Questions that drive interest, applications that illustrate concepts, and the tools to test and solidify comprehension.
Students come into their first Economics course thinking they will gain a better understanding of the economy around them. Unfortunately, they often leave with many unanswered questions. To ensure students actively internalize economics, O'Sullivan/Sheffrin/Perez use chapter-opening questions to spark interest on important economic concepts, applications that vividly illustrate those concepts, and chapter-ending tools that test and solidify understanding.
Table of Contents
I. INTRODUCTION AND KEY PRINCIPLES
1. Introduction: What is Economics?
2. Key Principles of Economics
3. Exchange and Markets
4. Demand, Supply, and Market Equilibrium
II. A CLOSER LOOK AT DEMAND AND SUPPLY
5. Elasticity: A Measure of Responsiveness
6. Market Efficiency and Government Intervention
7.Consumer Choice: Utility Theory and Insights from Neuroscience
III. MARKET STRUCTURES AND PRICING
8. Production Technology and Cost
9. Perfect Competition
10. Monopoly and Price Discrimination
11. Market Entry and Monopolistic Competition
12. Oligopoly and Strategic Behavior
13. Controlling Market Power: Antitrust and Regulation
IV. EXTERNALITIES AND INFORMATION
14. Imperfect Information: Adverse Selection and Moral Hazard
15. Public Goods and Public Choice
16. External Costs and Environmental Policy
V. THE LABOR MARKET AND INCOME DISTRIBUTION
17. The Labor Market and the Distribution of Income
VI. THE INTERNATIONAL ECONOMY
18. International Trade and Public Policy
19. The World of International Finance
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