Economics: Principles and Applications, 6th Edition

  • Robert E. Hall Stanford University
  • Marc Lieberman New York University
  • ISBN-10: 1111822344
  • ISBN-13: 9781111822347
  • 972 Pages Hardcover 
  • Previous Editions: 2010, 2008, 2005
  • © 2013 | Published
  • College Bookstore Wholesale Price = $249.50 
» Request an Online Copy for Review  Why an online review copy?
  • It's the greener, leaner way to review! An online copy cuts down on paper and on time. Reduce the wait (and the weight) of printed texts. Your online copy arrives instantly, and you can review it anytime from your computer or favorite mobile device.

If you prefer a print copy to review, please contact your representative.

 

About The Solution

Overview

Show your students how real-world policy issues, decisions, and applications impact them every day with the practical, accessible presentation in ECONOMICS. Written by acclaimed economists Hall and Lieberman, this straightforward, contemporary text remains as current as the latest headlines. Fresh new cutting-edge examples throughout this edition as well as updated mini-cases clearly illustrate core economic theory and applications in action. This edition's streamlined chapters focus on today's most important economic theories and events as well as how they relate to practical situations. This easy-to-understand comprehensive text equips students with a solid economic foundation they can build on for success no matter what their careers. New diagrams, interactive online exercises, graphing applications, and Internet research resources give students hands-on experience in understanding current economic challenges. The book demonstrates how economics is an integrated, powerful body of knowledge able to address complex domestic and global issues. This edition presents the latest in economic thinking, and is supported by dynamic online resources such as Aplia's leading online homework manager, CourseMate online tools, and CengageNOW™ course management system.


Additional Product Information

Features/Benefits

  • 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. Hall/Lieberman'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.

What's New

  • 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.

Best Buy Packages

Other Popular Packages

Choose the textbook packaged with the resources that best meet your course and student needs. Contact your Cengage Learning representative for more information.


Bundle: Text + Aplia 2-Semester Printed Access Card
ISBN-10: 1285047508  | ISBN-13: 9781285047508
List Price = $363.95  | College Bookstore Wholesale Price = $269.50

This Bundle Includes:

  • Economics: Principles and Applications
    List Price = $336.95  | CengageBrain Price = $269.49  | College Bookstore Wholesale Price = $249.50
  • Aplia 2-Semester Printed Access Card
    List Price = $145.95  | College Bookstore Wholesale Price = $108.50


Bundle: Text Aplia with Cengage Learning Write Experience 2.0 Powered by MyAccess Printed Access Card
ISBN-10:  1285047524  | ISBN-13:  9781285047522
List Price = $356.95  | CengageBrain Price = $285.49  | College Bookstore Wholesale Price = $264.50

This Bundle Includes:

  • Economics: Principles and Applications
    List Price = $336.95  | CengageBrain Price = $269.49  | College Bookstore Wholesale Price = $249.50
  • Aplia with Cengage Learning Write Experience 2.0 Powered by MyAccess Printed Access Card
    List Price = $144.95  | College Bookstore Wholesale Price = $107.75


Bundle: Text + Aplia 1-Semester Printed Access Card
ISBN-10:  1285047567  | ISBN-13:  9781285047560
List Price = $349.95  | College Bookstore Wholesale Price = $259.50

This Bundle Includes:

  • Economics: Principles and Applications
    List Price = $336.95  | CengageBrain Price = $269.49  | College Bookstore Wholesale Price = $249.50
  • Aplia 1-Semester Printed Access Card
    List Price = $131.95  | College Bookstore Wholesale Price = $97.75


Printed Text + Aplia with Cengage Learning Write Experience 2.0 Powered by MyAccess Instant Access
ISBN-10:  1285047516  | ISBN-13:  9781285047515
List Price = $356.95  | College Bookstore Wholesale Price = $264.50

This Bundle Includes:

  • Economics: Principles and Applications
    List Price = $336.95  | CengageBrain Price = $269.49  | College Bookstore Wholesale Price = $249.50
  • Aplia with Cengage Learning Write Experience 2.0 Powered by MyAccess Instant Access
    List Price = $125.00  | College Bookstore Wholesale Price = $125.00


Printed Text + Aplia 2-Semester Instant Access
ISBN-10:  1285047494  | ISBN-13:  9781285047492
List Price = $363.95  | CengageBrain Price = $290.99  | College Bookstore Wholesale Price = $269.50

This Bundle Includes:

  • Economics: Principles and Applications
    List Price = $336.95  | CengageBrain Price = $269.49  | College Bookstore Wholesale Price = $249.50
  • Aplia 2-Semester Instant Access
    List Price = $128.00  | CengageBrain Price = $128.00  | College Bookstore Wholesale Price = $128.00


Printed Text + Aplia 1-Semester Instant Access
ISBN-10:  1285047486 | ISBN-13:  9781285047485
List Price = $349.95  | CengageBrain Price = $279.49  | College Bookstore Wholesale Price = $259.50

This Bundle Includes:

  • Aplia 1-Semester Instant Access
    List Price = $115.00  | CengageBrain Price = $115.00  | College Bookstore Wholesale Price = $115.00
  • Economics: Principles and Applications
    List Price = $336.95  | CengageBrain Price = $269.49  | College Bookstore Wholesale Price = $249.50


Table of Contents

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.

Supplements

Instructor Supplements

Instructor Supplements

All supplements have been updated in coordination with the main title. Select the main title’s "About the Solution" tab, then select "What's New" for updates specific to title's edition. For more information about these supplements, or to obtain them, contact your Learning Consultant.

Instructor's Manual  (ISBN-10: 1133562515 | ISBN-13: 9781133562511)

The manual provides chapter outlines, teaching ideas, experiential exercises for many chapters, answers to online review questions,and solutions to all end-of-chapter problems. This manual is also intended for use with the Economics and Macroeconomics versions of Hall/Lieberman 6e.


Instructor's Resource CD-ROM  (ISBN-10: 1133626564 | ISBN-13: 9781133626565)

Find all the resources you need at your fingertips. This easy-to-use CD offers instant access to instructor resources, while allowing you to review, edit, and copy the specific material you need. You'll find the Instructor's Manual with outlines, exercises, answers to questions and problems, as well as the Test Bank in Word® with more than 5,000 multiple-choice questions, designated by topical headings and subheadings and labeled with AACSB skill-based classifications. ExamView® computerized testing contains the full Test Bank while PowerPoint® lecture and exhibits slides clarify concepts.


CourseMate with Global Economic Crisis Resource Center, Global Economic Crisis - Community Server, Global Economic Crisis - Global Issues in Context Instant Access  (ISBN-10: 1133575978 | ISBN-13: 9781133575979)

CourseMate brings concepts to life with interactive learning, study, and exam preparation tools as well as an interactive eBook in this text-specific website. Students can access ABC News videos, economic news articles, economic debates, interactive quizzes, and flashcards as well as graphing tutorials and Internet research activities. The Global Economic Watch stimulates discussion and understanding of the global downturn. Chapter questions and solutions are ideal for individual assignments or group projects. Engagement Tracker helps monitor student engagement in your course.

List Price = $219.00  | CengageBrain Price = $219.00  | College Bookstore Wholesale Price = $219.00


DVD: BBC Economics News Videos  (ISBN-10: 0538480114 | ISBN-13: 9780538480116)

BBC News Video Segments deliver the "real world" right to students' desktops, giving students a context for how economic topics affect world and national events as well as their own daily lives, and helping them learn material by applying it to current events.


CourseMate with Global Economic Crisis Resource Center, Global Economic Crisis - Community Server, Global Economic Crisis - Global Issues in Context Instant Access  (ISBN-10: 1133716083 | ISBN-13: 9781133716082)

CourseMate brings concepts to life with interactive learning, study, and exam preparation tools as well as an interactive eBook in this text-specific website. Students can access ABC News videos, economic news articles, economic debates, interactive quizzes, and flashcards as well as graphing tutorials and Internet research activities. The Global Economic Watch stimulates discussion and understanding of the global downturn. Chapter questions and solutions are ideal for individual assignments or group projects. Engagement Tracker helps monitor student engagement in your course.

List Price = $139.00  | CengageBrain Price = $139.00  | College Bookstore Wholesale Price = $139.00


Student Supplements

Student Supplements

All supplements have been updated in coordination with the main title. Select the main title’s "About the Solution" tab, then select "What's New" for updates specific to title's edition. For more information about these supplements, or to obtain them, contact your Learning Consultant.

CourseMate with Global Economic Crisis Resource Center, Global Economic Crisis - Community Server, Global Economic Crisis - Global Issues in Context Instant Access  (ISBN-10: 1133575978 | ISBN-13: 9781133575979)

CourseMate is your one-stop shop for learning tools and activities that help you succeed. All the study and application resources in CourseMate are organized by chapter to help you get the most from your text. Interactive quizzes and flashcards aid practice while the Graphing Workshop tool helps you better understand how graphs are used. Economics CourseMate includes an interactive eBook that lets you take notes, highlight, search, and interact with embedded media specific to this book.

List Price = $219.00  | CengageBrain Price = $219.00  | College Bookstore Wholesale Price = $219.00


Aplia 1-Semester Instant Access  (ISBN-10: 1133576036 | ISBN-13: 9781133576037)

Succeed in your course with 1 semester of access to Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for ECONOMICS: PRINCIPLES AND APPLICATIONS, 6th Edition, including step-by-step explanations that help you improve your reasoning and skills, interactive assignments that help you understand difficult or counterintuitive concepts, and more. Aplia has already helped more than a million students succeed in college classes.

List Price = $115.00  | CengageBrain Price = $115.00  | College Bookstore Wholesale Price = $115.00


Aplia 2-Semester Instant Access  (ISBN-10: 1133935729 | ISBN-13: 9781133935728)

Succeed in your course with 2 semesters of access to Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for ECONOMICS: PRINCIPLES AND APPLICATIONS, 6th Edition, including step-by-step explanations that help you improve your reasoning and skills, interactive assignments that help you understand difficult or counterintuitive concepts, and more. Aplia has already helped more than a million students succeed in college classes.

List Price = $128.00  | CengageBrain Price = $128.00  | College Bookstore Wholesale Price = $128.00


Aplia with Cengage Learning Write Experience 2.0 Powered by MyAccess Instant Access  (ISBN-10: 1133367011 | ISBN-13: 9781133367017)

List Price = $125.00  | College Bookstore Wholesale Price = $125.00


Cengage Learning Write Experience 2.0 Powered by MyAccess with eBook Instant Access Code  (ISBN-10: 113336697X | ISBN-13: 9781133366973)

List Price = $115.00  | College Bookstore Wholesale Price = $115.00


MindLink for Aplia 1-Semester Instant Access  (ISBN-10: 1285323378 | ISBN-13: 9781285323374)

Succeed in your economics course with one full semester of access to Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for ECONOMICS: PRINCIPLES AND APPLICATIONS, 6th Edition. Aplia has already helped more than a million students succeed in college classes.

List Price = $115.00  | CengageBrain Price = $115.00  | College Bookstore Wholesale Price = $115.00


MindTap Economics Instant Access  (ISBN-10: 1285382226 | ISBN-13: 9781285382227)

MindTap was created to harness the power of technology to drive student success. This cloud-based platform integrates a number of learning applications (“apps”) into an easy-to-use and easy to access tool that supports a personalized learning experience. MindTap combines student learning tools-readings, multimedia, activities and assessments-into a singular Learning Path that guides you through your economics course.

List Price = $115.00  | CengageBrain Price = $115.00  | College Bookstore Wholesale Price = $115.00


General MindLink for MindTap Economics Instant Access  (ISBN-10: 1285408101 | ISBN-13: 9781285408101)

List Price = $115.00  | CengageBrain Price = $115.00  | College Bookstore Wholesale Price = $115.00


MindLink for Aplia 2-Semester Instant Access  (ISBN-10: 1285323823 | ISBN-13: 9781285323824)

Succeed in your economics course with two full semesters of access to Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for ECONOMICS: PRINCIPLES AND APPLICATIONS, 6th Edition. Aplia has already helped more than a million students succeed in college classes.

List Price = $128.00  | CengageBrain Price = $128.00  | College Bookstore Wholesale Price = $128.00


MindLink for Aplia 1-Semester with Cengage Learning Write Experience 2.0 Powered by MyAccess Instant Access  (ISBN-10: 1285324137 | ISBN-13: 9781285324135)

Succeed in your economics course with one full semester of access to Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for ECONOMICS: PRINCIPLES AND APPLICATIONS, 6th Edition. Aplia has already helped more than a million students succeed in college classes.

List Price = $125.00  | CengageBrain Price = $125.00  | College Bookstore Wholesale Price = $125.00


MindLink for Aplia 2-Semester with Tomlinson Learning Path Video Instant Access  (ISBN-10: 1285365763 | ISBN-13: 9781285365763)

List Price = $139.00  | College Bookstore Wholesale Price = $139.00


Flash Cards Instant Access  (ISBN-10: 1285796098 | ISBN-13: 9781285796093)

Flashcards designed to work with your text can help you to review and learn essential terms and key concepts. Interactive flashcards include terms and definitions for each chapter. This is instant access product; at the completion of your purchase, simply go to "My Home" and gain immediate access to your product. Note: If you have purchased CourseMate for your title, flash cards are already included.

List Price = $3.99  | College Bookstore Wholesale Price = $3.99


Quizzing Instant Access  (ISBN-10: 1285792297 | ISBN-13: 9781285792293)

Interactive practice quizzes designed to work with your text can help you to review and learn essential terms and key concepts. True/false and multiple choice questions are included for each chapter. Check your score and take quizzes again if needed. A reference for where to find more material in the text is included with each answer. This is instant access product; at the completion of your purchase, simply go to "My Home" and gain immediate access to your product. Note: If you have purchased CourseMate for your title, flash cards are already included.

List Price = $4.99  | College Bookstore Wholesale Price = $4.99


Quizzing with Flash Cards Instant Access  (ISBN-10: 1285788494 | ISBN-13: 9781285788494)

Interactive practice quizzes and flashcards designed to work with your text can help you to review and learn essential terms and key concepts. Flashcards contain terms and definitions for each chapter. Practice quizzes consist of true/false and multiple choice questions for each chapter. Check your score and take quizzes again if needed. A reference for where to find more material in the text is included with each answer. This is instant access product; at the completion of your purchase, simply go to "My Home" and gain immediate access to your product. Note: If you have purchased CourseMate for your title, practice quizzes and flashcards are already included.

List Price = $5.99  | CengageBrain Price = $5.99  | College Bookstore Wholesale Price = $5.99


CourseMate with Global Economic Crisis Resource Center, Global Economic Crisis - Community Server, Global Economic Crisis - Global Issues in Context Instant Access  (ISBN-10: 1133716083 | ISBN-13: 9781133716082)

CourseMate is your one-stop shop for learning tools and activities that help you succeed. All the study and application resources in CourseMate are organized by chapter to help you get the most from your text. Interactive quizzes and flashcards aid practice while the Graphing Workshop tool helps you better understand how graphs are used. Economics CourseMate includes an interactive eBook that lets you take notes, highlight, search, and interact with embedded media specific to this book.

List Price = $139.00  | CengageBrain Price = $139.00  | College Bookstore Wholesale Price = $139.00


Meet the Author

About the Author

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.

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.

Custom

Custom learning materials let you create a digital or print course solution in the style and format best for you and your learners. Maximize engagement and achieve desired outcomes with the aid of our academic and digital experts, who have years of experience helping instructors customize material to specific course needs.
Create your custom solution »