Economics

Offering an accessible and thorough introduction to economics, this text offers real-world examples to bring theory to life. Students and lecturers will benefit from the vast array of supplements, including a companion website with extra material and resources.

 

Intro: The Ordinary Business of Life PART I: WHAT IS ECONOMICS? First Principles Economic Models: Trade-offs and Trade Appendix: Graphs in Economics PART II: SUPPLY AND DEMAND Supply and Demand Consumer and Producer Surplus The Market Strikes Back Elasticity PART III: INDIVIDUALS AND MARKETS Taxes International Trade PART IV: ECONOMICS AND DECISION MAKING Making Decisions PART V: THE CONSUMER Rational Consumer Consumer Preferences and Consumer Choice PART VI: THE PRODUCTION DECISION Behind the Supply Curve: Inputs and Costs Perfect Competition and Supply Curve PART VII: MARKET STRUCTURE: BEYOND PERFECT COMPETITION Monopoly Oligopoly Monopolistic Competition and Product Differentiation PART VIII: MICROECONOMICS AND PUBLIC POLICY Externalities Public Goods and Common Resources Economics of the Welfare State PART IX FACTOR MARKETS AND RISK Factor Markets and the Distribution of Income Appendix: Indifference Curve Analysis of Labour Supply Uncertainty, Risk and Private Information PART X: INTRODUCTION TO MACROECONOMICS Macroeconomics: The Big Picture Tracking the Macroeconomy Unemployment and Inflation PART XI: LONG-RUN ECONOMIC GROWTH Long-Run Economic Growth Savings, Investment Spending, and the Financial System PART XII: SHORT-RUN ECONOMIC FLUCTUATIONS Income and Expenditure Appendix: Deriving the Multiplier Algebraically Aggregate Demand and Aggregate Supply PART XIII: STABILIZATION POLICY Fiscal Policy Appendix: Taxes and the Multiplier Money, Banking, and the Federal Reserve System Monetary Policy Appendix: Reconciling Two Models of the Interest Rate Inflation, Disinflation, and Deflation PART XIV: EVENTS AND IDEAS Macroeconomics: Events and Ideas PART XV: THE OPEN ECONOMY Open-Economy Macroeconomics