Economics: Principles, Applications and Tools, Student Value Edition

ISBN-10: 0136091776
ISBN-13: 9780136091776
Series: Economics
Pages: 800
Language: English
Published: 2009-04-16
Publisher: Prentice Hall
Authors: Arthur O'Sullivan, Steven Sheffrin, Stephen Perez

Description

This modern, Micro first book has a strong foundation in demand and supply. Its thoughtful coverage of change in demand vs. change in quantity demanded (also in supply coverage) enables readers to better visualize and truly understand the difference between these 2 fundamental concepts. Its hallmark feature includes a focus on the 5 Key Principles of Economics: 1) Opportunity Cost, 2) The Marginal Principle (comparing marginal benefits and marginal costs), 3) Diminishing Returns, 4) The Spillover Principle (for externalities in production and consumption), and, 5) The Reality Principle (distinguishing real from nominal magnitudes). For economists, financial analysts and other finance professionals.