Economics: Private & Public Choice | 17th Edition

James D. Gwartney/Richard L. Stroup/Russell S. Sobel/David A. Macpherson
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Product cover for Edition by James D. Gwartney/Richard L. Stroup/Russell S. Sobel/David A. Macpherson
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Product cover for Edition by James D. Gwartney/Richard L. Stroup/Russell S. Sobel/David A. Macpherson
Copyright 2022 | {{checkPublicationMessage('Published', '2020-12-15T00:00:00+0000')}}
Access until 27 January 2031
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About This Product

Teach students to apply economics as Gwartney/Stroup/Sobel/Macpherson's ECONOMICS: PRIVATE AND PUBLIC CHOICE, 17E places more emphasis than other text of its kind on the role of entrepreneurship in a market economy and the importance of public choice analysis in understanding the political process. New coverage presents entrepreneurship as key to grasping how the competitive market uses innovations to improve living standards. Students also see how public choice analysis clarifies voter, politician and bureaucrat incentives and impacts political outcomes -- which, in turn, affects national income. Introductory chapters cover basic economic thinking and show how wealth is created using the "invisible hand" metaphor. Microeconomics models integrate entrepreneurship, the process of competition and the importance of contestable markets. Updates highlight recent changes in Federal Reserve policy, government debt and other factors impacting the macroeconomy, with special focus on the Great Suppression of 2020 related to the COVID-19 pandemic. MindTap resources further reinforce content.