 8: The Logic of Individual Choice: The Foundation of Supply and Demand Chapter 9: Production and Cost Analysis I Chapter 10: Production and Cost Analysis II III: Market Structure and Policy Chapter 11: Perfect Competition Chapter 12: Monopoly Chapter 13: Monopolistic Competition, Oligopoly, and Strategic Pricing Chapter 14: Real-World Competition and Technology Chapter 15: Antitrust Policy and Regulation IV: Factor Markets Chapter 16: Work and the Labor Market Chapter 17: Who Gets What? The Distribution of Income V: Applying Economic Reasoning to Policy Chapter 18: Government Policy and Market Failures Chapter 19: Politics and Economics: The Case of Agriculture Markets Chapter 20: Microeconomic Policy, Economic Reasoning, and Beyond Chapter 21: International Trade Policy, Comparative Advantage, and Outsourcing Contents Part 1 BASIC CONCEPTS Chapter 1 Economics: The Core Issues Appendix: Using Graphs Chapter 2 The U.S. Economy: A Global View Chapter 3 Supply and Demand Chapter 4 The Public Sector Part 2 PRODUCT MARKETS: THE BASICS Chapter 5 The Demand for Goods Appendix: Indifference Curves Chapter 6: The Costs of Production Part 3 MARKET STRUCTURE Chapter 7 The Competitive Firm Chapter 8 Competitive Markets Chapter 9 Monopoly Chapter 10 Oligopoly Chapter 11 Monopolistic Competition Part 4 REGULATORY ISSUES Chapter 12 (De)Regulation of Business Chapter 13 Environmental Protection Chapter 14 The Farm Problem Part 5 FACTOR MARKETS: BASIC THEORY Chapter 15 The Labor Market Chapter 16 Labor Unions Chapter 17 Financial Markets Part 6 DISTRIBUTIONAL ISSUES Chapter 18 Taxes: Equity vs. Efficiency Chapter 19 Transfer Payments: Welfare and Social Security Part 7 INTERNATIONAL ECONOMICS Chapter 20 International Trade Chapter 21 International Finance / Glossary / Index / Student Problem Sets International Edition MICROECONOMICS 18th Edition By Paul Samuelson, Massachusetts Institute of Technology and William Nordhaus, Yale University 2005 / 464 pages ISBN-13: 978-0-07-287207-1 / MHID: 0-07-287207-1 ISBN-13: 978-0-07-111298-7 / MHID: 0-07-111298-7 [IE] Website: http://www.mhhe.com/www.mhhe.com/economics/ samuelson18e Samuelson’s text was first published in 1948, and it immediately became the authority for the principles of economics courses. The book continues to be the standard-bearer for principles courses, and this revision continues to be a clear, accurate, and interesting introduction to modern economics principles. Bill Nordhaus is now the primary author of this text, and he has revised the book to be as current and relevant as ever. CONTENTS THE MICRO ECONOMY TODAY 10th Edition By Bradley R Schiller, American University 2006 ISBN-13: 978-0-07-313784-1 / MHD: 0-07-313784-7 (with DiscoverEcon with Solman Videos DVD) Website: http://www.mhhe.com/economics/schiller10 Brad Schiller’s text, The Microeconomy Today, 10/e, is noted for three great strengths: readability, policy orientation, and pedagogy. His accessible writing style engages students and brings some of the excitement of domestic and global economic news into the classroom. Schiller emphasizes how policymakers must choose between government intervention and market reliance to resolve the core issues of what, how, and for whom to produce. This strategic choice is highlighted throughout the full range of micro, macro, and international issues. Every chapter ends with a policy issue that emphasizes the markets vs. government dilemma. And Schiller packs his chapters with the facts of economic life—real stories and applications, not fables. This is a book that teaches economics in a relevant context with careful pedagogy. Schiller 10e is for students motivated by real-world policy issues who want to become economically literate. This is a book students actually READ. Schiller is also known for its cutting-edge and current coverage of today’s issues. Part One: Basic Concepts 1 The Fundamentals of Economics Appendix 1 How to Read Graphs 2 Markets and Government in a Modern Economy 3 Basic Elements of Supply and Demand Part Two: Microeconomics: Supply, Demand, and Product Markets 4 Applications of Supply and Demand 5 Demand and Consumer Behavior Appendix 5 Geometrical Analysis of Consumer Equilibrium 6 Production and Business Organization 7 Analysis of Costs Appendix 7 Production, Cost Theory, and Decision of the Firm 8 Analysis of Perfectly Competitive Markets 9 Imperfect Competition and Monopoly 10 Oligopoly and Monopolistic Competition 11 Uncertainty and Game Theory Part Three: Factor Markets: Labor, Land, and Capital 12 How Markets Determine Incomes 13 The Labor Market 14 Land and Capital Appendix 14 Markets and Economic Efficiency Part Four: Applied Microeconomics: International Trade, Government, and the Environment 15 Comparative Advantage and Protectionism 16 Government Taxation and Expenditure 17 Promoting More Efficient Markets 18 Protecting the Environment 19 Efficiency vs. Equality: The Big Tradeof 25 Economics International Edition MICROECONOMICS 7th Edition By John Jackson, RMIT University, Melborne and Ron Mclver, University of South Australia 2003 / 568 pages ISBN-13: 978-0-07-471324-2 / MHID: 0-07-471324-8 (with Online Learning Center) ISBN-13: 978-0-07-124268-4 / MHID: 0-07-124268-6 [IE with Online Learning Center] McGraw-Hill Australia Title Website: www.mhhe.com/jackson_micro7e CONTENTS PART ONE: INTRODUCTION TO ECONOMICS Chapter 1 The nature and method of economics Chapter 2 The economising problem Chapter 3 The mechanics of individual prices: demand and supply PART TWO: AN OVERVIEW OF MICROECONOMICS Chapter 4 Allocation and the market system Chapter 5 The organisation of production in the Australian economy PART THREE: THE ECONOMICS OF MARKETS Chapter 6 Demand and supply: elasticity and its applications Chapter 7 Consumer behaviour Chapter 8 An overview of market structures Chapter 9 The costs of production Chapter 10 Price and output determination: pure competition Chapter 11 Pure monopoly Chapter 12 Price and output determination: monopolistic competition Chapter 13 Price and output determination: oligopoly Chapter 14 The demand for economic resources Chapter 15 The pricing and employment of resources: wage determination Chapter 16 Rent, interest and profits PART FOUR: THE ROLE OF GOVERNMENT Chapter 17 Market failure and resource allocation Chapter 18 The economics of income distribution: inequality and poverty PART FIVE: INTERNATIONAL ECONOMICS Chapter 19 Australia’s trade, and the economics of free trade and protection Survey of Economics International Edition New ESSENTIALS OF ECONOMICS By Stanley L Brue, Pacific Lutheran University and Campbell R McConnell 2007 (November 2005) / 480 pages ISBN-13: 978-0-07-301967-3 / MHID: 0-07-301967-4 ISBN-13: 978-0-07-110634-4 / MHID: 0-07-110634-0 [IE] Many Real World Examples. Brue/McConnell places a strong emphasis on real-world examples. “Illustrating the Idea” features use analogies to illustrate theory discussed in the book. For example, a ratchet wrench analogy describes the asymmetry of price-level changes. In the essentials course where there is limited time to linger over topics, such discussions help students learn more quickly and breathe some life into what can otherwise be rather tedious discussions. Interesting Memorable Applications. “Applying the Analysis” sections walk students through economic theories and ideas and help cement comprehension. For example, the basics of the economic perspective are applied to why customers tend to try to wait in the shortest checkout lines. Differences in elasticity of supply are contrasted by the changing prices of antiques versus reproductions. Same High Quality Supplements As McConnell and Brue. The Study Guide is written by Bill Walstad at the University of Nebraska and the Testbank and Instructor’s Manual are written by Randy Grant at Linfield College in close collaboration with text author Stan Brue. CONTENTS Part One: Introduction Chapter 1: Limits, Alternatives, and Choices Chapter 2: The Market System and the Circular Flow Part Two: Price, Quantity, and Efficiency Chapter 3: Demand, Supply, and Market Equilibrium Chapter 4: Elasticity of Demand and Supply Chapter 5: Market Failure: A Role for Government Part Three: Product Markets Chapter 6: Businesses and Their Costs Chapter 7: Pure Competition Chapter 8: Pure Monopoly Chapter 9: Monopolistic Competition and Oligopoly Chapter 10: Wage Determination Chapter 11: Income Inequality and Poverty Part Four: Macroeconomic Measurement, Models, and Fiscal Policy Chapter 12: Introduction to GDP, Growth, and Instability Chapter 13: Aggregate Demand and Aggregate Supply Chapter 14: Fiscal Policy, Deficits, and Debt Part Five: Money, Banking, and Monetary Policy Chapter 15: Money and Banking Chapter 16: Monetary Policy Part Six: Economic Growth and International Economics Chapter 17: Economic Growth Chapter 18: International Trade / Glossary International Edition New ESSENTIALS OF ECONOMICS 6th Edition By Bradley R Schiller, American University 2007 (June 2006) / 448 pages ISBN-13: 978-0-07-340279-6 / MHID: 0-07-340279-6 ISBN-13: 978-0-07-110146-2 / MHID: 0-07-110146-2 [IE] Website: http://www.mhhe.com/economics/schilleressentials6 Building on the tremendous success of their best-selling Principles of Economics text, Brue and McConnell have written a new one semester text to provide a fresh alternative. This new, 18chapter textbook will appeal to anyone teaching a one-semester introductory course. Brue/McConnell is a patient, substantive treatment of micro and macro economics for the one-semester course with many, up-to-date, motivating examples. Essentials of Economics is the market leader for the one-semester survey course. In just about 400 pages, it provides a solid introduction to the core concepts of economics with an emphasis on real-world examples and current events. Essentials has earned its popular success because, unlike other books on the market, it is free of the abstract and complex theory that requires more time than this course allows. Instead, the text is clean and concise, with many examples of significance to students today, including Headlines and Policy Perspectives that use current events to help illustrate the topics discussed. This real-world policy emphasis is a distinctive feature of Schiller’s text and is integral to its dominance of the survey text market. Features New to this edition An Entirely New Book, Not a “Cut and Paste” of McConnell/Brue. Many other textbooks in the principles markets create essentials books by simply providing a smaller number of the exact same chapters found in their companion, two-semester principles text. While this is quick and easy for the author, the student suffers from the bad transitions between topics and struggles with rigor that is often too high for the one-semester course. Brue/McConnell thoroughly reworks all topics so that chapter order, level of difficulty, and readability are more appropriate for the faster-paced essentials course. Full Updates Throughout the Text. Every chapter of the Sixth Edition of Schiller’s Essentials of Economics includes a myriad of updates including new and updated Policy Perspective discussions, recent headlines, and the latest data on topics such as college graduate salaries and growth and productivity. Website: http://www.mhhe.com/brueonline.com 26 New Discussions. The Sixth edition includes discussions on key topics of current economic interest, such as the redistributive role of the tax/transfer system in Chapter 9, and the Greenspan-Bernanke Economics transition and alternative strategies for monetary policy in Chapter 14, among others. Current Headlines. New articles on the impact of Hurricane Katrina on gasoline prices, transportation costs, and SUV sales; monopoly pricing at hub airports; the competitive price squeeze on laptop computers; the debate over arctic drilling; the earnings of college coaches; unrelenting tuition inflation; and the sugar lobby’s opposition to CAFTA have all been added to the Sixth edition. These new headlines will help to underscore the importance and relevance of economics in everyone’s lives and will motivate non-majors into conscientious study of the material. Features Policy Emphasis: Brad Schiller teaches economic principles in the context of the decisions that state, local, and federal governments face, thereby teaching students that the principles are relevant to the realworld and that they impact their lives every day. The book includes Policy Perspectives that demonstrate how economics influences policy. What the students learn in the course directly relates to what they hear on the news, and they are more motivated to learn as they see this real-world connection. “Living Econ” Feature: Building on the real-world emphasis of Essentials, Living Econ is a end-of-chapter section that promotes economic literacy by relating the chapter concepts to what is most important to every student: his or her own life. Created by Linda Wilson of the University of Texas at Arlington and Mark Maier of Glendale Community College, Living Econ explores provocative and relevant questions such as: How much will I earn? Why should I care about interest rates? Should I vote my pocketbook? How can I communicate with a large corporation? How come there aren’t enough levees? New FOUNDATIONS OF ECONOMICS 3rd Edition By David Begg, Principal of Tanaka Business School, Imperial College, University of London 2006 (March 2006) / 352 pages ISBN-13: 978-0-07-711423-7 / MHID: 0-07-711423-X McGraw-Hill UK Title Foundations of Economics, third edition is ideal for students taking introductory economics modules as part of an interdisciplinary course. Building on the success of the second edition, the book provides accessible overviews of key economic topics, interweaving these with real-world examples and practical activities to equip students to think for themselves. Features Topical and up-to-date material, presented alongside real-world examples and policy problems Mini case studies taken from disciplines such as construction, sport and computing, to demonstrate the practical application of economics Increased microeconomic coverage; including separate chapters on supply, demand and markets, to provide students with a thorough grounding in these fundamental areas By bringing the concepts alive, this section gives students the opportunity to consider why economics matters to them. This glimpse into the big picture will help them see what it takes to think like an economically-literate citizen. For those who want a bit more discussion of the topics in Living Econ, additional material can be found in the Study Guide. A revised structure to the macroeconomics section, beginning with growth, cycles, and issues, before introducing analysis and explanations Bulleted Chapter Summaries at the end of each chapter. These help students digest and review what they’ve read. Key terms, clearly defined throughout each chapter Terms to Remember appear at the end of each chapter to aid student retention. End-of-chapter Questions for Discussion and Problems provide student feedback and reinforce concepts. Web Activities send students out to the web to find real-life data and solve economic problems. Contents Section I: Basics Chapter 1 The Challenge of Economics Chapter 2 The U.S. Economy Chapter 3 Supply and Demand Section II: Microeconomics Chapter 4 Consumer Demand Chapter 5 Supply Decisions Chapter 6 Competition Chapter 7 Monopoly Chapter 8 The Labor Market Chapter 9 Government Intervention Section III: Macroeconomics Chapter 10 The Business Cycle Chapter 11 Aggregate Supply and Demand Chapter 12 Fiscal Policy Chapter 13 Money and Banks Chapter 14 Monetary Policy Chapter 15 Economic Growth Chapter 16 Theory and Reality Section IV: International Chapter 17 International Trade / Glossary / Index Learning outcomes and recaps in each chapter, allowing students to track their progress and understanding through the text Review questions and answers in each chapter, to test understanding and application of the topics covered An easy-to-navigate layout and design, with clearly signposted features and photos and figures to illustrate important concepts CONTENTS Preface. 1 What is economics? 2 Demand. 3 Supply. 4 Costs, supply and perfect competition. 5 Market structure and imperfect competition. 6 Input markets and income distribution. 7 Governing the market. 8 The income and output of nations. 9 Short-run fluctuations in income and output. 10 Interest rates, money, and inflation. 11 Aggregate supply, inflation, and unemployment. 12 Exchange rates and the balance of payments. 13 The global economy. Answers to Questions. Glossary 27 Economics Economics for Business New Economics Issues International Edition New ECONOMICS FOR BUSINESS 2nd Edition ISSUES IN ECONOMICS TODAY 3rd Edition By David Begg, University of London and Damian Ward, Bradford University 2006 (December 2006) / 432 pages ISBN-13: 978-0-07-711451-0 / MHID: 0-07-711451-5 By Robert Guell, Indiana State University 2007 (January 2006) / 448 pages ISBN-13: 978-0-07-313752-0 / MHID: 0-07-313752-9 ISBN-13: 978-0-07-110664-1 / MHID: 0-07-110664-2 [IE] McGraw-Hill UK Title Issues in Economics Today is a modern issues book that presents the latest and most interesting topics. Most importantly, this title was developed to allow instructors the maximum flexibility to teach this material in a manner that fits their personal style. Some professors like to intertwine theory and issues while others like to lay the theoretical foundation first before heading into the issues. Some faculty will choose to set a theme for their course and pick issues consistent with that theme while others will let their students decide what issues interest them. Beginning with eight intensive core theory chapters and followed by 33 shorter issues chapters, there is no right way to use the book. The 33 issues chapters are divided into the following categories: Macroeconomic Issues, International Issues, Externalities and Market Failure, Health Issues, Government Solutions to Societal Problems, Discrimination Issues, Price Control Issues, and Miscellaneous Markets. These groupings help instructors navigate through the Table of Contents when looking for a particular topic. This book also has the benefit of having timely web-available chapters that allow students to study issues as they happen. Between the time the first edition went to press and this edition became available, the accounting scandals of 2002 occurred. During the book’s first year the U.S. went to war in Iraq. Before this edition hit college bookstores, the Housing Bubble was of significant concern. Chapters discussing the economic impact of these events were available within a month of these events on the web. Economics for Business, second edition is an essential introduction to economics, tailor-made for business students. The text demonstrates the relevance of applying economic principles to solve business problems, using a unique approach that starts with the business problem before employing economics as the solution. Key economic theories are therefore clearly explained within the context of modern business, drawing on a wealth of contemporary examples to bring the topics to life. The supporting features and exercises allow students to consolidate their learning and equip them with the economic tools to confront real business situations. Features New coverage of auction theory, addressing this increasingly prolific topic with reference to the impact of internet auction sites such as eBay Revised macroeconomic coverage, signposting the major issues within a business orientation Fully updated European and international examples and cases, that allow students to engage with topics in a relevant context Improved pedagogical features, which integrate economic theory and business issues and check students’ learning as they progress through the text. A variety of exercises are provided to cater for different learning environments and abilities CONTENTS Part I: Introduction Chapter 1: Economics for business Part II: Understanding markets Chapter 2: Consumers in the market place Chapter 3: Firms in the market place Chapter 4: Markets in action Part III: Competition and profitability Chapter 5: Market structure and firm performance Chapter 6: Strategic rivalry Chapter 7: Growth strategies Chapter 8: Governing business Part IV: Domestic macroeconomics Chapter 9: Introduction to the macroeconomy Chapter 10: Measuring macroeconomic variables and policy issues Chapter 11: Economic stability and demand side policies Chapter 12: Supply side policies and economic growth Part V: Global economics Chapter 13: Exchange rates and the balance of payments Chapter 14: Globalization New to this edition New Chapters— New chapters examine the economic impact of Wal-Mart, the economic impact of casino gambling, and why college textbooks cost so much. These chapters, originally posted as web chapters to accompany the second edition, have been updated and expanded for inclusion in the textbook. Chapter 37: The Cost of War, uses the example of the recent War on Iraq and updates the material to focus on the occupation costs rather than simply the invasion. Similarly, Chapter 38: The Economics of Terrorism, uses the example of the September 11 attacks to examine the effects of terrorism on the national economy and how the government responded. In its revised form this chapter discusses subsequent terrorist acts, like the London bombings of July 2005 to emphasize important points. Combined Chapters— In response to reviewer feedback, the Gender and Race and Affirmative Action chapters from the second edition have been combined as Chapter 26: Gender, Race and Affirmative Action. In addition, the content of chapter on the Consumer Price Index was folded into Chapter 6’s discussion of problems with the measurement of inflation. Kick It up a Notch— This popular feature has been expanded to more chapters and encourages students to challenge themselves with slightly more advanced concepts. For those who want extra practice, this section contains additional material that can be found in the Study Guide. All new Quiz Yourself Questions— To counter homework banks, the text’s “Quiz Yourself,” “Talk About This,” and “Think About This” questions have been changed for chapters that date back to the first edition. 28 Economics Frequent Web Updates— New economic issues arise all the time and these Web chapters are posted throughout the life of the edition. The author is committed to continually posting issues that matter to today’s students. Features Conversational Writing Style— Students not majoring in economics appreciate and connect with the text’s writing style. Students feel at ease with the material allowing them to feel more confident. Chapter Outline and Chapter Objectives— Setting the stage at the beginning of each chapter, these features show students how the chapter is organized and what to anticipate in each chapter. Key Terms— Defined throughout the text in the margins, these terms are also included in the text’s Glossary. Summaries— Found at the end of each chapter, this material reinforces the chapter lessons. Issue Chapters You Are Ready for Now— This section can be found at the end of each theory chapter, and it directs students to the issues chapters that may interest them once they’ve mastered the necessary theoretical principles. Quiz Yourself— These questions are perfect for self-quizzing at the end of each chapter. Think About This— Provocative questions throughout the text encourage students to think about how economic theories apply to the real world. Talk About This— Several questions are included to trigger in-class or group discussions. For More Insight See— This feature guides readers to outside websites and publications to find additional material on a given topic. This feature keeps the course as fresh and current as today’s newspaper. Contents Chapter 1 Economics: The Study of Opportunity Cost. Chapter 2 Supply and Demand. Chapter 3 The Concept of Elasticity and Consumer and Producer Surplus. Chapter 4 Firm Production, Cost, and Revenue. Chapter 5 Perfect Competition, Monopoly, and Economic versus Normal Profit. Chapter 6 Every Macroeconomic Word You Ever Heard: Gross Domestic Product, Inflation, Unemployment, Recession, and Depression. Chapter 7 Interest Rates and Present Value. Chapter 8 Aggregate Demand and Aggregate Supply. Chapter 9 Federal Spending. Chapter 10 Federal Deficits, Surpluses, and the National Debt. Chapter 11 Fiscal Policy. Chapter 12 Monetary Policy. Chapter 13 International Trade: Does it Jeopardize American Jobs? Chapter 14 The International Monetary Fund: Doctor or Witch Doctor? Chapter 15 NAFTA, CAFTA, GATT, WTO: Are Trade Agreements Good for Us? Chapter 16 Tobacco, Alcohol, Drugs, and Prostitution. Chapter 17 The Environment. Chapter 18 Health Care. Chapter 19 Government Provided Health Insurance: Medicaid, Medicare, and the Child Health Insurance Program. Chapter 20 The Economics of Prescription Drugs. Chapter 21 The Economics of Crime. Chapter 22 Education. Chapter 23 Poverty and Welfare. Chapter 24 Social Security. Chapter 25 Head Start. Chapter 26 The Economics of Race and Sex Discrimination. Chapter 27 Farm Policy. Chapter 28 Minimum Wage. Chapter 29 Rent Control. Chapter 30 Ticket Brokers and Ticket Scalping. Chapter 31 Personal Income Taxes. Chapter 32 Antitrust. Chapter 33 Energy Prices. Chapter 34 If We Build It, Will They Come? And Other Sports Questions. Chapter 35 The Stock Market and Crashes. Chapter 36 Unions. Chapter 37 The Cost of War. Chapter 38 The Economics of Terrorism. Chapter 39 Wal-Mart: Always Low Prices (And Low Wages) – Always. Chapter 40 The Economic Impact of Casino Gambling. Chapter 41 Why College Textbooks Cost So Much. Chapter 42 Housing Bubble International Edition ECONOMICS OF SOCIAL ISSUES 17th Edition By Ansel M. Sharp, University of the South, Charles A. Register, Florida Atlantic University—Boca Raton and Paul W. Grimes, Mississippi State University – Mississippi State 2006 / 480 pages ISBN-13: 978-0-07-298435-4 / MHID: 0-07-298435-X ISBN-13: 978-0-07-111654-1 / MHID: 0-07-111654-0 [IE] Website: http://www.mhhe.com/economics/sharp17 Designed as an introduction to general economics for non-majors, Sharp/Register/Grimes’ Economics of Social Issues presents economic concepts as useful tools to analyze contemporary social issues. Each chapter presents economic concepts then places them within the context of very current issues facing society. The book may also be used to supplement principles courses with lively social issues to add relevance to the economic principles being taught. Contents 1. Alleviating Human Misery: The Role of Economic Reasoning 2. Economic Systems, Resource Allocation, and Social Well-Being: Lessons from China’s Transition 3. Government Control of Prices in Mixed Systems: What Are the Actual Outcomes 4. Pollution Problems: Must We Foul Our Own Nests? 5. Economics of Crime and Its Prevention: How Much Is Too Much? 6. The Economics of Education: Crisis and Reform 7. Poverty Problems and Discrimination: Why Are So Many Still So Poor? 8. The Economics of Big Business: Who Does What to Whom?9. The Economics of Professional Sports: What Is the Real Score? 10. Protectionism Versus Free Trade: Can We Restrict Ourselves into Prosperity? 11. Unemployment Issues: Why Do We Waste Our Labor Resources? 12. Inflation: How to Gain and Lose at the Same Time13. Economic Growth: Are We Living in a “New Economy”? 14. Government Spending, Taxing, and the National Debt: Who Wins and Who Loses? 15. Social Security and Medicare: How Secure Is Our Safety Net for the Elderly? TAKING SIDES: Clashing Views on Controversial Economic Issues 12th Edition By Frank J Bonello, University of Notre Dame 2006 / 448 pages ISBN-13: 978-0-07-312952-5 / MHID: 0-07-312952-6 A McGraw-Hill/Dushkin Title Website: http://www.dushkin.com/text/catalog/0073129526 This debate-style reader is designed to introduce students to controversies in global issues through readings that reflect a variety of viewpoints. Each issue is framed with an issue summary, an issue introduction, and a postscript. The Taking Sides readers feature annotated listings of selected World Wide Web sites. Taking Sides is supported by our student website at www. dushkin.com/online/. Contents PART 1. Microeconomic Issues ISSUE 1. Are Profits the Only Business of Business? New! ISSUE 2. Should the Regulations Regarding Overtime Pay Be Changed? ISSUE 3. Is There Discrimination in U.S. Labor Markets? New! ISSUE 4. Will the Medicare Modernization Act of 2003 and Its Drug Discount Cards Lower the Cost of Prescription Drugs for Seniors? ISSUE 5. Should Markets Be Allowed to Solve the Shortage in Body Parts? ISSUE 6. Is It Time to Reform Medical Malpractice Litigation? PART 2. Macroeconomic Issues New! ISSUE 7. Is Wal-Mart Good for the Economy? New! ISSUE 8. Should Social Security Be Changed to Include Personal Retirement Accounts? New! ISSUE 9. Should the Double Taxation of Corporate Dividends Be Eliminated? New! ISSUE 10. Are Credit Card Companies Exploiting American Consumers? ISSUE 29 Economics 11. Is It Time to Abolish the Minimum Wage? ISSUE 12. Are Declining Caseloads a Sign of Successful Welfare Reform? PART 3. The World Around Us ISSUE 13. Are Protectionist Policies Bad for America? ISSUE 14. Should We Sweat About Sweatshops? ISSUE 15. Are the Costs of Global Warming Too High to Ignore? New! ISSUE 16. Do Living Wage Laws Improve Economic Conditions in Cities? ISSUE 17. Has the North American Free Trade Agreement Hurt the American Economy? New! ISSUE 18. Is the No Child Left Behind Act Working? MACROECONOMICS 2nd Edition Intermediate Macroeconomics McGraw-Hill Australia Title New By Rudiger Dornbusch (deceased), Philip Bodman, University of Queensland, Mark Crosby, Melbourne Business School, Stanley Fischer, Mass Institute of Tech and Richard Startz, University of Washington 2006 (February 2006) ISBN-13: 978-0-07-471568-0 / MHID: 0-07-471568-2 Website: http://www.mhhe.com/au/dornbusch2e International Edition macroeconomics 2nd Edition By Bradford DeLong, University of California—Berkeley 2006 / 544 pages ISBN-13: 978-0-07-287758-8 / MHID: 0-07-287758-8 ISBN-13: 978-0-07-111113-3 / MHID: 0-07-111113-1 [IE] Website: http://www.mhhe.com/economics/delong2 Macroeconomics 2e offers a new approach to the subject. Drawing upon vast experience teaching, researching, and advising the U.S. government on policy has enabled the authors to write an intermediate macroeconomics book that will set the standard for books in this area for years to come. For example, DeLong/Olney focuses on the interest rate rather than the AS/AD diagram and includes expanded coverage of the crucial topic of long-run growth. This lively text is modern, provides extensive insight into economic policy, incorporates a strong international perspective, and offers a broad historical perspective. Contents Part I Preliminaries 1 Introduction to Macroeconomics 2 Measuring the Macroeconomy 3 Thinking Like an Economist Part II Long-Run Economic Growth 4 The Theory of Economic Growth 5 The Reality of Economic Growth: History and Prospect Part III Flexible-Price Macroeconomics 6 Building Blocks of the Flexible-Price Model 7 Equilibrium in the Flexible-Price Model 8 Money, Prices, and Inflation Part IV Sticky-Price Macroeconomics 9 The Sticky-Price Income-Expenditure Framework: Consumption and the Multiplier 10 Investment, Net Exports, and Interest Rates: The IS Curve 11 The Money Market and the LM Curve 12 The Phillips Curve and Expectations Part V Macroeconomic Policy 13 Stabilization Policy: The Budget Balance, the National Debt, and Investment International Economic Policy 14 Changes in the Macroeconomy and Changes in Macroeconomic Policy 15 The Future of Macroeconomics / Epiloge 30 This new edition of Macroeconomics has been thoroughly revised and updated by respected author team Philip Bodman and Mark Crosby. The book maintains many of the bestselling features of its US counterpart, such as the focus on models and methodological frameworks for economic analysis, while including currently policy issues using a blend of theory and data, combined with new examples and real world material. Pedagigical features are significantly enhanced and material is presented in a clear and accessible manner. New to this edition Two New Chapters: In response to market feedback, two entirely new chapters have been added--Chapter 17 on Inflation and Chapter 18 on Unemployment. International Perspective: This edition retains its international perspective with particular focus on the economies of Asia. Extensive analysis is given to the interactions and interdependencies of the Australian economy with those overseas. Additionally, two detailed chapters (Cahpters 10 and 11) are devoted to discussing international linkages. Models and Data: Students are provided with a rich toolbox of simple models for analysing today’s economic events. In addition to the already extensive examples and data, cutting-edge research has been included to add depth and breadth to their study. Pedagogical Enhancement Contents Part 1, Introduction and National Income Accounting Ch 1, An introduction to macroeconomics Ch 2, National income accounting Part 2, Growth and Aggregate Supply and Demand Ch 3, Growth and accumulation Ch 4, Growth and policy Ch 5, Aggregate supply and demand Ch 6, Aggregate supply: wages, prices and unemployment Part 3, Early Models Ch 7, Income and Spending Ch 8, Money, interest and income Ch 9, Monetary and fiscal policy in the closed economy Part 4, Open Economy Macroeconomics Ch 10, Internatioanl linkages Ch 11, International adjustment and interdependence Part 5, Behavioural Foundations Ch 12, Consumption and saving Ch 13, Investment spending Ch 14, The demand for money Ch 15, The RBA, money and credit Ch 16, Financial markets Part 6, Big Issues, Economic Policy and Advanced Topics Ch 17, Big issues #1: Inflation Ch 18, Big issues #2: Unemployment Ch 19, Policy in an uncertain world Ch 20, Advanced topics Economics International Edition MACROECONOMICS 9th Edition By Rudiger Dornbusch(Deceased), Stanley Fischer, Massachusetts Institute of Technology and Richard Startz, University of Washington 2004 / 550 pages ISBN-13: 978-0-07-293917-0 / MHID: 0-07-293917-6 (with Economagic, Mandatory Package) ISBN-13: 978-0-07-123237-1 / MHID: 0-07-123237-0 [IE with Economagic Card] Website: http://www.mhhe.com/economics/dornbusch9 Dornbusch, Fischer, and Startz has been a long-standing, leading intermediate macroeconomic theory text since its introduction in 1978. This revision retains most of the text’s traditional features, including a middle-of-the-road approach and very current research, while updating and simplifying the exposition. This revision focuses on making the text even easier to teach from. The only pre-requisite continues to be principles of economics. CONTENTS Part I: Introduction and National Income Accounting Chapter 1: Introduction Chapter 2: National Income Accounting Part II: Growth, Aggregate Supply and Demand, and Policy Chapter 3: Growth and Accumulation Chapter 4: Growth and Policy Chapter 5: Aggregate Supply and Demand Chapter 6: Aggregate Supply: Wages, Prices, and Unemployment Chapter 7: The Anatomy of Inflation and Unemployment Chapter 8: Policy Part III: First Models Chapter 9: Income and Spending Chapter 10: Money, Interest, and Income Chapter 11: Monetary and Fiscal Policy Chapter 12: International Linkages Part IV: Behavioral Foundations Chapter 13: Consumption and Saving Chapter 14: Investment Spending Chapter 15: The Demand for Money Chapter 16: The Fed, Money, and Credit Chapter 17: Financial Markets and Asset Prices Part V: Big Events, International Adjustments, and Advanced Topics Chapter 18: Big Events: The Economics of Depression, Hyperinflation, and Deficits Chapter 19: International Adjustment and Interdependence Chapter 20: Advanced Topics Intermediate Microeconomics International Edition Contents Part 1: Introduction 1 Thinking Like an Economist 2 Supply and Demand Appendix: How Do Taxes Affect Equilibrium Prices and Quantities? Part 2: The Theory of Consumer Behavior 3 Rational Consumer Choice Appendix: The Utility Function Approach to the Consumer Budgeting Problem 4 Individual and Market Demand Appendix: Additional Topics in Demand Theory 5 Applications of Rational Choice and Demand Theories 6 The Economics of Information and Choice Under Uncertainty Appendix: Search Theory and the Winner’s Curse 7 Explaining Tastes: The Importance of Altruism and Other Non-egoistic Behavior 8 Cognitive Limitations and Consumer Behavior Part 3: The Theory of the Firm and Market Structure 9 Production Appendix: Mathematical Extensions of Production Theory 10 Costs Appendix: Mathematical Extensions of the Theory of Costs 11 Perfect Competition 12 Monopoly 13 Imperfect Competition: A Game-Theoretic Approach Part 4: Factor Markets 14 Labor Appendix: The Economics of Workplace Safety 15 Capital Appendix: A More Detailed Look at Exhaustible Resource Allocation Part 5: General Equilibrium and Welfare 16 General Equilibrium and Market Efficiency 17 Externalities, Property Rights, and the Coase Theorem 18 Government MICROECONOMICS By Katz Morgan, University of Nottingham, Michael L Katz, University of California-Berkeley and Harvey S Rosen, Princeton University 2005 / 650 pages ISBN-13: 978-0-07-710907-3 / MHID: 0-07-710907-4 McGraw-Hill UK Title Website: http://www.mcgraw-hill.co.uk/textbooks/morgan Microeconomics, European Edition offers comprehensive coverage of microeconomic theory, explaining how this is used to analyse and evaluate contemporary market systems. This European edition has been adapted from the well-established US text, to provide a thoroughly European approach to the subject. The book draws on relevant real world examples to highlight how theory can help to solve or understand a range of problems and is a central basis for thinking like an economist. contents Chapter 1: The Market Economy. Part One: The Household. Chapter 2: Consumer Choice. Chapter 3: Comparative Statics and Demand. Chapter 4: Price Changes and Consumer Welfare. Chapter 5: The Household as Supplier. Chapter 6: Choice under Uncertainty. Part Two: The firm. Chapter 7: The Firm and It’s Goal. Chapter 8: Technology and Production. Chapter 9: Cost. Part Three: The Competitive Model. Chapter 10: The Price-Taking Firm. Chapter 11: Equilibrium in Competitive Markets. Chapter 12: General Equilibrium and Welfare Economics. Part Four: Market Power. Chapter 13: Monopoly. Chapter 14: More on PriceMaking Firms. Chapter 15: Oligopoly and Strategic Behaviour. Chapter 16: Game Theory. Part Five: Missing Markets. Chapter 17: Asymmetric Information. Chapter 18: Externalities and Public Goods MICROECONOMICS AND BEHAVIOR 6th Edition By Robert H. Frank, Cornell University 2006 / 720 pages ISBN-13: 978-0-07-297745-5 / MHID: 0-07-297745-0 ISBN-13: 978-0-07-111549-5 / MHID: 0-07-111549-8 [IE] Website: http://www.mhhe.com/economics/frank6 Robert Frank’s Microeconomics and Behavior covers the essential topics of microeconomics while exploring the relationship between economics analysis and human behavior. The book’s clear narrative appeals to students, and its numerous examples help students develop economic intuition. This book introduces modern topics not often found in intermediate textbooks. Its focus throughout is to develop a student’s capacity to “think like an economist.” 31 Economics International Edition International Edition MICROECONOMICS 3rd Edition By Michael L Katz, University of California, Berkeley, and Harvey S Rosen, Princeton University 1998 / 672 pages ISBN-13: 978-0-256-17176-1 / MHID: 0-256-17176-9 ISBN-13: 978-0-07-124327-8 / MHID: 0-07-124327-5 [IE] CONTENTS Chapter 1 The Market Economy. Part I The Household: Chapter 2 Consumer Choice. Chapter 3 Comparative Statics and Demand. Chapter 4 Price Changes and Consumer welfare. Chapter 5 The Household as Supplier. Chapter 6 Choice Under Uncertainty. Part II The Firm: Chapter 7 The Firm and Its Goals. Chapter 8 Technology and Production. Chapter 9 Cost. Part III The Competitive Model: Chapter 10 The Price-Taking Firm. Chapter 11 Equilibrium in Competitive Markets. Chapter 12 General Equilibrium and Welfare Economics. Part IV Market Power: Chapter 13 Monopoly. Chapter 14 More on Price-Making Firms. Chapter 15 Oligopoly and Strategic Behavior. Chapter 16 Game Theory. Chapter 17 Asymmetric Information. Chapter 18 Externalities and Public Goods. Managerial Economics International Edition New MANAGERIAL ECONOMICS 9th Edition By Christopher R Thomas, University of South Florida and S Charles Maurice (Deceased) 2008 (March 2007) / 704 pages ISBN-13: 978-0-07-340281-9 / MHID: 0-07-340281-8 ISBN-13: 978-0-07-110148-6 / MHID: 0-07-110148-9 [IE] Website: http://www.mhhe.com/thomas9 (Details unavailable at press time) New MANAGERIAL ECONOMICS AND ORGANIZATIONAL ARCHITECTURE 4th Edition By James Brickley, and Clifford Smith, University of Rochester, and Jerold Zimmerman, University of Rochester 2007 (May 2006) / 704 pages ISBN-13: 978-0-07-352301-9 / MHID: 0-07-352301-1 ISBN-13: 978-0-07-110633-7 / MHID: 0-07-110633-2 [IE] With two distinct objectives, this text’s approach to managerial economics takes models from recent economics research and applies the research to the internal structure of a firm. After teaching basic applied economics, the authors look inside the firm and apply this analysis to management decision making. Authors Brickley, Smith, and Zimmerman contend that organizational architecture consists of three aspects of corporate organization: the assignment of decision rights within the company; methods of rewarding individuals; the structure of systems to evaluate the performance of both individuals and business units. These three components can be likened to a stool with three legs. If one of the legs is shorter, the stool is out of balance. These three elements must be in balance in the organization as well. New to this edition A new chapter on Corporate Governance: This new chapter uses the organizational architecture framework to provide an integrated and comprehensive analysis of corporate governance. The chapter covers the causes and implications of contemporary governance scandals, provides examples of international corporate governance models, and explores the effects of the Sarbanes-Oxley Act. Boxed examples include the WorldCom and Tyco scandals, Hewlett Packard’s firing of former CEO Carly Fiorina, and commercial bank prepay transactions. The chapter includes an appendix entitled, Choosing Among the Legal Forms of Organization. A basic microeconomics focus is maintained and enhanced: Through the use of applied, real-world management problems, coverage of important topics in managerial economics is increased to include examples such as: consumer behavior and demand, comparative advantage, consumer and producer surplus, and supply and demand analysis. Organizational Economics topics have been updated: These updates reflect the review of economic literature on incentives as well as expanded analysis of self selection in labor markets. New applications include a mini-case on Apple Computer’s pricing policies for digital music and examples of the effects of Hurricane Katrina and increased gasoline prices. Features Creating and Capturing Value: A unique feature for managerial economics texts, this edition continues to address the fundamental question of how firms capture value, what industries they should compete in, and how they should compete. It is particularly useful to business students and managers. COMPLIMENTARY COPIES Complimentary desk copies are available for course adoption only. Kindly contact your local McGraw-Hill Representative or fax the Examination Copy Request Form available on the back pages of this catalog. Visit McGraw-Hill Education Website: www.mheducation.com 32 Game Theory: Both theoretically sound and replete with realistic examples, virtually all the game theory discussions featured are framed in managerial terms and the game theory tools are explicitly used to understand business problems. This is a topic all modern applied economics texts include and will be popular with instructors. Choosing the Legal Form of Organization: The legal form of organization is a policy choice. For example, nonprofit hospitals sometimes change to for-profit organizations (and vice versa), mutual companies become stock companies, franchised units become company-owned units and so on. This appendix presents an economic analysis of the legal form of organization. Economics Extended case study on Arthur Anderson: The extensive examples throughout the book have dozens of recent business applications. A capstone case study on Arthur Anderson provides a format for integrative discussion. Integrated website: The book website includes experiential activities, online auctions, in-class games, PowerPoint presentations, and fill-in-the-blank exercises, teaching tips, and links to additional case studies. in the Marketplace 15 Challenges at Time Warner: A Case Study in Business Strategy New Contents Part 1: Basic Concepts. Chapter 1 Introduction. Chapter 2 Economist’s View of Behavior. Chapter 3 Markets, Organizations, and the Role of Knowledge. Part 2: Managerial Economics. Chapter 4 Demand. Chapter 5 Production and Cost. Chapter 6 Market Structure. Chapter 7 Pricing with Market Power. Chapter 8 Economics of Strategy: Creating and Capturing Value. Chapter 9 Economics of Strategy: Game Theory. Chapter 10 Incentive Conflicts and Contracts. Part 3: Designing Organizational Architecture. Chapter 11 Organizational Architecture. Chapter 12 Decision Rights: The Level of Empowerment. Chapter 13 Decision Rights: Bundling Tasks into Jobs and Subunits. Chapter 14 Attracting and Retaining Qualified Employees. Chapter 15 Incentive Compensation. Chapter 16 Individual Performance Evaluation. Chapter 17 Divisional Performance Evaluation. Capstone Case Study on Organizational Architecture: Arthur Anderson LLP. Part 4: Applications of Organizational Architecture. Chapter 18 Corporate Governance. Chapter 19 Vertical Integration and Outsourcing. Chapter 20 Leadership: Motivating Change within Organizations. Chapter 21 Understanding the Business Environment: The Economics of Regulation. Chapter 22 Ethics and Organizational Architecture. Chapter 23 Organizational Architecture and the Process of Management Innovation THE ECONOMICS OF ORGANIZATIONS AND STRATEGY By Sean Richard, Cranfield 2006 (March 2006) / 512 pages ISBN-13: 978-0-07-710813-7 / MHID: 0-07-710813-2 McGraw-Hill UK Title To operate as a successful manager requires an economic way of thinking, in particular a clear focus on efficiency and the working of markets. The Economics of Organizations and Strategy integrates business strategy within an economics framework, to give an economic perspective on areas of business such as organizational behaviour, marketing, finance, human resources and operations management. The book opens with an in-depth treatment of key microeconomic theories and concepts. It then builds on these introductory topics to show how a firm’s external business environment influences and constrains strategy formulation and behaviour, before moving on to analyse the firm as an organization. Drawing on microeconomic theories and concepts, variations in management structures are explained; for example, decision making hierarchies, reward systems and organizational boundaries. FEATURES International Edition MANAGERIAL ECONOMICS AND BUSINESS STRATEGY 5th Edition By Michael Baye, Indiana University-Bloomington 2006 ISBN-13: 978-0-07-305019-5 / MHID: 0-07-305019-9 (with Data Disk) ISBN-13: 978-0-07-124421-3 / MHID: 0-07-124421-2 [IE with Disk] Website: http://www.mhhe.com/economics/baye5e Baye’s Managerial Economics and Business Strategy has become the best-selling managerial economics textbook. It was the first textbook to blend tools from intermediate microeconomics, game theory, and industrial organization for a managerial economics text. Baye is known for its balanced coverage of traditional and modern topics, and the Fifth Edition continues to offer the diverse managerial economics marketplace a flexible and up-to-date textbook. Baye offers coverage of both the basic concepts of managerial economics as well as frontier research in his chapter on advanced topics. The Fifth Edition also offers a detailed, real-world case study that explains how book theory translates into action in the business world. And the Data CD that comes with each book also contains eight “mini cases” that cover such high-profile businesses as Microsoft, Visa, and Staples. Coverage of European competition policy Integration of economic and game theoretic models to demonstrate strategic conflict and cooperation Up-to-date business examples to demonstrate the application of theory in a ‘real-world’ context Exercises that encourage students to work through business problems relevant to a prospective management role A clear writing style that presents complex ideas in an accessible manner CONTENTS Part 1: Introduction Chapter 1 ~ Economic Organisations, Games and Strategies Part 2: The Firm and the Creation of Value Chapter 2 ~ Alternative Approaches to the Firm Chapter 3 ~ Vertical and Virtual Boundaries Chapter 4 ~ Horizontal boundaries and Diversification Chapter 5 ~ Growth and Entrepreneurship Chapter 6 ~ Corporate Control and Organisational Design Chapter 7 ~ Incentives and Human Resource Management Part 3: Capturing Value from the Market Chapter 8 ~ Market Structure and the Strategic Environment Chapter 9 ~ Imperfect Competition and Government Intervention Chapter 10 ~ The Dominant Firm and Predation Chapter 11 ~ Price Discrimination and Bundling Chapter 12 ~ Reputation and Vertical Restraints Chapter 13 ~ Product Differentiation and Advertising Chapter 14 ~ Invention, Innovation and Competitive Advantage Contents 1 The Fundamentals of Managerial Economics 2 Market Forces: Demand and Supply 3 Quantitative Demand Analysis 4 The Theory of Individual Behavior 5 The Production Process and Costs 6 The Organization of the Firm 7 The Nature of Industry 8 Managing in Competitive, Monopolistic, and Monopolistically Competitive Markets 9 Basic Oligopoly Models 10 Game Theory: Inside Oligopoly 11 Pricing Strategies for Firms with Market Power 12 The Economics of Information 13 Advanced Topics in Business Strategy 14 A Manager’s Guide to Government 33 Economics International Edition MANAGERIAL ECONOMICS 8th Edition By Christopher R Thomas, University of South Florida and S Charles Maurice (Deceased) 2005 / 720 pages ISBN-13: 978-0-07-287174-6 / MHID: 0-07-287174-1 ISBN-13: 978-0-07-123834-2 / MHID: 0-07-123834-4 [IE] Website: http://www.mhhe.com/economics/thomas8 Policies: Liability Laws, Property Rights, Voluntary Action 11 Command-and-Control Strategies: The Case of Standards 12 IncentiveBased Strategies: Emission Charges and Subsidies 13 Incentive-Based Strategies: Transferable Discharge Permits Section 5 – Environmental Policy in the United States 14 Federal Water Pollution – Control Policy 15 Federal Air Pollution – Control Policy 16 Federal Policy on Toxic and Hazardous Substances 17 State and Local Environmental Issues Section 6 – International Environmental Issues 18 Comparative Environmental Policies 19 Economic Development and the Environment 20 The Global Environment 21 International Environmental Agreements / Appendix: Abbreviations and Acronyms Used in the Book / Name Index / Subject Index Thomas and Maurice’s Managerial Economics teaches students how to use microeconomic theory to analyze business decisions. In a clear and engaging writing style, Christopher Thomas carries on the tradition he and Charles Maurice shepherded for seven previous editions in the 8th edition. The 8th Edition explores the current market forces that create both opportunities and constraints for business enterprises. The book has enjoyed success in part because of its mid-level of rigor. Econometrics CONTENTS PREFACE / Part I: Some Preliminaries CHAPTER 1 Managers, Profits, and Markets CHAPTER 2 Demand, Supply, and Market Equilibrium CHAPTER 3 Marginal Analysis for Optimal Decision Making CHAPTER 4 Basic Estimation Techniques Part II: Demand Analysis CHAPTER 5 Theory of Consumer Behavior CHAPTER 6 Elasticity and Demand CHAPTER 7 Demand Estimation and Forecasting Part III: Production and Cost Analysis CHAPTER 8 Production and Cost in the Short Run CHAPTER 9 Production and Cost in the Long Run CHAPTER 10 Production and Cost Estimation On the website: Special Topic Module 1: Linear Programming Part IV: Profit-Maximization in Various Market Structures CHAPTER 11 Managerial Decisions in Competitive Markets CHAPTER 12 Managerial Decisions for Firms with Market Power CHAPTER 13 Strategic Decision Making in Oligopoly Markets Part V: Advanced Managerial Decision Making CHAPTER 14 Advanced Techniques for Profit Maximization CHAPTER 15 Decisions Under Risk and Uncertainty On the website: Special Topic Module 2: Investment Decisions / APPENDIX: STATISTICAL TABLES ANSWERS TO TECHNICAL PROBLEMS INDEX Environmental Economics International Edition ENVIRONMENTAL ECONOMICS 4th Edition By Barry C. Field, University of Massachusetts-Amherst and Martha K Field, Greenfield Comm College 2006 / 528 pages ISBN-13: 978-0-07-313751-3 / MHID: 0-07-313751-0 ISBN-13: 978-0-07-125585-1 / MHID: 0-07-125585-0 [IE] Twenty-one chapters covering Cost and Benefits of Environmental Policy, Environmental Analysis, Policy Analysis, US Policy (Air Pollution, Toxic Wastes, State and Local Issues), and International Environmental Issues. CONTENTS Section 1 – Introduction 1 What is Environmental Economics? 2 The Economy and the Environment Section 2 – Analytical Tools 3 Benefits and Costs, Supply and Demand 4 Economic Efficiency and Markets 5 The Economics of Environmental Quality Section 3 – Environmental Analysis 6 Frameworks of Analysis 7 Benefit-Cost Analysis: Benefits 8 Benefit-Cost Analysis: Costs Section 4 – Environmental Policy Analysis 9 Criteria for Evaluating Environmental Policies 10 Decentralized 34 International Edition ESSENTIALS OF ECONOMETRICS 3rd Edition By Damodar N Gujarati, United States Military Academy West Point 2006 / 544 pages ISBN-13: 978-0-07-313594-6 / MHID: 0-07-313594-1 (with Data Disk CD) ISBN-13: 978-0-07-124448-0 / MHID: 0-07-124448-4 [IE with Data CD] Website: http://www.mhhe.com/economics/gujaratiess3 This text provides a simple and straightforward introduction to econometrics for the beginner. The author’s intent is to provide the student with a “user friendly,” non-intimidating introduction to econometric theory and techniques. The book motives students to understand econometric techniques through extensive examples, careful explanations, and a wide variety of problem material. The audience is undergraduate economics, agricultural economics, and business administration majors, MBA students and others in the social and behavioral sciences where econometric techniques, especially the techniques of linear regression analysis, are used. Contents Chapter 1 The Nature and Scope of Econometrics PART I Basics of Probability and Statistics Chapter 2 Review of Statistics I: Probability and Probability Distributions Chapter 3 Characteristics of Probability Distributions Chapter 4 Some Important Probability Distributions Chapter 5 Statistical Inference: Estimation and Hypothesis Testing PART II The Linear Regression Model Chapter 6 Basic Ideas of Linear Regression: The Two-Variable Model Chapter 7 The Two-Variable Model: Hypothesis Testing Chapter 8 Multiple Regression: Estimation and Hypothesis Testing Chapter 9 Functional Forms of Regression Models Chapter 10 Dummy Variable Regression Models Chapter 11 Model Selection: Criteria and Tests PART III Regression Analysis In Practice Chapter 12 Multicollinearity: What Happens if Explanatory Variable Are Correlated Chapter 13 Heteroscedasticity: What Happens If The Error Variance Is Nonconstant Chapter 14 Autocorrelation: What Happens If Error Terms Are Correlated PART IV Introduction to Simultaneous Equation Models Chapter 15 Simultaneous Equation Models Chapter 16 Selected Topics in Single Equation Regression Models Economics ECONOMETRICS By Cameron 2005 / 480 pages ISBN-13: 978-0-07-710428-3 / MHID: 0-07-710428-5 (with CD and Online Learning Center) Chapter 14 Estimating multiple equations Part 6: Advanced Topics Chapter 15 Endogenous variables Chapter 16 Forecasting Chapter 17 Time series analysis Chapter 18 Nonlinear models Chapter 19 Dummy dependent variables Chapter 20 General discrete choice models McGraw-Hill UK Title Website: www.mcgraw-hill/textbooks/cameron Econometrics aims to introduce students with little or no previous experience in econometrics to this important discipline. This text focuses on explaining why econometrics exists and how it can be used in everyday life. This text adopts a strong student-focused approach to the discipline. In doing so, it aims to address fundamental issues in econometrics in an accessible manner for students, who are often put off by the difficult nature of econometrics. CONTENTS Chapter 1: Introducing Econometrics Chapter 2: Statistical Testing and Modelling: The Basics Chapter 3: The Classical Linear Regression Model Introduced Chapter 4: Preparing and Using Data Chapter 5: What do all these tests and statistics mean? Chapter 6: Making Regression Analysis More Useful I: Transformation Chapter 7: Making Regression Analysis More Useful II: Dummies and Trends Chapter 8: Predicting and Explaining Discrete Events: Logit and Probit Models Chapter 9: More Tests: Diagnosing the results of basic models Chapter 10: Multicollinearity: Serious Worry or Minor Nuisance? Chapter 11: Problem Solving: Heteroscedasticity Chapter 12: Multiple equation models: Specification and the Identification Problem Chapter 13: Multiple equation models: Methods of Estimation Chapter 14: Problem Solving: Time-Series Chapter 15: Conclusion Appendices: Blank Template of Summary Sheet for Review Studies./ Brief Description of the Excel files of Data Sets./ The Notion of Causality / 4 Statistical Tables / 5 Probability / 6 Standard error of the regression coefficient / 7 Derivation of the normal equations for a multiple regression mode International Edition ECONOMETRICS By Stephen Schmidt, Union College 2005 (March 2004) / 524 pages ISBN-13: 978-0-07-298316-6 / MHID: 0-07-298316-7 (with Data CD) - Out of print ISBN-13: 978-0-07-320030-9 / MHID: 0-07-320030-1 (Revised, with Data CD) - Out of Print ISBN-13: 978-0-07-111396-0 / MHID: 0-07-111396-7 [IE with Data CD] Website: http://www.mhhe.com/economics/schmidt1 Stephen Schmidt is a superb and dedicated professor at a very good, liberal arts college, (Union in Schenectady, NY). After obtaining a PhD in Economics from Stanford University and teaching for 8 years, he has now written the book he has always wanted to write and use—an econometrics book that excites and motivates students about the value of statistical analysis in economics and gives them all of the tools they will need to do this analysis themselves. The goal of this book is to show students that econometric analysis is the bridge that connects economic theory with economic policy. CONTENTS Part 1: Econometric Analysis Chapter 1 Introduction Chapter 2 Designing an econometric project Part 2: Probability and Statistics Chapter 3 Random variables Chapter 4 Estimation Chapter 5 Hypothesis testing Part 3: Linear Regression Chapter 6 Least Squares Regression Chapter 7 Properties of the least squares estimator Chapter 8 Multivariate regression Part 4: Topics in Linear Regression Chapter 9 Selecting a Functional Form Chapter 10 Determining the econometric specification Chapter 11 Instability of the regression equation Part 5: Violations of the Regression Model Chapter 12 Autocorrelation Chapter 13 Heteroskedasticity International Edition BASIC ECONOMETRICS 4th Edition By Damodar N Gujarati, United States Military Academy West Point 2003 ISBN-13: 978-0-07-247852-5 / MHID: 0-07-247852-7 (with Data Disk, Mandatory Pacakge) ISBN-13: 978-0-07-123017-9 / MHID: 0-07-123017-3 [IE with CD] Website: http://www.mhhe.com/economics/gujarati4 CONTENTS 1. The Nature of Regression Analysis. 2. Two-Variable Regression Analysis: Some Basic Ideas. 3. Two Variable Regression Model: The Problem of Estimation. 4. The Normality Assumption: Classical Normal Linear Regression Model. 5. Two-Variable Regression: Interval Estimation and Hypothesis Testing. 6. Extensions of the Two-Variable Linear Regression Model. 7. Multiple Regression Analysis: The Problem of Estimation. 8. Multiple Regression Analysis: The Problem of Inference. 9. Regression on Dummy variables. 10. Multicollinearity: What happens if the Regressor are correlated. 11. Heteroscedasticity. 12. Autocorrelation. 13. Econometric Modeling I: Traditional Econometric Methodology. 14. Econometric Modeling II: Alternative Econometric Methodologies. 15. Regression on Dummy Dependent Variable: The LPM, Probit, and Tobit Models 16. Nominal Ordinal and other Limited Dependent Variable regression models. 17. Dynamic Econometric Model: Autoregressive and Distributed Lag Models. 18. Simultaneous-Equation Models. 19. The Identification Problem. 20. Simultaneous-Equation Methods. 21. Time Series Econometrics I: Stationarity, Unit Roots, and Cointegration. 22. Time Series Econometrics II: ARIMA and VAR Models. 23. Nonlinear in the Parameter Regression Models 24. Panel Data Regression Models Appendixes A. A Review of Some Statistical Concepts B. Rudiments of Matrix Algebra C. Linear Regression Model in Matrix Notation D. Statistical Tables Selected Bibliography Indexes: Name Index / Subject Index SCHAUM’S OUTLINE OF STATISTICS AND ECONOMETRICS 2nd Edition By Dominick Salvatore and Derrick Reagle of Fordham University 2002 / 256 pages ISBN-13: 978-0-07-134852-2 / MHID: 0-07-134852-2 A Schaum Publication CONTENTS Introduction. / Descriptive Statistics. / Probability and Probability Distributions. / Statistics Inference: Estimation. / Statistical Inference: Testing Hypothesis. / Statistics Examination. / Simple Regression Analysis. / Multiple Regression Analysis. / Problems in Regression Analysis. / Further Techniques and Applications in Regression Analysis. / SimultaneousEquations Methods. / Time Series Econometrics. / Statistics Examination. / Bionomial Distribution. / Poisson Distribution. / Standard Normal Distribution. / Table of Random Numbers. / Student t Distribution. / Chi-Square Distribution. / F Distribution. / Durbin-Watson Statistics. / Critical Values of Runs in the Run Tests. 35 Economics International Edition ECONOMETRIC MODELS AND ECONOMIC FORECASTS 4th Edition By Robert S Pindyck, Massachusetts Institute of Technology and Daniel L Rubinfeld, University of California, Berkeley 1998 ISBN-13: 978-0-07-913292-5 / MHID: 0-07-913292-8 ISBN-13: 978-0-07-115836-7 / MHID: 0-07-115836-7 [IE] CONTENTS The Basics of Regression Analysis: Chapter 1. Introduction to the Regression Model. Chapter 2. Elementary Statistics. Chapter 3. The Two-Variable Regression Model. Chapter 4. The Multiple Regression Model. Chapter 5. Using the Multiple Regression Model. Chapter 6. Serial Correlation and Heterosedasticity. Chapter 7. Instrumental Variables and Model Specification. Chapter 8. Forecasting with a Single-Equation Regression Model. Chapter 9. Single-Equation Estimation. Chapter 10. Nonlinear and Maximum-Likelihood Estimation. Mathematical Economics SCHAUM’S EASY OUTLINE OF INTRODUCTION TO MATHEMATICAL ECONOMICS By Edward T Dowling, Fordham University 2006 / 160 pages ISBN-13: 978-0-07-145534-3 / MHID: 0-07-145534-5 A Schaum Professsional Publication When you are looking for a quick nuts-and-bolts overview, there’s no series that does it better. Schaum’s Easy Outline of Introduction to Mathematical Economics is a pared-down, simplified, and tightly focused version of its predecessor. Designed to appeal to underprepared students and readers turned off by dense text Cartoons, sidebars, icons, and other graphic pointers get the material across fast Concise text focuses on the essence of the subject International Edition Delivers expert help from teachers who are authorities in their fields Perfect for last-minute test preparation ECONOMETRIC METHODS 4th Edition By John Johnston, University of California, Irvine and John DiNardo, Massachusetts Institute of Technology 1997 / 480 pages ISBN-13: 978-0-07-913121-8 / MHID: 0-07-913121-2 (with 3.5” disk) - (Out of Print) ISBN-13: 978-0-07-115342-3 / MHID: 0-07-115342-X [IE with 3.5” Disk] CONTENTS 1 Relationships Between Two Variables 2 Further Aspects of Two Variable Relationships 3 The k-Variable Linear Equation 4 Some Tests of the k-Variable Linear Equation for Specification Error 5 Maximum Likelihood (ML), Generalized Least Squares (GLS), and Instrumental Variable (IV) Estimators 6 Heteroscedasticity and Autocorrelation 7 Single Equation Modeling I: The Univariate Case 8 Single Equation Modeling II: The Multivariate Case 9 Multiple Equation Models 10 Generalized Method of Moments 11 A Smorgasbord of Computationally Intensive Methods 12 Limited Dependent Variable and Related Models 13 Panel Data International Edition FUNDAMENTAL METHODS OF MATHEMATICAL ECONOMICS 4th Edition By Alpha C Chiang, University of Connecticut and Kevin Wainwright, Simon Fraser University 2005 / 696 pages ISBN-13: 978-0-07-010910-0 / MHID: 0-07-010910-9 ISBN-13: 978-0-07-123823-6 / MHID: 0-07-123823-9 [IE] Website: http://www.mhhe.com/www.mhhe.com/economics/chiang4e It has been 20 years since the last edition of this classic text. Kevin Wainwright, a long time user of the text (British Columbia University and Simon Fraser University), has executed the perfect revision¿-he has updated examples, applications and theory without changing the elegant, precise presentation style of Alpha Chiang. Readers will find the wait was worthwhile. CONTENTS INVITATION TO PUBLISH McGraw-Hill is interested in reviewing manuscript for publication. Please contact your local McGraw-Hill office or email to [email protected] Visit McGraw-Hill Education (Asia) Website: www.mcgraw-hill.com.sg 36 PART 1 Introduction Chapter 1: The Nature of Mathematical Economics Chapter 2: Economic Models PART 2 Static (or Equilibrium) Analysis Chapter 3: Equilibrium Analysis in Economics Chapter 4: Linear Models and Matrix Algebra Chapter 5: Linear Models and Matrix Algebra (continued) PART 3 Comparative-Static Analysis Chapter 6: Comparative Statics and the Concept of the Derivative Chapter 7: Rules of Differentiation and their use in Comparative Statics Chapter 8: Comparative-Static Analysis of General-Function Models PART 4 Optimization Problems Chapter 9: Optimization: A Special Variety of Equilibrium Analysis Chapter 10: Exponential and Logarithmic Functions Chapter 11: The Case of More Than One Choice Variable Chapter 12: Optimization with Equality Constraints NEW Chapter 13: Further Topics in Optimization (includes Envelope Theorem and Duality PART 5 Dynamic Analysis Chapter 14 Economic Analysis and Integral Calculus Chapter 15 Continuous Time: First Order Differential Equations Chapter 16 Higher-Order Differential Equations Chapter 17 DiscreteTime: First Order Difference Equations Chapter 18 Higher Order Difference Equations Chapter 19 Simultaneous Differential Equations and Difference Equations NEW Chapter 20: Introduction to Optimal Control Theory Economics International Edition Planning Horizon. 6. Constrained Problems. PART THREE: OPTIMAL CONTROL THEORY: 7. Optimal Control. 8. More on Optimal Control. 9. Infinite-Horizon Problems. 10. Optimal Control with Constraints. SCHAUM’S OUTLINE OF INTRODUCTION TO MATHEMATICAL ECONOMICS 3rd Edition Money and Banking By Edward T. Dowling, Fordham University 2001 / 523 pages ISBN-13: 978-0-07-135896-5 / MHID: 0-07-135896-X ISBN-13: 978-0-07-118871-5 / MHID: 0-07-118871-1 [IE] A Schaum Professional Publication CONTENTS Review. / Economic Applications of Graphs and Equations. / The Derivative and the Rules of Differentiation. / Uses of the Derivative in Mathematics and Economics. / Calculus of Multivariable Functions. / Caculus of Multivariable Functions in Economics. / Exponential and Logarithmic Functions in Economics. / Differentiation of Exponential and Logarithmic Functions. / The Fundamentals of Linear (or Matrix) Algebra. / Matrix Inversion. / Special Determinants and Matrices and Their Use in Economics. / Comparative Statics and Concave Programming. / IUntegral Calculus: The Indefinite Integral. / Integral Calculus: The Definite Integral. / First-Order Differential Equations. / First Order Difference Equations. / Second-Order Differential Equations and Difference Equations. / Simultaneous Differential and Difference Equations. / The Calculus of Variations. / Optimal Control Theory. International Edition THE STRUCTURE OF ECONOMICS A Mathematical Analysis, 3rd Edition By Eugene Silberberg, University of Washington and Wing Suen 2001 / 688 pages ISBN-13: 978-0-07-234352-6 / MHID: 0-07-234352-4 ISBN-13: 978-0-07-118136-5 / MHID: 0-07-118136-9 [IE] CONTENTS 1. Comparative Statics and the Paradigm of Economics 2. Review of Calculus (One Variable) 3. Functions of Several Variables 4. Profit Maximization 5. Matrices and Determinants 6. Comparative Statics: The Traditional Methodology 7. The Envelope Theorem and Duality 8. The Derivation of Cost functions 9. Cost and Production Functions: Special Topics 10. The Derivation of Consumer Demand Functions 11. Special topics in Consumer Theory 12. Intertemporal Choice 13. Behavior under Uncertainty 14. Maximization with Inequality and Nonnegativity Constraints 15. Contracts and Incentives 16. Markets with Imperfect Information 17. General Equilibrium I: Linear Models 18. General Equilibrium II: Nonlinear Models 19. Welfare Economics 20. Resource Allocation over Time: Optimal Control theory International Edition ELEMENTS OF DYNAMIC OPTIMIZATION By Alpha C Chiang, University of Connecticut 1992 / 480 pages ISBN-13: 978-0-07-010911-7 / MHID: 0-07-010911-7 (Out of Print) ISBN-13: 978-0-07-112568-0 / MHID: 0-07-112568-X [IE] International Edition MONEY, BANKING AND FINANCIAL MARKETS By Stephen G. Cecchetti 2006 (January 2005) / 704 pages ISBN-13: 978-0-07-245269-3 / MHID: 0-07-245269-2 ISBN-13: 978-0-07-111565-0 / MHID: 0-07-111565-X [IE] Website: http://www.mhhe.com/economics/cecchetti Stephen Cecchetti’s new text on Money and Banking offers a fresh, more modern, and more student-friendly approach to the subject. The author has drawn on his vast experience as Vice President at the Federal Reserve Bank of New York, publishing in and editing various journals, and consulting for the European Central Bank, the Bank of England, the Bank of Israel, and the Reserve Bank of Australia as well as his years of teaching at various schools including Ohio State, Brandeis, Princeton, and Oxford University. Students will find the material more relevant and interesting because of the book’s unique emphasis on the Five Core Principles, the early introduction of risk, and an integrated global perspective. Cecchetti is THE money and banking book for today’s students; by focusing on the big picture via core principles, Cecchetti teaches students the rationale for financial rules and institutional structure so that even when the financial system evolves, students’ knowledge will not be out of date. Contents Money, Banking, and Financial Markets Brief Contents Part I. Money and the Financial System Chapter 1. An Introduction to Money and the Financial System Chapter 2. Money and the Payments System Chapter 3. Financial Instruments, Financial Markets, and Financial Institutions Part II. Interest Rates, Financial Instruments, and Financial Markets Chapter 4. Future Value, Present Value and Interest Rates Appendix 4: The Algebra of Present-Value Formulas Chapter 5. Understanding Risk Appendix 5A: A Quick Test to Measure Your Risk Tolerance Appendix 5B: The Mathematics of Diversification Chapter 6. Bonds, Bond Prices and the Determination of Interest Rates Chapter 7. The Risk and Term Structure of Interest Rates Chapter 8. Stocks, Stock Markets and Market Efficiency Chapter 9. Derivatives: Futures, Options and Swaps Chapter 10. Foreign Exchange Appendix 10: Interest Rate-Parity and Short-Run Exchange Rate Determination Part III. Financial Institutions Chapter 11. The Economics of Financial Intermediation Chapter 12. Depository Institutions: Banks and Bank Management Chapter 13. Financial Industry Structure Chapter 14. Regulating the Financial System Part IV. Central Banks, Monetary Policy, and Financial Stability Chapter 15. Central Banks in the World Today Chapter 16. The Structure of Central Banks: The U.S. Federal Reserve and the European Central Bank Chapter 17. The Central Bank Balance Sheet and the Money Supply Process Chapter 18. Monetary Policy: Using Interest Rates to Stabilize the Domestic Economy Chapter 19. Exchange-Rate Policy and the Central Bank Appendix 19: What You Really Need to Know about the Balance of Payments Part V. Modern Monetary Economics Chapter 20. Money Growth, Money Demand, and Monetary Policy Chapter 21. Monetary Policy and Aggregate Demand Chapter 22. Understanding Business Cycles Chapter 23. Monetary Policy, Output, and Inflation in the Short Run / Glossary / Index CONTENTS PART ONE: INTRODUCTION: 1. The Nature of Dynamic Optimization. PART TWO: CALCULUS OF VARIATIONS: 2. The Fundamental Problem of Calculus of Variations. 3. Transversality Conditions for Variable-Endpoint Problems. 4. Second-Order Conditions. 5. Infinite 37 Economics International Economics International Edition New INTERNATIONAL ECONOMICS 13th Edition By Thomas Pugel, New York University 2007 (May 2006) / 800 pages ISBN-13: 978-0-07-352302-6 / MHID: 0-07-352302-X ISBN-13: 978-0-07-110727-3 / MHID: 0-07-110727-4 [IE] Website: http://www.mhhe.com/economics/pugel13 This classic text has sold well for a half century because it covers all the conventional areas of international economics in an easyto-understand manner. The 13th edition continues to provide the best blend of events and analysis, so that readers can build their abilities to understand global economic developments and to evaluate proposals for changes in economic policies. The book is informed by current events and by the latest in applied international research. It combines rigorous economic analysis with attention to the issues of economic policy that are alive and important today. This concise and readable text uses economic terminology when it enhances the analysis, but avoids jargon for jargon’s sake. Like earlier editions, it also places international economics events within a historical framework. The overall treatment continues to be intuitive rather than mathematical and is strongly oriented towards policy. NEW TO THIS EDITION Four Introductory Key Events: The four “key events” for Chapter 1 in this new edition include: a new discussion on “Outsourcing,” an updated discussion of “Poor Workers in Poor Countries,” a revised and updated discussion of “The Euro,” and a new discussion entitled “China Revalues its Currency.” Focus on China: A new series of text boxes entitled “Focus on China” address the growing importance of China and the interesting economic issues specific to China and the US trade relationships with China. New Glossary: This new Glossary lists all the key terms from the chapters and their definitions. Key terms (without their definitions) from each chapter are now also listed in the end matter between the Summary and Suggested Reading. Easier Reading: Larger font size for the captions makes them easier to read and more bullet-point lists break up the long paragraphs, making densely packed information easier to understand. Split Chapter: Chapter 3 in the last edition was rather long, and in this edition this chapter is divided into two, with the new Chapter 3 focusing on the concepts of absolute and comparative advantage from Smith and Ricardo, and the new Chapter 4 presenting the Heckscher-Ohlin theory and the tools that economists use to develop this theory. Streamlined Chapter: Chapter 16 has been streamlined to focus on the use and meaning of balance of payments information. While basic accounting principles underlying the balance of payments are explained, details of posting specific transactions are moved to the new Appendix E. In addition, the presentation of the U.S. balance of payments as an example is now in a more user-friendly format. These U.S. data for 2004 provide an excellent launching base for discussions of the meaning of current account deficits and the link of the overall balance to intervention in the foreign exchange market. New Case Studies: A new Case Study box in Chapter 9 describes the global web of quantitative limits on trade in clothing and textiles (the Multifibre Arrangement) and the negotiated end to these limits as of January 1, 2005. The box also discusses the new limits imposed during 2005 by the United States and the European Union on imports from China, so that the “temporary” trade restraints have been resurrected. A new Case Study box in Chapter 11 brings life to strategic trade policy 38 by presenting the WTO dispute cases in which the U.S. government has accused the European Union of subsidizing Airbus, and the European Union has accused the U.S. government of subsidizing Boeing. In-depth Analysis: A range of trade policy issues are analyzed. For the prominent issues of dumping by foreign exporters and subsidies offered by foreign governments, Chapter 11 now features recent research that documents biases in the methods used by the Department of Commerce in its antidumping investigations. Also, recent decisions by the World Trade Organization that U.S. subsidies to its cotton production and EU subsidies to its sugar production violate WTO rules are included. Finally, a new Case Study box brings life to strategic trade policy by presenting the WTO dispute cases in which the U.S. government has accused the European Union of subsidizing Airbus, and the European Union has accused the U.S. government of subsidizing Boeing. subsidies. Latest Sources: Material was created using the latest available sources to update the wide range of data and information presented in the figures and text of the book. Among many other updates, the book offers the latest information on factor endowments, trends in the relative prices of primary products, patterns of foreign direct investments broadly and by major home country, the sizes of foreign exchange trading and foreign exchange futures, swaps, and options, evidence about relative purchasing power parity, and the exchange rate policies chosen by national governments. Features AS/AD Framework Appendix: This appendix presents the aggregate demand-aggregate supply framework as an approach to open-economy macroeconomics. This provides flexibility for instructors who would like to include this approach in their course. Labor Issues Discussed: The book continues to weave discussion of labor issues into a number of chapters in Parts I and II. WTO Discussions: Consistent discussion of and reference to the World Trade Organization (WTO) in international trade policy. Trade and the Environment: The chapter on international environmental issues continues as a unique and powerful treatment of issues of major interest to many students. It includes discussion of such topics as WTO rulings on environmental policies that affect international trade, transborder pollution, ozone depletion, and global warming. End-of-Chapter Questions: each chapter has at least ten questions and problems. Every odd-numbered problem has an answer provided at the back of the text. Students are able to check their understanding of the material more effectively. Balanced Coverage: The text covers all of the conventional topics in International Economics while grappling with the issues that are being discussed in today’s economic journals and newspapers. Real Situations: Applications taken from real economic situations appear in two-color boxes, so students immediately see the relevance of theory to world economics. CONTENTS 1. International Economics Is Different. Part I: The Theory of International Trade. 2. The Basic Theory Using Demand and Supply. 3. Why Everybody Trades: Comparative Advantage and Factor Proportions. 4. Who Gains and Who Loses from Trade? 5. Alternative Theories of Trade. 6. Growth and Trade. Part II: Trade Policy. 7. The Basic Analysis of Tariffs. 8. Nontariff Barriers to Imports. 9. Arguments For and Against Protection. 10. Pushing Exports. 11. Trade Blocs and Trade Blocks. 12. Trade and the Environment. 13. Trade Policies for Developing and Transition Countries. 14. Multinationals and Migration: International Factor Movements. Part III: Understanding Foreign Exchange. 15: Payments Among Nations. 16. The Foreign Exchange Market. 17. Forward Exchange and International Financial Investment. 18. What Determines Exchange Rates. 19. Government Policies Toward the Foreign Exchange Market. 20. International Lending and Financial Crises. Part IV: Macro Policies for Open Economies. 21. How Does the Open Macroeconomy Work? 22. Internal and External Balance with Fixed Exchange Rates. 23. Floating Exchange Rates and Internal Balance. 24. National and Global Choices: Floating Rates and the Alternatives. Appendix A: Where the International Information Is. Appendix B: Deriving Production-Possibili- Economics ties Curves. Appendix C: Offer Curves. Appendix D: The Nationally Optimal Tariff. Appendix E: Many Parities at Once. Appendix F: Aggregate Demand and Aggregate Supply in the Open Economy. Appendix G: Devaluation and the Current Account INTERNATIONAL ECONOMICS 4th Edition By Francis Cherunilam, Cochin University of Science and Technology 2005 (December 2005) ISBN-13: 978-0-07-059942-0 / MHID: 0-07-059942-4 Tata McGraw-Hill Title International Edition INTERNATIONAL ECONOMICS 5th Edition By Dennis R Appleyard, Davidson College, Alfred J Field, University of North Carolina - Chapel Hill and Steven Cobb, University of North Texas 2006 / 816 pages ISBN-13: 978-0-07-287737-3 / MHID: 0-07-287737-5 ISBN-13: 978-0-07-125092-4 / MHID: 0-07-125092-1 [IE] Website: http://www.mhhe.com/appleyard5e Appleyard, Field, and Cobb’s International Economics 5e text is an International Economics textbook that offers a consistent level of analysis and treatment of the two main subdivisions of international economics—international trade theory and policy and international monetary theory and policy. Comprehensive and clear, the text helps students move beyond recognition toward and understanding of current and future international events. A new co-author, Steven L. Cobb from the University of North Texas, joins the book this edition and brings expertise especially in the fields of economic education and transition economies, particularly those in Eastern Europe. Contents INTRODUCTION 1. The World of International Economics PART I 2. Early Trade Theories: Mercantilism and the Transition to the Classical World of David Ricardo 3. The Classical World of David Ricardo and Comparative Advantage 4. Extensions and Tests of the Classical Model of Trade PART II 5. Introduction to Neoclassical Trade Theory: Tools to Be Employed 6. Gains from Trade in Neoclassical Theory 7. Offer Curves and the Terms of Trade 8. The Basis for Trade: Factor Endowments and the Heckscher-Ohlin Model 9. Empirical Tests of the Factor Endowments Approach PART III 10. Post Heckscher-Ohlin Theories of Trade and Intra-Industry Trade 11. Economic Growth and International Trade 12. International Factor Movements PART IV 13. The Instruments of Trade Policy 14. The Impact of Trade Policies 15. Arguments for Interventionist Trade Policies 16. Political Economy and Recent U.S. Trade Policy 17. Economic Integration 18. International Trade and the Developing Countries PART V 19. The Balance of Payments Accounts 20. The Foreign Exchange Market 21. International Financial Markets and Instruments: An Introduction 22. The Monetary and Portfolio Balance Approaches to External Balance 23. Price Adjustments and Balance of Payments Disequilibrium 24. National Income and the Current Account PART VI 25. Economic Policy in the Open Economy: Fixed Exchange Rates 26. Economic Policy in the Open Economy: Flexible Exchange Rates 27. Prices and Output in the Open Economy: Aggregate Supply and Demand PART VII 28. Fixed or Flexible Exchange Rates? 29. The International Monetary System: Past, Present, and Future CONTENTS Part 1: INTERNATIONAL ECONOMICS AND THE GLOBAL ECONOMY 1. Introduction 2.International Economic Gap and NIEO 3. Global Trade 4. Globalisation Part 2: BASES OF TRADE AND DEVELOPMENT 5. Analytical Tools 6. Theories of International Trade 7. Gains from trade and Terms of Trade 8 Economic Growth and Trade Part 3: TRADE POLPCIES AND ISSUES 9. Trade Strategy 10. Trade Barriers 11. International Cartels, Commodity Agreements and State Trading 12. Social Issues in Trade Part 4: ECONOMIC INTEGRATION AND COOPERATION 13. Economic Integration 14. South-South Cooperation Part 5: INTERNATIONAL MONETARY ECONOMICS 15. Balance of Payments 16. Policies for Internal and External balance 17. International Monetary System 18. Foreign Exchange 19. International Liquidity and Reserves 20. International Banking and Eurocurrency Market Part 6: INTERNATIONAL FACTOR MOBILITY 21. International Capital Flows 22. Multinational Corporations 23. Transfer of Technology 24. Official Development Assistance 25. International Debt 26. International Migration Part 7: INTERNATIONAL ECONOMIC ORGANISATIONS 27. IMF and Development Organisations 28. World Trade Organisation Part 8: TRDE POLICY AND PERFORMANCE OF INDIA 29. Trade Regulation and Promotion 30. Trade and BOP of India INTERNATIONAL TRADE AND INVESTMENT 2nd Edition By John Gionea 2005 / 488 pages ISBN-13: 978-0-07-471559-8 / MHID: 0-07-471559-3 McGraw-Hill Australia Title Website: http://www.mhhe.com/au/gionea2e The latest edition of International Trade and Investment: An Asia-Pacific Perspective is a must for any student undertaking subjects in international trade or international business. The text provides valuable insight into the challenges of doing business in today’s global economy. The second edition contains a new chapter outlining recent global trends in trade and investment along with new and revised case studies, giving the book a useful practical focus. International Trade and Investment: An Asia-Pacific Perspective is written in a language and style that makes it suitable for students at various levels of study. It is ideal for international business and international trade subjects at all stages, including those found in TAFE, Undergraduate, Graduate and Executive programs. Contents Part I: Introduction Chapter 1: Trade and investment in a global economy Part II:Global trade and investment patterns Chapter 2: International trade in goods and services Chapter 3: International trade theory Chapter 4: Foreign Direct Investment-practice and theory Chapter 5: Australia’s position in international trade and investment Part III: The global trade and investment environment Chapter 6: Instruments of trade and investment policies Chapter 7:The multilateral trade and investment framework Chapter 8: Regional economic integration Chapter 9:The foreign exchange market Chapter 10: The balance of payments Chapter 11:The international monetary system Part IV: Global business strategies Chapter 12: The firm’s market-entry strategies Chapter 13: Export import management Part V: Doing business in... Chapter 14: Advanced economies Chapter 15: Emerging markets and developing economies Part VI: Sectoral trends Chapter 16: Global industry profiles / Appendix A: The grain industry / Appendix B: The automotive industry / Appendix C: The telecommunications industry / Selected references / Glossary of key terms 39 Economics International Edition Industrial Organization INTERNATIONAL ECONOMICS By Hendrik Van Den Berg, University of Nebraska—Lincoln 2004 / 672 pages ISBn-13: 978-0-07-239796-3 / MHID: 0-07-239796-9 (Out of Print) ISBN-13: 978-0-07-121517-6 / MHID: 0-07-121517-4 [IE] Website: http://www.mhhe.com/economics/vandenberg/international Author Hank Van den Berg had a fourteen-year career in the US State Department and with multinational companies overseas prior to getting his PhD at the University of Wisconsin. As a result, international economics has been a favorite subject for him. After eleven years of teaching International Economics in a variety of Colleges at the University of Nebraska (Business Administration, Arts and Sciences, and Architecture), Hank was ready to begin his own text. He was particularly interested in writing a book that would engage students more than the existing ones do and appeal to the diverse audience he has taught (adult students, students from a variety of countries, students with a variety of academic interests). CONTENTS Chapter 1: International Economics and the Global Economy Chapter 2: The Open Economy Chapter 3: The Gains from Trade: A Partial Equilibrium View Chapter 4: Why Nations Trade: A Partial Equilibrium View Chapter 5: International Trade and Economic Growth Chapter 6: Protectionism: How Nations Restrict Trade Chapter 7: Why Do Countries Restrict Foreign Trade? Chapter 8: Trade Policy: Past Present and Future Chapter 9: Trade Discrimination: Free Trade Areas and Anti-Dumping Protection Chapter 10: The Economics of International Investment Chapter 11: The Many Forms of International Investment Chapter 12: The Foreign Exchange Market Chapter 13: Economics Policy in and Open Economy Chapter 14: The Evolution of the International Financial System Chapter 15: The International Migration of People Chapter 16: Immigration Policy Chapter 17: The Future Path of Globalization SCHAUM’S OUTLINE OF INTERNATIONAL ECONOMICS 4th Edition By Dominick Salvatore, Fordham University—Bronx 1996 / 288 pages ISBN-13: 978-0-07-054950-0 / MHID: 0-07-054950-8 A Schaum Professional Publication Outstanding for its easy-to-understand explanations of international economics, this guide covers all course fundamentals and supplements any class text. It takes students through the solution of hundreds of problems dealing with demand and supply in trade, the foreign exchange markets, flexible and fixed exchange rates and much more. Also includes practice midterm and final exams. INDUSTRIAL ECONOMICS AND ORGANIZATION A European Perspective, 2nd Edition By David Jacobson, Dublin City University and Bernadette Andreosso-O’ Callaghan, University of Limerick 2005 / 400 pages ISBN-13: 978-0-07-710422-1 / MHID: 0-07-710422-6 McGraw-Hill UK Title Website: www.mcgraw-hill/textbooks/jacobson Industrial Economics and Organisation: A European Perspective presents an authoritative account of both traditional and current theories in industrial economics. This new edition aims to capitalise on the key strengths of the first edition while bringing this edition up to date. It has done so by integrating new material on recent theoretical developments, such as stakeholder theory and technological change and innovation, as well as recent political and economic changes, for example in relation to Eastern Europe. Its European focus successfully draws on a number of European examples to clearly illustrate key theoretical concepts to the reader. CONTENTS Chapter 1: Introduction Chapter 2: Industrial Economics Chapter 3: Neoclassical Theory of the Firm Chapter 4: Other Theories of the Firm Chapter 5: Market Structure Chapter 6: Structure and Strategy: Oligopoly Chapter 7: Industry in the EU Chapter 8: Location and Industrial Development Chapter 9: Pricing behavior of firms Chapter 10: Non-price strategies Chapter 11: Technological change and innovation Chapter 12: Performance of firms Chapter 13: Performance of EU firms and industries Chapter 14: Multinational Enterprises and Globalization Chapter 15: Aspects of Industrial Policy History of Economic Thought International Edition A HISTORY OF ECONOMIC THEORY AND METHOD 4th Edition By Robert B. Ekelund, Jr., Auburn University and Robert F. Herbert, Auburn University 1997 / 688 pages ISBN-13: 978-0-07-021327-2 / MHID: 0-07-021327-5 (Out of Print) ISBN-13: 978-0-07-114282-3 / MHID: 0-07-114282-7 [IE] CONTENTS Part I: Introduction and Early Beginnings. Part II: The Classical Period. Part III: Reactions and Alternatives to Classical Theory in the Nineteenth Century. Part IV: Microeconomics in Europe and England. Part V: Twentieth-Century Paradigms. 40 Economics Labor Economics ANNUAL EDITIONS: LABOR-MANAGEMENT RELATIONS 05/06 By John Overby, University of Tenn-Martin 2006 / 240 pages ISBN-13: 978-0-07-310917-6 / MHID: 0-07-310917-7 International Edition New LABOR ECONOMICS 4th Edition By George J Borjas, Harvard University-Cambridge 2008 (March 2007) / 544 pages ISBN-13: 978-0-07-340282-6 / MHID: 0-07-340282-6 ISBN-13: 978-0-07-110142-X4 / MHID: 0-07-110142-X [IE] (Details unavailable at press time) International Edition CONTEMPORARY LABOR ECONOMICS 7th Edition By Campbell R. McConnell, University of Nebraska, Emeritus, Stanley L. Brue, Pacific Lutheran University, David Macpherson, Florida State University—Tallahassee 2006 / 672 pages ISBN-13: 978-0-07-297860-5 / MHID: 0-07-297860-0 ISBN-13: 978-0-07-111621-3 / MHID: 0-07-111621-4 [IE] Website: http://www.contemporarylabor.com Contemporary Labor Economics, 7e presents the “new” labor economics. In the past, study of labor was highly descriptive, emphasizing historical developments, facts, institutions, and legal considerations. Labor markets and unemployment was accorded some attention, but the analysis was typically minimal. This state of affairs has changed significantly in recent decades. Economists have achieved important breakthroughs in studying labor markets and problems. Labor economics is increasingly an applied field of micro and macro theory and has become a critical part of the core of analytical economics. As a result, the focus of the text is on the “new” labor economics. However, it also presents traditional topics such as labor law, structure of unions, and collective bargaining since these issues also play an important role in labor markets. Contents Chapter 1: Labor Economics Introduction and Overview Chapter 2: The Theory of Individual Labor Supply Chapter 3: Population, Participation Rates, and Hours of Work Chapter 4: Labor Quality: Investing in Human Capital Chapter 5: The Demand for Labor Chapter 6: Wage Determination and the Allocation of Labor Chapter 7: Alternative Pay Schemes and Labor Efficiency Chapter 8: The Wage Structure Chapter 9: Mobility, Migration, and Efficiency Chapter 10: Labor Unions and Collective Bargaining Chapter 11: The Economic Impact of Unions Chapter 12: Government and the Labor Market: Employment, Expenditures, and Taxation Chapter 13: Government and the Labor Market: Legislation and Regulation Chapter 14: Labor Market Discrimination Chapter 15: Job Search: External and Internal Chapter 16: The Distribution of Personal Earnings Chapter 17: Labor Productivity: Wages, Prices, and Employment Chapter 18: Employment and Unemployment McGraw-Hill/Dushkin Title Website: http://www.dushkin.com/catalog/0073109177.mhtml Annual Editions: Labor-Management Relations 05/06 was developed to show both the breadth and depth of the labor-management relations field not only in the United States, but around the world. It provides perspectives to students from the legal issues, the managerial view, the union’s view, and global views. Since the mid-1950’s, union membership has continually been declining in the United States. At the same time, employees are faced with an increasing workload; decreases in benefits and pensions; wage concessions; and the loss of jobs to outsourcing. What is taking place within these circumstances? To better understand what is happening, Annual Editions: Labor-Management Relations 05/06 looks at the inherent struggle between labor and management as well as the legal and global contexts in which it occurs. What does the future hold for labor-management relations? Contents UNIT 1. Historical and Legal Regulation of Collective Bargaining New! 1. Basic Labor Law New! 2. Individual “Concerted” Activity Under Federal Labor Laws New! 3. U.S. Labor Law New! 4. Weingarten Rights in Non-Union Settings New! 5. Labor Pains for Union-Free Employers New! 6. The Impact of Employer E-Mail Policies on Employee Rights to Engage in Concerted Activities Protected by the National Labor Relations Act New! 7. The Thirteenth Amendment and the Right to Strike New! 8. Does America Need a National Rightto-work Law? (Pro and Con arguments) New! 9. The ’Living Wage’: It Couldn’t Do Any Harm New! 10. Palace Coup at the AFL-CIO New! 11. Building Strength UNIT 2. Strategies for Collective Bargaining New! 12. Guaranteeing Opportunity For The Workers New! 13. Should Collective Bargaining and Labor Relations be Less Adversarial? New! 14. The Developing Law of Neutrality Agreements New! 15. Who Will Fold First? New! 16. E-Organizing, The Next Frontier? Labor Unions Seek Access to Company E-mail Systems New! 17. PC Use at Home and for Union Organizing—New Challenges in the Wired Workplace New! 18. Collective Bargaining is the Right Step New! 19. Up Against Wal-Mart New! 20. Rollback WAGES! Will Labor Take the Wal-Mart Challenge? New! 21. Street Corner, Incorporated UNIT 3. Labor-Management Contract Negotiations New! 22. Labor Contract Negotiations in the Airline Industry New! 23. Process, Strategy, and Tactics in Labor-Management Mediation New! 24. Tortilla Flap New! 25. Labor Adversaries Bury the Hatchet New! 26. The New Deal New! 27. Labor and Management Build a Prescription for Health New! 28. Deauthorization and Decertification Elections: An Analysis and Comparison of Trends UNIT 4. Dispute Resolution and Administering the Relationship New! 29. Psychological Contracts in the Workplace: Understanding the Ties That Motivate New! 30. Good Management/Union Relations can be a Sweet Deal New! 31. Mending Labor-Management Relationships New! 32. Nature vs. Nurture New! 33. Quaker Oats Co. New! 34. Ambiguities in Labor Contracts: Where do They Come From? New! 35. Minimizing the Likelihood of Employment Litigation New! 36. The Pivotal Role of Labor-Management Committees New! 37. Behavioral Safety: A Necessary Part of the Whole New! 38. Delphi Gets a Handle on Hand Protection New! 39. Union Liability in Discrimination Cases New! 40. Dispatches from Decatur: Community is the First Casualty in America’s Labor Wars UNIT 5. Public Sector Collective Bargaining New! 41. Making Labor-Management Relations Integral to the Management Process New! 42. Union Monopoly is Bad for Teachers New! 43. Trade Unions: The Facts UNIT 6. International Collective Bargaining New! 44. Taming the Tiger New! 45. Shut Up or Die! New! 46. Employment Tribunals: Using Your Last Resort New! 47. The “Race to the Bottom” in Imported Clothes UNIT 7. The Future of Labor Union Movement in the United States New! 48. Are Unions Obsolete? Neuhaus v. O’Connor on Labor New! 49. A Proposal for a Twenty-First-Century Trade Union Education League: An Attempt to Solve the Crisis of Organizing the Unorganized New! 50. The Working Poor in 2001 41 Economics New to this edition International Edition Leaner Writing Style: The book has fewer pages but more substance— each chapter has been rewritten to be more clear and concise. LABOR ECONOMICS 3rd Edition By George J Borjas, Harvard University - Cambridge 2005 / 560 pages ISBN-13: 978-0-07-287177-7 / MHID: 0-07-287177-6 ISBN-13: 978-0-07-111097-6 / MHID: 0-07-111097-6 [IE] Website: http://www.mhhe.com/economics/borjas3 George Borjas’ well-received text blends coverage of traditional topics with modern theory and developments into a superb Labor economics book. His integration of theory with facts and coverage of latest research make his book one of the most popular at the middle and upper end of the market. CONTENTS Chapter 1. Introduction / Appendix: An Introduction to Regression Analysis / Chapter 2. Labor Supply Chapter 3. Topics in Labor Supply Chapter 4. Labor Demand 5. Labor Market Equilibrium Chapter 6. Compensating Wage Differentials Chapter 7. Human Capital Chapter 8. The Wage Structure Chapter 9. Labor Mobility Chapter 10. Labor Market Discrimination Chapter 11. Labor Unions Chapter 12. Incentive Pay Chapter 13. Unemployment Urban Economics International Edition New URBAN ECONOMICS 6th Edition By Arthur O’Sullivan, Lewis & Clark College 2007 (January 2006) / 624 pages ISBN-13: 978-0-07-298476-7 / MHID: 0-07-298476-7 ISBN-13: 978-0-07-124471-8 / MHID: 0-07-124471-9 [IE] Arthur O’Sullivan’s Urban Economics is the leading text for this small, but exciting market. This book covers urban economics as the discipline that lies at the intersection of geography and economics. The sixth edition is a thorough revision of previous incarnations—the author has reorganized and rewritten every chapter to produce a sleek and up-to-date text that will bring renewed attention to the Urban Economics course. This sixth edition offers an extreme makeover from previous editions while also incorporating the remarkable progress in the field of urban economics in the last ten to fifteen years. Part I of the book explains why cities exist and what causes them to grow or shrink. Part II examines the market forces that shape cities and the role of government in determining land-use patterns. Part III looks at the urban transportation system, exploring the pricing and design of public transit systems and the externalities associated with automobile use (congestion, environmental damage, collisions). Part IV uses a model of the rational criminal to explore the causes of urban crime and the spatial consequences. Part V explains the unique features of the housing market and examines the effects of government housing policies. The final part of the book explains the rationale for our fragmented system of local government and explores the responses of local governments to intergovernmental grants and the responses of taxpayers to local taxes. All of the economic concepts used in the book are covered in the typical intermediate microeconomics course, but a Tools of Microeconomics appendix is included that covers the key concepts for students whose exposure to microeconomics is limited to an introductory course or who could benefit from a review of intermediate concepts. 42 Axioms of Urban Economics: The book starts with five “axioms of urban economics,” self-evident truths that provide the foundation for the economic analysis throughout the book. These axioms are referenced throughout the text to reinforce how fundamental concepts fit into the big picture. New Figures: The author has created all the figures in this edition from scratch to closely match the new, up-to-date content. Active Learning: Each chapter ends with four or five exercises that allow students to apply the key concepts. These exercises can be incorporated into class sessions or exams. More User-friendly Appendix: Many chapters have callouts to refer the reader to a specific section of the Appendix, “Tools of Microeconomics”, for a review of the relevant concepts. Better Flow of Topics: This edition incorporates several important organizational changes: the analysis of urban poverty is integrated throughout the book, with appearances in nine chapters; the key insights from the old chapter on land rent appear at the beginning of the chapter on urban land rent; the land-use section starts with modern cities, and then looks back to explain the rise and then demise of the monocentric city; and the key insights from the old chapter on location theory are integrated into several chapters in the first part of the book. New Appendices: A new appendix to the urban-growth chapter presents the neoclassical model of regional development. A new appendix to the chapter on urban rent uses economic choice models to explain (1) how consumer substitution generates a convex housing-price curve and (2) how input substitution generates a convex bid-rent curve. A new appendix to the chapter on land use describes the monocentric model and applies it to general-equilibrium analysis and the issue of income segregation. New Chapter: Chapter 8 on “Neighborhood Choice” covers material that is new to the profession and will be a big hit with instructors; it replaces Chapter 13 of the fifth edition and presents the location-related analysis of crime and schooling much earlier in the book. This new section explores the economics of neighborhood choice and segregation, focusing on the role of local public goods and neighborhood externalities related to education and crime. Features Updated Data: All the tables and charts continue to contain the most recent data, and insights and facts from current theoretical and empirical research have been added in every chapter. Updated Policy Analysis: Reflecting recent changes in public policy, the content details refinements in the economic analysis of policy alternatives. Microeconomic Framework: This text continues to bring urban issues into a modern microeconomic framework. This framework continues to appeal to many micro instructors because it closely matches their training and the way they want to teach the course. CONTENTS 1 Introduction and Axioms of Urban Economics. 2 Why Do Cities Exist? 3 Why Do Firms Cluster? 4 City Size. 5 Urban Growth. 6 Urban Land Rent. 7 Land-Use Patterns. 8 Neighborhood Choice. 9 Zoning and Growth Controls. 10 Externalities from Autos. 11 Mass Transit. 12 Crime. 13 Why Is Housing Different? 14 Housing Policy. 15 Local Government Spending. 16 Local Government Revenue Economics Public Finance New PUBLIC FINANCE 8th Edition By Harvey Rosen, Princeton University 2008 (March 2007) / 640 pages ISBN-13: 978-0-07-351128-3 / MHID: 0-07-351128-5 (Details unavailable at press time) International Edition Measurement with Demand Curves / Differential Taxation of Inputs / Does Efficient Taxation Matter? / 14. Efficient and Equitable Taxation: Optimal Commodity Taxation / Optimal User Fees / Optimal Income Taxation / Politics and the Time Inconsistency Problem / Other Criteria for Tax Design / Part Four: THE UNITED STATES REVENUE SYSTEM 15. The Personal Income Tax: Basic Structure / Defining Income / Excludable Forms of Money Income / Exemptions and Deductions / Rate Structure / Choice of Unit and the Marriage Tax / Taxes and Inflation / Treatment of International Income / State Income Taxes / Politics and Tax Reform / 16. Personal Taxation and Behavior: Labor Supply / Saving / Housing Decisions / Portfolio Composition / A Note on Politics and Elasticities / 17. The Corporation Tax: Why Tax Corporations? / Structure / Incidence and Excess Burden / Effects on Behavior / State Corporation Taxes / Taxation of Multinational Corporations / Corporation Tax Reform / 18. Deficit Finance: How Big Is the Debt? / The Burden of the Debt / To Tax or to Borrow? / 19. Taxes on Consumption and Wealth: Retail Sales Tax / Value-Added Tax / Hall-Rabushka Flat Tax / Cash-Flow Tax / Efficiency and Fairness of Personal Consumption Taxes / Income versus Consumption Taxation / Wealth Taxes / Estate and Gift Taxes / Part Five: MULTIGOVERNMENT PUBLIC FINANCE 20. Public Finance in a Federal System: Background / Community Formation / The Tiebout Model / Optimal Federalism / Property Tax / Intergovernmental Grants / Appendix: Some Basic Microeconomics / Glossary / References / Author Index / Subject Index PUBLIC FINANCE 7th Edition By Harvey Rosen, Princeton University 2005 / 640 pages ISBN-13: 978-0-07-287648-2 / MHID: 0-07-287648-4 ISBN-13: 978-0-07-123842-7 / MHID: 0-07-123842-5 [IE] Advanced Macroeconomics Website: http://www.mhhe.com/www.mhhe.com/rosen7e Harvey Rosen’s scholarly and up-to-date Public Finance continues to be the market-leading book. The book takes its readers to the frontiers of current research, yet remains accessible to undergraduates. Although it draws upon the latest research, the book never loses sight of the reality it is supposed to describe, always drawing the links between economic analysis and current political issues. CONTENTS Part One: INTRODUCTION 1. Introduction: Public Finance and Ideology: Government at a Glance / 2. Tools of Positive Analysis: The Role of Theory / Methods of Empirical Analysis /Concluding Remarks / 3. Tools of Normative Analysis: Welfare Economics / The First Fundamental Theorem of Welfare Economics / Fairness and the Second Fundamental Theorem of Welfare Economics / Market Failure / Buying into Welfare Economics / Part Two: ANALYSIS OF PUBLIC EXPENDITURE 4. Public Goods: Public Goods Defined / Efficient Provision of Public Goods / The Privatization Debate / Education / Public Goods and Public Choice / 5. Externalities: The Nature of Externalities /Graphical Analysis / Private Responses / Public Responses to Externalities / The US Response / Implications for Income Distribution / Positive Externalities / 6. Political Economy: Direct Democracy / Representative Democracy / Explaining Government Growth / 7. Income Redistribution, Conceptual Issues: Distribution of Income / Rationales for Income Redistribution / Expenditure Incidence / 8. Expenditure Programs for the Poor: A Quick Look at Welfare Spending / Institutional Setting / Issues in the Design of Welfare Programs / The Earned Income Tax Credit / Supplemental Security Income / Medicaid / Food Stamps and Child Nutrition / Housing Assistance / Programs to Enhance Earnings / 9. Social Insurance I: Social Security and Unemployment Insurance: Why Have Social Insurance? / Structure of Social Security / Effects on Economic Behavior / Long-Term Stresses on Social Security / Social Security Reform / Unemployment Insurance / Conclusions / 10. Social Insurance II: Health Care: What’s Special About Health Care? / The US Health Care Market / The Role of Government / The Twin Issues: Access and Cost / Should Government’s Role in Health Care Increase? / 11. Cost? Benefit Analysis: Present Value / Private Sector Project Evaluation / Discount Rate for Government Projects / Valuing Public Benefits and Costs / Games Cost? Benefit Analysts Play / Distributional Considerations / Uncertainty / An Application: Are Reductions in Class Size Worth It? / Use (and Nonuse) by Government / Part Three: A FRAMEWORK FOR TAX ANALYSIS 12. Taxation and Income Distribution: Tax Incidence: General Remarks / Partial Equilibrium Models / General Equilibrium Models / Conclusions / 13. Taxation and Efficiency: Excess Burden Defined / Excess Burden ADVANCED MACROECONOMICS 3rd Edition By David Romer, University of California, Berkeley 2006 / 696 pages ISBN-13: 978-0-07-287730-4 / MHID: 0-07-287730-8 David Romer’s Advanced Macroeconomics, 3e is the standard text and the starting point for graduate macro courses and helps lay the groundwork for students to begin doing research in macroeconomics and monetary economics. A series of formal models are used to present and analyze important macroeconomic theories. The theories are supplemented by examples of relevant empirical work, which illustrate the ways that theories can be applied and tested. This well-respected and well-known text is unique in the marketplace. CONTENTS 1. The Solow Growth model 2. Infinite-Horizon and Overlapping-Generations Models 3. New Growth Theory 4. Real-Business-Cycle Theory 5. Traditional Keynesian Theories of Fluctuations 6. Microeconomic Foundations of Incomplete Nominal Adjustment 7. Consumption 8. Investment 9. Unemployment and the Labor Market 10. Inflation and Monetary Policy 11. Budget Deficits and Fiscal Policy 43 Economics INTRODUCING ADVANCED MACROECONOMICS By Peter Birch Sorensen and Hans Jorgen Whitta-Jacobsen of University of Copenhagen 2005 / 800 pages ISBN-13: 978-0-07-710425-2 / MHID: 0-07-710425-0 Economic Growth and Development McGraw-Hill UK Title Website: www.mcgraw-hill/textbooks/sorenson Aimed at the advanced undergraduate student, Introducing Advanced Macroeconomics: Growth and Business Cycles bridges the gap between intermediate macroeconomics texts and more advanced macroeconomics texts, something not currently available in the market. The text seeks to give students a thorough understanding of some fundamental workhorse models in macroeconomics and to introduce them to methods of formal macroeconomics analysis, without requiring too many technical skills. The first half of the book focuses on macroeconomics for the long run, introducing and developing the basic Solow model. While the second half of the book deals with the economy in the short run, focusing on the explanation of business fluctuations. CONTENTS Chapter 1 Macroeconomics for the Long Run and for the Short Run / Book One: The Long Run: Economic Growth, Long Run Unemployment, and Structural Economic Policy / Part I Basic Theory and Empirics about Prosperity and Growth / Chapter 2 Some Facts about Prosperity and Growth / Chapter 3 Capital Accumulation and Growth: The Basic Solow Model / Chapter 4 Wealth Accumulation and Capital Mobility: The Solow Model for a Small Open Economy / Part II Exogenous Growth / Chapter 5 Technological Progress and Growth: The General Solow Model / Chapter 6 Education and Growth: The Solow Model with Human Capital / Chapter 7Limits to Growth? The Solow Model with Scarce Natural Resources / Part III Endogenous Growth / Chapter 8 Productive Externalities and Endogenous Growth / Chapter 9 R&D-Based Models of Endogenous Growth: Macroeconomic Modelling / Chapter 10 R&D-Based Models of Endogenous Growth: Micro Foundations / Part IV Structural Unemployment / Chapter 11 Some Facts and Introductory Theory about Unemployment / Chapter 12 Efficiency Wages and Unemployment / Chapter 12 Trade Unions and Unemployment / Book Two The Short Run: Economic Fluctuations, Short Run Unemployment, and Stabilisation Policy / Chapter 14 The Economy in the Short Run: Some Facts about Business Cycles / Part V The Building Blocks for the Short Run Model / Chapter 15 Investment and Asset Prices / Chapter 16 Consumption, Income and Wealth / Chapter 17 Monetary Policy and Aggregate Demand / Chapter 18 Inflation, Unemployment and Aggregate Supply / Part VI The Short Run Model for the Closed Economy / Chapter 19 Explaining Business Cycles: Aggregate Supply and Aggregate Demand in Action / Chapter 20 Stabilization Policy: Why and How? / Chapter 21 Stabilization Policy with Rational Expectations / Chapter 22 The Limits to Stabilization Policy: Credibility, Uncertainty and Time Lags / Part VII The Short Run Model for the Open Economy / Chapter 23 Aggregate Demand and Aggregate Supply in the Open Economy / Chapter 24 The Open Economy with Fixed Exchange Rates / Chapter 25 The Open Economy with Flexible Exchange Rates / Chapter 26 The Choice of Exchange Rate Regime and the Theory of Optimum Currency Areas 44 International Edition ECONOMIC GROWTH AND DEVELOPMENT By Hendrik Van Den Berg, University of Nebraska-Lincoln 2001 / 640 pages ISBN-13: 978-0-07-239797-0 / MHID: 0-07-239797-7 (Out of Print) ISBN-13: 978-0-07-120197-1 / MHID: 0-07-120197-1 [IE - 2 Color] ISBN-13: 978-0-07-124951-5 / MHID: 0-07-124951-6 [IE - POD printing in 1 Color] Website: www.mhhe.com/vandenberg CONTENTS 1 The Importance of Economic Growth 2 Economic Growth Throughout History 3 The Evolution of Growth Models: From Adam Smith to Harrod-Domar 4 Solow’s Neoclassical Growth Model 5 How Well Does Solow’s Model Explain Economic Growth? 6 Technological Progress 7 Economic Growth and Population Growth Example: Kremer’s Model of Long-Run Economic Growth 8 Financial Markets and Economic Growth 9 The Rate of Saving and Economic Growth 10 International Trade and Economic Growth 11 Globalization and Economic Growth 12 Education, Human Capital, and Growth 13 Institutions and Economic Growth 14 Government Institutions and Economic Growth 15 Why Would Anyone Be Against Economic Growth? 16 Are There Limits to Growth? 17 The Future of Economic Growth GlossaryBibliography Advanced Microeconomics SCHAUM’S OUTLINE OF MICROECONOMIC THEORY 4th Edition By Dominick Salvatore, Fordham University 2006 (May 2006) / 384 pages ISBn-13: 978-0-07-146236-5 / MHID: 0-07-146236-8 A Schaum Professional Publication This revision has been updated to cover the three most important recent developments in microeconomics: game theory, oligopolistic behavior, and the economics of information. Schaum’s Outline of Microeconomics gives you a thorough grounding in the theories, principles, and background information on each topic in this vital field. Economics Regional Economics New THE ECONOMICS OF EUROPEAN INTEGRATION 2nd Edition By Baldwin 2006 (March 2006) / 512 pages ISBN-13: 978-0-07-711119-9 / MHID: 0-07-711119-2 McGraw-Hill UK Title The Economics of European Integration, 2/e provides students with an accessible presentation of the facts, theories and controversies driving rapid change in the heart of Europe. The authors combine essential elements of European history, institutions, law, politics and policies with clear and accessible explanations of the economic principles of European integration. The result is an expert analysis of the contemporary status of integration within the European Union. This second edition has been thoroughly updated and expanded to incorporate recent developments within the European Union, and to reflect current teaching in European Economics. New material in this edition includes coverage of economic integration, labour markets and migration; EU competition and state aid policy; and EU trade policy. Designed for students taking modules in European economics, the book offers a rigorous yet clear exposition of economic arguments alongside examples, illustrations, and questions that bring this contemporary topic to life. THE EUROPEAN UNION By Susan Senior Nello, University of Siena, Italy 2005 / 544 pages ISBN-13: 978-0-07-710781-9 / MHID: 0-07-710781-0 McGraw-Hill UK Title Website: www.mcgraw-hill.co.uk/textbooks/senior This book is an up to date, multi-disciplinary account of the European Union with material organised in a flexible way and it is designed to be accessible to a wide audience of students. The author has worked as an expert for the European Commission. CONTENTS Chapter 1 - An Introduction to European Integration: Definitions and Terminology Chapter 2 - A Brief History of the European Union Chapter 3 - The Decision-Making Institutions of the European Union Chapter 4 - Basic Instruments: The Theory of Trade and the EU Chapter 5 - The Theory of Integration Chapter 6 - From the Single Market to the ‘New Europe’ Chapter 7 - Movement of Labour, Immigration and Asylum Chapter 8 - The Long Road to Economic and Monetary Union Chapter 9 - The EU Budget Chapter 10 - The Common Agricultural Policy Chapter 11 - Fisheries Policy Chapter 12 - Environmental and Energy Policies Chapter 13 - EU Regional, Social and Employment Policies Chapter 14 - EU Social and Employment Policy Chapter 15 - Competition and Industrial Policies Chapter 16 - Transport Policy Chapter 17 - The EU and the GATT/WTO Chapter 18 - EU Trade and Aid policies Chapter 19 - Economic Relations between the EU and the US Chapter 20 - The Common Foreign and Security Policy Chapter 21 - EU Enlargement FEATURES New to this edition is a fully revised and expanded Part on EU Policies, including new chapters dedicated to Regional Policy, EU competition and state aid policy, and EU trade policy. Focus on the economic analysis of integration: The core of the book explores the topics of trade integration and the macroeconomics of European integration in full. The up-to-date economic coverage is ideal for students taking economics modules that do not require extensive analysis of social and policy issues. Further appendices of economic theory are also provided as appropriate. Learning features: The book provides a clear and consistent structure to aid student learning. Each chapter features boxed examples and illustrations, end of chapter summaries, self-assessment questions, essay questions, and lists of useful websites, further reading and references. Updates online: Integration initiatives continue to progress at a tremendous pace. Reflecting the need for currency and relevance in this fast-moving field, a range of online essays and articles on new developments and challenges will be posted on the Online Learning Centre at: www.mcgraw-hill.co.uk/textbooks/baldwinandwyplosz Contents Preface. PART I: HISTORY, FACTS AND INSTITUTIONS. History. Facts, law, institutions and the budget decision making. PART II: THE MICROECONOMICS OF ECONOMIC INTEGRATION. Essential microeconomic tools. The essential economics of preferential liberalisation. Market size and scale economies. Growth effects and capital market integration. Economic integration, labour markets and migration. PART III: EU POLICIES. The common agricultural policy. Location effects, economic geography & regional policy. EU competition and state aids policy. EU trade policy. PART IV: MONETARY INTEGRATION: HISTORY AND PRINCIPLES. A monetary history of Europe. The choice of an exchange rate regime. The European monetary system. PART V: MONETARY AND FISCAL POLICY IN THE EU. Optimum currency area. The European monetary union. Fiscal policy and the stability pact. The financial markets and the Euro INVITATION TO PUBLISH McGraw-Hill is interested in reviewing manuscript for publication. Please contact your local McGraw-Hill office or email to [email protected] Visit McGraw-Hill Education (Asia) Website: www.mcgraw-hill.com.sg 45 Economics Asian Economics the hong kong economy From Recovery to Restructure By Kui-Wai Li 2005 / 480 pages ISBN-13: 978-0-07-124780-1 / MHID: 0-07-124780-7 An Asian Publication The prolonged post-Asian Financial Crisis economic recession in Hong Kong requires new analysis. By looking at the economic performance since the 1980s, this book focuses on analysing the macroeconomic intricacies facing the Hong Kong economy. The economic boom in the pre-Asian Financial Crisis years has also given rise to various structural imbalances that could not sustain the economy after the burst of the bubble. The large producer services sector could arguably be the basis of imbalance. The short-term investment behaviour exhibited in the pre-1997 years has not fully adjusted. Demand-driven solutions can provide short-term rescue and recovery, while economic restructuring requires supply-driven solutions. There is still room for economic expansion in Hong Kong; the focus should return to the basics of economic growth and trade rather than rely on redistributive instruments and heavy government expenditures. Economic integration with the Mainland economy produces both complements and competition; strategies adopted should enable Hong Kong investors to make use of the growing economic pie in Mainland China. By considering the various macroeconomic issues, the book provides useful analysis for readers to arrive at their own economic decisions. Statistics For Economics USING STATISTICS IN ECONOMICS By Thomas 2005 ISBN-13: 978-0-07-710743-7 / MHID: 0-07-710743-8 McGraw-Hill UK Title Descriptive Statistics. Mean and Variance. Weighted Means. Frequency distributions. Cumulative and Relative Frequencies. Histograms. Basic Probability. Conditional Probabilities. Addition and Multiplication Rules. CONTENTS Part 1: Statistics Chapter 1. Discrete Probability Distributions Chapter 2. Continuous Variables Chapter 3. Basic Statistical Inference Chapter 4. Hypothesis Testing I Chapter 5. Hypothesis Testing II Chapter 6. More Probability and Inference Chapter 7. Contingency Tables and NonParametric Statistics Part 2: Introduction to Econometrics Chapter 8. The Purpose of Econometrics Chapter 9. Two Variable Correlation and Regression Chapter 10. Introduction to Non-Linear Regression Chapter 11. What Makes a Good Estimator Chapter 12. The Classical Two Variable Model Chapter 13. Introduction to Multiple Regression Chapter 14. Qualatative Effects in Regression Analysis Chapter 15. Some Problems with the Classical Model Chapter 16. Introduction to Dynamics CONTENTS List of Figures / List of Tables / Preface / 1 Hong Kong’s Development and the Economism Paradigm 2 Economic Performance Patterns since the 1980s 3 Productivity, Unit Labour Cost and Competitiveness 4 Fiscal Policy: Challenge, Dilemma and Leadership 5 he Monetary and Financial Sector 6 The Real Estate Market 7 Trade and Changes in Comparative Advantage 8 Economic Integration: The CompetitivityComplementarity Model 9 Where is the Hong Kong Economy Heading? / References / Index COMPLIMENTARY COPIES Complimentary desk copies are available for course adoption only. Kindly contact your local McGraw-Hill Representative or fax the Examination Copy Request Form available on the back pages of this catalog. Visit McGraw-Hill Education Website: www.mheducation.com 46
