Economics: Global Edition, 5/E

■ Economics: Global Edition, 5/E

■ Authors

    R. Glenn Hubbard, Columbia University

    Anthony P O'Brien

■ Pub Date : 27 Aug 2014  /   Copyright :  2015

■  1128 Page /  Pearson Higher Education


■ 정가 45,000원

■ ISBN-10 : 1292060115

    ISBN-13 : 9781292060118

■ Description

For two-semester Principles of Economics courses at universities

Reveal the relevance of economics through real-world business examples

One of the challenges of teaching Principles of Economics is fostering interest in concepts that may not seem applicable to students’ lives. Economics, Fifth 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

4. Economic Efficiency, Government Price Setting, and Taxes

II. Markets in Action

5. Externalities, Environmental Policy, and Public Goods

6. Elasticity: The Responsiveness of Demand and Supply

III. Firms in  the Domestic and International Economies

7. The Economics of Health Care

8. Firms, the Stock Market, and Corporate Governance

IV. Microeconomic Foundations: Consumers and Firms

9. Comparative Advantage and the Gains from International Trade

10. Consumer Choice and Behavioral Economics

V. Market Structure  and Firm Strategy

11. Technology, Production, and Costs

12. Firms in Perfectly Competitive Markets

13. Monopolistic Competition: The Competitive Model in a More

     Realistic Setting

14. Oligopoly: Firms in Less Competitive Markets

15. Monopoly and Antitrust Policy

VI. Markets for Factors of  Production

16. Pricing Strategy

VII. Information, Taxes, and the Distribution of


17. The Markets for Labor and Other Factors of Production

18. Public Choice, Taxes, and the Distribution of Income

VIII. Macroeconomic Foundations and Long-Run Growth

19. GDP: Measuring Total Production and Income

20. Unemployment and Inflation

21. Economic Growth, the Financial System, and Business Cycles

22. Long-Run Economic Growth: Sources and Policies

IX. Short-Run Fluctuations

23. Aggregate Expenditure and Output in the Short Run

24. Aggregate Demand and Aggregate Supply Analysis

X. Monetary and Fiscal Policy

25. Money, Banks, and the Federal Reserve System

26. Monetary Policy

27. Fiscal Policy

28. Inflation, Unemployment, and Federal Reserve Policy

XI. The International Economy29. Macroeconomics in an Open


30. The International Financial System 

■ 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.

NEW! A heavily revised Chapter 7, The Economics of Health Care, now includes several new demand and supply graphs that make the chapter’s content more analytical as well as more effective as an example of applied demand and supply analysis. The discussion of the debate over President Obama’s Patient Protection and Affordable Care Act has been extensively updated as well.

NEW! Chapter 10, Consumer Choice and Behavioral Economics, has been updated to include a new section on “The Behavioral Economics of Shopping,” which details the problems Ron Johnson encountered as CEO of J.C. Penney. This new content also includes coverage of several behavioral studies of consumer choice, strengthening what was already one of the text’s most engaging microeconomics chapters.

Foster thorough understanding via a flexible, student-focused


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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