Principles of Economics

Reviewers tell us that Case/Fair is one of the all-time bestselling principles of economics texts because they trust it to be clear, thorough and complete. This well-respected author team is joined for the 9th edition by a new co-author, Sharon Oster. Sharon’s research and teaching experience brings new coverage of modern topics and an applied approach to economic theory, as demonstrated in the new Economics in Practice feature. Introduction to Economics; The Market System: Choices Made by Households and Firms; Market Imperfections and the Role of Government; Concepts and Problems in Macroeconomics; The Core of Macroeconomic Theory ; Further Macroeconomic Issues; The World Economy Case/Fair/Oster, believe that the best way to understand how market opportunities operate and the best way to understand basic economic theory is to work through the perfectly competitive model first, including discussions of output markets and input markets, and the connec

Karl E Case (Chip):  is Professor of Economics at Wellesley College where he has taught for 30 years. For two decades he has been a Visiting Scholar at the Federal Reserve Bank of Boston where he serves as a member of the Bank’s Academic Advisory Board.  Before coming to Wellesley, he served as Head Tutor in Economics (director of undergraduate studies) at Harvard, where he won the Allyn Young Teaching Prize. He was Associate Editor of the Journal of Economic Perspectives and of theJournal of Economic Education and was a member of the AEA’s Committee on Economic Education.   He teaches at least one section of the principles course every year.

o        Case is also a founding partner in the real estate research firm of Fiserv Case Shiller Weiss, Inc. and serves as a member of the Board of Directors of the Mortgage Guaranty Insurance Corporation and of the American Real Estate and Urban Economics Association.

o        He received his B.A. from Miami University in 1968, spent three years on active duty in the Army, and received his Ph. D. in economics from Harvard University in 1976. 

o        Professor Case’s research has been in the areas of real estate, housing and public finance. He is author or co-author of five books including Principles of Economics, Economics and Tax Policy and Property Taxation:  The Need for Reform and has published numerous articles in professional journals.  The book he has co-authored with Ray Fair for more than eight editions now has been adopted at more than 450 colleges and universities across the country. 

o        For the last 25 years, his research has focused on real estate markets and prices.  He has authored a number of studies that attempt to isolate the causes and consequences of boom and bust real estate cycles and their relationship to economic performance. 

 

 Ray Fair:  is Professor of Economics at Yale University. He is a member of the Cowles Foundation at Yale and a Fellow of the Econometric Society.

o        He received a B.A. in economics from Fresno State College in 1964 and a Ph.D. in economics from M.I.T. in 1968. He taught at Princeton University from 1968 to 1974 and has been at Yale since 1974.

o        Professor Fair’s research has primarily been in the areas of macroeconomics and econometrics, with particular emphasis on macroeconometric model building. He has also done work in the areas of finance, voting behavior, and aging in sports. His publications include Specification, Estimation, and Analysis of Macroeconometric Models (Harvard Press, 1984), Testing Macroeconometric Models (Harvard Press, 1994), and Estimating How the Macroeconomy Works (Harvard Press, 2004).

o        Professor Fair has taught introductory and intermediate economics at Yale. He has also taught graduate courses in macroeconomic theory and macroeconometics. 

o        Professor Fair’s United States and multi-country models are available for use on the Internet free of charge. The address is http://fairmodel.econ.yale.edu. Many teachers have found that having students work with the United States model on the Internet is a useful complement to even an introductory macroeconomics course.