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Economics https://www.mheducation.com/cover-images/Jpeg_400-high/1260225313.jpeg 3 2021 9781260225310 Improve YOUR world. Dean Karlan and Jonathan Morduch’s Economics 3e is built around the central concept that economics is a powerful and positive tool that students can use right now to improve their world. Economics uses examples and issues that resonate with students’ experience to draw them in and frame ideas to help develop their economic intuition. - Using a balanced approach, students are able to sharpen their own understanding of topics by focusing on the data and evidence behind the effects they see. Students are equipped to understand and respond to real-life situations thought their new economic lens and challenged to decided how they will improve their world. -The third edition delivers core economic concepts along with exciting new ideas in economic though and strives to keep students engaged by confronting issues that are important in the world -This text combines a familiar curriculum with material from new research and applied areas such as finance, behavioral economics, and the political economy. Students and faculty will find content that breaks down barriers between what takes place in the classroom and what happens in our nation and our world, with applications that are driven by empirical evidence, data, and research. - Karlan and Morduch show students that economics is a tool to improve one'sown life and promote better public and business policies in the world. At the same time, this third edition challenges students to reach their own conclusions about how they will improve their world.
09781260225310
Economics
Economics

Economics, 3rd Edition

ISBN10: 1260225313 | ISBN13: 9781260225310
By Dean Karlan and Jonathan Morduch
© 2021

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Improve YOUR world. Dean Karlan and Jonathan Morduch’s Economics 3e is built around the central concept that economics is a powerful and positive tool that students can use right now to improve their world. Economics uses examples and issues that resonate with students’ experience to draw them in and frame ideas to help develop their economic intuition. - Using a balanced approach, students are able to sharpen their own understanding of topics by focusing on the data and evidence behind the effects they see. Students are equipped to understand and respond to real-life situations thought their new economic lens and challenged to decided how they will improve their world. -The third edition delivers core economic concepts along with exciting new ideas in economic though and strives to keep students engaged by confronting issues that are important in the world -This text combines a familiar curriculum with material from new research and applied areas such as finance, behavioral economics, and the political economy. Students and faculty will find content that breaks down barriers between what takes place in the classroom and what happens in our nation and our world, with applications that are driven by empirical evidence, data, and research. - Karlan and Morduch show students that economics is a tool to improve one'sown life and promote better public and business policies in the world. At the same time, this third edition challenges students to reach their own conclusions about how they will improve their world.

Part 1 The Power of Economics
1 Economics and Life
2 Specialization and Exchange


Part 2 Supply and Demand
3 Markets
4 Elasticity
5 Efficiency
6 Government Intervention


Part 3 Individual Decisions
7 Consumer Behavior
8 Behavioral Economics: A Closer Look at Decision Making
9 Game Theory and Strategic Thinking
10 Information
11 Time and Uncertainty


Part 4 Firm Decisions
12 The Costs of Production
13 Perfect Competition
14 Monopoly
15 Monopolist Competition and Oligopoly
16 The Factors of Production
17 International Trade


Part 5 Public Economics
18 Externalities
19 Public Goods and Common Resources
20 Taxation and the Public Budget
21 Poverty, Inequality, and Discrimination
22 Political Choices
23 Public Policy and Choice Architecture


Part 6 The Data of Macroeconomics
24 Measuring GDP
25 The Cost of Living


Part 7 Labor Markets and Economic Growth
26 Unemployment and the Labor Market
27 Economic Growth


Part 8 The Economy in the Short and Long Run
28 Aggregate Expenditure
29 Aggregate Demand and Aggregate Supply
30 Fiscal Policy


Part 9 The Financial System and Institutions
31 The Basics of Finance
32 Money and the Monetary System
33 Inflation 
34 Financial Crisis


Part 10 International Policy Issues
35 Open-Market Macroeconomics
36 Development Economics 


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About the Author

Dean Karlan

Dean Karlan is Professor of Economics and Finance at Northwestern University and President and Founder of Innovations for Poverty Action (IPA). Dean started IPA in 2002 with two aims: to help learn what works and what does not in the fight against poverty and other social problems around the world, and then to implement successful ideas at scale. IPA has worked in over 50 countries, with 1,000 employees around the world. Dean’s personal research focuses on using field experiments to learn more about the effectiveness of financial services for low-income households, with a focus on using behavioral economics approaches to improve financial products and services. His research includes related areas, such as building income for those in extreme poverty, charitable fund-raising, voting, health, and education. Dean is also co founder of stickK.com, a start-up that helps people use commitment contracts to achieve personal goals, such as losing weight or completing a problem set on time, and in 2015 he founded Impact Matters, an organization that helps assess whether charitable organizations are using and producing appropriate evidence of impact. Dean is a Sloan Foundation Research Fellow, a Guggenheim Fellow, and an Executive Committee member of the Board of the M.I.T. Jameel Poverty Action Lab. In 2007 he was awarded a Presidential Early Career Award for Scientists and Engineers. He is co editor of the Journal of Development Economics and on the editorial board of American Economic Journal: Applied Economics. He holds a BA from University of Virginia, an MPP and MBA from University of Chicago, and a PhD in Economics from MIT. In 2016 he coauthored Failing in the Field, and in 2011 he coauthored More Than Good Intentions:Improving the Ways the World’s Poor Borrow, Save, Farm, Learn, and Stay Healthy.

Jonathan Morduch

Jonathan Morduch is Professor of Public Policy and Economics at New York University’s Wagner Graduate School of Public Service. Jonathan focuses on innovations that expand the frontiers of finance and how financial markets shape economic growth and inequality. Jonathan has lived and worked in Asia, but his newest book, The Financial Diaries: How American Families Cope in a World of Uncertainty (written with Rachel Schneider and published by Princeton University Press, 2017), follows families in California, Mississippi, Ohio, Kentucky, and New York as they cope with economic ups and downs over a year. The new work jumps off from ideas in Portfolios of the Poor: How the World’s Poor Live on $2 a Day (Princeton University Press, 2009), which Jonathan coauthored and which describes how families in Bangladesh, India, and South Africa devise ways to make it through a year living on $2 a day or less. Jonathan’s research on financial markets is collected in The Economics of Micro-finance and Banking the World, both published by MIT Press. At NYU, Jonathan is executive director of the Financial Access Initiative, a center that supports research on extending access to finance in low-income communities. Jonathan’s ideas have also shaped policy through work with the United Nations, World Bank, and other international organizations. In 2009, the Free University of Brussels awarded Jonathan an honorary doctorate to recognize his work on micro-finance. He holds a BA from Brown and a PhD from Harvard, both in Economics.

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