Economics, 9th edition

Published by Pearson (August 6, 2024) © 2025

  • Glenn Hubbard Columbia University
  • Anthony Patrick O'Brien Lehigh University

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ISBN-13: 9780138206369
Economics
Published 2024

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Economics makes economic principles relevant by demonstrating how businesses, individuals and policymakers use them to make decisions every day.

The 9th Edition incorporates recent developments in US and world economies through new real-world business and policy examples. No matter your career path, whether you become an artist, banker, engineer or social worker, you’ll benefit from understanding and applying economic principles.

PART 1: INTRODUCTION

  1. Economics: Foundations and Models
    • Appendix: Using Graphs and Formulas
  2. Trade-offs, Comparative Advantage, and the Market System
  3. Where Prices Come From: The Interaction of Demand and Supply
  4. Economic Efficiency, Government Price Setting, and Taxes
    • Appendix: Quantitative Demand and Supply Analysis

PART 2: MARKETS IN ACTION: POLICY AND APPLICATIONS

  1. Externalities, Environmental Policy, and Public Goods
  2. Elasticity: The Responsiveness of Demand and Supply
  3. The Economics of Health Care

PART 3: FIRMS IN THE DOMESTIC AND INTERNATIONAL ECONOMIES

  1. Firms, the Stock Market, and Corporate Governance
    • Appendix: Present Value
    • Online Appendix: Tools to Analyze Firms’ Financial Information
  2. Comparative Advantage and the Gains from International Trade

PART 4: MICROECONOMIC FOUNDATIONS: CONSUMERS AND FIRMS

  1. Consumer Choice and Behavioral Economics
    • Appendix: Using Indifference Curves and Budget Lines to Understand Consumer Behavior
  2. Technology, Production, and Costs
    • Online Appendix: Using Isoquants and Isocost Lines to Understand Production and Cost

PART 5: MARKET STRUCTURE AND FIRM STRATEGY

  1. Firms in Perfectly Competitive Markets
  2. Monopolistic Competition: The Competitive Model in a More Realistic Setting
  3. Oligopoly: Firms in Less Competitive Markets
  4. Monopoly and Antitrust Policy

PART 6: LABOR MARKETS, PUBLIC CHOICE, AND THE DISTRIBUTION OF INCOME

  1. The Markets for Labor and Other Factors of Production
  2. Public Choice, Taxes, and the Distribution of Income

PART 7: MACROECONOMIC FOUNDATIONS AND LONG-RUN GROWTH

  1. GDP: Measuring Total Production and Income
  2. Unemployment and Inflation
  3. Economic Growth, the Financial System, and Business Cycles
  4. Long-Run Economic Growth: Sources and Policies

PART 8: SHORT-RUN FLUCTUATIONS

  1. Aggregate Expenditure and Output in the Short Run
    • Appendix: The Algebra of Macroeconomic Equilibrium
  2. Aggregate Demand and Aggregate Supply Analysis
    • Appendix: Macroeconomic Schools of Thought

PART 9: MONETARY AND FISCAL POLICY

  1. Banks, Money, and the Federal Reserve System
  2. Monetary Policy
    • Online Appendix: Money Market and the Fed
  3. Fiscal Policy
    • Online Appendix: A Closer Look at the Multiplier
  4. Inflation, Unemployment, and Federal Reserve Policy

PART 10: THE INTERNATIONAL ECONOMY

  1. Macroeconomics in an Open Economy and the International Financial System
    • Online Appendix: The Gold Standard and the Bretton Woods System

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