Essentials of Economics

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  • Edition: 4th
  • Format: Paperback
  • Copyright: 2014-03-10
  • Publisher: Pearson
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For one-semester Principles of Economics courses at two- and four-year colleges and universities

Reveal the relevance of economics through real-world business examples

One of the challenges of teaching Principles of Economics is fostering interest in concepts that may not seem applicable to students’ lives. Essentials of Economics, Fourth Edition makes economics relevant by demonstrating how real businesses use economics to make decisions every day. Regardless of their future career path–opening an art studio, trading on Wall Street, or bartending at the local pub–students will benefit from understanding the economic forces behind their work.

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Personalize learning with MyEconLab: This online homework, tutorial, and assessment program fosters learning and provides tools that help instructors to keep students on track.
Show students how economics is relevant: Relatable features ground course material in the real world, showing students how these ideas are relevant and facilitating understanding.
Foster thorough understanding via a flexible, student-focused approach: An engaging, captivating writing style and student-friendly learning aids motivate and engage students.

Note: If you are purchasing the standalone text or electronic version, MyEconLab does not come automatically packaged with the text. To purchase MyEconLab please visit www.myeconlab.com or you can purchase a package of the physical text + MyEconLab by searching for 0133826708 / 9780133826708. MyEconLab is not a self-paced technology and should only be purchased when required by an instructor.

Table of Contents

I. Introduction
1. Economics: Foundations and Models
2. Trade-offs, Comparative Advantage, and the Market System
3. Where Prices Come From: The Interaction of Demand and Supply

II. Markets in Action: Policy and Applications
4. Market Efficiency and Market Failure  
5. The Economics of Healthcare

III. Microeconomic Foundations: Consumers and Firms
6. Firms, the Stock Market, and Corporate Governance
7. Consumer Choice and Elasticity  
8. Technology, Production, and Costs

IV. Market Structure and Firm Strategy
9. Firms in Perfectly Competitive Markets
10. Monopoly and Antitrust
11. Monopolistic Competition and Oligopoly

V. Macroeconomic Foundations

12. GDP: Measuring Total Production and Income
13. Unemployment and Inflation

VI. Long-Run and Short-Run Fluctuations
14. Economic Growth, the Financial System and Business Cycles
15. Aggregate Demand and Aggregate Supply Analysis

VII. Monetary and Fiscal Policy
16. Money, Banks, and the Federal Reserve System
17. Monetary Policy
18. Fiscal Policy
19. Comparative Advantage, International Trade, and Exchange Rates

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