Essentials of Economics, Global Edition, 4/E

■ Essentials of Economics, Global Edition, 4/E

■ Authors

    R. Glenn Hubbard, Columbia University

    Anthony P O'Brien

■ Pub Date : 22 Sep 2014  /   Copyright : 2015

■  744Page /  Pearson Higher Education


■ 정가 40,000원

■ ISBN-10 : 1292059435

    ISBN-13 : 9781292059433 

■ Description

For one-semester Principles of Economics courses at two- and four-year colleges and universities

Reveal the relevance of economics through real-world business


One of the challenges of teaching Principles of Economics is fostering interest in concepts that may not seem applicable to students’ lives. Essentials of Economics, Fourth Edition makes economics relevant by demonstrating how real businesses use economics to make decisions every day. Regardless of their future career path—opening an art studio, trading on Wall Street, or bartending at the local pub—students will benefit from understanding the economic forces behind their work.

This program provides a better teaching and learning experience—for you and your students. It will help you to:

• Personalize learning with MyEconLab: This online homework, tutorial, and assessment program fosters learning and provides tools that help instructors to keep students on track.

• Show students how economics is relevant: Relatable features ground course material in the real world, showing students how these ideas are relevant and facilitating understanding.

• Foster thorough understanding via a flexible, student-focused approach: An engaging, captivating writing style and student-friendly learning aids motivate and engage students.

■ Table of Contents

I. Introduction
1. Economics: Foundations and Models
2. Trade-offs, Comparative Advantage, and the Market System
3. Where Prices Come From: The Interaction of Demand and Supply

II. Markets in Action: Policy and Applications
4. Market Efficiency and Market Failure  
5. The Economics of Healthcare

III. Microeconomic Foundations: Consumers and Firms
6. Firms, the Stock Market, and Corporate Governance
7. Consumer Choice and Elasticity  
8. Technology, Production, and Costs

IV. Market Structure and Firm Strategy
9. Firms in Perfectly Competitive Markets
10. Monopoly and Antitrust
11. Monopolistic Competition and Oligopoly

V. Macroeconomic Foundations

12. GDP: Measuring Total Production and Income
13. Unemployment and Inflation

VI. Long-Run and Short-Run Fluctuations
14. Economic Growth, the Financial System and Business Cycles
15. Aggregate Demand and Aggregate Supply Analysis

VII. Monetary and Fiscal Policy
16. Money, Banks, and the Federal Reserve System
17. Monetary Policy
18. Fiscal Policy
19. Comparative Advantage, International Trade, and Exchange Rates

■ Features

Show students how economics is relevant

Real-world business chapter-opening cases set a context for learning, spark students' interest, and provide a unifying theme for the chapter by showing how the economic concepts presented impact a real business. Many of the companies included are new to this edition, and all those featured in previous editions have been updated with current information.

A Personal Dimension: Economics in Your Life feature in each chapter opener helps students relate to the material. Students are prompted to think about questions posed in this feature as they work through the chapter. At the end of the chapter, the authors provide answers to these questions.

An Inside Look features at the end of each chapter help students apply economic thinking to current events and policy debates. These features consist of newspaper articles that illustrate how key principles have been used by the company featured in the chapter-opening case to make a business decision. The authors provide an analysis of the article, corresponding graph(s), and Thinking Critically exercises. Chapters 1–4 include new An Inside Look features that help students apply economic thinking to current events and policy debates. Additional articles and analysis are updated weekly on MyEconLab.

Making the Connection features help students tie economic concepts to current events and policy issues by revealing how the information they are learning has been used in actual situations. The fifth edition incorporates 27 new, contemporary Making the Connection features designed to help students see the relevance of course material.

Foster thorough understanding via a flexible, student-focused approach

An accessible writing style brings concepts to life. 94% of 1,500 students from different colleges and universities across the country who reviewed Hubbard/O'Brien rated the writing style an "A" or "B" compared to their current Principles of Economics textbook in use.

Solved problems throughout the text provide models of how to solve an economic problem by breaking it down step-by-step. Each solved problem includes a problem statement, delineated steps to solve the problem, a graph, and a Your Turn feature that directs students to related end-of-chapter problems for immediate practice. This keeps students focused on the main ideas of each chapter, and prevents them from getting bogged down due to a lack of basic math or word-problem skills.

A flexible presentation of aggregate demand and aggregate supply (AD-AS) enables instructors to teach the course in a fashion that suits their goals. The text includes a layered, full-color acetate for the Dynamic AD-AS Model and basic AD-AS graphs that make it possible to omit Dynamic AD-AS altogether.


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