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Economics, 2nd edition

Published by Pearson (September 18, 2020) © 2021

  • Daron Acemoglu Massachusetts Institute of Technology
  • David Laibson Harvard University
  • John List University of Chicago
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Economics presents real economic questions and data to help you learn about the world around you. The text uses themes of optimization, equilibrium, and empiricism to not only illustrate the power of simple economic ideas, but also to explain and predict what's happening in today's society.

In the 2nd Edition, each chapter begins with an empirical, relevant question that is later answered using data in the Evidence-Based Economics feature. As a result of the text's practical emphasis, you'll learn to apply economic principles to guide the decisions you make in your own daily life.

PART I: INTRODUCTION TO ECONOMICS

1. The Principles and Practice of Economics

2. Economic Methods and Economic Questions

3. Optimization: Doing the Best You Can

4. Demand, Supply, and Equilibrium

 

PART II: FOUNDATIONS OF MICROECONOMICS

5. Consumers and Incentives

6. Sellers and Incentives

7. Perfect Competition and the Invisible Hand

8. Trade

9. Externalities and Public Goods

10. The Government in the Economy: Taxation and Regulation

11. Markets for Factors of Production

 

PART III: MARKET STRUCTURE

12. Monopoly

13. Game Theory and Strategic Play

14. Oligopoly and Monopolistic Competition

 

PART IV: EXTENDING THE MICROECONOMIC TOOLBOX

15. Trade-offs Involving Time and Risk

16. The Economics of Information

17. Auctions and Bargaining

18. Social Economics

 

PART V: INTRODUCTION TO MACROECONOMICS

19. The Wealth of Nations: Defining and Measuring Macroeconomic Aggregates

20. Aggregate Incomes

 

PART VI: LONG-RUN GROWTH AND DEVELOPMENT

21. Economic Growth

22. Why Isn’t the Whole World Developed?

 

PART VII: EQUILIBRIUM IN THE MACROECONOMY

23. Employment and Unemployment

24. Credit Markets

25. The Monetary System

 

PART VIII: SHORT-RUN FLUCTUATIONS AND MACROECONOMIC POLICY

26. Short-Run Fluctuations

27. Countercyclical Macroeconomic Policy

 

PART IX: MACROECONOMICS IN A GLOBAL ECONOMY

28. Macroeconomics and International Trade

29. Open Economy Macroeconomics

 

CHAPTERS ON THE WEB

1. Financial Decision Making

2. Economics of Life, Health, and the Environment

3. Political Economy

 

 

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