Principles of Economics with Student Resource Access 12 Months, 6th Edition

Annotation

Principles of Economics 6th edition combines microeconomics and macroeconomics into one volume for students who take a full years course.Focuses on important concepts and analyses necessary for students in an introductory economics course. Resource Access 12 Months. Stonecash UniSYD; Byford RMIT; Libich LaTrobe; King Monash

Author Biography

Joshua Gans holds the Skoll Chair in Innovation and Entrepreneurship at the Rotman School of Management, University of Toronto. He studied economics at the University of Queensland and Stanford University. He currently teaches network and digital market strategy. Professor Gans's research ranges over many fields of economics including economic growth, game theory, regulation and the economics of technological change and innovation. His work has been published in academic journals including the American Economic Review, Journal of Economic Perspectives, Journal of Political Economy and the Rand Journal of Economics. Joshua also has written the popular book, Parentonomics (published by MIT Press) and founded the Core Economics blog(economics.com.au). Currently, he is an associate editor at Management Science and the Journal of Industrial Economics. He has also undertaken consulting activities (through his consulting firm, CoRE Research), advising governments and private firms on the impact of microeconomic reform and competition policy in Australia. In 2007, he was awarded the Economic Society of Australia's Young Economist Award for the Australian economist under 40 who has made the most significant contribution to economic knowledge. In 2008, he was elected as a Fellow of the Academy of Social Sciences Australia. Professor Gans lives in Toronto with his spouse and three children. Stephen King is Professor of Economics at Monash University and a Member of the Economic Regulation Authority of Western Australia. After several years as Dean of the Business Faculty, Stephen has returned to the classroom and is once again teaching first year students. Prior to joining Monash, Stephen was a Commissioner at the Australian Competition and Consumer Commission. Stephen completed his economics degree at the Australian National University, and his PhD at Harvard University in 1991. Stephen has taught a variety of courses, including introductory courses at Harvard University and the University of Melbourne. Stephen specialises in industrial economics, although his research has covered a wide range of areas, including game theory, corporate finance, privatisation and tax policy. His work has been published in academic journals such as the Journal of Industrial Economics, European Economic Review and Journal of Political Economy. Stephen regularly provides advice to both government and private firms on a range of issues relating to regulation and competition policy. He is a Lay Member of the High Court of New Zealand and a Fellow of the Academy of Social Sciences in Australia. Joshua Gans holds the Skoll Chair in Innovation and Entrepreneurship at the Rotman School of Management, University of Toronto. He studied economics at the University of Queensland and Stanford University. He currently teaches network and digital market strategy. Professor Gans's research ranges over many fields of economics including economic growth, game theory, regulation and the economics of technological change and innovation. His work has been published in academic journals including the American Economic Review, Journal of Economic Perspectives, Journal of Political Economy and the Rand Journal of Economics. Joshua also has written the popular book, Parentonomics (published by MIT Press) and founded the Core Economics blog(economics.com.au). Currently, he is an associate editor at Management Science and the Journal of Industrial Economics. He has also undertaken consulting activities (through his consulting firm, CoRE Research), advising governments and private firms on the impact of microeconomic reform and competition policy in Australia. In 2007, he was awarded the Economic Society of Australia's Young Economist Award for the Australian economist under 40 who has made the most significant contribution to economic knowledge. In 2008, he was elected as a Fellow of the Academy of Social Sciences Australia. Professor Gans lives in Toronto with his spouse and three children. Jan Libich has taught and done research at La Trobe University in Melbourne since 2005, and more recently also at VSB-Technical University Ostrava, Czech Republic. He holds a PhD from the University of New South Wales and earlier degrees from the Prague School of Economics. Jan's research focuses on macroeconomic topics, primarily monetary and fiscal policies, as well as microeconomic areas of game theory and sports economics. He has published two dozen papers in academic journals including Macroeconomic Dynamics, Journal of Institutional and Theoretical Economics, Economic Modelling and Journal of Sports Economics. Over the past decade Jan has presented his research at over 90 seminars and conferences, including invited talks at high-profile policy institutions such the International Monetary Fund and nine central banks (e.g. the European Central Bank, the U.S. Federal Reserve and the Reserve Bank of Australia). Jan is also a dedicated teacher who has received a number of awards for his contributions to students' learning. For example, he was awarded a 2012 Citation by the Australian government; and based on student nominations, reached the top spot for La Trobe University in the UniJobs Lecturer of the Year' poll - four years in a row (2009-2012). Martin Byford teaches Microeconomic Theory, Industrial Organisation and Game Theory at RMIT. He studied Engineering at University of Melbourne, and Economics at La Trobe University, before returning to University of Melbourne to complete a PhD in Economics in 2007, during which he was supervised by Joshua Gans. His research interests lie in the field of industrial organisation; specifically price theory, market structure and dynamic oligopoly. His article,Addictive Drug Use Management Policies in a Long-Run Economic Model' (with Harry Clarke), was published in Australian Economic Papers in 2009. N. Gregory Mankiw is Robert M. Beren Professor of Economics at Harvard University. He studied economics at Princeton University and MIT. Dr. Mankiw is a prolific writer and a regular participant in academic and policy debates. His research includes work on price adjustment, consumer behavior, financial markets, monetary and fiscal policy, and economic growth. His published articles have appeared in academic journals, such as the American Economic Review, Journal of Political Economy, and Quarterly Journal of Economics, and in more widely accessible forums, including The New York Times, The Washington Post, The Wall Street Journal, and Fortune. Dr. Mankiw has been a research associate of the National Bureau of Economic Research, an adviser to the Federal Reserve Bank of Boston and the Congressional Budget Office, and a member of the ETS test development committee for the advanced placement exam in economics. From 2003 to 2005, he served as chairman of the President's Council of Economic Advisers. Robin Stonecash is Director of Executive Education at the Sydney Business School at the University of Sydney, and Director of Stonecash Associates, a boutique consulting firm. She studied economics at Swarthmore College, the University of Wisconsin, and the University of New South Wales. She has taught a variety of courses in microeconomics, macroeconomics and international trade to undergraduates and graduates. She currently consults on strategy and negotiation as well as teaching economics, strategy and negotiation to MBA and executive students. Robin's research interests cover a wide range of topics, including competition policy, privatisation, and international trade and development. Her work has been published in several journals, including the Economic Record, Prometheus and Public Performance and Management Review. Professor Stonecash has also done several studies on the efficiency gains from outsourcing and has consulted widely for private companies and government organisations such as AusAID and the Departments of Ageing and Disability and Community Services.

Table of Contents

Part I: Introduction

1. Ten lessons from economics
2. Thinking like an economist
3. Interdependence and the gains from trade Part II: Supply and demand I: How markets work
4. The market forces of supply and demand
5. Elasticity and its application
6. Supply, demand and government policies Part III: Supply and demand II: Markets and welfare
7. Consumers, producers and the efficiency of markets
8. Application: the costs of taxation
9. Application: international trade Part IV: The economics of the public sector
10. Externalities
11. Public goods and common resources
12. The design of the tax system Part V: Firm behaviour and the organisation of industry
13. The costs of production
14. Firms in competitive markets
15. Monopoly
16. Business strategy
17. Competition policy
18. Monopolistic competition Part VI: The economics of labour markets
19. The markets for the factors of production
20. Earnings, unions and discrimination
21. Income inequality and poverty Part VII: Topics for further study
22. The theory of consumer choice
23. Frontiers of microeconomics Part VIII: The data of macroeconomics
24. Measuring a nation's income
25. Measuring the cost of living Part IX: The real economy in the long run
26. Production and growth
27. Saving, investment and the financial system
28. The natural rate of unemployment Part X: Money and prices in the long run
29. The monetary system
30. Inflation: its causes and costs Part XI: The macroeconomics of open economies
31. Open-economy macroeconomics: basic concepts
32. A macroeconomic theory of the open economy Part XII: Short-run economic fluctuations
33. Aggregate demand and aggregate supply
34. The influence of monetary and fiscal policy on aggregate demand
35. The short-run trade-off between inflation and unemployment
36. Global Financial Crisis 2008 and beyond NEW Part XIII: Final thoughts
37. Five debates over macroeconomic policy

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