Last edition Elsevier Acemoglu, Laibson, List: An evidence-based approach to economics Throughout Economics, 2nd Edition, authors Daron Acemoglu, David Laibson, and John List use real economic questions and data to help students learn about the world around them. Taking a fresh approach, the authors use the themes of optimization, equilibrium, and empiricism to illustrate the power of simple economic ideas, and their ability to explain, predict, and improve what happens in the world. Each chapter begins with an empirical question that is later answered using data in the Evidence-Based Economics feature. As a result of the text’s practical emphasis, students learn to apply economic principles to guide the decisions they make in their own lives.
Last Edition
ISBN 13: 9781292214504
Imprint: Pearson
Language: English
Authors: Daron Acemoglu
Pub Date: 08/2018
Pages: 824
Illus: Illustrated
Weight: 1,000.000 grams
Size: h 150 X 280 mm
Product Type: Softcover
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- • Emphasis on the role of microeconomics in examining prominent social issues. From natural disaster management to global inequality, students examine important social issues–such as how to reduce fracking-generated earthquakes by applying the concept of externalities, inequality in Scandinavia, broadband access, and more.
- • Coverage of the recent election to teach topics like probability. Students use analytic tools to understand how to interpret forecasts on the eve of the election (Chapter 15).
- • Coverage describing the growth of economic inequality, and emphasizing that inequality is not measured in economic aggregates, such as GDP (Chapter 19).
- • Examination of causality. By studyingrecent research that reports a positive correlation between expensive weddings and high rates of divorce, students will learn to determine the difference between correlation and causality, and better understand the role of omitted variables (Chapter 2).
- • Coverage of the fracking revolution and its impact on oil and gas prices. Supply and demand come alive when students can see how the recent rightward shift in the oil supply curve--due to the development of fracking technologies--has played a role in halving the equilibrium price of oil (Chapter 4).
- • Focus on the shared economy. The role of surge pricing in equilibrating Uber driver supply and rider demand is discussed, helping students to more deeply understand the markets that they personally use (Chapter 7).
- Kamer Daron Acemoglu (Turkish: born September 3, 1967) is a Turkish-born American economist who has taught at the Massachusetts Institute of Technology (MIT) since 1993. He is currently Elizabeth and James Killian Professor of Economics at MIT. He was named Institute Professor in 2019. Born to Armenian parents in Istanbul, Acemoglu was educated in the UK and completed his PhD at the London School of Economics (LSE) at 25. He lectured at LSE for a year before joining the MIT. He was awarded the John Bates Clark Medal in 2005. Acemoglu is best known for his work on political economy. He has authored hundreds of papers, many of which are co-authored with his long-time collaborators Simon Johnson and James A. Robinson. With Robinson, he authored Economic Origins of Dictatorship and Democracy (2006) and Why Nations Fail (2012). The latter, an influential book on the role that institutions play in shaping nations' economic outcomes, prompted wide scholarly and media commentary. Described as a centrist, he believes in a regulated market economy. He regularly comments on political issues, economic inequality, and a variety of specific policies.
- PART I: INTRODUCTION TO ECONOMICS
- 1. The Principles and Practice of Economics 2. Economic Methods and Economic Questions 3. Optimization: Doing the Best You Can 4. Demand, Supply, and Equilibrium
- PART II: FOUNDATIONS OF MICROECONOMICS
- 5. Consumers and Incentives 6. Sellers and Incentives 7. Perfect Competition and the Invisible Hand 8. Trade 9. Externalities and Public Goods 10. The Government in the Economy: Taxation and Regulation 11. Markets for Factors of Production
- PART III: MARKET STRUCTURE
- 12. Monopoly 13. Game Theory and Strategic Play 14. Oligopoly and Monopolistic Competition
- PART IV: EXTENDING THE MICROECONOMIC TOOLBOX
- 15. Trade-offs Involving Time and Risk 16. The Economics of Information 17. Auctions and Bargaining 18. Social Economics
- PART V: INTRODUCTION TO MACROECONOMICS
- 19. The Wealth of Nations: Defining and Measuring Macroeconomic Aggregates 20. Aggregate Incomes
- PART VI: LONG-RUN GROWTH AND DEVELOPMENT
- 21. Economic Growth 22. Why Isn’t the Whole World Developed?
- PART VII: EQUILIBRIUM IN THE MACROECONOMY
- 23. Employment and Unemployment 24. Credit Markets 25. The Monetary System
- PART VIII: SHORT-RUN FLUCTUATIONS AND MACROECONOMIC POLICY
- 26. Short-Run Fluctuations 27. Countercyclical Macroeconomic Policy
- PART IX: MACROECONOMICS IN A GLOBAL ECONOMY
- 28. Macroeconomics and International Trade 29. Open Economy Macroeconomics
- CHAPTERS ON THE WEB
- 1. Financial Decision Making 2. Economics of Life, Health, and the Environment 3. Political Economy
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