Front cover image for Principles of economics

Principles of economics

"Principles of Economics, Sixth Edition, became a best seller after its introduction and continues to be the most popular and widely used text in the economics classroom. Instructors found it the perfect complement to their teaching. A text by a superb writer and economist that stressed the most important concepts without overwhelming students with an excess of detail was a formula that was quickly imitated, but has yet to be matched. The sixth edition features a strong revision of content in all thirty-six chapters. Dozens of new applications emphasize the real-world relevance of economics for today's students through interesting news articles, realistic case studies, and engaging problems. The premier ancillary package is the most extensive in the industry, using a team of instructors/preparers that have been with the project since the first edition. The text material is again fully integrated into Aplia, the best-selling online homework solution. "I have tried to put myself in the position of someone seeing economics for the first time. My goal is to emphasize the material that students should and do find interesting about the study of the economy."--N. Gregory Mankiw."--Publisher's website
Print Book, English, ©2012
South-Western Cengage Learning, Mason, OH, ©2012
xxxii, 856 pages : color illustrations ; 27 cm
9780538453059, 9780538453424, 0538453052, 0538453427
Part 1: Introduction. Ten Principles of Economics ; Thinking Like an Economist ; Interdependence and the Gains from Trade
Part 2: How markets work. The Market Forces of Supply and Demand ; Elasticity and Its Application ; Supply, Demand, and Government Policies
Part 3: Markets and welfare. Consumers, Producers, and the Efficiency of Markets ; Applications: The Costs of Taxation ; Application: International Trade
Part 4: The economics of the public sector. Externalities ; Public Goods and Common Resources ; The Design of the Tax System
Part 5: Firm behavior and the organization of industry. The Costs of Production ; Firms in Competitive Markets ; Monopoly ; Monopolistic Competition ; Oligopoly
Part 6: The Economics of the labor market. The Markets for the Factors of Production ; Earnings and Discrimination ; Income Inequality and Poverty
Part 7: Topics for further study. The Theory of Consumer Choice ; Frontiers in Microeconomics
Part 8: The data of macroeconomics. Measuring a Nation's Income ; Measuring the Cost of Living
Part 9: The real economy in the long run. Production and Growth ; Saving, Investment, and the Financial System ; Tools of Finance ; Unemployment and Its Natural Rate
Part 10: Money and prices in the long run. The Monetary System ; Money Growth and Inflation
Part 11: The macroeconomics of open economics. Open-Economy Macroeconomics: Basic Concepts ; A Macroeconomic Theory of the Open Economy
Part 12: Short-run economic fluctuations. Aggregate Demand and Aggregate Supply ; The Influence of Monetary and Fiscal Policy on Aggregate Demand ; The Short-Run Tradeoff between Inflation and Unemployment
Part 13: Final thoughts. Six Debates over Macroeconomic Policy
Includes index