Foundations of Economics, 9th edition

Published by Pearson (January 19, 2021) © 2021

  • Robin Bade University of Western Ontario
  • Michael Parkin Emeritus of University of Western Ontario
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Foundations of Economics introduces you to economic principles you can use to navigate the financial decisions of your future. Each chapter concentrates on a manageable number of ideas, usually 3 to 4, with each reinforced several times throughout the text. This patient approach helps guide you through unfamiliar terrain and focuses you on the most important concepts and key skills, like reading and interpreting graphs.

The 9th Edition motivates with compelling issues and encourages learning with practice questions, to help you grasp and apply economic principles to the real world.

PART 1: INTRODUCTION

  1. Getting Started
  2. The US and Global Economies
  3. The Economic Problem
  4. Demand and Supply

PART 2: A CLOSER LOOK AT MARKETS

  1. Elasticities of Demand and Supply
  2. Efficiency of Fairness and Markets

PART 3: HOW GOVERNMENTS INFLUENCE THE ECONOMY

  1. Government Actions in Markets
  2. Taxes
  3. Global Markets in Action

PART 4: MARKET FAILURES AND PUBLIC POLICY

  1. Externalities
  2. Public Goods and Common Resources
  3. Private Information and Healthcare Markets

PART 5: A CLOSER LOOK AT DECISION MAKERS

  1. Consumer Choice and Demand
  2. Production and Cost

PART 6: PRICES, PROFITS, AND INDUSTRY PERFORMANCE

  1. Perfect Competition
  2. Monopoly
  3. Monopolistic Competition
  4. Oligopoly

PART 7: INCOMES AND INEQUALITY

  1. Markets for Factors of Production
  2. Economic Inequality

PART 8: MONITORING THE MACROECONOMY

  1. GDP: A Measure Of Total Production and Income
  2. Jobs and Unemployment
  3. The CPI and the Cost of Living

PART 9: THE REAL ECONOMY

  1. Potential GDP and the Natural Unemployment Rate
  2. Economic Growth
  3. Finance, Saving, and Investment

PART 10: THE MONEY ECONOMY

  1. The Monetary System
  2. Money, Interest, and Inflation

PART 11: ECONOMIC FLUCTUATIONS

  1. Aggregate Supply and Aggregate Demand
  2. Aggregate Expenditure Multiplier
  3. The Short-Run Policy Tradeoff

PART 12: MACROECONOMIC POLICY

  1. Fiscal Policy
  2. Monetary Policy
  3. International Finance

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