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Full Description
Broadly applicable. Extraordinarily useful. Refreshingly intuitive.
Betsey Stevenson and Justin Wolfers present a new synthesis of economic principles for a new generation of students. Their focus on useful economics employs compelling explanations and real-life examples to help students develop economic intuition and apply it to everyday decisions. The authors provide a fresh take on a wide range of principles topics and develop macroeconomics from its microfoundations in an engaging presentation that has drawn enthusiastic reviews from hundreds of instructors and thousands of students in pre-publication class tests.
The new edition of Principles of Economics is available with Achieve, a new, integrated online learning system that features powerful tools for each step of the Learning Path: pre-class, in-class, and post-class.
Contents
Preface.- A Quick Review of Math and Graphing.- PART I - Foundations of Economics.- 1 The Core Principles of Economics.- 2 Demand: Thinking Like a Buyer.- 3 Supply: Thinking Like a Seller.- 4 Where Supply Meets Demand.- PART II - Analyzing Markets.- 5 Elasticity: Measuring Responsiveness.- 6 When Governments Intervene In Markets.- 7 Welfare and Efficiency.- 8 The Gains From Trade.- PART III - Applications and Policy Issues.- 9 International Trade.- 10 Externalities.- 11 The Labor Market.- 12 Wages, Workers, and Management.- 13 Inequality, Social Insurance and Redistribution.- PART IV - Market Structure and Business Strategy.- 14 Market Structure and Market Power.- 15 Entry, Exit, and Long Run Profits.- 16 Business Strategy.- 17 Sophisticated Pricing Strategies.- 18 Game Theory & Strategic Choices.- PART V - Advanced Decisions.- 19 Decisions under Uncertainty.- 20 Decisions with Private Information.- PART VI - Economic Growth in the Long Run.- 21 Sizing Up the Economy.- 22 Economic Growth.- 23 Unemployment.- 24 Inflation.- PART VII - Micro Foundations of Macroeconomics.- 25 Consumption and Saving.- 26 Investment.- 27 The Financial Sector.- 28 International Finance and the Exchange Rate.- PART VIII - The Business Cycle.- 29 Business Cycles.- 30 IS-MP Analysis: Interest Rates and Output.- 30A Aggregate Expenditure and the Multiplier.- 31 The Phillips Curve.- 32 The Fed Model: Linking Interest Rates, Output, and Inflation.- 33 Aggregate Demand and Aggregate Supply.- PART IX - Macroeconomic Policy.- 34 Monetary Policy.- 35 Government Spending, Taxes, and Fiscal Policy.
