Principles of economics /
Edited by Joshua Gans ... [et al.]
- 4th ed.
- South Melbourne, Vic. : Cengage Learning, 2009.
- xli, 893 p. : ill. (some col.), ports. ; 26 cm.
Previous ed.: 2005.
Includes bibliographical references and index.
Part 1: Introduction -- 1. Ten lessons from economics -- 2. Thinking like an economist -- 3. Interdependence and the gains from trade -- Part 2: Supply and demand I: How markets work -- 4. The market forces of supply and demand -- 5. Elasticity and its application -- 6. Supply, demand and government policies -- Part 3: Supply and demand II: Markets and welfare -- 7. Consumers, producers and the efficiency of markets -- 8. Application: The costs of taxation -- 9. Application: International trade -- Part 4: The economics of the public sector -- 10. Externalities -- 11. Public goods and common resources -- 12. The design of the tax system -- Part 5: Firm behaviour and the organisation of industry -- 13. The costs of production -- 14. Firms in competitive markets -- 15. Monopoly -- 16. Business strategy -- 17. Competition policy -- 18. Monopolistic competition -- Part 6: The economics of labour markets -- 19. The markets for the factors of production -- 20. Earnings, unions and discrimination -- 21. Income inequity and poverty -- Part 7: Topics for further study -- 22. The theory of consumer choice -- 23. Frontiers of microeconomics -- Part 8: The data of macroeconomics -- 24. Measuring a nation's income -- 25. Measuring the cost of living -- Part 9: The real economy in the long run -- 26. Production and growth -- 27. Saving, investment and the financial system -- 28. The natural rate of unemployment -- Part 10: Money and prices in the long run -- 29. The monetary system -- 30. Inflation: Its causes and costs -- Part 11: The macroeconomics of open economies -- 31. Open-economy macroeconomics: Basic concepts -- 32. A macroeconomic theory of the open economy -- Part 12: Short-run economic fluctuations -- 33. Aggregate demand and aggregate supply -- 34. The influence of monetary and fiscal policy on aggregate demand -- 35. The short-run trade-off between inflation and unemployment -- Part 8: Final thoughts -- 36. Five debates over macroeconomic policy.
"Showing the power of economic tools and the importance of economic ideas, this forth edition of Principles of Economics continues to focus on what is truly important for students to learn in their first economics course. With an engaging approach to the study of the economy, the text returns to applications and policy questions as often as possible, encouraging students to relate ecomonic theory to their own experiences. Designed for students in Australia and New Zealand, this new edition incorporates contemporary topics such as global warming, outsourcing, work quality, poverty and immigration, the effects of the US sub-prime market, increased trading with China and India, the RBA, interest rates and monetary policy. Comprehensively revised and updated, the text enables students to understand the important foundations of economic analysis in a practical real-world context."--Publisher's website.