Featuring current, comprehensive discussions of rational expectations, real business cycles and information economics (moral hazard and adverse selection), this book on economics incorporates real-world applications where possible, strengthening the link between theory and reality. Straightforward explanations and examples, a treatment of macroeconomics and microeconomics, as well as pedagogy have made this book an important text in the field of economics.
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Through its Defining Moments theme, the Ruffin/Gregory text provides a historical basis for students to understand the economic theories and policies of today. Defining Moments outline the ideas behind the most important events of economics—the Industrial Revolution, the Rise and Fall of Socialism, the Great Depression, Globalization, and the Information Revolution. In addition to thoroughly updated micro- and macroeconomics coverage, the new edition features a wealth of up-to-date boxed examples and all-new pedagogical features, including Learning Objectives, Chapter Puzzles, and Web Questions.
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