Get students to think like economists using the latest policy and data while incorporating global issues. Economics, 13th Edition builds on the foundation of the previous edition and retains a thorough and careful presentation of the principles of economics. The text emphasizes real-world applications, the development of critical-thinking skills, diagrams renowned for their pedagogy and clarity, and path-breaking technology. As a hallmark features in the chapter openings and endings encourage students to think critically about a news article relating to the issue, demonstrating how thinking like an economist can bring a clearer perspective to and deeper understanding of todays events.
PART I: INTRODUCTION
1. What is Economics?
2. The Economic Problem
PART II: HOW MARKETS WORK
3. Demand and Supply
4. Elasticity
5. Efficiency And Equity
6. Government Actions in Markets
7. Global markets in Action
PART III: HOUSEHOLDS CHOICES
8. Utility and Demand
9. Possibilities, Preferences, and Choices
PART IV: FIRMS AND MARKETS
10. Organizing Production
11. Output and Costs
12. Perfect Competition
13. Monopoly
14. Monopolistic Competition
15. Oligopoly
PART V: MARKET FAILURE AND GOVERNMENT
16. Public Choices, Public Goods, and Healthcare
17. Externalities
PART VI: FACTOR MARKETS, INEQUALITY, AND UNCERTAINTY
18. Markets for Factors of Production
19. Economic Inequality
20. Uncertainty and Information
PART VII: MONITORING MACROECONOMIC PERFORMANCE
21. Monitoring the Value of Production: GDP
22. Monitoring Jobs and Inflation
PART VIII: MACROECONOMIC TRENDS
23. Economic Growth
24. Finance, Saving, and Investment
25. Money, the Price Level, and Inflation
26. The Exchange Rate and the Balance of Payments
PART IX: MACROECONOMIC FLUCTUATIONS
27. Aggregate Supply and Aggregate Demand
28. Expenditure Multipliers
29. The Business Cycle, Inflation, and Deflation
PART X: MACROECONOMIC POLICY
30. Fiscal Policy
31. Monetary Policy
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