Product Description

Aims to strike a balance between economic theory and applications while describing how economics can help in understanding market behaviour. As well as personal and financial decisions, other areas of behaviour in areas such as politics and crime are also linked to basic economics.

From the Publisher

This intermediate-level text shows how an understanding of economics can shed light on market behavior, guide personal and financial decisions, and explain behavior in such areas as politics, crime, and the family.

From the Back Cover

Rich with examples, this reality-based economics book continues its pioneering approach at integrating theory and applications, showing how macroeconomic analysis sheds light on market behavior, guides personal and financial decisions, and explains behavior in such areas as politics, crime, and the family. Presents over 100 topically varied, boxed 'Examples' which illustrate how economic models and principles help explain real-world phenomena, and intersperses more in-depth 'Applications' throughout, extending basic theory to topics of special interest, such as the economics of charitable contributions, the effects of import quotas, and minimum wage laws. Includes discussions and applications of economic analysis to historical phenomena; numerous non-US examples and illustrations; studies of topics and data from anthropology, law, biology, psychology, and other social sciences. Sixth Edition now analyzes time as a constraint upon consumption, provides a systematic introduction to the theory of games, and updates extensively throughout, with many new examples.For economists.