Economics: Principles, Problems, and Policies / Edition 19

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Overview

McConnell, Brue, and Flynn’s Economics: Principles, Problems, and Policies is the #1 Principles of Economics textbook in the world. It continues to be innovative while teaching students in a clear, unbiased way. The 19th Edition builds upon the tradition of leadership by sticking to 3 main goals: Help the beginning student master the principles essential for understanding the economizing problem, specific economic issues, and the policy alternatives; help the student understand and apply the economic perspective and reason accurately and objectively about economic matters; and promote a lasting student interest in economics and the economy.

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Product Details

  • ISBN-13: 9780073511443
  • Publisher: McGraw-Hill Higher Education
  • Publication date: 1/31/2011
  • Edition description: Older Edition
  • Edition number: 19
  • Pages: 896
  • Sales rank: 123,549
  • Product dimensions: 8.70 (w) x 10.00 (h) x 1.40 (d)

Meet the Author

Sean is an assistant professor of economics at Scripps College in Claremont, California.

He is the author of the international best seller "Economics for Dummies" as well as the coauthor, along with Campbell McConnell and Stanley Brue, of the world's best-selling college economics textbook, "Economics: Principles, Problems, and Policies".

An avid martial artist, Sean is a former Aikido national champion and has coached five of his students to U.S. national aikido titles.

A recurring commentator on FOX Business, ABC News, and NPR, Sean holds a B.A. in economics from the University of Southern California and a Ph.D. in economics from U.C. Berkeley, where he completed his dissertation under the supervision of Nobel Laureate George Akerlof.

Sean's research focuses on the often puzzling and seemingly irrational behavior of stock market investors, but he's also investigated topics as wide-ranging as the factors that affect customer tipping behavior at restaurants and why you see a lot of unionized workers only in certain industries.

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Table of Contents

Preface
Acknowledgments
Suggested One-Semester and One-Quarter Course
Outlines
Pt. 1 An Introduction to Economics and the Economy
1 The Nature and Method of Economics 1
2 The Economizing Problem 19
3 Pure Capitalism and the Circular Flow 35
4 Understanding Individual Markets: Supply and Demand 47
5 The Private Sectors and the Market System 67
6 The Public Sector 88
Pt. 2 National Income, Employment, and Fiscal Policy
7 Measuring Domestic Output, National Income, and the Price Level 105
8 Macroeconomic Instability: Unemployment and Inflation 129
9 Aggregate Demand and Aggregate Supply 151
10 Classical and Keynesian Theories of Employment 171
11 Equilibrium Domestic Output in the Keynesian Model 196
12 Fiscal Policy 221
Pt. 3 Money, Banking, and Monetary Policy
13 Money and Banking 243
14 How Banks Create Money 264
15 The Federal Reserve Banks and Monetary Policy 281
Pt. 4 Problems and Controversies in Macroeconomics
16 Alternative Views: Monetarism and Rational Expectations 305
17 The Inflation-Unemployment Relationship 324
18 Budget Deficits and the Public Debt 349
19 Economic Growth 365
Pt. 5 Microeconomics of Product and Resource Markets
20 Demand and Supply: Elasticities and Applications 383
21 Consumer Behavior and Utility Maximization 402
22 The Costs of Production 418
23 Price and Output Determination: Pure Competition 438
24 Price and Output Determination: Pure Monopoly 465
25 Price and Output Determination: Monopolistic Competition 485
26 Price and Output Determination: Oligopoly 498
27 Production and the Demand for Resources 518
28 The Pricing and Employment of Resources: Wage Determination 533
29 The Pricing and Employment of Resources: Rent, Interest, and Profits 553
30 General Equilibrium: The Market System and Its Operation 567
Pt. 6 Government and Current Economic Problems
31 Government and Market Failure: Public Goods, the Environment, and Information Problems 579
32 Public Choice Theory and Taxation 599
33 Antitrust and Regulation 619
34 Agriculture: Economics and Policy 638
35 Income Inequality and Poverty 654
36 Labor Market Issues: Unionism, Discrimination, and Immigration 672
Pt. 7 International Economics and the World Economy
37 International Trade: Comparative Advantage and Protectionism 697
38 Exchange Rates, the Balance of Payments, and Trade Deficits 720
39 Growth and the Less Developed Countries 745
40 The Soviet Economy in Transition 765
Glossary G1
Index I1
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