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Key Benefit: Hubbard & O'Brien are still keeping it real in the third edition with new and updated coverage that reflects the current state of the economy and the recent financial meltdown. Key Topics: MACROECONOMICS:Economics: Foundations and Models; Trade-offs, Comparative Advantage, and the Market System; Where Prices Come From: The Interaction of Demand and Supply; Economic Efficiency, Government Price Setting, and Taxes; Firms, the Stock Market, and Corporate Governance; Comparative Advantage and the Gains from International Trade; GDP: Measuring Total Production and Income; Unemployment and Inflation; Economic Growth, the Financial System, and Business Cycles; Long-Run Economic Growth: Sources and Policies; Aggregate Expenditure and Output in the Short Run; Aggregate Demand and Aggregate Supply Analysis; Money, Banks, and the Federal Reserve System; Monetary Policy; Fiscal Policy; Inflation, Unemployment, and Federal Reserve Policy; Macroeconomics in an Open Economy; The International Financial System Market: For anyone in business who wants to benefit from understanding the economic forces behind their work.
Glenn Hubbard policymaker, professor, and researcher.
R.Glenn Hubbard is the Dean and Russell L. Carson Professor of Finance and Economics in the Graduate School of Business at Columbia University and Professor of Economics in Columbia’s Faculty of Arts and Sciences. He is also a research associate of the National Bureau of Economic Research and a director of Automatic Data Processing, Black Rock Closed-End Funds, Dex Media, Duke Realty, KKR Financial Corporation, and Ripplewood Holdings. He received his Ph.D. in economics from Harvard University in 1983. From 2001–2003, he served as Chairman of the White House Council of Economic Advisers, and from 1991–1993, he was Deputy Assistant Secretary of the U.S. Treasury Department. Glenn Hubbard’s fields of specialization are public economics, financial markets and institutions, corporate finance, macroeconomics, industrial organization, and public policy. He is the author of more than 90 articles in leading journals, including the American Economic Review, Journal of Finance, Journal of Financial Economics, Journal of Political Economy, Journal of Public Economics, Quarterly Journal of Economics, RAND Journal of Economics, and Review of Economics and Statistics. His research has been supported by grants from the National Science Foundation, the National Bureau of Economic Research, and numerous private foundations.
Tony O’Brien award-winning professor and researcher.
Anthony Patrick O’Brien is a professor of economics at Lehigh University. He received his Ph.D. from the University of California, Berkeley, in 1987. He has taught principles of economics for more than 15 years, in both large sections and small honors classes. He received the Lehigh University Award for Distinguished Teaching. He was formerly the director of the Diamond Center for Economic Education and was named a Dana Foundation Faculty Fellow and Lehigh Class of 1961 Professor of Economics. He has been a visiting professor at the University of California, Santa Barbara, and the Graduate School of Industrial Administration at Carnegie Mellon University. Anthony O’Brien’s research has dealt with such issues as the evolution of the U.S. automobile industry, the sources of U.S. economic competitiveness, the development of U.S. trade policy, the causes of the Great Depression, and the causes of black–white income differences. His research has been published in leading journals, including the American Economic Review, the Quarterly Journal of Economics, the Journal of Money, Credit, and Banking, Industrial Relations, and the Journal of Economic History. His research has been supported by grants from government agencies and private foundations. In addition to teaching and writing, Anthony O’Brien also serves on the editorial board of the Journal of Socio-economics.
Table of Contents
Part 1: Introduction Chapter 1. Economics: Foundations and Models Chapter 2. Tradeoffs, Comparative Advantage, and the Market System Chapter 3. Where Prices Come From: The Interaction of Demand & Supply Chapter 4. Economic Efficiency, Government Price Setting, and Taxes Part 2: Firms in the Domestic and International Economies Chapter 5. Firms, the Stock Market, and Corporate Governance Chapter 6. Comparative Advantage and the Gains from International Trade Part 3: Macroeconomic Foundations and Long-Run Growth Chapter 7. GDP: Measuring Total Production and Income Chapter 8. Unemployment & Inflation Chapter 9. Economic Growth, the Financial System, and Business Cycles Chapter 10. Long-Run Growth: Sources and Policies Part 4: Short-Run Fluctuations Chapter 11. Aggregate Expenditure and Output in the Short Run Chapter 12. Aggregate Demand and Aggregate Supply Analysis Part 5: Monetary and Fiscal Policy Chapter 13. Money, Banks, and the Federal Reserve System Chapter 14. Monetary Policy Chapter 15. Fiscal Policy Chapter 16. Inflation, Unemployment, and Federal Reserve Policy Part 6: The International Economy Chapter 17. Macroeconomics in an Open Economy Chapter 18. The International Financial System