Brief contents preface xii 21 income inequality, poverty, and discrimination 22 health care 465 490 part one 23 immigration 5 introduction to economics and the economy 1 limits, alternatives, and choices 4 part seven 2 the market system and the circular flow 31 gdp, growth, and instability 24 an introduction to macroeconomics 531 parttwo 25 measuring. Sean is an assistant professor of economics at scripps college in claremont, california. Fiscal policy concerns the use of changes in the amount of government spending, g and taxation t to influence the national economy. Since introducing the aggregate supplyaggregate demand model as a fundamental tool for learning economics in the first edition of their textbook, william baumol and alan blinder have, for over two decades, led the teaching and learning of economic with their authoritative and timely discussion. He is author or coauthor of five books, including principles of economics, economics and tax policy, and property taxation.
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Like most definitions in economics, there are plenty of competing ideas and ways to explain the term microeconomics. A good is scarce if the choice of one alternative requires that another be given up. Principles of microeconomics first published in 1998. Readers of principles of economics, twelfth edition, global edition, come away with a basic understanding of how market economies function, an appreciation for the things they do well, and a sense of things they do poorly. These make it ideally suited to introductory courses in economics, which in australia are now dominated by business studies students and other noneconomics majors.
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