For six editions, Michael Parkin has written and rewritten with the unwavering goal of opening students' eyes to the economic way of thinking. Using a straight forward, precise, and clear writing style, Parkin puts the student at center stage. Parkin offers a thorough and detailed presentation of modern economics, including dynamic comparative advantage, game theory, rational expectations, new growth theory, and real business cycle theory. To promote a rich, active learning experience, Parkin offers a comprehensive online learning environment featuring a dynamic e-book, interactive tutorials and quizzes, daily news updates, and more. Changes to the Sixth Edition include a new introductory chapter that emphasizes the central role of tradeoffs in economics, a new chapter on Global Stock Markets, all-new Reading Between the Lines, and a full-color Electronic Study Guide CD-ROM packaged with every new textbook for free.
Table of Contents
1. What Is Economics? 2. The Economic Problem.
II. HOW MARKETS WORK.
3. Demand and Supply. 4. Elasticity. 5. Efficiency and Equity. 6. Markets in Action.
III. HOUSEHOLDS' CHOICES.
7. Utility and Demand. 8. Possibilities, Preferences, and Choices.
IV. FIRMS AND MARKETS.
9. Organizing Production. 10. Output and Costs. 11. Perfect Competition. 12. Monopoly. 13. Monopolistic Competition and Oligopoly.
V. FACTOR MARKETS.
14. Demand and Supply in Factor Markets. 15. Economic Inequality.
VI. MARKET FAILURE AND GOVERNMENT.
16. Public Goods and Taxes. 17. Regulation and Antitrust Law. 18. Externalities.
VII. THE GLOBAL ECONOMY.
19. Trading with the World. 20. Global Stock Markets.