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PART 1. INTRODUCTION
1. Ten Principles of 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 PUBLIC SECTOR 10. Externalities. 11. Public Goods and Common Resources. 12. The Design of the Tax System. PART 5. FIRM BEHAVIOR AND THE ORGANIZATION OF INDUSTRY 13. The Costs of Production. 14. Firms in Competitive Markets. 15. Monopoly. 16. Oligopoly. 17. Monopolistic Competition. PART 6. THE ECONOMICS OF LABOR MARKETS 18. The Markets for the Factors of Production. 19. Earnings and Discrimination. 20. Income Inequality and Poverty. PART 7. TOPICS FOR FURTHER STUDY 21. The Theory of Consumer Choice. 22. Frontiers in Microeconomics. PART 8. THE DATA OF MACROECONOMICS 23. Measuring a Nation’s Income. 24. Measuring the Cost of Living. PART 9. THE REAL ECONOMY IN THE LONG RUN 25. Production and Growth. 26. Saving, Investment, and the Financial System. 27. The Basic Tools of Finance. 28. Unemployment and Its Natural Rate. PART 10. MONEY AND PRICES IN THE LONG RUN 29. The Monetary System. 30. Money Growth and Inflation. 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 Tradeoff between Inflation and Unemployment. PART 13. FINAL THOUGHTS 36. Five Debates over Macroeconomic Policy. |
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Contains a wealth of Asian examples, case studies and news articles to make the material more relevant to Asian students. Issues covered include:
- income inequality in Asia - China’s attempt to control the price of grain - externality effect of noise pollution in Bangkok - elasticity of taxi demand in Singapore - repeal of the Rent Control Act in Malaysia and its impact - financial crisis in Asia in 1997?98 - currency boards in Hong Kong and Singapore - Philippine government debt - deflation in Japan - unemployment rate in Singapore The classic “Ten Principles of Economics,” introduced in Chapter One and incorporated throughout the text, help students to reinforce their understanding of key economic principles. A clear, conversational writing style to present economic concepts in a way that is very accessible for students. A quick quiz after each major section allows students to check their comprehension before they move on to the next section. Each chapter ends with a variety of problems and applications to provide students with an opportunity to apply the material that they have learned. |