PART I: INTRODUCTION  1. What is Economics?  2. The Economic Problem    PART II: HOW MARKETS WORK  3. Demand and Supply  4. Elasticity  5. Efficiency And Equity  6. Government Actions in Markets  7. Global markets in Action    PART III: HOUSEHOLDS’ CHOICES  8. Utility and Demand  9. Possibilities, Preferences, and Choices    PART IV: FIRMS AND MARKETS  10. Organizing Production  11. Output and Costs  12. Perfect Competition  13. Monopoly  14. Monopolistic Competition 15. Oligopoly    PART V: MARKET FAILURE AND GOVERNMENT  16. Public Choices, Public Goods, and Healthcare 17. Externalities    PART VI: FACTOR MARKETS, INEQUALITY, AND UNCERTAINTY  18. Markets for Factors of Production  19. Economic Inequality  20. Uncertainty and Information 

Focus on real-world economics and current global issues New - News-Based Problems and Applications include 100 topics like: Shrinking brick-and-mortar retail and expanding online shopping; time spent by gamers playing video games; why tuition is so high; Facebook and Google in mobile ads market; Toyota's "Customer First" principle; La La Land has the worst traffic congestion, and merit pay for teachers. · Updated - At Issue feature in Chapter 5 on the minimum wage now includes David Neumark’s combination of all the most recent empirical studies and Michael Luca’s Stanford Institute for Economic Policy Research pioneering study using a huge dataset from online review resource Yelp. · Interviews with Economists show students that people just like them have gone on to change the landscape of economic history. At the end of each part, a featured leading economist, shares what inspired them to pursue a career in economics. With relevant advice geared toward beginners, students see how real people can make a difference in the discipline. The impact of a technical and changing economic market · New - "Chapter 1: Economists in the Economy," describes the types of jobs available to economics majors, their earnings compared with majors in other related areas, and the critical thinking, analytical, math, writing, and oral communication skills needed for a successful career in economics. · New - Chapter 2 features the rust-belt economy - its causes and cures, which describes and illustrates the changing patterns of production as an economy expands, and explains how technical change and economic growth first shrinks the share of agriculture as manufacturing expands and later shrinks the share of manufacturing as services expand. Help students retain and understand key economic concepts  · Updated - Data figures, tables, and explanations include four main content changes; 30 new Economics in the News items based on recent events and issues. o  Parkin's diagrams show the action. With consistent and meaningful use of color, each and every figure has been designed with the needs of students in mind. Graphs are paired with data tables, color-blended arrows show movement, diagrams are labeled with boxed notes, and extended captions provide study and review. · Worked Problems are part of the chapter review, and allow students the opportunity to work a multi-part problem that covers the core content of the chapter and consists of questions, solutions, and key figures. This increases the incentive for students to learn-by-doing and actively, rather than passively, review the chapter. · In-text Review Quizzes reinforce major concepts and test students’ knowledge of the topics just discussed. These questions can be assigned and auto-graded in MyLab™ Economics, which is a convenient way to encourage students to read the chapter before coming to class.   MyLabTM Economics not included. Students, if MyLab is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyLab should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information. MyLabTM is the teaching and learning platform that empowers you to reach every student. It is an online homework, tutorial, and assessment product designed to personalize learning and improve results. With a wide range of interactive, engaging, and assignable activities, students are encouraged to actively learn and retain tough course concepts. By combining trusted author content with digital tools and a flexible platform, MyLab personaliz

Focus on real-world economics and current global issues News-Based Problems and Applications include 100 topics like: Shrinking brick-and-mortar retail and expanding online shopping; time spent by gamers playing video games; why tuition is so high; Facebook and Google in mobile ads market; Toyota's "Customer First" principle; La La Land has the worst traffic congestion, and merit pay for teachers. · At Issue feature in Chapter 5 on the minimum wage now includes David Neumark’s combination of all the most recent empirical studies and Michael Luca’s Stanford Institute for Economic Policy Research pioneering study using a huge dataset from online review resource Yelp. The impact of a technical and changing economic market · "Chapter 1: Economists in the Economy," describes the types of jobs available to economics majors, their earnings compared with majors in other related areas, and the critical thinking, analytical, math, writing, and oral communication skills needed for a successful career in economics. · Chapter 2 features the rust-belt economy - its causes and cures, which describes and illustrates the changing patterns of production as an economy expands, and explains how technical change and economic growth first shrinks the share of agriculture as manufacturing expands and later shrinks the share of manufacturing as services expand. Help students retain and understand key economic concepts  · Data figures, tables, and explanations include four main content changes; 40 new Economics in the News items based on recent events and issues. o  Parkin's diagrams show the action. With consistent and meaningful use of color, each and every figure has been designed with the needs of students in mind. Graphs are paired with data tables, color-blended arrows show movement, diagrams are labeled with boxed notes, and extended captions provide study and review.