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Nov 28

The book is largely free of grammatical errors. There are few enough specifics that can go out of date quickly, but there are too few concrete examples as a result. This will lead to problems for students who need more concrete examples when being introduced to a concept. Some of the time series data ends in by 2010, some in the year 2000. My rating on comprehensiveness is referring directly to the lack of applied econometric and economic analysis material as you would find in a text as by Stock and Watson, or Angrist, et al. Graphs have no color. The clarity and ease of reading is fairly direct. Standard mathematical tools, including calculus, are used throughout. Econ 201: Introduction to Economic Analysis October 21 Lecture: Capital Markets Jeffrey Parker Reed College. Students are also given Exercises to practice the concepts, however there are no solutions. It is not. Often, the language is informal and conversational. The accuracy of the material is high. The book is quite concise and covers all the standard topics. The text is fairly standard in its approach and focuses on typical examples and markets that will be familiar to other texts. It is not terribly difficult to figure out. As such, it reflects the approach actually adopted by the majority of economists for understanding economic activity. I cannot be sure that the problems I have reading the equations throughout are not due to my own computer/interface, but I found the equations in particular difficult to read clearly. This online textbook, provided by R. Preston McAfee (Calfornia Institute of Technology), provides a rigorous coverage of a wide range of microeconomic topics. He has been a consultant to numerous organizations including the Florida Attorney General’s Office, the World Bank Project on Abatement of Greenhouse Gases, Florida Power and Light Company, the Federal Trade Commission, the Department of Energy, the Rand Corporation, and many others. The equations in the textbook can be better typeset, for example, the equations associated with elasticities can be improved. Occasionally, there seems to be a formatting error that combines words. known as political economy, is a significant branch of economics. Instructors should be able to choose which concepts fit their course with ease. There are other formatting issues like “Unexpected text node: ‘.” Firefox was able to display the math correctly, while Google Chrome and Internet Explorer were not. The text varies between intuitive discussions of real-world markets and deep mathematics. You are currently offline. Goods are allocated by certain means, like theft, deemed illegal by the government, and such allocation methods nevertheless fall within the domain of economic analysis; the market for marijuana remains vibrant despite interdiction by the governments of most nations. There are lots of models and equations, and no pictures of economists ;-). read more. Occasionally, the text will use examples that seem 10 to 20 years old like “camcorders.” The comprehensiveness of the material itself in terms of topics covered is quite good - better, in fact, than many other intermediate textbooks. Economic analysis What not to do… Don’t use cost minimisation analysis –Costs and health benefits have a joint distribution, so t-tests of health benefits alone are not valid Don’t use average cost-effectiveness ratio 2 3 QALY c o s t s £6000 £3000 A - £1500 / QALY B - £2000 / QALY This only compares A with “do This book flips consumer and producer theory, and I don't think that works. The math will potentially alienate students who take the course who are less comfortable with calculus. However, the title should be changed to be more relevant. The intuitive portions of the text will be something that students at the intermediate level will be able to understand easily. Dr. Lewis has published two books, numerous articles, and has served as editor on a wide range of journals including: the Journal of Law, Economics and Organization, the B. E. journals in industrial organization, and Review of Network Economics—to name a few. The title of this book is misleading. The book covers all the necessary topics, starting from a series of introductory and overview chapters, to fundamental consumer and producer theories, to game theory and its applications and beyond. The text, as most economics texts, uses dispassionate language. The math in the chapters is limited to general forms. The first review of the book was off in my opinion, because the reviewer thought this book was about econometrics but in fact it has nothing to do with econometrics. McAfee: Introduction to Economic Analysis, http://www.introecon.com, November 27, 2005 iii Introduction to Economic Analysis Version 1.5 by R. Preston McAfee He is on leave as Vice-President and Research Fellow at Yahoo!, where he heads an economic research team. The text appears to be clearly laid out and easily updatable. Relative to a standard textbook, this book has fewer graphs to illustrate concepts, a quicker explanation of math, and shorter chapters. Students and instructors will need to test several browsers to see which one accurately displays the equations. Chapters are broken down into manageable parts that would allow students to read effectively in shorter doses rather than sit and read through a longer chapter at a time, something many students cannot do with great retention. For instance, students are asked to draw an Edgeworth box in CH 6 when the concept is not covered until CH 14. read more, The title of this book is misleading. CC BY-NC-SA, Reviewed by Brendan Cushing Daniels, Associate Professor or Economics, Gettysburg College on 4/20/20, Unless I am missing it because the file I downloaded is incomplete, there is no index or glossary, nor is there a table of contents. This text has a significant amount of value in its content. The book easily serves as an intermediate microeconomics text, and can be used for a relatively sophisticated undergraduate who has not taken a basic university course in economics. 1 Macroeconomics Macroeconomics (Greek makro = ‘big’) describes and explains economic processes that concern aggregates. However, the introduction of the math is high-level. Overall the organization is clear and logical. The comprehensiveness of the material itself in terms of topics covered is quite good - better, in fact, than many... Since the book covers all the core topics of intermediate microeconomics, it should not be obsolete for a while. Not only internally consistent, but students who have taken an introductory course using any standard text would find it easy to access the material in this textbook. Reviewed by Hanzhe Zhang, Assistant Professor, Michigan State University on 10/19/19, The book covers all the necessary topics, starting from a series of introductory and overview chapters, to fundamental consumer and producer theories, to game theory and its applications and beyond. Additionally, there seems to be a formatting error when the math is displayed. Students who do not have much experience with applying math to economics will likely be lost. He has been awarded over 15 grants, fellowships, and awards.

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