Engaging authors, unbiased presentations of essential ideas, and a knack for revealing the 'invisible hand' of economics at work inform the thoroughly updated new edition of Modern Principles, drawing on a wealth of captivating applications to show readers how economics shed light on business, politics, world affairs, and everyday life.
Tyler Cowen Holbert C. Harris Professor of Economics at George Mason University, USA, and Director of the Mercatus Center and the James M. Buchanan Center for Political Economy. With Alex Tabarrok he co-writes the Marginal Revolution blog, often ranked as the #1 economics blog. Alex Tabarrok Bartley J. Madden Chair in Economics at the Mercatus Center at George Mason University and director of research for The Independent Institute. Tabarrok is co-author with Tyler Cowen of the popular economics blog, Marginal Revolution.
1. The Big Ideas 2. The Power of Trade and Comparative Advantage 3. Supply and Demand 4. Equilibrium: How Supply and Demand Determine Prices 5. Elasticity and its Applications 6. Taxes and Subsidies 7. The Price System: Signals, Speculation and Prediction 8. Price Ceilings and Price Floors 9. International Trade 10. Externalities: When the Price Is Not Right 11. Costs and Profit Maximization Under Competition 12. Competition and the Invisible Hand 13. Monopoly 14. Price Discrimination and Pricing Strategy 15. Oligopoly and Game Theory 16. The Economics of Network Goods: Competing for Monopoly 17. Monopolistic Competition and Advertising 18. Labor Markets 19. Public Goods and the Tragedy of the Commons 20. Political Economy and Public Choice 21. Economics, Ethics and Public Policy 22. Managing Incentives 23. Stock Markets and Personal Finance 24. Asymmetric Information 25. Consumer Choice