• Summary
  • Contents
  • Subject index

Interest in economics is at an all-time high. Among the challenges facing the nation is an economy with rapidly rising unemployment, failures of major businesses and industries, and continued dependence on oil with its wildly fluctuating price. Economists have dealt with such questions for generations, but they have taken on new meaning and significance.Tackling these questions and encompassing analysis of traditional economic theory and topics as well as those that economists have only more recently addressed, 21st Century Economics: A Reference Handbook is a must-have reference resource.Key FeaturesProvides highly readable summaries of theory and models in key areas of micro and macroeconomics, helpful for students trying to get a "big picture" sense of the fieldIncludes introductions to relevant theory as well as empirical evidence, useful ...

Economics of Energy Markets
Economics of energy markets

The improved living standards of the developed world rest on industrial processes that make intensive use of renewable and nonrenewable energy sources. Economists' attempts to understand that prosperity tend to focus on legal institutions and commercial practices rather than on resource endowments. As recently as the 1990s, David Landes's (1998) The Wealth and Poverty of Nations focuses on these institutions that enable people to contract with each other and to construct long-lived enterprises of large scale, rather than on resource endowments, including energy, as the foundations of that wealth. Thus, prosperity rests on division of labor, mechanization, and capital markets in a legal framework that enables people to coordinate their activities. Those elements were present in Adam Smith's ...

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