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Hubbard & O'Brien motivate the study of economics through real business examples. The book motivates users by demonstrating how real business uses economics to make real decisions on a daily basis. Covers the different Market Structures in an intuitive fashion so that readers of all backgrounds and fields can grasp the importance and flow of these concepts. Chapter opening cases, examples and figures motivate the economic principles covered, while Solved Problems provide models of how to solve an economic problem - keeping readers focused on the main ideas of each chapter, and preventing them from getting bogged down due to a lack of basic math or "word problem" skills. In-depth coverage of economics with particular focus on Perfect Competition, Monopolistic Competition, Oligopoly and extensive coverage of game theory, Monopoly Economic Efficiency, Government Price Setting, and Taxes, Aggregate Demand and Aggregate Supply Analysis. MARKET: For anyone in business who wants to benefit from understanding the economic forces behind their work.
Table of Contents
Economics: Foundations and Models Appendix: Using Graphs and Formulas
Tradeoffs, Comparative Advantage, and the Market System
Where Prices Come From: The Interaction of Demand & Supply
Economic Efficiency, Government Price Setting, and Taxes Appendix: Calculating Consumer Surplus and Producer Surplus
Markets in Action
Elasticity: The Responsiveness of Demand and Supply
Firms in the Domestic & International Economies
Firms, the Stock Market, and Corporate Governance Appendix: Tools to Analyze Firms' Financial Information
Comparative Advantage and the Gains from International Trade Appendix: Multinational Firms