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Principles of Economics Moore McDowell

Principles of Economics By Moore McDowell

Principles of Economics by Moore McDowell

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Summary

Focuses on seven core principles of economics, which help students to make the link between economic theory and practice. This book includes exercises, problems and examples, that help students to employ economics principles to understand and explain the world around them.

Principles of Economics Summary

Principles of Economics by Moore McDowell

With an accessible approach, the third European edition of Principles of Economics provides students with the tools to analyze current economic issues. The book is underpinned by a focus on seven Core Principles, which help students to make the link between economic theory and practice. The 'economic naturalist' approach, supported by exercises, problems and examples, encourages students to employ economics principles to understand and explain the world around them.

Developed from the well-regarded US textbook by Frank and Bernanke, it presents an intuitive approach to economics and is suitable for all students taking a Principles of Economics course.

About Moore McDowell

Moore McDowell teaches at the University College Dublin. Rodney Thom teaches at the University College Dublin. Ivan Pastine teaches at the University College Dublin. Robert H. Frank received his M.A. in statistics from the University of California at Berkeley in 1971, and his Ph.D. in economics in 1972, also from U.C. Berkeley. He is the Goldwin Smith Professor of Economics at Cornell University, where he has taught since 1972 and where he currently holds a joint appointment in the department of economics and the Johnson Graduate School of Management. He has published on a variety of subjects, including price and wage discrimination, public utility pricing, the measurement of unemployment spell lengths, and the distributional consequences of direct foreign investment. For the past several years, his research has focused on rivalry and cooperation in economic and social behaviour. 2022 Nobel Prize winner, Professor Bernanke received his B.A. in economics from Harvard University in 1975 and his Ph.D. in economics from MIT in 1979. He taught at the Stanford Graduate School of Business from 1979 to 1985 and moved to Princeton University in 1985, where he was named the Howard Harrison and Gabrielle Snyder Beck Professor of Economics and Public Affairs where he served as chair of the Economics Department. Professor Bernanke is currently a Distinguished Fellow in Residence with the Economic Studies Program at the Brookings Institution.Professor Bernanke was sworn in on February 1, 2006, as chair and a member of the Board of Governors of the Federal Reserve System; his second term expired January 31, 2014. Professor Bernanke also served as chair of the Federal Open Market Committee, the Feds principal monetary policymaking body. Professor Bernanke was also chair of the Presidents Council of Economic Advisers from June 2005 to January 2006. Professor Bernankes intermediate textbook, with Andrew Abel and Dean Croushore, Macroeconomics, 9th Edition (Addison-Wesley, 2017), is a best-seller in its field. He has authored numerous scholarly publications in macroeconomics, macroeconomic history, and finance. He has done significant research on the causes of the Great Depression, the role of financial markets and institutions in the business cycle, and measurement of the effects of monetary policy on the economy.Professor Bernanke has held a Guggenheim Fellowship and a Sloan Fellowship, and he is a Fellow of the Econometric Society and of the American Academy of Arts and Sciences. He served as the director of the Monetary Economics Program of the National Bureau of Economic Research (NBER) and as a member of the NBERs Business Cycle Dating Committee. From 2001 to 2004 he served as editor of the American Economic Review, and as president of the American Economic Association in 2019. Professor Bernankes work with civic and professional groups includes having served two terms as a member of the Montgomery Township (New Jersey) Board of Education.In 2022, Dr. Bernanke, was awarded the Nobel Prize in Economics in Stockholm, Sweden. He was awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2022 for his work on bank runs and measures to prevent them. He changed our understanding of economic downturns. Dr. Bernankes research showed how bank runs and failed monetary policy prolonged the Great Depression (1929-1939). Bernankes work was invaluable during the 2008 global financial crisis when, as Fed Chair, he applied the lessons from the great depression and pioneered the emergency lending programs the central banks used to address the crisis.

Table of Contents

Part 1: Introduction

1. Thinking Like An Economist
2. Markets, Specialisation and Economic Efficiency
3. Markets, Supply, Demand and Elasticity

Part 2: Competition and the 'Invisible Hand'

4. Demand: The Benefit Side of the Market
5. Perfectly Competitive Supply: the Cost Side of the Market
6. Efficiency and Exchange
7. Profits, Entry and Exit: The Basis for the 'Invisible Hand'

Part 3: Market Imperfections 1: Market Power

8. Imperfect Competition and the Consequences of Market Power
9. Thinking Strategically 1: Interdependence, Decision Making and the Theory of Games
10. Thinking Strategically 2: Competition Among the Few

Part 4: Market Imperfections 2: Externalities, Information, Distribution and the Role of the Government in a Market Economy

11. Externalities and Property Rights
12. The Economics of Information
13. Labour Markets, Income Distribution, Wealth and Poverty
14. Government in the Market Economy: Public Sector Production and Regulation
15. The Credit Crunch and the Great Contraction: An Application of Some Micro-economics to Help Explain a Macro-economic Crisis

Part 5: Macroeconomics: Issues and Data

16. Macroeconomics: the Bird's Eye View of the Economy
17. Measuring Economic Activity: Gross Domestic Product
18. Measuring the Price Level and Inflation
19. The Labour Market: Wages and Unemployment

Part 6: The Economy in the Long Run

20. Economic Growth, Productivity and Living Standards
21. Capital Markets: Saving, Investment and Financial Intermediaries

Part 7: The Economy in the Short Run

22. Short-Term Economic Fluctuations
23. Money and Interest Rates
24. The IS-LM Model
25. Stabilising the Economy 1: the Role of Fiscal Policy
26. Stabilising the Economy 2: the Role of Monetary Policy
27. Aggregate Demand, Aggregate Supply and Inflation
28. The New Keynesian Phillips Curve: Expectations and Inflation Policy

Part 8: The International Economy

29. Exchange Rates, Capital Flows and the Balance of Payments

Additional information

GOR006413074
9780077132736
0077132734
Principles of Economics by Moore McDowell
Moore McDowell
Used - Very Good
Paperback
McGraw-Hill Education - Europe
20120316
864
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
This is a used book - there is no escaping the fact it has been read by someone else and it will show signs of wear and previous use. Overall we expect it to be in very good condition, but if you are not entirely satisfied please get in touch with us

Customer Reviews - Principles of Economics