9781429239974

Modern Principles of Economics

Cowen, Tyler; Tabarrok, Alex

ISBN 10: 1429239972 / 1-4292-3997-2
ISBN 13: 9781429239974
Publisher: Worth Publishers
Publication Date: 2011
Binding: Hardcover
Editorial Reviews:
Synopsis:
From the authors: "See the Invisible Hand. Understand Your World." That's the tagline of "Modern Principles" and our teaching philosophy. Nobel laureate Vernon Smith put it this way: "At the heart of economics is a scientific mystery... a scientific mystery as deep, fundamental and inspiring as that of the expanding universe or the forces that bind matter... How is order produced from freedom of choice?" We want students to be inspired by this mystery and by how economists have begun to solve it. Thus, we show how markets interconnect and respond in surprising ways to changes in resources and preferences. Consider, for example, how markets respond to a reduction in the supply of oil. Of course, the price of oil increases giving consumers an incentive to use less and suppliers an incentive to discover more. But an increase in the price of oil also encourages Brazilian sugar cane farmers to devote more of their production to ethanol and less to sugar thereby driving up the price of sugar. An increase in the price of sugar means a reduction in the quantity of candy demanded. So one way the market responds to a reduction in the supply of oil is by encouraging consumers to eat less candy! In analyses like this, we teach students to see the invisible hand and in so doing to understand their world. Similarly, we offer a unique and simple proof of the amazing invisible hand theorem that without any central direction competitive markets allocate production across firms in a way that minimizes aggregate costs! To understand their world students must understand when self-interest promotes the social interest and when it does not. Thus, "Modern Principles" has in-depth analyses of externalities, public goods, and ethical issues with market incomes and trade. Moreover, we always discuss economic theory in the context of real world problems such as the decline of the ocean fisheries, climate change, and the shortage of human organs for transplant.

 

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Modern Principles of Economics, by Cowen, 2nd Edition (ISBN: 1429239972 / 1-4292-3997-2)
Cowen, Tyler;Tabarrok, Alex
ISBN 10: 1429239972
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Book Description: Hardcover. Book Condition: New. Complimentary hardcover 2nd by Cowen. Bookseller Inventory # 095949

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Modern Principles of Economics (ISBN: 1429239972 / 1-4292-3997-2)
Cowen, Tyler;Tabarrok, Alex
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ISBN 13: 9781429239974
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Book Description: Worth Publishers. Hardcover. Book Condition: New. 1429239972 instructors edition identical to student edition except has publisher markings on cover. Great opportunity to save on this book. WE SHIP DAILY!!!. Bookseller Inventory # SKU2024008

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Modern Principles of Economics (ISBN: 1429239972 / 1-4292-3997-2)
Cowen, Tyler;Tabarrok, Alex
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Cowen, Tyler;Tabarrok, Alex
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Cowen, Tyler;Tabarrok, Alex
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Cowen, Tyler;Tabarrok, Alex
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Modern Principles of Economics (Hardback) (ISBN: 9781429239974)
Cowen, Tyler;Tabarrok, Alex
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ISBN 13: 9781429239974
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Book Description: Worth Publishers Inc.,U.S., United States, 2012. Hardback. Book Condition: New. 2nd Revised edition. 276 x 216 mm. Brand New Book. This text helps students understand how markets interconnect and respond to changes in resources and preferences. It contains in-depth analyses of externalities, public goods, ethical issues with market incomes and trade, and discusses economic theory in the context of real world problems such as climate change. Bookseller Inventory # AAC9781429239974

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Modern Principles of Economics (Hardback) (ISBN: 9781429239974)
Cowen, Tyler;Tabarrok, Alex
ISBN 10: 1429239972
ISBN 13: 9781429239974
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Book Description: Worth Publishers Inc.,U.S., United States, 2012. Hardback. Book Condition: New. 2nd Revised edition. 276 x 216 mm. Brand New Book. This text helps students understand how markets interconnect and respond to changes in resources and preferences. It contains in-depth analyses of externalities, public goods, ethical issues with market incomes and trade, and discusses economic theory in the context of real world problems such as climate change. Bookseller Inventory # AAC9781429239974

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Modern Principles of Economics (Hardcover) (ISBN: 1429239972 / 1-4292-3997-2)
Cowen, Tyler;Tabarrok, Alex
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ISBN 13: 9781429239974
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Book Description: Hardcover. Book Condition: New. 2nd. 224mm x 33mm x 277mm. Hardcover. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. 794 pages. 2.041. Bookseller Inventory # 9781429239974

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Modern Principles of Economics (ISBN: 1429239972 / 1-4292-3997-2)
Cowen, Tyler;Tabarrok, Alex
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Book Description: Worth Pub, 2011. Hardcover. Book Condition: Brand New. 2nd edition. 794 pages. 11.00x8.50x1.50 inches. In Stock. Bookseller Inventory # z-1429239972

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