Economics: Private Markets and Public Choice plus MyEconLab, 7/E
Robert B. Ekelund, Jr., Auburn University
Rand W. Ressler, University of Louisiana, Lafayette
Robert D. Tollison, Clemson University

ISBN-10: 0321356578
ISBN-13: 9780321356574

Publisher: Addison-Wesley
Copyright: 2006
Format: Cloth Package; 797 pp
Status: Out of Print

Suggested retail price: $152.33
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In August 2006, we are launching a new, streamlined version of MyEconLab to better fit the needs of both students and professors. Order the ISBN above if your course begins before 8/1/06, or click here if your course begins after 8/1/06.

Maximizing happiness means more than maximizing wealth, and yet many students assume economists only care about "the bottom line." Economics: Private Markets and Public Choice emphasizes that economics is, at its base, about our society's well-being and our individual happiness in all forms, not just profit. The authors teach students to apply economic concepts not only to key policy decisions like taxes, inflation, and free trade, but also to personal decisions such as household finance, marriage, and career choices.

The Seventh Edition is enhanced by MyEconLab, the online homework system featuring automatically graded graphing problems and proven tutorial tools. Access to MyEconLab comes with every new textbook at no additional cost to the student.

  • The authors build a solid foundation in basic, modern economic theory and connect that theory with policy, issues, and news in today’s world through hundreds of applications and examples.

    • In the Economics After College features, students think about how they can balance their personal goals with their monetary goals to maximize their individual happiness.
    • Through Economics in Real Time, students look at the ‘big picture’ of economics by analyzing national and global issues such as Social Security, free trade, and the state of U.S. agriculture.
    • What’s in It for You? builds decision-making skills by framing everyday actions in economic terms, such as balancing a checkbook or buying scalped concert tickets.
    • Point/Counterpoint features, which appear at the end of each Part, look at pivotal debates in policy by presenting the opposing viewpoints of two renowned economists.

  • The authors explore the extent to which society’s welfare is advanced when markets are used to allocate resources to their most desired private uses.The text includes an extensive discussion of environmental economics and market approaches to such problems as pollution, endangered species, and finite natural resources.
  • In microeconomics, Chapters 1-13 offer a precise discussion of core microeconomic theory, followed by applied microeconomics topics (Chapters 14—15) and a thoughtful discussion of public choice (Chapter 16).
  • In macroeconomics, the text follows a simple, orderly structure of modern macroeconomic theory and policy that uses a historical transition from classical economics (Chapter 19) to Keynesian economics (Chapter 20) to aggregate demand and supply (Chapter 21).
  • MyEconLab, Addison-Wesley’s online homework and tutorial solution, provides your students with targeted feedback and an individualized study plan to keep them focused on key economic concepts in every chapter.  For more information on MyEconLab, visit http://www.myeconlab.com/.
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  • The new, four-color format of the Seventh Edition helps keep students focused on the most important concepts and clarifies the graphical discussions.
  • Economic welfare is now discussed within the context of consumer and producer surplus and supply and demand (Chapter 4).
  • Chapter 10 offers an integrated discussion of all forms of imperfect competition, including game theory and cartels, that combines the two separate chapters of the previous edition.
  • Chapter 11 includes a concise, modern treatment of competitive labor markets that is based on the critical ideas from two separate chapters in the previous edition.
  • Contemporary microeconomic issues and debates appear throughout, including the “fate” of Microsoft, the role of entrepreneurship in today’s economy, the impact of technological developments in communications, the “market” for vital organs and organ transplants, and the “real cost” of Wal-Mart to communities.
  • Macroeconomic chapters feature up-to-date coverage of budget deficits, inflation and monetary policy, the impact of economic freedom on economic growth, the winners and losers from free trade associations such as CAFTA, and the growing trade with China.
  • New applications and end-of-chapter "Working with the Web" problems appear in every chapter.

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Part I The Power of Economic Thinking

Chapter 1 Economics in Perspective

Chapter 2 Opportunity Cost, Specialization, and Trade

Chapter 3 Private Markets and Prices: Laws of Demand & Supply

Chapter 4 Markets, Economic Welfare, and Politics

 

Part II The Architecture of Private Markets

Chapter 5 Elasticity

Chapter 6 The Logic of Consumer Choice and Demand

Chapter 7 The Firm and Costs of Production

Chapter 8 Competitive Markets

Chapter 9 Monopoly: The Firm as Industry

Chapter 10 Imperfect Competition

 

Part III Input Markets and Income Distribution

Chapter 11 Competitive Labor Markets and Unions

Chapter 12 Entrepreneurship and the Organization of Production

Chapter 13 Income Distribution, Poverty, and Health Care

 

Part IV Applied Microeconomics and Public Choice

Chapter 14 Antitrust, Regulation, and Public Policy

Chapter 15 Environmental Economics

Chapter 16 Public Choice

 

Part V The Fundamentals of Macroeconomics

Chapter 17 Contemporary Macroeconomics

Chapter 18 Measuring the Macroeconomy

Chapter 19 Classical Macroeconomic Theory

Chapter 20 Keynesian Macroeconomics

Chapter 21 Aggregate Demand and Aggregate Supply

Chapter 22 Fiscal Policy and the Supply Side: Using the Tools

Chapter 23 Taxes, the Deficit, and the Debt

 

Part VI Money

Chapter 24 Money, Banking, and the Federal Reserve

Chapter 25 Money and Inflation

 

Part VII Macroeconomic Policy and Economic Growth

Chapter 26 Macroeconomic Theory & Policy

Chapter 27 Global Economic Growth and Development

 

Part VIII International Trade and the Global Economy

Chapter 28 International Trade

Chapter 29 International Finance

 

Glossary

Credits

Index

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    If your course begins before 8/1/06, click here. Starting in August 2006, this text will come packaged with an access kit for the new easy-to-use format of MyEconLab,which requires no set-up by the professor and offers students book-specific practice, online homework, access to the eBook, and learning resources. (For that ISBN, click here.) Professors who wish to use advanced course management should order the ISBN above to receive the book packaged with MyEconLab in CourseCompass.

    Maximizing happiness means more than maximizing wealth, and yet many students assume economists only care about "the bottom line." Economics: Private Markets and Public Choice emphasizes that economics is, at its base, about our society's well-being and our individual happiness in all forms, not just profit. The authors teach students to apply economic concepts not only to key policy decisions like taxes, inflation, and free trade, but also to personal decisions such as household finance, marriage, and career choices.

    The Seventh Edition is enhanced by MyEconLab, the online homework system featuring automatically graded graphing problems and proven tutorial tools. Access to MyEconLab comes with every new textbook at no additional cost to the student.

  • 032146205XEconomics: Private Markets and Public Choice plus MyEconLab in CourseCompass plus eBook Student Access Kit, 7/E
    Ekelund, Ressler & Tollison
    © 2006 | Addison-Wesley | Cloth Package | Out of Stock
    ISBN-10: 032146205X | ISBN-13: 9780321462053
    Brief Description
  • 0321456823Economics: Private Markets and Public Choice, Books a la Carte plus MyEconLab in CourseCompass plus eBook Student Access Kit, 7/E
    Ekelund, Ressler & Tollison
    © 2006 | Addison-Wesley | Paper Package | Out of Stock
    ISBN-10: 0321456823 | ISBN-13: 9780321456823

    • This text comes packaged with an access kit for the new easy-to-use format of MyEconLab, which requires no set-up by the professor. With this, students can access practice problems for each chapter in the book, graphing questions, learning resources, and live tutoring. Professors who plan to use advanced course management online should order the book with MyEconLab in CourseCompass. View ‘Alternate Versions’ of this book on the web catalog page, or contact your local representative for details.

    Maximizing happiness means more than maximizing wealth, and yet many students assume economists only care about "the bottom line." Economics: Private Markets and Public Choice emphasizes that economics is, at its base, about our society's well-being and our individual happiness in all forms, not just profit. The authors teach students to apply economic concepts not only to key policy decisions like taxes, inflation, and free trade, but also to personal decisions such as household finance, marriage, and career choices.

    The Seventh Edition is enhanced by MyEconLab, the online homework system featuring automatically graded graphing problems and proven tutorial tools. Access to MyEconLab comes with every new textbook at no additional cost to the student.

  • 0321455274Economics: Private Markets and Public Choice, Books a la Carte plus MyEconLab plus eBook 2-semester Student Access Kit, 7/E
    Ekelund, Ressler & Tollison
    © 2006 | Addison-Wesley | Paper Package | Out of Stock
    ISBN-10: 0321455274 | ISBN-13: 9780321455277
    Brief Description

    • CourseSmart is an exciting new choice for students looking to save money. As an alternative to purchasing the print textbook, students can purchase an electronic version of the same content and save up to 50% off the suggested list price of the print text. With a CourseSmart etextbook, students can search the text, make notes online, print out reading assignments that incorporate lecture notes, and bookmark important passages for later review. For more information, or to purchase access to the CourseSmart eTextbook, visit www.coursesmart.com.

  • 0321342291Economics: Private Markets and Public Choice, CourseSmart eTextbook, 7/E
    Ekelund, Ressler & Tollison
    © 2006 | Addison-Wesley | On-line Supplement; 797 pages | Instock
    ISBN-10: 0321342291 | ISBN-13: 9780321342294
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