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Essentials of Economics, 6th edition

Published by Pearson (September 18, 2020) © 2021

  • Glenn Hubbard Columbia University
  • Anthony Patrick O'Brien Lehigh University
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Economics can often be a challenging topic of study, as many of the principles and concepts you'll read about, including opportunity cost, trade-offs, scarcity, and demand and supply, may not seem applicable to your daily life. Essentials of Economics makes these concepts relevant and interesting by demonstrating how real businesses apply them to make decisions every day.

The 6th Edition exemplifies recent developments in US and world economies through new real-world business and policy examples. No matter your career path, whether it's opening an art studio, trading on Wall Street or bartending at the local pub, you'll benefit from grasping the economic forces behind your work.

PART I: INTRODUCTION

1. Economics: Foundations and Models

Appendix: Using Graphs and Formulas  

2. Trade-offs, Comparative Advantage, and the Market System

3. Where Prices Come From: The Interaction of Demand and Supply    

           

PART II: MARKETS IN ACTION: POLICY AND APPLICATIONS

4. Market Efficiency and Market Failure

5. The Economics of Health Care

           

PART III: MICROECONOMIC FOUNDATIONS: CONSUMERS AND FIRMS

6. Firms, the Stock Market, and Corporate Governance

7. Consumer Choice and Elasticity                    

8. Technology, Production, and Costs   

           

PART V: MARKET STRUCTURE AND FIRM STRATEGY

9. Firms in Perfectly Competitive Markets         

10. Monopoly and Antitrust Policy

11. Monopolistic Competition and Oligopoly    

 

PART VI: MACROECONOMIC FOUNDATIONS

12. GDP: Measuring Total Production and Income        

13. Unemployment and Inflation         

           

PART VIII: LONG-RUN ECONOMIC GROWTH AND SHORT-RUN ECONOMIC FLUCTUATIONS

14. Economic Growth, the Financial System, and Business Cycles

15. Aggregate Demand and Aggregate Supply Analysis   

Appendix: Macroeconomic Schools of Thought

           

PART VIIII: MONETARY AND FISCAL POLICY

16. Money, Banks, and the Federal Reserve System     

17. Monetary Policy    

18. Fiscal Policy

19. Comparative Advantage, International Trade, and Exchange Rates   

 

 

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