• 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.

Matching Markets
Matching markets

A matching market assigns objects to individuals, or individuals to each other. Typically, the different objects are indivisible, and individuals differ in how much they value each of them, so that the assignment has important implications for the well-being of the individuals. Moreover, relevant applications involve markets where the use of monetary payments is limited or infeasible, such as public school choice, assignment of graduate students, or the exchange of live-donor kidneys for transplantation. In these markets, exhausting all opportunities for mutually beneficial exchange with the limited means available is important for the well-being and, in the case of the last example, the health of those involved. This chapter will demonstrate how economic theory can offer some guidance for the design of ...

  • Loading...
locked icon

Sign in to access this content

Get a 30 day FREE TRIAL

  • Watch videos from a variety of sources bringing classroom topics to life
  • Read modern, diverse business cases
  • Explore hundreds of books and reference titles