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9780131388987

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Karl E. Case is Professor of Economics Emeritus at Wellesley College where he has taught for 34years and served several tours of duty as Department Chair. He is a Senior Fellow at the JointCenter for Housing Studies at Harvard University and a founding partner in the real estateresearch firm of Fiserv Case Shiller Weiss, which produces the S&P Case-Shiller Index of homeprices.He serves as a member of the Index Advisory Committee of Standard and Poor's, and alongwith Ray Fair he serves on the Academic Advisory Board of the Federal Reserve Bank of Boston.Before coming to Wellesley, he served as Head Tutor in Economics (director of undergraduatestudies) at Harvard, where he won the Allyn Young Teaching Prize.He was Associate Editor ofthe Journal of Economic Perspectives and the Journal of Economic Education, and he was a memberof the AEA's Committee on Economic Education. Professor Case received his B.A. from Miami University in 1968; spent three years on activeduty in the Army, and received his Ph.D. in Economics from Harvard University in 1976.Professor Case's research has been in the areas of real estate, housing, and public finance. Heis author or coauthor of five books, including Principles of Economics, Economics and Tax Policy, and Property Taxation: The Need for Reform, and he has published numerous articles in professionaljournals. For the last 25 years, his research has focused on real estate markets and prices.He has authorednumerous professional articles, many of which attempt to isolate the causes and consequences ofboom and bust cycles and their relationship to regional and national economic performance. Ray C. Fair is Professor of Economics at Yale University. He is a member of the CowlesFoundation at Yale and a Fellow of the Econometric Society. He received a B.A. in Economicsfrom Fresno State College in 1964 and a Ph.D. in Economics from MIT in 1968. He taught atPrinceton University from 1968 to 1974 and has been at Yale since 1974.Professor Fair's research has primarily been in the areas of macroeconomics and econometrics, with particular emphasis on macroeconometric model building.He also has done work in the areasof finance, voting behavior, and aging in sports. His publications include Specification, Estimation, and Analysis of Macroeconometric Models (Harvard Press, 1984); Testing Macroeconometric Models (Harvard Press, 1994); and Estimating How the Macroeconomy Works (Harvard Press, 2004).Professor Fair has taught introductory and intermediate macroeconomics at Yale. He hasalso taught graduate courses in macroeconomic theory and macroeconometrics.Professor Fair's U.S. and multicountry models are available for use on the Internet free ofcharge. The address is http: //fairmodel.econ.yale.edu.Many teachers have found that having studentswork with the U.S. model on the Internet is a useful complement to an introductorymacroeconomics course. Sharon M. Oster is the Dean of the Yale School of Management, where she is also the FredericWolfe Professor of Economics and Management. Professor Oster joined Case and Fair as a coauthorin the ninth edition of this book. Professor Oster has a B.A. in Economics from HofstraUniversity and a Ph.D. in Economics from Harvard University.Professor Oster's research is in the area of industrial organization. She has worked on problems ofdiffusion of innovation in a number of different industries, on the effect of regulations on business, and on competitive strategy. She has published a number of articles in these areas and is the author ofseveral books, including Modern Competitive Analysis and The Strategic Management of Nonprofits. Prior to joining the School of Management at Yale, Professor Oster taught for a number ofyears in Yale's Department of Economics. In the department, Professor Oster taught introductoryand intermediate microeconomics to undergraduates as well as several graduate courses in industrialorganization. Since 1982, Professor Oster has taught primarily in the Management School, where she teaches the core microeconomics class for MBA students and a course in the area of competitivestrategy. Professor Oster also consults widely for businesses and nonprofit organizationsand has served on the boards of several publicly traded companies and nonprofit organizations.

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