Microeconomics: Principles and Policy remains a proven leader in the world of economics. Considered as the best policy focused principles text in the market, William J. Baumol and Alan S. Blinder's text offers a fundamental tool for learning economics. With nine editions to perfect their message, the authors continue to equip students with the knowledge and tools they need to apply modern economics to their world--now and in the future. This is all the more true today, as the U.S. economy enters its first recession in more than a decade.
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Book Description
Editorial Reviews
Review
I was looking for a book that was very clear, written in a way that the students would find interesting, and which had many examples and policy applications based on current events. In addition, I had a strong preference for a text that would cover micro before macro, and that emphasized areas of wide agreement among economists in the area of macroeconomics. I found that the Baumol-Blinder text best met these criteria. I think that overall the Baumol-Blinder text is excellent. The macro part in particular is much stronger than what I have seen in most other texts."
My overall opinion of the book is very high; it is in the top several in this field. I think the overall strength is quality of writing and balance of coverage. The students find it readable and very helpful. I believe that it presents most material in the standard manner and explains concepts in appropriate depth on a level that is introductory but not condescending to students. This is not an easy task.
My overall opinion is very favorable; I have stuck with B&B since the 6th edition. It's greatest strength is that it is comprehensive and a very good principles text.
My overall opinion of the book is very high; it is in the top several in this field. I think the overall strength is quality of writing and balance of coverage. The students find it readable and very helpful. I believe that it presents most material in the standard manner and explains concepts in appropriate depth on a level that is introductory but not condescending to students. This is not an easy task.
My overall opinion is very favorable; I have stuck with B&B since the 6th edition. It's greatest strength is that it is comprehensive and a very good principles text.
About the Author
William J. Baumol was born in New York City, and received his BSS at the College of the City of New York and his Ph.D. at the University of London. He is professor of economics at New York University, and senior research economist and professor emeritus at Princeton University. He is a frequent consultant to the management of major firms in a wide variety of industries in the United States and other countries, as well as to a number of governmental agencies. In several fields, including the telecommunications and electric utility industries, current regulatory policy is based on his explicit recommendations. Among his many contributions to economics are research on the theory of the firm, the contestability of markets, the economics of the arts and other services -- the "cost disease of the services" is often referred to as "Baumol's disease" --and economic growth, entrepreneurship and innovation. In addition to economics, he taught a course in wood sculpture at Princeton for about 20 years. He has been president of the American Economic Association, and three other professional societies. He is an elected member of the National Academy of Sciences, created by the U.S. Congress, and of the American Philosophical Society, founded by Benjamin Franklin. He also is on the board of trustees of the National Council on Economic Education, and of the Theater Development Fund. He is the recipient of 10 honorary degrees. Baumol is the author of more than 35 books, and hundreds of journal and newspaper articles. His writings have been translated into more than a dozen languages.
Alan S. Blinder was born in New York City and attended Princeton University, where one of his teachers was William J. Baumol. After earning a master's degree at the London School of Economics and a Ph.D. at MIT, Blinder returned to Princeton, where he has taught since 1971. He is the Gordon S. Rentschler Memorial Professor of Economics and co-director of Princeton's Center for Economic Policy Studies, which he founded. In January 1993, Blinder went to Washington as part of President Clinton's first Council of Economic Advisers. From June 1994 through January 1996, he served as vice chairman of the Federal Reserve Board. He thus played a role in formulating both the fiscal and monetary policies of the 1990s, topics discussed extensively in this book. For more than 10 years, Blinder wrote newspaper and magazine columns on economic policy, and his op-ed pieces still appear regularly in various newspapers. Blinder has been vice president of the American Economic Association and is a member of both the American Philosophical Society and the American Academy of Arts and Sciences. He has two grown sons, and lives in Princeton with his wife, where he plays tennis as often as he can.
Alan S. Blinder was born in New York City and attended Princeton University, where one of his teachers was William J. Baumol. After earning a master's degree at the London School of Economics and a Ph.D. at MIT, Blinder returned to Princeton, where he has taught since 1971. He is the Gordon S. Rentschler Memorial Professor of Economics and co-director of Princeton's Center for Economic Policy Studies, which he founded. In January 1993, Blinder went to Washington as part of President Clinton's first Council of Economic Advisers. From June 1994 through January 1996, he served as vice chairman of the Federal Reserve Board. He thus played a role in formulating both the fiscal and monetary policies of the 1990s, topics discussed extensively in this book. For more than 10 years, Blinder wrote newspaper and magazine columns on economic policy, and his op-ed pieces still appear regularly in various newspapers. Blinder has been vice president of the American Economic Association and is a member of both the American Philosophical Society and the American Academy of Arts and Sciences. He has two grown sons, and lives in Princeton with his wife, where he plays tennis as often as he can.
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Most Helpful Customer Reviews
6 of 6 people found the following review helpful:
5.0 out of 5 stars
great book,
By "angelos856" (Cincinnati, Ohio USA) - See all my reviews
This review is from: Microeconomics Principles and Policy (Paperback)
i bought this book for an economics class and it is one of the best textbooks i have ever used. it is easy to read and understand, plus it doesn't get nearly as boring as a lot of other textbooks. it is written for the common person and uses lots of examples to illustrate ideas - this is a great book!
4 of 4 people found the following review helpful:
5.0 out of 5 stars
Better Than McGraw Hill's ECONOMICS (McConnell/Brue/Flynn),
By
This review is from: Microeconomics: Principles and Policy (Paperback)
This is the best Economics textbooks I've used in college.
First of all, important concepts such as opportunity cost is explained in thorough detail and given many examples, spanning several pages (compare to McGraw Hill's 2-sentence explanation of opportunity cost). Graphs are clear, up to date, and almost every concept/definition is tied into real life matters or history/current news so that you are not only learning economics conceptually, but applying that information into a real world (ie. They will explain what GDP is, what happened in U.S. GDP in 2000, why it dropped and rose, and how GDP affects us). The book is very easy to understand and follow. Graphs are superb (large, colored, and professionally created). Key concepts are always in blue font so when you review the textbook for a final, you don't miss any information. As you get deeper into the book, the concepts get increasingly harder but are always explained clearly so you can understand. The ONLINE "APLIA" website is great software. It has lots of questions and every question will explain why your answer is correct OR wrong. In comparison to McGraw Hill's "Connect", their software has NO explanation on wrong answers, cannot grade short answers correctly, and the graphing software questions are way way behind Aplia's. There are NO vague questions on APLIA, whereas Hill's CONNECT has many. ------ Definitely get this book if you are a beginner in economics, or, want to learn economics in a way that ties real life into it, has lots of examples, very easy-to-understand wording, in-depth conceptual explanations, and a stellar online companion.
2 of 2 people found the following review helpful:
5.0 out of 5 stars
best economics book I've had,
By
Amazon Verified Purchase(What's this?)
This review is from: Microeconomics: Principles and Policy (with InfoTrac) (Paperback)
Of all the economics books I've seen as a college student, this is the best one I've read.
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