Michael Parkin is Professor Emeritus in the Department of Economics at the University of Western Ontario, Canada. Professor Parkin has held faculty appointments at Brown University, the University of Manchester, the University of Essex, and Bond University. He is a past president of the Canadian Economics Association and has served on the editorial boards of the American Economic Review and the Journal of Monetary Economics and as managing editor of the Canadian Journal of Economics. Professor Parkin’s research on macroeconomics, monetary economics, and international economics has resulted in over 160

publications in journals and edited volumes, including the American Economic Review, the Journal of Political Economy, the Review of Economic Studies, the Journal of Monetary Economics, and the Journal of Money, Credit and Banking. He became most visible to the public with his work on inflation that discredited the use of wage and price controls. Michael Parkin also spearheaded the movement toward European monetary union. Professor Parkin is an experienced and dedicated teacher of introductory economics.

Brief Table of Contents

1.    What is Economics

2.    The Economic Problem

3.    Demand and Supply

4.    Elasticity

5.    Efficiency and Equity

6.    Government Actions in Markets

7.    Global Markets in Action

8.    Utility and Demand

9.    Possibilities, Preferences, and Choices

10.  Organizing Production

11.  Output and Costs

12.  Perfect Competition

13.  Monopoly

14.  Monopolistic Competition

15.  Oligopoly

16.  Public Choices and Public Goods

17.  Economics of the Environment

18.  Markets for Factors of Production

19.  Economic Inequality

20.  Uncertainty and Information

21.  Measuring GDP and Economic Growth

22.  Monitoring Jobs and Inflation

23.  Economic Growth

24.  Finance, Saving, and Investment

25.  Money, the Price Level, and Inflation

26.  The Exchange Rate and the Balance of Payments

27.  Aggregate Supply and Aggregate Demand

28.  Expenditure Multipliers: The Keynesian Model

29.  U.S. Inflation, Unemployment, and Business Cycle

30.  Fiscal Policy

31.  Monetary Policy

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