Essentials of Economics
Engage students in the essential principles of economics and demonstrate how they relate to real-life issues facing individuals, businesses, society, and economists today Essentials of Economics, 9th edition provides a clear, concise and accessible introduction to economics, making it the ideal tex...
| Otros Autores: | , |
|---|---|
| Formato: | Libro electrónico |
| Idioma: | Inglés |
| Publicado: |
Harlow, England :
Pearson Education Limited
[2023]
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| Edición: | Ninth edition |
| Materias: | |
| Ver en Biblioteca Universitat Ramon Llull: | https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009863799206719 |
Tabla de Contenidos:
- Front Cover
- Half Title
- Title Page
- Copyright Page
- About the authors
- Brief contents
- Detailed contents
- Preface
- Student and lecturer resources
- Acknowledgements
- Part A INTRODUCTION
- 1 Economic issues
- 1.1 Global Economic Issues
- COVID-19 and the global health emergency
- Global inflation
- The environment and the global climate emergency
- 1.2 The Core of Economics
- The problem of scarcity
- Demand and supply
- 1.3 Dividing Up the Subject
- Microeconomics
- Macroeconomics
- 1.4 Modelling Economic Relationships
- The production possibility curve
- The circular flow of goods and incomes
- Models and data
- 1.5 Economic Systems
- The command economy
- The free-market economy
- The price mechanism
- The mixed market economy
- Chapter 1 Boxes
- 1.1 The Opportunity Costs of Studying: What are you sacrificing?
- 1.2 Business Cycles: The inherent volatility of economies
- 1.3 Nominal and Real House Prices: Going through the roof
- 1.4 Command Economies: Rise and fall of planning in Russia
- Part B MICROECONOMICS
- 2 Markets, demand and supply
- 2.1 Demand
- The relationship between demand and price
- The demand curve
- Other determinants of demand
- Movements along and shifts in the demand curve
- 2.2 Supply
- Supply and price
- The supply curve
- Other determinants of supply
- Movements along and shifts in the supply curve
- 2.3 The Determination of Price
- Equilibrium price and output
- Movement to a new equilibrium
- 2.4 The Free-Market Economy
- Advantages of a free-market economy
- Problems with a free-market economy
- Chapter 2 Boxes
- 2.1 UK House Prices: Unearthing the foundations of house price patterns
- 2.2 Stock Market Prices: Taking stock of share prices
- 2.3 Commodity Prices: Riding the commodities Big Dipper
- 3 Markets in action.
- 3.1 Price Elasticity of Demand
- The price elasticity of demand
- Measuring the price elasticity of demand
- Interpreting the figure for elasticity
- Determinants of price elasticity of demand
- 3.2 Price Elasticity of Demand and Consumer Expenditure
- 3.3 Price Elasticity of Supply (PES)
- The determinants of price elasticity of supply
- 3.4 Other Elasticities
- Income elasticity of demand
- Cross-price elasticity of demand
- 3.5 Markets and Adjustment over Time
- Short-run and long-run adjustment
- Price expectations and speculation
- 3.6 Markets Where Prices are Controlled
- Setting a minimum (high) price
- Setting a maximum (low) price
- Chapter 3 Boxes
- 3.1 The Measurement of Elasticity
- 3.2 Advertising and its Effect on Demand Curves: How to increase sales and price
- 3.3 Elasticities and Relationships: Where there's a relationship, there's an elasticity
- 3.4 Short Selling: Gambling on a fall in share prices
- 3.5 A Minimum Unit Price for Alcohol: A way of reducing alcohol consumption
- 3.6 UK Payday Loan Cap: Capping the cost of short-term credit
- 3.7 The Effect of Imposing Taxes on Goods: Who ends up paying?
- 4 The demand decision
- 4.1 Consumer Choice
- Utility and the rational consumer
- The rational consumer's optimal combination of goods
- 4.2 The Timing of Costs and Benefits
- Intertemporal choices
- Maximising utility with intertemporal choices
- 4.3 Uncertainty and Risk
- Choice under risk and uncertainty
- Attitudes towards risk
- Insurance: a way of removing risks
- Choices under asymmetric information
- 4.4 Behavioural Economics
- What is behavioural economics?
- Processing limited information
- Taking other people into account
- Biased behaviour
- Implications for economic policy
- Chapter 4 Boxes
- 4.1 Satisfaction and Consumer Demand: Identifying the benefit drivers.
- 4.2 Optimal Consumption Bundles: Equi-marginal principle in consumption
- 4.3 Intertemporal Decision Making and the Rational Consumer: Incorporating impatience into models of consumer choice
- 4.4 Futures Markets: A way of reducing uncertainty
- 4.5 Problems with Insurance Markets: Adverse selection and moral hazard
- 4.6 Nudging People: How to change behaviour without taking away choice
- 5 The supply decision
- 5.1 Production and Costs: Short Run
- Short-run and long-run changes in production
- Production in the short run: the law of diminishing returns
- Measuring costs of production
- Costs and output
- 5.2 Production and Costs: Long Run
- The scale of production
- Long-run average cost
- The relationship between long-run and short-run average cost curves
- Long-run cost curves in practice
- Postscript: decision- making in different time periods
- 5.3 Revenue
- Total, average and marginal revenue
- Average and marginal revenue curves when price is not affected by the firm's output
- Average and marginal revenue curves when price varies with output
- Shifts in revenue curves
- 5.4 Profit Maximisation
- Some qualifications
- 5.5 Problems with Traditional Theory
- Explaining actual producer behaviour
- Alternative aims
- Chapter 5 Boxes
- 5.1 Diminishing Returns in the Bread Shop: Is the baker using his loaf?
- 5.2 Malthus and the Dismal Science of Economics: Population growth + diminishing returns = starvation
- 5.3 The Relationship Between Averages and Marginals
- 5.4 Costs and the Economic Vulnerability of Firms: The behaviour of costs and firms' financial well-being
- 5.5 The Optimum Combinations of Inputs: Equi-marginal principle in production
- 5.6 Minimum Efficient Scale: The extent of economies of scale in practice
- 6 Market structures
- 6.1 The Degree of Competition
- 6.2 Perfect Competition.
- Assumptions
- The short-run equilibrium of the firm
- The short-run supply curve
- The long-run equilibrium of the firm
- 6.3 Monopoly
- What is a monopoly?
- Barriers to entry
- Equilibrium price and output
- Monopoly versus perfect competition: which best serves the public interest?
- Potential competition or potential monopoly? The theory of contestable markets
- 6.4 Monopolistic Competition
- Assumptions
- Equilibrium of the firm
- Non-price competition
- Monopolistic competition and the public interest
- 6.5 Oligopoly
- The two key features of oligopoly
- Competition and collusion
- Collusive oligopoly
- Non-collusive oligopoly: the breakdown of collusion
- Non-collusive oligopoly: assumptions about rivals' behaviour
- Oligopoly and the consumer
- 6.6 Game Theory
- Simultaneous single-move games
- Repeated simultaneous-move games
- Sequential-move games
- 6.7 Price Discrimination
- Advantages to the firm
- Price discrimination and the public interest
- Chapter 6 Boxes
- 6.1 E-Commerce: Has technology shifted market power?
- 6.2 Breaking the Monopoly on live Premier League Football: The sky is the limit for the English Premier League
- 6.3 OPEC: The history of the world's most famous cartel
- 6.4 Buying Power: What's being served up by the UK grocery sector?
- 6.5 The Prisoners' Dilemma: Choosing whether to deny or confess
- 6.6 Profit-Maximising Prices and Output For a Third-Degree Price Discriminating Firm: Identifying different prices in different markets
- 7 Wages and the distribution of income
- 7.1 Wage Determination in a Perfect Market
- Perfect labour markets
- The supply of labour
- The demand for labour: the marginal productivity theory
- Wages and profits under perfect competition
- 7.2 Wage Determination in Imperfect Markets
- Firms with power
- The role of trade unions.
- Bilateral monopoly
- The efficiency wage hypothesis
- 7.3 Inequality
- Types of inequality
- Measuring the size distribution of income
- The functional distribution of income
- The distribution of wealth
- Causes of inequality
- 7.4 The Redistribution of Income
- Taxation
- Benefits
- The tax/benefit system and the problem of disincentives: the 'poverty trap'
- Chapter 7 Boxes
- 7.1 Labour Market Trends: Patterns in employment
- 7.2 Wages under Bilateral Monopoly: All to play for?
- 7.3 The Gender Pay Gap: Wage inequalities between men and women
- 7.4 Minimum Wage Legislation: A way of helping the poor?
- 7.5 Inequality and Economic Growth: Macroeconomic implications of income inequality
- 7.6 Uk Tax Credits: An escape from the poverty trap?
- 8 Market failures and government policy
- 8.1 Social Efficiency
- 8.2 Market Failures: Externalities and Public Goods
- Externalities
- Public goods
- 8.3 Market Failures: Monopoly Power
- Deadweight loss under monopoly
- Conclusions
- 8.4 Other Market Failures
- Imperfect information
- Immobility of factors and time lags in response
- Protecting people's interests
- Other objectives
- How far can economists go in advising governments?
- 8.5 Government Intervention: Taxes and Subsidies
- The use of taxes and subsidies
- Assessing the use of taxes and subsidies
- 8.6 Government Intervention: Laws and Regulation
- Laws prohibiting or regulating undesirable structures or behaviour
- Regulatory bodies
- 8.7 Other Forms of Government Intervention
- Changes in property rights
- Provision of information
- The direct provision of goods and services
- Nationalisation and privatisation
- 8.8 More or Less Intervention?
- Drawbacks of government intervention
- Advantages of the free market
- Should there be more or less intervention in the market?.
- 8.9 The Environment: A Case Study in Market Failure.
