Economics: Principles, Applications, and Tools, Global 9th Edition

For courses in the Principles of Economics

Introduces Students to the Basic Concepts of Economics with Timely, Engaging Stories and Applications

Students enter their first economics course hoping to gain a better understanding of the world around them, but often leave with their questions unanswered. Economics: Principles, Applications, and Tools is built upon the author’s philosophy of using basic concepts of economics to explain a wide variety of timely, engaging, real-world economic applications.

The Ninth Edition incorporates updated figures and data, while also emphasizing 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.

MyEconLab® not included. Students, if MyEconLab is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyEconLab should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.

MyEconLab is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts.

Table of Contents

PART 1 Introduction and Key Principles
Chapter 1 Introduction: What Is Economics?
Chapter 2 The Key Principles Of Economics
Chapter 3 Exchange And Markets
Chapter 4 Demand, Supply, And Market Equilibrium

PART 2 The Basic Concepts in Macroeconomics
Chapter 5 Measuring A Nation’S Production And Income
Chapter 6 Unemployment And Inflation

PART 3 The Economy in the Long Run
Chapter 7 The Economy At Full Employment
Chapter 8 Why Do Economies Grow?

PART 4 Economic Fluctuations and Fiscal Policy
Chapter 9 Aggregate Demand And Aggregate Supply
Chapter 10 Fiscal Policy
Chapter 11 The Income-Expenditure Model
Chapter 12 Investment And Financial Markets

PART 5 Money, Banking, and Monetary Policy
Chapter 13 Money And The Banking System
Chapter 14 The Federal Reserve And Monetary Policy

PART 6 INFLATION, UNEMPLOYMENT, AND ECONOMIC POLICY
Chapter 15 Modern Macroeconomics: From The Short Run To The Long Run
Chapter 16 The Dynamics Of Inflation And Unemployment
Chapter 17 Macroeconomic Policy Debates

PART 7 The International Economy
Chapter 18 International Trade And Public Policy
Chapter 19 The World Of International Finance

PART 8 A Closer Look at Demand and Supply
Chapter 20 Elasticity: A Measure Of Responsiveness
Chapter 21 Market Efficiency And Government Intervention
Chapter 22 Consumer Choice: Utility Theory And Insights From Neuroscience

PART 9 Market Structures and Pricing
Chapter 23 Production Technology And Cost
Chapter 24 Perfect Competition
Chapter 25 Monopoly And Price Discrimination
Chapter 26 Market Entry And Monopolistic Competition
Chapter 27 Oligopoly And Strategic Behavior
Chapter 28 Controlling Market Power: Antitrust And Regulation

PART 10 Externalities and Information
Chapter 29 Imperfect Information: Adverse Selection And Moral Hazard
Chapter 30 Public Goods And Public Choice
Chapter 31 External Costs And Environmental Policy

PART 11 The Labor Market and Income Distribution
Chapter 32 The Labor Market And The Distribution Of Income