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Analyse global events like a modern practitioner

Economics, 14th edition, by Michael Parkin, teaches you how to understand and think about current events like an economist. Develop critical thinking skills with the help of diagrams and discussion material in chapter openings and endings. This text encourages you to analyse issues in economics with an emphasis on real-world application and path-breaking technology throughout its pages.

With the latest policy, data and discussions surrounding global issues, this text will enable you to think like an economist.

PART 1: INTRODUCTION

1. What is Economics?
2. The Economic Problem

PART 2: HOW MARKETS WORK

3. Demand and Supply
4. Elasticity
5. Efficiency And Equity
6. Government Actions in Markets
7. Global Markets in Action

PART 3: HOUSEHOLDS’ CHOICES

8. Utility and Demand
9. Possibilities, Preferences, and Choices

PART 4: FIRMS AND MARKETS

10. Organizing Production
11. Output and Costs
12. Perfect Competition
13. Monopoly
14. Monopolistic Competition
15. Oligopoly

PART 5: MARKET FAILURE AND GOVERNMENT

16. Public Choices, Public Goods, and Healthcare
17. Externalities

PART 6: FACTOR MARKETS, INEQUALITY, AND UNCERTAINTY

18. Markets for Factors of Production
19. Economic Inequality
20. Uncertainty and Information

PART 7: MONITORING MACROECONOMIC PERFORMANCE

21. Monitoring the Value of Production: GDP
22. Monitoring Jobs and Inflation

PART 8: MACROECONOMIC TRENDS

23. Economic Growth
24. Finance, Saving, and Investment
25. Money, the Price Level, and Inflation
26. The Exchange Rate and the Balance of Payments

PART 9: MACROECONOMIC FLUCTUATIONS

27. Aggregate Supply and Aggregate Demand
28. Expenditure Multipliers
29. The Business Cycle, Inflation, and Deflation

PART 10: MACROECONOMIC POLICY

30. Fiscal Policy
31. Monetary Policy