Product Description

These two highly-respected authors have revised this best-selling book to include more current, modern subject matter and events while maintaining those features that have contributed to its great success. It continues to use stories, graphs, and equations and a unified, logical organization to make economic concepts easy-to-understand and relevant to all readers. Users of this book see the connection between growth, trade, comparative advantage, and the production possibilities frontier. When readers understand how a simple competitive market system works, they are ready to focus on problems of real-world markets. Currency data has been updated, with coverage of deflation, the effects of the war with Iraq and the war on terrorism, and the wars' impact on the national deficit. A comprehensive overview introducing economics begins the book; subsequent topics include: foundations of microeconomics: consumers and firms; market imperfection and the role of government; concepts and problems in macroeconomics; the goods and money markets; macroeconomic analysis; and the world economy. An excellent desk reference for economists; this book will serve any business owner, as an understanding of basic economics will prove helpful in all ventures.

Product Details

• Amazon Sales Rank: #299601 in Books
• Published on: 2006-08-12
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 896 pages

From the Publisher
Written by an award-winning educator and a highly respected macroeconomist, this best-selling introduction to economics demonstrates the relevance of economics in students' studies, lives, and the world. It shows them that economics is a powerful way of thinking and actually teaches them how to think like an economist and how to use economics to interpret world events. This student-friendly, hands-on approach to economics provides a unified approach to economic theory, issues and policies. A lively writing style, clear explanations, good graphs, relevant examples, and an unparalleled supplements package keep students motivated throughout the course.

From the Back Cover
This best-selling introduction to economics shows readers that economics is a powerful way of thinking and actually teaches them how to thinklike an economist and how to use economics to interpret world events. Reader-friendly and hands-on in approach, it provides a unified approach to economic theory, issues and policies -- using a variety of methods (stories, graphs, and equations) to present economics principles. Offers exceptionally up-to-date coverage in data, examples, events and topics. Begins with an introduction to economic basics, then explores microeconomics and macroeconomics, in depth. Considers both consumers and firms (including the capital market and the investment decision); market imperfections and the role of government; and current applied microeconomics issues (public finance; the economics of labor markets and labor unions; and health care, immigration, and urban problems). Explores macroeconomic principles and policy; macroeconomic analysis and issues; debates in macroeconomics and economic growth (Monetarism New Classical Theory; Supply-Side Economics; economic growth and productivity). Integrates global/international concerns/issues throughout. For anyone interested in a solid introduction to economics.

About the Author
Karl E Case (Chip):  is Professor of Economics at Wellesley College where he has taught for 30 years. For two decades he has been a Visiting Scholar at the Federal Reserve Bank of Boston where he serves as a member of the Bank’s Academic Advisory Board.  Before coming to Wellesley, he served as Head Tutor in Economics (director of undergraduate studies) at Harvard, where he won the Allyn Young Teaching Prize. He was Associate Editor of the Journal of Economic Perspectives and of theJournal of Economic Education and was a member of the AEA’s Committee on Economic Education.   He teaches at least one section of the principles course every year.

o        Case is also a founding partner in the real estate research firm of Fiserv Case Shiller Weiss, Inc. and serves as a member of the Board of Directors of the Mortgage Guaranty Insurance Corporation and of the American Real Estate and Urban Economics Association.

o        He received his B.A. from Miami University in 1968, spent three years on active duty in the Army, and received his Ph. D. in economics from Harvard University in 1976. 

o        Professor Case’s research has been in the areas of real estate, housing and public finance. He is author or co-author of five books including Principles of Economics, Economics and Tax Policy and Property Taxation:  The Need for Reform and has published numerous articles in professional journals.  The book he has co-authored with Ray Fair for more than eight editions now has been adopted at more than 450 colleges and universities across the country. 

o        For the last 25 years, his research has focused on real estate markets and prices.  He has authored a number of studies that attempt to isolate the causes and consequences of boom and bust real estate cycles and their relationship to economic performance. 

 Ray Fair:  is Professor of Economics at Yale University. He is a member of the Cowles Foundation at Yale and a Fellow of the Econometric Society.

o        He received a B.A. in economics from Fresno State College in 1964 and a Ph.D. in economics from M.I.T. in 1968. He taught at Princeton University from 1968 to 1974 and has been at Yale since 1974.

o        Professor Fair’s research has primarily been in the areas of macroeconomics and econometrics, with particular emphasis on macroeconometric model building. He has also done work in the areas of finance, voting behavior, and aging in sports. His publications include Specification, Estimation, and Analysis of Macroeconometric Models (Harvard Press, 1984), Testing Macroeconometric Models (Harvard Press, 1994), and Estimating How the Macroeconomy Works (Harvard Press, 2004).

o        Professor Fair has taught introductory and intermediate economics at Yale. He has also taught graduate courses in macroeconomic theory and macroeconometics. 

o        Professor Fair’s United States and multi-country models are available for use on the Internet free of charge. The address is http://fairmodel.econ.yale.edu. Many teachers have found that having students work with the United States model on the Internet is a useful complement to even an introductory macroeconomics course. 

Sharon Oster:  is Dean of the Yale School of Management at Yale University.  She joins the ninth edition of the Case/Fair text.

o        Sharon Oster has a B.A. in Economics from Hofstra University and a Ph.D. in Economics from Harvard University. 

o        Professor Oster’s research is in the area of industrial organization.  She has worked on problems on diffusion of innovation in a number of different industries, the effect of regulations on business, and on competitive strategy.  She has published a number of articles in these areas and is the author of several books, including Modern Competitive Analysis and The Strategic Management of Nonprofits. 

o        Prior to joining the School of Management at Yale, Professor Oster taught for a number of years in the Yale Economics department.  In the department, Professor Oster taught both introductory and intermediate microeconomics to the undergraduates as well as several graduate courses in industrial organization.  Since 1982, Professor Oster has taught primarily in the Management School, where she teaches both the core microeconomics class for the MBA students and courses in the area of Competitive Strategy.  Professor Oster also consults widely for both businesses and nonprofit organizations and has served on the boards of several publicly traded companies and nonprofit organizations.

Customer Reviews

Good combo
This review is for Principles of Economics (7th Edition). I accidentally bought this book instead of Principals of Macroeconomics which looks almost the same. After I received it, I realized it was the incorrect book. I went the publisher's website and did some research. This book includes all the information I needed for the Macro class. It also contains the full contents of both the publisher's Macro and Micro books. Turns out this book was a great book to keep for future references.

In addition to this being a great find, this book is very well written and I had no trouble understanding all the points.

Excellent book for economic students in their first year
This book presents and explains both Micro and Macro Theory in a very friendly way. It explains step by step the functions of the micro and macro theory and describes the fuctions of the instituions and organizations involve in the economy as a whole. It gives historical background, which many students look for in order to understand how? why? who? the study of economics. Besides it explains really well the economic terminology introduce as you read the book. Finally the book presents current event cases through the chapters which are related it to the ideas presented in the reading.

Economic Foundation in Single Book
So far, the text provides a thorough, organized, and simple enough read. Considering I am taking a combined Micro/Macro class this semester, the organization of the book is proving to be a godsend with all the information I am having to digest at a quick pace. The book can be a bit repetative in some of its examples, though, but I guess it's a method to reach anyone in the audience. My only true gripe is that I do not think that it is worth it's $145 price tag, especially since the International version is selling for a third of the price. The information is exactly the same, but the problems and case studies are different. Still, if this book was meant to cover two base classes, I guess the price could be worse. Amazon, of course, was the best (and most reliable) seller of this item. I needed the normal version, and a lot of sellers on eBay were trying to push the International Version as the regular text.