Principles Of Economics 9th Ed.

Description: This edition has been rewritten to take account of the latest international developments and the core material revised to ensure students have the best possible account of both theory and practice of the subject. The book provides the student with a thorough grounding in all the theoretical components of a first course in economics, supported with world-wide case studies. Learning aids such as chapter summaries, topics for review, discussion questions and a glossary of economic terms all help to guide the student through the course, whilst a lively four-colour text design, and over three hundred annotated figures present information in a stimulating format. A range of ancillary products to accompany the text includes a test bank of revision questions, instructor's manual and set of overhead transparency masters.


Contents: How to Use This Book; Economic Issues and Concepts; Methods; Part I: Introduction to the market economy; Dem and, Supply and Price; Elasticity of Demand and Supply; Price Theory in Action; Part II: Consumers and producers; What Determines Demand? I: Marginal Utility Theory; What Determines Demand? II: Indifference Theory; Firms, cost, and profits; Perfect Competition; Monopoly; Imperfect Competition; Risk and Uncertainty; Consumer and Producer Theory in Action; Part III: How income is earned; How Income is Generated; The Income of Labour; Capital, Land, and Natural Resources; Factor Market Theory in Action; Part IV: The government in the economy; Market Success and Market Failure; Government Success and Government Failure; Part V: Modelling the economy as a whole; Macroeconomics and Measurement; A Basic Model of the Determination of GDP; GDP in an Open Economy With Government; GDP and the Price Level in the Short Run; GDP and the Price Level in the Long Run; Part VI: Macro policy in a monetary economy; Macro Policy in a Monetary Economy; The Role of Money in Macroeconomics; Monetary and Fiscal Policy and the Business Cycle; The Balance of Payments and Exchange Rates; Macroeconomic Policy in an Open Economy; Part VII: Global economic issues; Inflation; Employment and Unemployment; Economic Growth; Growth in Developing Countries; International Trade; Global Macroeconomics in Action.