For two-semester principles of economics courses.

An intuitive and grounded approach to economics

Get students to think like economists using the latest policy and data while incorporating global issues. Economics, 13th Edition, Global 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. 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 today’s events.

Table of Content:
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