This best-selling introduction to economics shows readers that economics is a powerful way of thinking and actually teaches them how to thinklike an economist and how to use economics to interpret world events. Reader-friendly and hands-on in approach, it provides a unified approach to economic theory, issues and policies using a variety of methods (stories, graphs, and equations) to present economics principles. Offers exceptionally up-to-date coverage in data, examples, events and topics. Begins with an introduction to economic basics, then explores microeconomics and macroeconomics, in depth. Considers both consumers and firms (including the capital market and the investment decision); market imperfections and the role of government; and current applied microeconomics issues (public finance; the economics of labor markets and labor unions; and health care, immigration, and urban problems). Explores macroeconomic principles and policy; macroeconomic analysis and issues; debates in macroeconomics and economic growth (Monetarism New Classical Theory; Supply-Side Economics; economic growth and productivity). Integrates global/international concerns/issues throughout. For anyone interested in a solid introduction to economics.
|Edition description:||Older Edition|
|Product dimensions:||8.80(w) x 11.00(h) x 1.20(d)|
Table of Contents
I. INTRODUCTION TO ECONOMICS.
2. The Economic Problem: Scarcity and Choice.
3. Demand, Supply, and Market Equilibrium.
4. The Price System, Demand and Supply, and Elasticity.
II. FOUNDATIONS OF MICROECONOMICS: CONSUMERS AND FIRMS.
6. The Production Process: The Behavior of Profit Maximizing Firms.
7. Short-Run Costs and Output Decisions.
8. Costs and Output Decisions in the Long Run.
9. Input Demand: The Labor and Land Markets.
10. Input Demand: The Capital Market and the Investment Decision.
11. General Equilibrium and the Efficiency of Perfect Competition.
III. MARKET IMPERFECTIONS AND THE ROLE OF GOVERNMENT.
13. Monopolistic Competition and Oligopoly.
14. Externalities, Public Goods, Imperfect Information, and Social Choice.
15. Income Distribution and Poverty.
IV. CONCEPTS AND PROBLEMS IN MACROECONOMICS.
17. Measuring National Output and National Income.
18. Long-Run and Short-Run Concerns: Growth, Productivity, Unemployment, and Inflation.
V. THE GOODS AND MONEY MARKETS.
20. The Government and Fiscal Policy.
21. The Money Supply and the Federal Reserve System.
22. Money Demand, the Equilibrium Interest Rate, and Monetary Policy.
VI. MACROECONOMIC ANALYSIS.
24. Aggregate Demand, Aggregate Supply, and Inflation.
25. The Labor Market, Unemployment, and Inflation.
26. Macroeconomic Issues and Policy.
27. Household and Firm Behavior in the Macroeconomy: A Further Look.
28. Long-Run Growth.
29. Debates in Macroeconomics: Monetarism, New Classical Theory, and Supply Side Economics.
VII. THE WORLD ECONOMY.
31. Open Economy Macroeconomics: The Balance of Payments and Exchange Rates.
32. Economic Growth in Developing and Transitional Economies.
Solutions to Even-Numbered Problems.