Economics

Economics has been thoroughly revised, simplified, and updated for the Fourth Edition.

Co-written by Joseph Stiglitz, winner of the Nobel Prize for his research on imperfect markets, and Carl E. Walsh, one of the leading monetary economists in the field, Economics is the most modern and accurate text available.

The science of economics has made great strides in the past 25 years. We now understand such problems as the role of information in the efficiency of economic outcomes, the importance of strategy in the outcome of economic relationships, the significance of finance in our understanding of the firm, and, most importantly, the ways in which microeconomic phenomena relate to those of macroeconomics. With this fresh and original textbook, an economics professor at Stanford University brings new economics to an introductory course. Color photographs and diagrams.

Economics has been thoroughly revised, simplified, and updated for the Fourth Edition.

Booknews

This text provides a treatment of the basic competitive model, presenting macroeconomics in a manner that builds on the way economic researchers and economists in policymaking positions frame their analysis. The text can be used for a one-semester course covering principles of micro- and macroeconomics, or for a one-quarter course devoted solely to micro- or macroeconomics. This third edition integrates recent developments associated with innovation and the digital economy. There are new optional chapters on areas such as the labor and capital markets and investing. Stiglitz teaches economics, business, and international and public affairs at Columbia University. Walsh teaches economics at the University of California-Santa Cruz. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Winner of the 2001 Nobel Memorial Prize for Economics, Joseph E. Stiglitz is the author of Making Globalization Work; Globalization and Its Discontents; and, with Linda Bilmes, The Three Trillion Dollar War. He was chairman of President Clinton's Council of Economic Advisers and served as senior vice president and chief economist at the World Bank. He teaches at Columbia University and lives in New York City.

Carl E. Walsh is professor of economics at the University of California, Santa Cruz. He is widely known for his research in monetary economics and is the author of a leading graduate text, Monetary Theory and Policy (MIT Press). Before joining the Santa Cruz faculty, Professor Walsh was senior economist at the Federal Reserve Bank of San Francisco, where he continues to be a visiting scholar.