Robust and reliable measures of consumer expenditures are essential for analyzing aggregate economic activity and for measuring differences in household circumstances. Many countries, including the United States, are embarking on ambitious projects to redesign surveys of consumer expenditures, with the goal of better capturing economic heterogeneity. This is an appropriate time to examine the way consumer expenditures are currently measured, and the challenges and opportunities that alternative approaches might present. Improving the Measurement of Consumer Expenditures begins with a comprehensive review of current methodologies for collecting consumer expenditure data. Subsequent chapters highlight the range of different objectives that expenditure surveys may satisfy, compare the data available from consumer expenditure surveys with that available from other sources, and describe how the United States’s current survey practices compare with those in other nations.

Lively and informed, "Scroogenomics" illustrates how consumer spending generates vast amounts of economic waste. Economist Waldfogel provides solid explanations to show why it's time to stop the madness and think twice before buying gifts for the holidays.

The contents of this text book cover markets and prices; producers, consumers and competitive markets; market structure and competitive strategy; and information, market failure and the role of government.