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This page intentionally left blank CTECON-front-end-sheets_Cowen1e_00_IFC Left 11/10/11 4:05 PM Page 1 You’ll be hooked from page 1... M O C . D N A H E L B I S I V N I E ...by the most compelling writing in the H T E principles of economics market. E S C O W E N • TA B A R R O K MODERN PRINCIPLES OF ECONOMICS, SECOND EDITION CTECON-front-end-sheets_Cowen1e_00_IFC Left 11/10/11 4:05 PM Page 2 C O W E N • TA B A R R O K MODERN PRINCIPLES OF ECONOMICS, SECOND EDITION When you write this well, you don’t S E E need boxes to maintain interest… T H E I N V I S I B L E H A N D . C O M CTECON-front-end-sheets_Cowen1e_00_IFC Left 11/10/11 4:06 PM Page 3 Beautiful, uncluttered design with pictures that drive the story… Economic Growth Financial System Wealth of Nations M O C . D N A H E L B I S I V N I E H T E Investments International Trade E S C O W E N • TA B A R R O K MODERN PRINCIPLES OF ECONOMICS, SECOND EDITION This page intentionally left blank MODERN PRINCIPLES OF ECONOMICS CCoowweenn22ee__EEccoonn__ii__HHaallffTTiittllee..iinndddd ii 1100//2244//1111 1100::0066 AAMM this page left intentionally blank CCoowweenn22ee__EEccoonn__ii__HHaallffTTiittllee..iinndddd iiii 1100//2244//1111 1100::0066 AAMM MODERN PRINCIPLES OF ECONOMICS Second Edition Tyler Cowen George Mason University Alex Tabarrok George Mason University Worth Publishers CCoowweenn22ee__EEccoonn__iiiiii__TTiittlleePPgg..iinndddd iiiiii 1100//2244//1111 1100::0066 AAMM Senior Publisher: Catherine Woods Executive Editor: Charles Linsmeier Senior Acquisitions Editor: Sarah Dorger Executive Marketing Manager: Scott Guile Consulting Editor: Paul Shensa Senior Developmental Editor: Bruce Kaplan Supplements and Media Editor: Tom Acox Director of Market Research and Development: Steven Rigolosi Associate Managing Editor: Lisa Kinne Editorial Assistant: Mary Walsh Art Director: Babs Reingold Cover and Text Designer: Kevin Kall Project Editor: Anthony Calcara Photo Editor: Christine Buese Production Manager: Barbara Anne Seixas Supplements Production Manager: Stacey Alexander Supplements Project Editor: Edgar Bonilla Composition: TSI Graphics Printing and Binding: RR Donnelley Cover Image: Image Werks/Corbis and Jim Roof/myLoupe.com Library of Congress Control Number: 2011940683 ISBN-13: 978-1-4292-3997-4 ISBN-10: 1-4292-3997-2 © 2013, 2010 by Worth Publishers All rights reserved. Printed in the United States of America First printing 2011 Worth Publishers 41 Madison Avenue New York, NY 10010 www.worthpublishers.com CCoowweenn22ee__EEccoonn__iivv__CCRR..iinndddd iivv 1100//2244//1111 1100::0066 AAMM