Microeconomics, 17th edition

Economics is a living discipline, changing and evolving in response to developments in the world economy and in response to the research of many thousands of economists throughout the world. Through seventeen editions, Economics has evolved with the discipline. Our purpose is to provide students with an introduction to the major issues facing the world's economies, to the methods that economists use to study those issues, and to the policy problems that those issues create.

Hallmark features of this title

• Current. Economic growth, financial crisis pandemics, globalization, and the role of government are pressing issues of the day. Much of our study of economic principles and the Canadian economy has been shaped by these issues. In addition to specific coverage of growth and internationally oriented topics, growth and globalization appear naturally throughout the book in the treatment of many topics once thought to be entirely “domestic.”
• Global. Enormous changes have occurred throughout the world over the last few decades. Flows of trade and investment between countries have risen so dramatically that it is now common to speak of the “globalization” of the world economy. Today it is no longer possible to study any economy without taking into account developments in the rest of the world.
• Free Markets. Has the fundamental role of government changed significantly over the past 40 years? In order to understand the role of government in the economy, students must understand the benefits of free markets as well as the situations that cause markets to fail. They must also understand that governments often intervene in the economy for reasons related more to equity than to efficiency.

New GenAI Study Tool

We’ve heard how important it is for students to use reliable AI tools in responsible and productive ways. To that end, Pearson is focused on creating tools that combine the power of generative AI with trusted Pearson content to provide students with a simplified study experience, delivering on-demand and personalised support that compliments your teaching and aligns with the text you’ve chosen. The Study Tool is available to students who access the Pearson eText on its own or through MyLab.

What can the AI Study Tool do?

• Generate simplified explanations of challenging sections
• Summarize material to help learners focus on key topics and ideas
• Students can ask for multiple choice or short answer questions related to a specific chapter or section to help fill knowledge gaps
• For extra practice, students can also generate flashcards and notes based on their chat interaction with the tool

New and updated features of this title

• As the world shifts to a greater reliance on digital media, it is appropriate that this resource evolves as well. This seventeenth edition is the first fully digital version of Economics. Instructors and students will find that, although the medium has changed, the content is fully consistent with prior editions
• Updated.
  • The COVID-19 pandemic that began in early 2020 was both a health crisis and an economic crisis in most countries. The COVID-19 pandemic affected virtually all aspects of the economy, and it is discussed in many places throughout this book.
  • We have revised and updated the entire text with guidance from feedback from both users and nonusers of the previous editions of this book. We have strived very hard to improve the teachability and readability of the book. 
  • The forces of globalization are with us to stay. In this seventeenth edition, we have done our best to ensure that students are made aware of the world outside Canada and how events elsewhere in the world affect the Canadian economy.