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Principles of Economics, 13th edition

Published by Pearson (September 15, 2020) © 2020

  • Karl E. Case Wellesley College
  • Ray C. Fair Yale University
  • Sharon E. Oster Yale University
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Reviewers tell us that Case, Fair, and Oster's Principles of Economics is one of the all-time bestselling principles of economics texts because they trust it to be clear, thorough and complete. After reading this text, you'll have a basic understanding of how market economies function, an appreciation for the things they do well, and a sense of things they do poorly.

The 13th Edition features the latest research and new exercises. You'll begin to learn the art and science of economic thinking and start to look at some policy, and even personal decisions, in a different way.

PART 1: INTRODUCTION TO ECONOMICS

  1. The Scope and Method of Economics
  2. The Economic Problem: Scarcity and Choice
  3. Demand, Supply, and Market Equilibrium
  4. Demand and Supply Applications
  5. Elasticity

PART 2: THE MARKET SYSTEM

  1. Household Behavior and Consumer Choice
  2. The Production Process: The Behavior of Profit-Maximizing Firms
  3. Short-Run Costs and Output Decisions
  4. Long-Run Costs and Output Decisions
  5. Input Demand: The Labor and Land Markets
  6. Input Demand: The Capital Market and the Investment Decision
  7. General Equilibrium and the Efficiency of Perfect Competition

PART 3: MARKET IMPERFECTIONS AND THE ROLE OF GOVERNMENT

  1. Monopoly and Antitrust Policy
  2. Oligopoly
  3. Monopolistic Competition
  4. Externalities, Public Goods, and Common Resources
  5. Uncertainty and Asymmetric Information
  6. Income Distribution and Poverty
  7. Public Finance: The Economics of Taxation

PART 4: CONCEPTS AND PROBLEMS IN MACROECONOMICS

  1. Introduction to Macroeconomics
  2. Measuring National Output and National Income
  3. Unemployment, Inflation, and Long-Run Growth

PART 5: THE CORE OF MACROECONOMIC THEORY

  1. Aggregate Expenditure and Equilibrium Output
  2. The Government and Fiscal Policy
  3. Money, the Federal Reserve, and the Interest Rate
  4. The Determination of Aggregate Output, the Price Level, and the Interest Rate
  5. Policy Effects and Cost Shocks in the AS/AD Model
  6. The Labor Market in the Macroeconomy

PART 6: FURTHER MACROECONOMICS ISSUES

  1. Financial Crises, Stabilization, and Deficits
  2. Household and Firm Behavior in the Macroeconomy: A Further Look
  3. Long-Run Growth
  4. Alternative Views in Macroeconomics

PART 7: THE WORLD ECONOMY

  1. International Trade, Comparative Advantage, and Protectionism
  2. Open-Economy Macroeconomics: The Balance of Payments and Exchange Rates
  3. Economic Growth in Developing Economies

PART 8: METHODOLOGY

  1. Critical Thinking about Research

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