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ECONOMICS: PRINCIPLES AND POLICY, 12e, International Edition teaches the principles of economics, including current economic situations, providing an essential resource for faculty and students who want a solid introduction that calls on policy-based information for examples and applications.
Contents
Part I: GETTING ACQUAINTED WITH ECONOMICS.
1. What Is Economics?
2. The Economy: Myth and Reality.
3. The Fundamental Economic Problem: Scarcity and Choice.
4. Supply and Demand: An Initial Look.
Part II: THE BUILDING BLOCKS OF DEMAND AND SUPPLY.
5. Consumer Choice: Individual and Market Demand.
6. Demand and Elasticity.
7. Production, Inputs, and Cost: Building Blocks for Supply Analysis.
8. Output, Price, and Profit: The Importance of Marginal Analysis.
9. Securities, Business Finance, and the Economy: The Tail That Wags the Dog?
Part III: MARKETS AND THE PRICE SYSTEM.
10. The Firm and the Industry under Perfect Competition.
11. Monopoly.
12. Between Competition and Monopoly.
13. Limiting Market Power: Regulation and Antitrust.
Part IV: THE VIRTUES AND LIMITATIONS OF MARKETS.
14. The Case for Free Markets: The Price System.
15. The Shortcomings of Free Markets.
16. The Market�s Prime Achievement: Innovation and Growth.
17. Externalities, the Environment, and Natural Resources.
18. Taxation and Resource Allocation.
Part V: THE DISTRIBUTION OF INCOME.
19. Pricing the Factors of Production.
20. Labor and Entrepreneurship: The Human Inputs.
21. Poverty, Inequality, and Discrimination.
Part VI: THE MACROECONOMY: AGGREGATE SUPPLY AND DEMAND.
22. An Introduction to Macroeconomics.
23. The Goals of Macroeconomic Policy.
24. Economic Growth: Theory and Policy.
25. Aggregate Demand and the Powerful Consumer.
26. Demand-Side Equilibrium: Unemployment or Inflation?
27. Bringing in the Supply Side: Unemployment and Inflation?
Part VII: FISCAL AND MONETARY POLICY.
28. Managing Aggregate Demand: Fiscal Policy.
29. Money and the Banking System.
30. Monetary Policy: Conventional and Unconventional.
31.The Financial Crisis and the Great Recession.
32. The Debate over Monetary and Fiscal Policy.
33. Budget Deficits in the Short and Long Run.
34. The Trade-Off between Inflation and Unemployment.
Part VIII: THE UNITED STATES IN THE WORLD ECONOMY.
35. International Trade and Comparative Advantage.
36. The International Monetary System: Order or Disorder?
37. Exchange Rates and the Macroeconomy.
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