Principles and Applications of Economics, International Edition

PART I. PRELIMINARIES. 1. What Is Economics? 2. Scarcity, Choice, and Economic Systems. 3. Supply and Demand. 4. Working with Supply and Demand. PART II. MICROECONOMIC DECISION MAKERS. 5. Consumer Choice. 6. Production and Cost. 7. How Firms Make Decisions: Profit Maximization. PART III. PRODUCT MARKETS. 8. Perfect Competition. 9. Monopoly. 10. Monopolistic Competition and Oligopoly. PART IV. LABOR, CAPITAL, AND FINANCIAL MARKETS. 11. The Labor Market. 12. Economic Inequality. 13. Capital and Financial Markets. PART V. EFFICIENCY, GOVERNMENT, AND THE GLOBAL ECONOMY. 14. Economic Efficiency and the Role of Government. 15. Comparative Advantage and the Gains from International Trade. PART VI. MACROECONOMICS: BASIC CONCEPTS. 16. What Macroeconomics Tries to Explain. 17. Production, Income, and Employment. 18. The Monetary System, Prices, and Inflation. PART VII. LONG-RUN MACROECONOMICS. 19. The Classical Long-Run Model. 20. Economic Growth and Rising Living Standards. PART VIII. SHORT-RUN MACROECONOMICS. 21. Economic Fluctuations. 22. The Short-Run Macro Model. PART IX. MONEY, PRICES, AND THE MACROECONOMY. 23. The Banking System and the Money Supply. 24. The Money Market and the Interest Rate. 25. Aggregate Demand and Aggregate Supply. PART X. MACROECONOMIC POLICY. 26. Inflation and Monetary Policy. 27. Fiscal Policy: Taxes, Spending, and the Federal Budget. 28. Exchange Rates and Macroeconomic Policy.