Principles and Applications of Economics, International Edition,
6th Edition

Part I: PRELIMINARIES.
1. What Is Economics?
2. Scarcity, Choice, and Economic Systems.
Part II: MARKETS AND PRICES.
3. Supply and Demand.
4. Working with Supply and Demand.
5. Elasticity.
Part III: MICROECONOMIC DECISION MAKERS.
6. Consumer Choice.
7. Production and Cost.
8. How Firms Make Decisions: Profit Maximization.
Part IV: PRODUCT MARKETS.
9. Perfect Competition.
10. Monopoly.
11. Monopolistic Competition and Oligopoly.
Part V: LABOR, CAPITAL, AND FINANCIAL MARKETS.
12. Labor Markets.
13. Capital and Financial Markets.
Part VI: EFFICIENCY, GOVERNMENT, AND THE GLOBAL ECONOMY.
14. Economic Efficiency and the Competitive Ideal.
15. Government's Role in Economic Efficiency.
16. Comparative Advantage and the Gains from International Trade.
Part VII: MACROECONOMICS: BASIC CONCEPTS.
17. What Macroeconomics Tries to Explain.
18. Production, Income, and Employment.
19. The Price Level and Inflation.
Part VIII: LONG-RUN MACROECONOMICS.
20. The Classical Long-Run Model.
21. Economic Growth and Rising Living Standards.
Part IX: SHORT-RUN MACROECONOMICS.
22. Economic Fluctuations.
23. The Short-Run Macro Model.
Part X: MACROECONOMIC POLICY.
24. Fiscal Policy.
25. Banking and Financial Institutions.
26. Monetary Policy.
27. Aggregate Demand and Aggregate Supply.
28. Inflation and Monetary Policy.
29. Exchange Rates and Macroeconomic Policy.

• Marc Lieberman

  Dr. Marc Lieberman is Clinical Professor of Economics at New York University. He received his Ph.D. from Princeton University. Dr. Lieberman has taught graduate and undergraduate courses in microeconomics, macroeconomics, econometrics, labor economics, and international economics. He has presented his extremely popular Principles of Economics course at Harvard, Vassar, the University of California at Santa Cruz, the University of Hawaii, and New York University. Dr. Lieberman has won NYU's Golden Dozen teaching award three times and has also received the Economics Society Award for Excellence in Teaching. He is co-editor and contributor to THE ROAD TO CAPITALISM: ECONOMIC TRANSFORMATION IN EASTERN EUROPE AND THE FORMER SOVIET UNION. Dr. Lieberman has consulted for the Bank of America and the Educational Testing Service. In his spare time, he is a professional screenwriter and teaches screenwriting at NYU's School of Continuing and Professional Studies.

• Robert E. Hall

  Dr. Robert E. Hall is a prominent applied economist. He is the Robert and Carole McNeil Joint Professor of Economics at Stanford University and Senior Fellow at Stanford's Hoover Institution, where he conducts research on inflation, unemployment, taxation, monetary policy, and the economics of high technology. Dr. Hall received his Ph.D. from MIT and has taught there as well as at the University of California, Berkeley. He was the president of the American Economic Association for the year 2010. He is also director of the research program on Economic Fluctuations of the National Bureau of Economic Research, and chairman of the Bureau's Committee on Business Cycle Dating, which maintains the chronology of the U.S. business cycle. He has published numerous monographs and articles in scholarly journals, and co-authored a popular intermediate text. Dr. Hall has advised the Treasury Department and the Federal Reserve Board on national economic policy and has testified on numerous occasions before congressional committees.

• NEW "USING THE THEORY" FEATURES THROUGHOUT THE EDITION REFLECT FRESH, PRACTICAL APPLICATIONS. Many of the chapters offer updated "Using the Theory" mini-cases to further emphasize the immediate value and practical application of concepts students are learning.

• UPDATED ECONOMIC FACTS AND DATA REFLECT TODAY'S LATEST EMERGING BUSINESS INFORMATION. This edition incorporates the most recent, pertinent economic and financial data from today's headlines into an updated contemporary presentation to ensure your students are prepared to deal with tomorrow's challenges.

• FRESH, UPDATED EXAMPLES HIGHLIGHT TODAY'S MOST CONTEMPORARY SITUATIONS AND CHALLENGES. This edition's memorable, practical examples bring today's latest business and economic situations to life while emphasizing key concepts from the text.

• STREAMLINED MICROECONOMIC CHAPTERS FOCUS ON CONCEPTS MOST IMPORTANT FOR SUCCESS. Purposeful, concise, yet thorough content throughout the microeconomic chapters is streamlined in this edition to emphasize the microeconomic concepts and applications most critical in business today.

• NEW DIAGRAMS CLARIFY CONCEPTS AND AID STUDENT UNDERSTANDING. This edition provides new clear diagrams to visually reinforce the concepts presented in the text and ensure student comprehension.

• OPTIONAL CONTENT IS NOW AVAILABLE IN APPENDIXES. The authors have relocated both microeconomics and macroeconomics material to easily accessible appendixes to give you the flexibility to incorporate or omit this information from your course, depending on your students' needs.

• UPDATED TREATMENT OF MONEY, THE BANKING SYSTEM, AND MONETARY POLICY REFLECTS TODAY'S LATEST THINKING. This edition's presentation of money, banking, and monetary policies throughout the macroeconomic chapters incorporates the most recent emerging trends and thoughts from central banks and leading economists.

• NEW "USING THE THEORY" FEATURES THROUGHOUT THE EDITION REFLECT FRESH, PRACTICAL APPLICATIONS. Many of the chapters offer updated "Using the Theory" mini-cases to further emphasize the immediate value and practical application of concepts you are learning.

• UPDATED ECONOMIC FACTS AND DATA REFLECT TODAY'S LATEST EMERGING BUSINESS INFORMATION. This edition incorporates the most recent, pertinent economic and financial data from today's headlines into an updated contemporary presentation to ensure you are well equipped to deal with tomorrow's economic challenges.

• FRESH, UPDATED EXAMPLES HIGHLIGHT TODAY'S MOST CONTEMPORARY SITUATIONS AND CHALLENGES. This edition's memorable, practical examples bring today's latest business and economic situations to life while emphasizing key concepts from the text.

• STREAMLINED MICROECONOMIC CHAPTERS FOCUS ON CONCEPTS MOST IMPORTANT FOR SUCCESS. Concise, yet thorough content throughout this edition's microeconomic chapters is streamlined to emphasize the concepts and applications most critical for your success in economics and business today.

• NEW DIAGRAMS CLARIFY CONCEPTS AND FURTHER YOUR UNDERSTANDING. This edition provides new clear diagrams to visually reinforce the concepts presented in the text and ensure thorough comprehension.

• PROVEN AUTHORS OFFER AUTHORITATIVE, PRACTICAL PERSPECTIVES ON EMERGING ISSUES. A cutting-edge researcher, author Robert Hall is well recognized as one of the nation's most respected economists. Author Marc Lieberman combines his talents as a prominent leading economist and award-winning teacher to provide a practical perspective as well as business insights to the book.

• EMPHASIS ON CORE ECONOMIC THEORY ENSURES SOLID FOUNDATION. Lieberman/Hall's signature, accessible, no-nonsense approach ensures all students gain a solid understanding of core economic theories and applications. You can use this comprehensive base of knowledge as a launching pad for interesting extensions of key topics.

• CLEAR MICROECONOMICS APPROACH CLARIFIES CONCEPTS FOR STUDENTS. This edition's sensible approach to microeconomics includes a separate chapter covering the MC=MR rule of profit maximization before addressing each individual market structure. In addition, the chapter on efficiency appears after market structures to separate description and assessment issues, and provide a more unified, understandable approach.

• MODERN MACROECONOMICS APPROACH PROVIDES THOROUGH UNDERSTANDING OF CONTEMPORARY ISSUES. As part of this edition's easy-to-understand approach, long-run and short-run perspectives are continually compared while clearly presenting strengths and limitations. This edition's chapter on economic fluctuations thoroughly explains why different perspectives exist and helps resolve a variety of controversies and contradictions.

• HOMEWORK AND COURSE MANAGEMENT TECHNOLOGY AS WELL AS CASES ENSURE AN INTERACTIVE, DYNAMIC LEARNING ENVIRONMENT. Cutting-edge homework and course management technology, such as Aplia™, CengageNOW, and CourseMate online resources, offer you flexibility and significant time savings. New and revised end-of-chapter "Using the Theory" mini-cases give you relevant real-world applications to further encourage lively class discussions or meaningful homework.

• STUDENT FRIENDLY APPROACH ENSURES YOUR THOROUGH UNDERSTANDING. Though the book's approach is relatively rigorous to ensure that you gain a solid foundation in core economics, it's also extremely student friendly and accessible.

• INTEGRATIVE FRAMEWORK REFLECTS REAL ECONOMICS IN ACTION. Each chapter is clearly organized around a simple, three-step methodological process that emphasizes how economists think about problems. The authors use three proven key steps to understanding the economy, which include characterizing the market, finding the equilibrium, and determining what happens when things change.

• SOLID FOUNDATION IN ECONOMICS EQUIPS YOU FOR FUTURE SUCCESS. With a meaningful emphasis on current real-world business and policy applications, this book provides the bedrock foundation in economic and business principles to help you succeed in upper-level courses as well as in your future career.

Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.

ExamView®, Intl. Edition for Lieberman/Hall's Principles and Applications of Economics, International Edition, 6th
9781133592716

Instructor’s Resource CD-ROM, Intl. Edition for Hall’s Economics, International Edition, 6th
9781133486107

Instructor's Manual, Intl. Edition for Hall/Lieberman's Economics: Principles and Applications, 6th
9781133609124

PowerPoint®, Intl. Edition for Lieberman/Hall's Principles and Applications of Economics, International Edition, 6th
9781133593553

Tomlinson Video Instant Access Code, Intl. Edition for Lieberman/Hall's Principles and Applications of Economics, International Edition
9781133854135

Tomlinson Video Printed Access Card, Intl. Edition for Lieberman/Hall’s Principles and Applications of Economics, International Edition, 6th
9781133854128

Tomlinson Video, Intl. Edition for Lieberman/Hall's Principles and Applications of Economics, International Edition
9781133854111