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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