When asked to describe this text, most Lipsey readers use the same word: precise. The authors do not gloss over subjects when presenting economic ideas; rather, they offer a patient explanation of the concept and back it up with the latest research and data. Taken separately, neither theory nor data alone can give readers a true understanding of the idea, but when combined these elements give students a complete view of economics in the real world.
What is Economics?: Economic Issues and Concepts; How Economists Work. An Introduction to Demand and Supply: Demand, Supply, and Price; Elasticity; Markets in Action. Consumers and Products: Consumer Behavior; Producers in the Short Run; Producers in the Long Run. Market Structure and Efficiency: Competitive Markets; Monopoly, Cartels, and Price Discrimination; Imperfect Competition and Strategic Behavior; Economic Efficiency and Public Policy. Factor Markets: How Factor Markets Work; Labor Markets; Interest Rates and the Capital Market. Government in the Market Economy: Market Failures and Government Intervention; The Economics of Environmental Protection; Taxation and Public Expenditure. The United States in the Global Economy: The Gains from International Trade; Trade Policy.
For all readers interested in microeconomics.
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Dr. Richard G. Lipsey is currently professor emeritus of economics at Simon Fraser University and Fellow of the Canadian Institute for Advanced Research and member of their large-scale, international research project on Economic Growth and Policy. He is an officer of the Order of Canada, a fellow of the Royal Society of Canada and the Econometric Society and a past president of the Canadian Economic Society and the Atlantic Economic Society. He also holds honorary doctorates from the Universities of McMaster, Victoria, Carleton, Queen's, Toronto, Guelph, Western Ontario, Essex (England) and UBC. Dr. Lipsey received his B.A. from UBC., M.A. from Toronto and PhD from London School of Economics.
Christopher Ragan is an Associate Professor of Macroeconomics and Economic Policy at McGill University. He received his Ph.D. from Massachusetts Institute of Technology. He has served as Special Advisor for the Bank of Canada in Ottawa and as Associate Dean of Arts for McGill University. He is currently the Editor in Chief of World Economic Affairs.
Paul Storer received his Ph.D. in 1992 from the University of Western Ontario. Prior to joining Western in 1996, he served as an economist for the Bank of Canada and as a faculty member at the University of Quebec at Montreal. Storer's teaching and research interests include macroeconomics, money and banking, labor, and Canadian economic policy and issues. His current research focuses on economic integration in North America and on the economics of education. In 1997, 2001, and 2004 he received the CBE Dean's research award. He received the 2004 “Excellence in Teaching Award, one of two awarded each year by the University.
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