Economics: Principles and Tools (4th Edition) (O'Sullivan/Sheffrin Economics: Principles and Tools 4e Series)

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By: Arthur O'Sullivan and Steven Sheffrin
(3 customer reviews)
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EDITORIAL REVIEW

This modern, Micro first book has a strong foundation in demand and supply. Its thoughtful coverage of change in demand vs. change in quantity demanded (also in supply coverage) enables readers to better visualize and truly understand the difference between these 2 fundamental concepts. Its 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.

PRODUCT DETAILS

Publisher: Prentice Hall
Pub. Date: 2nd January 2005
Catalog: Book
Media: Hardcover
Number Of Pages: 848
Ean: 9780131479715
Isbn: 0131479717

ABOUT THIS BOOK

USER REVIEWS

Manageable and informative!
~ Written on Dec 14, 2001. 4 out of 4 users found this review helpful.

The second edition of Economics: Principles and Tools by O'Sullivan/Sheffrin provides a good introduction to both macro and microeconomics. This was especially true for me since my math skills aren't up to par. It was manageable and understandable for those who don't do well with numbers. The CD was helpful in understanding the graphs that were involved in textbook. In addition to providing an introduction to economics, it does a good job of helping you understand how you can use economics in your everyday life. Especially in chapter two where they introduce five economic principles you will reuse throughout your economic course and in your daily life: (1) principle of opportunity cost, (2) marginal principle, (3) principle of diminishing returns, (4) spillover principle, (5) reality principle. Economics: Principles and Tools is an excellent resource and textbook for anyone who has a limited knowledge of economics and is willing to learn these five economic principles.

A Review of O'Sullivan/Sheffrin
~ Written on Jun 5, 2000. 3 out of 3 users found this review helpful.

Lacking is ease of use. Chapter 8 (critical chapter) especially dense. Did not like.

Not to bad
~ Written on Apr 6, 2000. 2 out of 2 users found this review helpful.

This book was very easy to read, it can be classified as an intro to Econ. It is used in the 201 class at UTK. It is however not that great when it comes to examples.

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