PART I: INTRODUCTION TO ECONOMICS  1. The Scope and Method of Economics  2. The Economic Problem: Scarcity and Choice  3. Demand, Supply, and Market Equilibrium  4. Demand and Supply Applications  5. Elasticity  PART II: THE MARKET SYSTEM  6. Household Behavior and Consumer Choice  7. The Production Process: The Behavior of Profit-Maximizing Firms  8. Short-Run Costs and Output Decisions  9. Long-Run Costs and Output Decisions  10. Input Demand: The Labor and Land Markets  11. Input Demand: The Capital Market and the Investment Decision  12. General Equilibrium and the Efficiency of Perfect Competition  PART III: MARKET IMPERFECTIONS AND THE ROLE OF GOVERNMENT  13. Monopoly and Antitrust Policy  14. Oligopoly  15. Monopolistic Competition  16. Externalities, Public Goods, and Common Resources  17. Uncertainty and Asymmetric Information  18. Income Distribution and Poverty  19. Public Finance: The Economics of Taxation  PART IV: CONCEPTS AND PROBLEMS IN MACROECONOMICS  20. Introduction to Macroeconomics  21. Measuring National Output and National Income  22. Unemployment, Inflation, and Long-Run Growth  PART V: THE CORE OF MACROECONOMIC THEORY  23. Aggregate Expenditure and Equilibrium Output  24. The Government and Fiscal Policy  25. Money, the Federal Reserve, and the Interest Rate  26. The Determination of Aggregate Output, the Price Level, and the Interest Rate  27. Policy Effects and Cost Shocks in the AS/AD Model  28. The Labor Market in the Macroeconomy  PART VI: FURTHER MACROECONOMICS ISSUES  29. Financial Crises, Stabilization, and Deficits  30. Household and Firm Behavior in the Macroeconomy: A Further Look  31. Long-Run Growth  32. Alternative Views in Macroeconomics  PART VII: THE WORLD ECONOMY  33. International Trade, Comparative Advantage, and Protectionism  34. Open-Economy Macroeconomics: The Balance of Payments and Exchange Rates  35. Economic Growth in Developing Economies  PART VIII: METHODOLOGY  36. Critical Thinking about Research

This title is a Pearson Global Edition. The Editorial team at Pearson has worked closely with educators around the world to include content, which is especially relevant to students outside the United States. A history of excellence in economic content and application · New and Revised - Chapters have been reworked for better flow and improved readability. More thorough discussion of and focus on important topics and issues have been added to the 13th Edition. · Expanded - A 3-tiered explanation of key concepts (using intuitive stories, followed by a table or graph, and in some cases, an equation that presents the concept with a mathematical formula) helps instructors effectively cover a large amount of material, and helps students to understand it. · Graphs, Figures, and Animations help students learn the concepts in the book. · Concept Checks act as “speed bumps” that encourage students to stop and check their understanding of fundamental terms and concepts before moving on to the next section. · New and Updated - End-of-Chapter Critical-Thinking Questions and Problem Sets reinforce economic principles and give students the opportunity to practice what they’ve just learned. Show students the relevance of economics to their lives · Real-world examples and applications illustrate and reinforce key economic concepts. · Updated - Economics in Practice boxes focus on recent research and events that support key concepts in the chapter. This helps students to think deeply about what they’ve read and make connections between what they learn in class and how it can apply to their jobs in the real world. Examine the power and breadth of microeconomic models along with the latest macroeconomic research · The introduction of a competitive market model first, followed by noncompetitive market structures gives students a clear understanding of basic economic theory and how market opportunities operate. · Updated - Important macroeconomic data throughout the text has been updated through 2018, highlighting the slow recovery from the 2008–2009 recession, giving students a good idea of what has been happening to the economy since they left high school. · Updated - The different types of research methodologies of economics are examined, giving students a sense of what the methodologies are and how to apply them in class and beyond. · Keynesian Cross material is integrated throughout the text and builds up to the AD/AS model so that students won’t mistakenly apply what they’ve learned about simple demand and supply to aggregate demand and supply. Pearson MyLabTM Economics is not included. Students, if Pearson MyLab Economics is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN. Pearson MyLab Economics should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information. · Teach your course your way: Your course is unique. So whether you’d like to build your own assignments, teach multiple sections, or set prerequisites, MyLab gives you the flexibility to easily create your course to fit your needs. · Empower each learner: Each student learns at a different pace. Personalized learning pinpoints the precise areas

A history of excellence in economic content and application · Chapters have been reworked for better flow and improved readability. More thorough discussion of and focus on important topics and issues have been added to the 13th Edition. · A 3-tiered explanation of key concepts (using intuitive stories, followed by a table or graph, and in some cases, an equation that presents the concept with a mathematical formula) helps instructors effectively cover a large amount of material, and helps students to understand it. · End-of-Chapter Critical-Thinking Questions and Problem Sets reinforce economic principles and give students the opportunity to practice what they’ve just learned. Show students the relevance of economics to their lives · Economics in Practice boxes focus on recent research and events that support key concepts in the chapter. This helps students to think deeply about what they’ve read and make connections between what they learn in class and how it can apply to their jobs in the real world. Examine the power and breadth of microeconomic models along with the latest macroeconomic research · Important macroeconomic data throughout the text has been updated through 2018, highlighting the slow recovery from the 2008—2009 recession, giving students a good idea of what has been happening to the economy since they left high school. · The different types of research methodologies of economics are examined, giving students a sense of what the methodologies are and how to apply them in class and beyond. Pearson MyLabTM Economics is not included. Students, if Pearson MyLab Economics is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN. Pearson MyLab Economics should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.