Description
Book SynopsisGlenn Hubbard, policymaker, professor, and researcher. Hubbard is Dean emeritus 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 Fixed-Income Funds, and MetLife. He received a PhD in economics from Harvard University in 1983. From 2001 to 2003, he served as chair of the White House Council of Economic Advisers and chair of the OECD Economic Policy Committee, and from 1991 to 1993, he was deputy assistant secretary of the US Treasury Department. He currently serves as co-chair of the nonpartisan Committee on Capital Markets Regulation. Hubbard's fields of specialization are public economics, financial markets and institutions, corporate finance, macroeconomics, industrial organization, and public policy
Table of Contents
PART 1: INTRODUCTION
- 1. Economics: Foundations and Models
- Appendix: Using Graphs and Formulas
- 2. Trade-offs, Comparative Advantage, and the Market System
- 3. Where Prices Come From: The Interaction of Demand and Supply
- 4. Economic Efficiency, Government Price Setting, and Taxes
- Appendix: Quantitative Demand and Supply Analysis
PART 2: MARKETS IN ACTION: POLICY AND APPLICATIONS
- 5. Externalities, Environmental Policy, and Public Goods
- 6. Elasticity: The Responsiveness of Demand and Supply
- 7. The Economics of Health Care
PART 3: FIRMS IN THE DOMESTIC AND INTERNATIONAL ECONOMIES
- 8. Firms, the Stock Market, and Corporate Governance
- Appendix: Present Value
- Online Appendix: Tools to Analyze Firms' Financial Information
- Comparative Advantage and the Gains from International Trade
PART 4: MICROECONOMIC FOUNDATIONS: CONSUMERS AND FIRMS
- 10. Consumer Choice and Behavioral Economics
- Appendix: Using Indifference Curves and Budget Lines to Understand Consumer Behavior
- 11. Technology, Production, and Costs
- Online Appendix: Using Isoquants and Isocost Lines to Understand Production and Cost
PART 5: MARKET STRUCTURE AND FIRM STRATEGY
- 12. Firms in Perfectly Competitive Markets
- 13. Monopolistic Competition: The Competitive Model in a More Realistic Setting
- 14. Oligopoly: Firms in Less Competitive Markets
- 15. Monopoly and Antitrust Policy
PART 6: LABOR MARKETS, PUBLIC CHOICE, AND THE DISTRIBUTION OF INCOME
- 16. The Markets for Labor and Other Factors of Production
- 17. Public Choice, Taxes, and the Distribution of Income
PART 7: MACROECONOMIC FOUNDATIONS AND LONG-RUN GROWTH
- 18. GDP: Measuring Total Production and Income
- 19. Unemployment and Inflation
- 20. Economic Growth, the Financial System, and Business Cycles
- 21. Long-Run Economic Growth: Sources and Policies
PART 8: SHORT-RUN FLUCTUATIONS
- 22. Aggregate Expenditure and Output in the Short Run
- Appendix: The Algebra of Macroeconomic Equilibrium
- 23. Aggregate Demand and Aggregate Supply Analysis
- Appendix: Macroeconomic Schools of Thought
PART 9: MONETARY AND FISCAL POLICY
- 24. Money, Banks, and the Federal Reserve System
- 25. Monetary Policy
- 26. Fiscal Policy
- Appendix: A Closer Look at the Multiplier
- 27. Inflation, Unemployment, and Federal Reserve Policy
PART 10: THE INTERNATIONAL ECONOMY
- 28. Macroeconomics in an Open Economy
- Online Appendix: The Gold Standard and the Bretton Woods System
