Authors Bob Frank, Ben Bernanke, and introducing Kate Antonovics from the University of California San Diego and Ori Heffetz from Cornell University, present a coherent short list of core principles in introductory economics and reinforce them by illustrating and applying each in numerous contexts. With engaging questions, explanations and exercises, the authors help students relate economic principles to a host of everyday experiences such as going to the ATM or purchasing airline tickets. Throughout this process, the authors encourage students to become “economic naturalists:” people who employ basic economic principles to understand and explain what they observe in the world around them.
Principles of Economics, sixth edition, is thoroughly integrated with the adaptive digital tools available in McGraw-Hill’s LearnSmart Advantage Suite, proven to increase student engagement and success in the course.
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Part 1 Introduction
1.Thinking Like an Economist
2.Comparative Advantage
3.Supply and Demand
Part 2 Competition and the Invisible Hand
4. Elasticity
5.Demand
6.Perfectly Competitive Supply
7.Efficiency, Exchange, and the Invisible Hand in Action
Part 3 Market Imperfections
8.Monopoly, Oligopoly, and Monopolistic Competition
9.Games and Strategic Behavior
10.Externalities and Property Rights
11.The Economics of Information
Part 4 Economics of Public Policy
12.Labor Markets, Poverty, and Income Distribution
13.The Environment, Health, and Safety
14.Public Goods and Tax Policy
Part 5 Macroeconomics: Data and Issues
15.Spending, Income, and GDP
16.Inflation and the Price Level
17.Wages and Unemployment
Part 6 The Economy in the Long Run
18.Economic Growth
19.Saving, Capital Formation, and Financial Markets
20.Money, Prices, and the Financial System
Part 7 The Economy in the Short Run
21.Short-Term Economic Fluctuations
22.Spending, Output, and Fiscal Policy
23.Monetary Policy and the Federal Reserve
24.Aggregate Demand, Aggregate Supply, and Business Cycles
25.Macroeconomic Policy
Part 8 The International Economy
26.Exchange Rates, International Trade, and Capital Flows
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