For Principles of Microeconomics courses. For a complete multimedia book tour of Economics: Principles, Applications, & Tools, 8e Click Here. For a look at the Supply & Demand Chapter of this title, Click Here. Questions that drive interest, applications that illustrate concepts, and the tools to test and solidify comprehension. Students come into their first Economics course thinking they will gain a better understanding of the economy around them. Unfortunately, they often leave with many unanswered questions. To ensure students actively internalize economics, O'Sullivan/Sheffrin/Perez use chapter-opening questions to spark interest on important economic concepts, applications that vividly illustrate those concepts, and chapter-ending tools that test and solidify understanding.

For courses in the Principles of Economics Introduces Students to the Basic Concepts of Economics with Timely, Engaging Stories and Applications Students enter their first economics course hoping to gain a better understanding of the world around them, but often leave with their questions unanswered. Economics: Principles, Applications, and Tools is built upon the author's philosophy of using basic concepts of economics to explain a wide variety of timely, engaging, real-world economic applications. The 9th Edition incorporates updated figures and data, while also emphasising current topics of interest-including the severe economic downturn of recent years and the latest developments in economic thinking. It also includes newly refined Learning Objectives that introduce the concepts explored in each chapter, along with new applications and chapter-opening stories related to the most up-to-date developments in both macroeconomics and microeconomics.

The text is designed as the main text for an undergraduate course in Behavioral Economics, which is a growing course for students of economics at the undergraduate level. The presentation is grounded in microeconomics and traditional economic models to discuss observed human behavior. The book presents models that show the trade-offs between material benefits and social concerns. The models incorporate social concerns such as altruism, guilt, exploitation, fairness, and cognitive dissonance. Unlike many other books on behavioral economics, the text is not a catalog of human quirks. Although the book highlights all sorts of observed behavior that appears irrational and misguided, it doesn't stop there. It examines the possible motives for the puzzling behavior. For many misguided and regrettable choices, we highlight actions taken to control the behavior and mitigate the damage. We use the insights of anthropologists and economists to explore the role of natural selection in shaping human thinking and behavior. A decision that appears irrational today may be understandable in the context of millions of years of natural selection. Recent work explores the role of natural selection in (i) loss aversion, (ii) the endowment effect, (iii) time preferences, and (iv) responses to the free-rider problem.

For courses in the Principles of Economics. Introduces Readers to the Basic Concepts of Economics with Timely, Engaging Stories and Applications Readers hoping to gain a better understanding of economics and the world around them often leave with their questions unanswered. Survey of Economics: Principles, Applications, and Tools is built upon the author's philosophy of using the basic concepts of economics to explain a wide variety of timely, engaging, real-world economic applications. The Seventh Edition incorporates updated figures and data, while also emphasizing current topics of interest-including the severe economic downturn of recent years and the latest developments in economic thinking. It also includes newly refined Learning Objectives that introduce the concepts explored in each chapter, along with new applications and chapter-opening stories related to the most up-to-date developments in economics. Covering both macroeconomics and microeconomics in one concise paperback volume, this book shows readers how to think and act like an economist by showing them how to use economic concepts in their everyday lives and careers. Also Available with MyEconLab (R) This title is available with MyEconLab-an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts. NOTE: You are purchasing a standalone product; MyEconLab does not come packaged with this content. If you would like to purchase both the physical text and MyEconLab search for: 0134424050 / 9780134424057 Survey of Economics: Principles, Applications, and Tools Plus MyEconLab with Pearson eText (1-semester access) -- Access Card Package Package consists of: 0134062566 / 9780134062563 MyEconLab with Pearson eText -- Access Card -- for Survey of Economics: Principles, Applications and Tools 0134089030 / 9780134089034 Survey of Economics: Principles, Applications, and Tools

Property tax revolts have occurred both in the United States and elsewhere. This book examines the causes and consequences of such revolts with a special focus on the California experience with Proposition 13. The work examines the consequences of property tax limitations for public finance with a detailed analysis of the tax system put into place in California. Theoretical approaches and evidence from a comprehensive empirical study are used to highlight the equity and efficiency of property tax systems. Since property taxes are the primary source of revenue for local governments, the book compares and contrasts the experiences of several states with regard to the evolution of local government following property tax limitations. Finally, the book considers alternatives for reform and lessons to avoid future tax conflicts of this kind.

Property tax revolts have occurred both in the United States and abroad. This book examines the causes and consequences of such revolts, with a special focus on the California experience with Proposition 13. The work examines the consequences of property tax limitations for public finance with a detailed analysis of the tax system put into place in California. New theoretical approaches and new evidence from a comprehensive empirical study are used to highlight the equity and efficiency of property tax systems. Since property taxes are the primary source of revenue for local governments, the book compares and contrasts the experiences of several states with regard to the evolution of local government following property tax limitations. Finally, the book considers alternatives for reform and lessons to avoid future tax conflicts of this kind.

For Principles of Economics courses. Questions that drive interest, applications that illustrate concepts, and the tools to test and solidify comprehension. Students come into their first Economics course thinking they will gain a better understanding of the economy around them. Unfortunately, they often leave with many unanswered questions. To ensure students actively internalize economics, O'Sullivan/Sheffrin/Perez use chapter-opening questions to spark interest on important economic concepts, applications that vividly illustrate those concepts, and chapter-ending tools that test and solidify understanding.

O'Sullivan/Sheffrin makes use of Active Learning Tools which get readers involved in role-playing, help them apply concepts, and offer reinforcement of the material. The books hallmark feature includes a focus on the 5 Key Principles of Economics: 1) Opportunity Cost, 2) The Marginal Principle (comparing marginal benefits and marginal costs), 3) Diminishing Returns, 4) The Spillover Principle (for externalities in production and consumption), and, 5) The Reality Principle (distinguishing real from nominal magnitudes). For economists, financial analysts and other finance professionals.