Economics: Principles and Applications (Second Edition)

Author: Robert E. Hall
Publisher:
Publish Date: 2003-08-01
Features: The author is a senior researcher at a research center and the head of the Economic Fluctuations Research Program at the National Bureau of Economic Research (NBER). He has served as a national economic policy advisor to the U.S. Department of the Treasury and the Federal Reserve Board and has delivered speeches to Congress on multiple occasions. As a result, the book provides a relatively detailed account and analysis of major economic issues and policies in the United States over the past few decades. The book not only creatively summarizes the four-step method but also serves as a model for applying it to analyze problems. By following the author's thought process, students can naturally master the four-step method, thereby grasping the way economists think and achieving a comprehensive understanding of the analysis of product markets, labor markets, and financial markets. The book explains economic principles in plain language and in a logically coherent manner, thereby greatly reducing the distance students feel from learning economics. This allows students to grasp economic principles more easily and effectively and apply them to the analysis of economic issues.