9780132994842

For the two-semester principle of economics course. This book is also suitable for all readers interested in economics.

Thoroughly updated, stripped of technical detail where possible, extensively illustrated with well-chosen photographs, enlivened with new applications features that focus on issues at play in today’s world, responsive to the suggestions of reviewers and users, and seamlessly integrated with MyEconLab: These are the hallmarks of this eleventh edition of Economics.

Parkin brings critical issues to the forefront. Each chapter begins with one of today’s key issues, and additional issues appear throughout the chapter to show the real-world applications of the theory being discussed. When the chapter concludes, readers “read between the lines” to think critically about a news article relating to the issue, demonstrating how thinking like an economist can bring a clearer perspective to and deeper understanding of today’s events. Readers will begin to think about issues the way real economists do and learn how to explore difficult policy problems and make more informed decisions in their own economic lives.

Parkin is so committed to currency that he uploads news articles almost daily to MyEconLab^®, the online assessment and tutorial system that accompanies the text. Assessment questions based on the Economics in the News articles are uploaded periodically so that instructors can assign recent articles within MyEconLab. Note: If you are purchasing the standalone text or electronic version, MyEconLab does not come automatically packaged with the text. To purchase MyEconLab, please visit: www.myeconlab.com or you can purchase a package of the physical text + MyEconLab by searching the Pearson web site. MyEconLab is not a self-paced technology and should only be purchased when required by an instructor.

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.

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

What is included with this book?

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Economics

Economics

0132994844

Summary

Author Biography

Table of Contents

Supplemental Materials