Economics 16th Edition

Author: Nordhaus
Publisher:
Publication Date: 1999-08-01
Features: The economics of the mid-20th century was in a completely different situation than today. By the end of the century, both the economic world and economics itself had undergone tremendous development. This textbook has become a model for introductory economics teaching. Each new edition extracts the essence of ideas from leading economists on how markets operate and how society improves people's living standards. However, since the book's first edition was published in 1948, economics has undergone profound changes. Economics is first and foremost a living, ever-evolving organism. The need to keep The Economics at the forefront of the rapidly changing world of economics has given the authors a strong motivation to introduce new insights from modern economists and explain how this subject impacts an increasingly prosperous world. The task of this book is clear: to provide a clear, accurate, and engaging introduction to modern economic principles and the institutional systems of the U.S. and the global economy. Economics is a dynamic science—reflecting the changes in economic affairs, environmental issues, the global economy, and the entire society. As economics and the world it exists in evolve, this book also evolves. The following ten features distinguish this edition from previous versions: (core theories of economics, the triumph of markets, emphasis on history and policy, simplicity and clarity)
The Economics by Paul A. Samuelson, the first American to win the Nobel Prize in Economics, the father of modern economics, is a must-read classic for learning economics. Since its first publication over 50 years ago, it has sold tens of millions of copies worldwide and has been translated into dozens of languages, influencing generations with its ideas. This is both an introductory textbook for economics beginners and a reference manual for economics students seeking to refresh their knowledge. It can be used as a teaching material or for self-study. Economics is a tool that economists provide to the public to improve lives and understand the world. Perhaps you don’t want to become an economist, but even so, you should still learn some economics. First, learning economics helps you make better personal decisions. Second, learning economics helps you understand how the world you live in works. Third, learning economics helps you understand the strengths and weaknesses of government policies. Finally, learning economics can improve your way of thinking. The authors of this book are Paul A. Samuelson and William D. Nordhaus. The former is the first American to win the Nobel Prize in Economics, a synthesizer of 20th-century mainstream economics, the father of modern economics, and known as the "Einstein of economics" for proposing a unified theory of economic activity. The latter is a professor of economics at Yale University, a renowned American economist, a member of President Carter's Economic Advisory Council, and a contributor to prestigious journals such as The New York Times.