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This book presents economics as a serious, lively, and evolving science. Its goal is to help the student to develop the "economic way of thinking" and to gain insights into how the economy works and how it might be made to work better. The text illustrates principles with examples that are selected to hold the student's interests and to make the subject lively. New ideas, such as dynamic comparative advantage, game theory, the modern theory of the firm, and public choice theory, are explained with familiar core ideas and tools. Parkin's goal is to make economics as accessible as possible yet to provide a thorough and complete coverage of the subject, not a slimmed-down or over-simplified selection. With the still unmatched combination of text and technology products provided by the Fifth Edition, Parkin reaches a notably wide range of students and is a recognized leader in the principles of microeconomic course.
Table of Contents
What is Economics?
Making and Using Graphs
The Economic Problem
How Markets Work
Demand and Supply
Efficiency and Equity
Markets in Action
Utility and Demand
Possibilities, Preferences, and Choices
Firms And Markets
Output and Costs
Monopolistic Competition and Oligopoly
Demand and Supply in Resource Markets
Inequality, Redistribution, and Health Care
Market Failure And Government
Market Failure and Public Choice
Regulation and Antitrust Law
Externalities, the Environment, and Knowledge
Uncertainty and Information
The Global Economy
Trading with the World
Table of Contents provided by Publisher. All Rights Reserved.