About the book

The 9th Edition incorporates updated figures and data, while also emphasising current topics of interest—including the severe economic downturn of recent years and the latest developments in economic thinking. It also includes newly refined Learning Objectives that introduce the concepts explored in each chapter, along with new applications and chapter-opening stories related to the most up-to-date developments in both macroeconomics and microeconomics.

Content:

I. Introduction and Key Principles

1. Introduction: What Is Economics?

2. The Key Principles of Economics

3. Exchange and Markets

4. Demand, Supply, and Market Equilibrium

II. The Basic Concepts in Macroeconomics

5. Measuring a Nation’s Production and Income

6. Unemployment and Inflation

III. The Economy in the Long Run

7. The Economy at Full Employment

8. Why Do Economies Grow?

IV. Economic Fluctuations and Fiscal Policy

9. Aggregate Demand and Aggregate Supply

10. Fiscal Policy

11. The Income-­Expenditure Model

12. Investment and Financial Markets

V. Money, Banking, and Monetary Policy

13. Money and the Banking System

14. The Federal Reserve and Monetary Policy

VI. Inflation, Unemployment, and Economic Policy

15. Modern Macroeconomics: From the Short Run to the Long Run

16. The Dynamics of Inflation and Unemployment

17. Macroeconomic Policy Debates

VII. The International Economy

18. International Trade and Public Policy

19. The World of International Finance

VIII. A Closer Look at Demand and Supply

20. Elasticity: A Measure of Responsiveness

21. Market Efficiency and Government Intervention

22. Consumer Choice: Utility Theory and Insights from Neuroscience

IX. Market Structures and Pricing

23. Production Technology and Cost

24. Perfect Competition

25. Monopoly and Price Discrimination

26. Market Entry and Monopolistic Competition

27. Oligopoly and Strategic Behavior

28. Controlling Market Power: Antitrust and Regulation

X. Externalities and Information

29. Imperfect Information: Adverse Selection and Moral Hazard

30. Public Goods and Public Choice

31. External Costs and Environmental Policy

XI. The Labor Market and Income Distribution

32. The Labor Market and the Distribution of Income