Survey of Economics: Principles and Tools

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9780130601438: Survey of Economics: Principles and Tools
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Repeatedly emphasizing five key principles related to opportunity cost, marginal benefits relationship to marginal cost, diminishing returns, cost and benefits spillover, and the real value of money or income; this text introduces students to basic theories and methods of economics. Chapters discuss market equilibrium, measuring responsiveness, production and cost, monopolies, public goods, the labor market, unemployment and inflation, economic growth, aggregate supply and demand, Keynesian economics, the banking system and the Federal Reserve, monetary policy and inflation, and international trade and finance. The CD-ROM contains self-assessment quizes, tutorial walk-throughs of key graphs, and a graph builder application. Annotation c. Book News, Inc., Portland, OR (booknews.com)

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By using "The Five Key Principles" of economics repeatedly, illustrating them with compelling real-world examples, and giving students lots of practice at "Active Learning," students will learn by doing! Survey of Economics: Principles and Tools teaches students how to think like economists by showing them how to use economic concepts in their everyday lives and careers.

About the Author:

Arthur O'Sullivan is a professor of economics at Oregon State University. After receiving his B.S. Degree in economics at the University of Oregon, he spent two years in the Peace Corps, working with city planners in the Philippines. He received his Ph.D. in economics from Princeton University in 1981, and then spent 11 years at the University of California, Davis, where he won several teaching awards. At Oregon State University, he teaches microeconomics at different levels, from the introductory course to advanced courses for doctoral students. He is the author of the best-selling textbook, Urban Economics, currently in its fourth edition.

Professor O'Sullivan's research explores economic issues concerning urban land use, environmental protection, and public finance. His articles appear in many economics journals, including Journal of Urban Economics, Journal of Environmental Economics and Management, National Tax Journal, and Journal of Public Economics.

Professor O'Sullivan lives with his family in Corvallis, Oregon. He enjoys outdoor activities, including the kids' sport du jour (soccer, basketball, baseball, badminton, lawn hockey, or tackle the guy with the ball). Indoors, he is learning how to play the fiddle, much to the dismay of his family and the delight of the neighborhood dogs.

Steven M. Sheffrin is dean of the division of social sciences and professor of economics at the University of California, Davis. He has been a visiting professor at Princeton University, Oxford University, and the London School of Economics, and served as a financial economist with the Office of Tax Analysis of the United States Department of Treasury. He has been on the faculty at Davis since 1976 and served as the chairman of the department of economics. He received his B.A. from Wesleyan University and his Ph.D. in economics from the Massachusetts Institute of Technology.

Professor Sheffrin is the author of seven other books and monographs and over 80 articles in the fields of macroeconomics, public finance, and international economics. His most recent books include Rational Expectations (Second Edition) and Property Taxes and Tax Revolts: The Legacy of Proposition 13 (with Arthur O'Sullivan and Terri Sexton), both from Cambridge University Press.

Professor Sheffrin has taught macroeconomics at all levels, from large lectures of principles (classes of 400) to graduate classes for doctoral students. He is the recipient of the Thomas Mayer Distinguished Teaching Award in economics.

He lives with his wife Anjali (also an economist) and his two children in Davis, California. In addition to a passion for current affairs and travel, he plays a tough game of tennis.

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