Economics,
13th Edition

An Introduction to Economics.
Part I: ECONOMICS: THE SCIENCE OF SCARCITY.
1. What Economics Is About.
Appendix A: Working with Diagrams.
Appendix B: Should You Major in Economics?
2. Production Possibilities Frontier Framework.
3. Supply and Demand: Theory.
4. Prices: Free, Controlled, and Relative.
5. Supply, Demand, and Price: Applications.
Macroeconomics.
Part II: MACROECONOMIC FUNDAMENTALS.
6. Macroeconomic Measurements, Part I: Prices and Unemployment.
7. Macroeconomic Measurements, Part II: GDP and Real GDP.
Part III: MACROECONOMIC STABILITY, INSTABILITY, AND FISCAL POLICY.
8. Aggregate Demand and Aggregate Supply.
9. Classical Macroeconomics and the Self-Regulating Economy.
10. Keynesian Macroeconomics and Economic Instability: A Critique of the Self-Regulating Economy.
11. Fiscal Policy and the Federal Budget.
Part IV: MONEY, THE ECONOMY, AND MONETARY POLICY.
12. Money, Banking and the Financial System.
13. The Federal Reserve System.
Appendix C: The Market for Reserves (or the Federal Funds Market).
14. Money and the Economy.
15. Monetary Policy.
Appendix D: Bond Prices and Interest Rates.
Part V: EXPECTATIONS AND GROWTH.
16. Expectations Theory and the Economy.
17. Economic Growth: Resources, Technology, Ideas, and Institutions.
Part VI: GOVERNMENT AND THE ECONOMY.
18. Debates in Macroeconomics Over the Role and Effects of Government.
Microeconomics.
Part VII: MICROECONOMIC FUNDAMENTALS.
19. Elasticity.
20. Consumer Choice: Maximizing Utility and Behavioral Economics.
Appendix E: Budget Constraint and Indifference Curve Analysis.
21. Production and Costs.
Part VII: PRODUCT MARKETS AND POLICIES.
22. Perfect Competition.
23. Monopoly.
24. Monopolistic Competition, Oligopoly, and Game Theory.
25. Government and Product Markets: Antitrust and Regulation.
Part IX: FACTOR MARKETS AND RELATED ISSUES.
26. Factor Markets: With Emphasis on the Labor Market.
27. Wages, Unions, and Labor.
28. The Distribution of Income and Poverty.
29. Interest, Rent, and Profit.
Part X: MARKET FAILURE, PUBLIC CHOICE, AND SPECIAL-INTEREST-GROUP POLITICS.
30. Market Failure: Externalities, Public Goods, and Asymmetric Information.
31. Public Choice and Special-Interest-Group Politics.
Part XI: ECONOMICS THEORY-BUILDING AND EVERYDAY LIFE.
32. Building Theories to Explain Everyday Life: From Observations to Questions to Theories to Predictions.
The Global Economy.
Part XII: INTERNATIONAL ECONOMICS AND GLOBALIZATION.
33. International Trade.
34. International Finance.
Web Chapters.
35. The Economic Case For and Against Government: Five Topics Considered.
36. Stocks, Bonds, Futures, and Options.

• Roger A. Arnold

  Dr. Roger Arnold is at California State University San Marcos, where his fields of specialization are general microeconomic theory and monetary theory. Dr. Arnold earned his B.S. in economics from the University of Birmingham in England. He received his Ph.D. in economics from Virginia Tech.

• NEW "HEAR WHAT AND HOW THE ECONOMIST THINKS" FEATURES GIVES STUDENTS INSIGHT INTO HOW ECONOMISTS THINK ABOUT VARIOUS TOPICS. Found in all chapters, this intriguing feature virtually places a "thought caption" above the economist’s head as he or she thinks "out loud" in response to what people say about a given economics topic, or what her or she reads in the newspaper or hears on a radio show.

• "DOES IT MATTER TO YOU IF . . . ?" CONNECTS TEXT CONTENT TO REAL LIFE. Students see how the concepts they read in the book -- such as market structures, interest rates, aggregate demand and supply, monetary and fiscal policy, regulation and antitrust -- directly affect them. Students examine topics, such as "Does It Matter to You If You Are Efficient or Not?" or "Does It Matter if the Economy is at One Point on the PPF Instead of Another?" or "Does It Matter if Something You Buy Is Taxed or Subsidized?" They see how it certainly does matter.

• "QUESTIONS TO ANSWER BEFORE GOING TO CLASS" PREPARE STUDENTS FOR EFFECTIVE PARTICIPATION IN CLASS. Students answer insightful questions after reading the chapter, but before attending class, which prepares them to contribute with meaningful classroom discussion.

• LEADING Aplia DIGITAL MANAGEMENT SYSTEM ENCOURAGES INTERACTIVE LEARNING. Aplia offers comprehensive interactive economic problem sets, analyses, tutorials, experiments and critical-thinking exercises that require students to take an active role in the learning process. Based on discovery learning, the system helps students improve their economic understanding without creating extra work for you, the instructor. The system automatically grades and records homework and works with any learning management system.

• VIRTUALLY ENDLESS CUSTOMIZATION CHOICES OFFER ULTIMATE TEACHING FLEXIBILITY. Chapters can be rearranged; online chapters can be customized in print; and you have the option to add any topic, including your own research and notes or specialized topics drawn from the Cengage Economics Issues database. Aplia's™ customization is fully integrated, giving your students hands-on application opportunities without adding to your workload.

• ONLY BOOK THAT DEVOTES ENTIRE CHAPTER TO HOW ECONOMISTS BUILD THEORIES. Chapter 33 is a different kind of economics principles chapter. It explains how economists progress from making observations and developing questions to answer to building theories and making predictions based on those theories. This unique chapter discusses such topics as birthrates in different countries, ethical codes in small towns and big cities, crime, house prices and school districts, health care, and giving and receiving gifts.

• “ECONOMICS 24/7” FEATURE ILLUSTRATES THE PRACTICAL RELEVANCE OF KEY CONCEPTS. This helpful feature explores numerous timely issues that can be explained through economic analysis. For example, students examine why there might be "shortages" on freeways, what price has to do with being late to class, what studying has to do with one’s production possibilities frontier, and what might have caused grade inflation. Readers learn to look for economic forces at work as they study the principles behind those forces.

• "DOES IT MATTER TO YOU IF...?" RELATES THE BOOK’S TOPICS TO EVERYDAY CONCERNS. This features demonstrates how the topics that students are reading about, including market structures, interest rates, aggregate demand and supply, monetary and fiscal policy, regulation and antitrust – directly affect them. For instance, students examine "Does It Matter to You …If You Are Efficient or Not?", or …"If the Economy is at One Point on the PPF Instead of Another?", or …"If Something You Buy Is Taxed or Subsidized?" and they see that it certainly does matter.

• QUESTIONS TO ANSWER BEFORE GOING TO CLASS HELPS STUDENTS PREPARE FOR A MEANINGFUL, INTERACTIVE CLASS PERIOD. This feature gives students an opportunity to answer 15–25 questions based on their chapter text reading. Students realize how prepared they are for the upcoming class lectures.

• "WHAT’S WRONG WITH THIS DIAGRAM?" AND RELATED FEATURES HELP STUDENTS MASTER DIAGRAMS FOR ECONOMICS. This feature, along with "Working With Diagrams" and "Progression Graphs," help students master the "ins and outs" of reading and understanding all of the diagrams found in today’s economics principles course.

• "HEAR HOW AND WHAT THE ECONOMIST THINKS" GIVES STUDENTS A GLIMPSE INTO THE THINKING OF ECONOMISTS AS THEY “THINK THROUGH” VARIOUS TOPICS. These features as similar to a "thought caption" above the economist’s head as he or she thinks through something someone has said about an economics topic, or considers a topic read in a newspaper or heard on a television newscast.

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