Economics GE

Description

Teach your students to think like economists.

Economics 14th edition is an intuitive text that teaches your students to think critically on global events, demonstrating how thinking like an economist gives a clearer understanding of current events. With an emphasis on real-world application, this text will give your students the skills to succeed.

Features

Hallmark Features

Demonstrate to your students real-world applications of their knowledge
 'Economics in Action' and 'Economics in the News' boxes have students link models and chapter tools to the economic world around them.
 Interviews with Economists feature leading economists from diverse backgrounds who share what inspired them to pursue a career in economics.
Help your students understand and retain key concepts
 Worked Problems, including questions, solutions and key figures, promote active learning
 In-text Review Quizzes reinforce concepts and test students' knowledge of the topics just discussed.
 Animated graphs help students grasp concepts such as shifts in curves, movements along curves and changes in equilibrium values.

New to this Edition

New and Updated Features

Teach your students the impact of a changing microeconomic market
 A new section in Chapter 1 explores the under-representation of women and minorities in economics.
 6 chapters now examine COVID-19, including its effects on the production possibilities frontier (Ch. 2) and on the hand sanitizer market (Ch. 3), movie streaming in the pandemic (Ch. 8), and more.
 Added discussions and examples include analysis of a $15 minimum wage (Ch. 6) and of the effects of a tax on sugary drinks (Ch. 9), a look at Amazon's distribution centre decisions (Ch. 11), and more.

Teach your students the impact of ac hanging macroeconomic market
 Updates to all chapters to now include the latest data on the labor market and price indexes (Ch. 22), economic growth (Ch. 23), interest rates and loanable funds (Ch. 24), the exchange rate and balance of payments (Ch. 26), and more.
 8 chapters now analyse news reports about the macro effects of COVID-19 and the policy responses it triggered, including measuring unemployment (Ch. 22), inventories in the Covid recession (Ch. 28), post-Covid inflation fears (Ch. 29), and more.
 A Host of updates include an explanation of the Fed's new operating procedures, the growth of 'fintec' in financial markets (Ch. 24), and currency manipulation (Ch. 26).

PART 1: INTRODUCTION
What is Economics?
The Economic Problem

PART 2: HOW MARKETS WORK
Demand and Supply
Elasticity
Efficiency And Equity
Government Actions in Markets
Global Markets in Action

PART 3: HOUSEHOLDS' CHOICES
Utility and Demand
Possibilities, Preferences, and Choices

PART 4: FIRMS AND MARKETS
Organizing Production
Output and Costs
Perfect Competition
Monopoly
Monopolistic Competition
Oligopoly

PART 5: MARKET FAILURE AND GOVERNMENT
Public Choices, Public Goods, and Healthcare
Externalities

PART 6: FACTOR MARKETS, INEQUALITY, AND UNCERTAINTY
Markets for Factors of Production
Economic Inequality
Uncertainty and Information

PART 7: MONITORING MACROECONOMIC PERFORMANCE
Monitoring the Value of Production: GDP
Monitoring Jobs and Inflation

PART 8: MACROECONOMIC TRENDS
Economic Growth
Finance, Saving, and Investment
Money, the Price Level, and Inflation
The Exchange Rate and the Balance of Payments

PART 9: MACROECONOMIC FLUCTUATIONS
Aggregate Supply and Aggregate Demand
Expenditure Multipliers
The Business Cycle, Inflation, and Deflation

PART 10: MACROECONOMIC POLICY
Fiscal Policy
Monetary Policy