Robert H. Frank,
Cornell University Ben S. Bernanke,
Princeton University (formerly)
ISBN: 007723183x Copyright year: 2009
New to this Edition
More and clearer emphasis on the core principles: If we asked a thousand economists to provide their own versions of the most important economic principles, we’d get a thousand different lists. Yet to dwell on their differences would be to miss their essential similarities. It is less important to have exactly the best short list of principles than it is to use some well-thought-out list of this sort.
Outsourcing discussion supports comparative advantage material in Chapter 2. Students will see a full-spectrum view of production possibilities and the realities economies face considering outsourcing decisions.
Chapter 7 makes strong connections among market equilibrium and efficiency, the cost of preventing price adjustments, economic profit, and the Invisible Hand Theory.
Chapter 11 features important policy decisions and uses economics to sort out the best options. Health care, environmental regulation, international trade, and income redistribution are all discussed in this relevant and interesting chapter.
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