• 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 for readers interested in learning about economic analysis of an issue as well for students embarking on research projectsFeatures chapters focused on cutting-edge topics with appeal for economists seeking to learn about extensions of analysis into new areas as well as new approaches Presents models in graphical format and summarizes empirical evidence in ways that do not require much background in statistics or econometrics, so as to maximize accessibility to students.

Economics of Strategy
Economics of strategy

Economic and other rational decision making involves choosing one of the available actions for the environment that the decision maker is facing, given his or her objectives. Rational decision making and the subsequent choice of action depend on these two primary factors. Economics of strategy is concerned with how a rational decision maker's behavior in choosing an action can be explained by logical and strategic reasoning. A simple decision problem can be viewed as the simplest strategic problem, when there is only one agent for a given environment. Many economic problems, however, involve multiple decision makers. Our primary goal in economics of strategy is to provide a systematic analysis of how each decision maker behaves and how the strategic logics ...

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