9780072898408

Throughout DiscoverEcon you will notice expanded exercises, interactive graphs, and tutorials. You will also notice 25 new videos hosted by Paul Solman, Economics Correspondent for The Lehrer NewsHour on PBS. Solman developed these videos on DVD specifically for Principles of Economics to further illustrate and reinforce basic economic concepts from the text. These videos are linked to DiscoverEcon topics to let you view the videos as you work through each DiscoverEcon chapter. Book jacket.

Campbell R. McConnell: University of Nebraska Stanley L. Brue: Pacific Lutheran University

List of Key Graphs

xvi

Preface

xvii

Contributors

xxiii

PART 1 AN INTRODUCTION TO ECONOMICS AND THE ECONOMY

To the Student

2

(1)

The Nature and Method of Economics

3

(19)

The Economizing Problem

22

(20)

Understanding Individual Markets: Demand and Supply

42

(19)

Pure Capitalism and the Market System

61

(16)

The Mixed Economy: Private and Public Sectors

77

(23)

The United States in the Global Economy

100

(24)

PART 2 MICROECONOMICS OF PRODUCT MARKETS

Demand and Supply: Elasticities and Applications

124

(20)

Consumer Behavior and Utility Maximization

144

(20)

The Costs of Production

164

(23)

Pure Competition

187

(26)

Pure Monopoly

213

(22)

Monopolistic Competition and Oligopoly

235

(26)

Technology, R&D, and Efficiency

261

(23)

PART 3 MICROECONOMICS OF RESOURCE MARKETS

The Demand for Resources

284

(17)

Wage Determination

301

(22)

Rent, Interest, and Profit

323

(17)

PART 4 MICROECONOMICS OF GOVERNMENT

Government and Market Failure: Public Goods, Externalities, and Information Problems

340

(23)

Public Choice Theory and Taxation

363

(21)

PART 5 MICROECONOMIC ISSUES AND POLICIES

Antitrust Policy and Regulation

384

(20)

Agriculture: Economics and Policy

404

(17)

Income Inequality and Poverty

421

(20)

The Economics of Health Care

441

(18)

Labor Market Issues: Unionism, Discrimination, Immigration

459

(25)

PART 6 INTERNATIONAL ECONOMICS AND THE WORLD ECONOMY

International Trade

484

(25)

Exchange Rates, The Balance of Payments, and Trade Deficits

509

(23)

Transition Economies: Russia and China

532

Glossary

G-1

Index

I-1

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Microeconomics : Principles, Problems, and Policies

Microeconomics : Principles, Problems, and Policies

0072898402

Summary

Author Biography

Table of Contents

Supplemental Materials