Principles of Economics

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Cengage Learning, Feb 11, 2006 - Business & Economics - 500 pages
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In Economics, noted economist and teacher John Taylor unravels sophisticated material by combining clear, straightforward writing with annotated graphs and real-life examples that drive students' interest in modern economic theory. The first to cover long-run fundamentals before short-term economic fluctuations, Taylor's modern approach helps students understand the basic determinants of growth (labor, capital, and technology) before introducing fluctuations (inflation, output, and employment) that can occur even during periods of steady growth. His intuitive explanations of microeconomic principles and keen observations of the economy and daily life have been enthusiastically received by instructors across the country.Taylor's experience in international policymaking has always informed the narrative; his most recent service as Undersecretary of the Treasury for International Affairs brings even more real-world relevance to the Fifth Edition. New Point-Counterpoint essays prompt students to consider opposing viewpoints on issues in economic policy, while updated examples and data reflect current trends in the world economy. The author's trademark Conversation Boxes throughout the margins and graphs offer students a step-by-step illustration of the economic models and theories under review.
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About the author (2006)

John B. Taylor, a highly regarded and widely honored figure, has earned numerous awards for both teaching and leadership in International Finance. Dr. Taylor is currently the Raymond Professor of Economics at Stanford University, where he has received the Hoagland Prize for excellence in undergraduate teaching and Rhodes Prize for teaching introductory economics. Dr. Taylor was founding Director of the innovative Stanford Introductory Economics Center and has served as Director of the Stanford Institute for Economic Policy Research. Since 1976, Dr. Taylor has worked in numerous government economic advisory roles. From 2001 to 2005, Dr. Taylor served as Undersecretary of Treasury for International Affairs, where he developed and implemented U.S. international financial policy, including currencies; trade in financial services; foreign investment, international debt; and reform of the International Monetary Fund, the World Bank, and other international financial institutions. Dr. Taylor was awarded the Medal of the Republic of Uruguay for his work in resolving the 2002 financial crisis. He was awarded the Treasury Distinguished Service Award for designing and implementing the financial reconstruction plan in Iraq and was awarded the Alexander Hamilton Award for his leadership in international finance. His accomplishments include helping to assemble an international coalition to freeze terrorist assets, expediting Afghanistan's economic reconstruction, creating a new currency and central bank in Iraq, forging an international agreement to reduce Iraq's debt by 80 percent, and creating a new economic engagement with Broader Middle East and North African countries. Taylor received his B.A. in Economics summa cum laude from Princeton University and Ph.D. in Economics from Stanford University.

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