Economics plus MyEconLab plus eBook 2-semester Student Access Kit

KEY MESSAGE:When asked to describe this text, most Lipsey readers use the same word:precise.The authors steer away from glossing over subjects when presenting economic ideas; rather, they offer a patient explanation of the concept and back it up with the latest research and data. Taken separately, neither theory nor data alone can give readers a true understanding of the idea, but when combined these elements give students a complete view of economics in the real world. What is Economics?:Economic Issues and Concepts; How Economists Work.An Introduction to Demand and Supply:Demand, Supply, and Price; Elasticity; Markets in Action.Consumers and Products:Consumer Behavi∨ Producers in the Short Run; Producers in the Long Run.Market Structure and Efficiency:Competitive Markets; Monopoly; Imperfect Competition and Strategic Behavi∨ Economic Efficiency and Public Policy.Factor Markets:How Factor Markets Work; Labor Markets; Capital and the Interest Rate.Government in the Market Economy:Market Failures and Government Intervention; The Economics of Environmental Protection; Taxation and Public Expenditure.An Introduction to Macroeconomics:What Macroeconomics Is All About; The Measurement of National Income.The Economy in the Short Run:The Simplest Short-Run Macro Model; Adding Government and Trade to the Simple Macro Model; Output and Prices in the Short Run.The Economy in the Long Run:From the Short Run to the Long Run: The Adjustment of Factor Prices; The Difference Between Short-Run and Long-Run Macroeconomics; Long-Run Economic Growth.Money, Banking, and Monetary Policy:Money and Banking; Money, Interest Rates, and Economic Activity; Monetary Policy.Macroeconomic Problems:Inflation; Unemployment; Government Debt and Deficits.The Global Economy:The Gains from International ™ Trade Policy; Exchange Rates and the Balance of Payments. For all readers interested in economics.

Part I. What Is Economics? Chapter 1. Economic Issues and Concepts Chapter 2. How Economists Work Part II. An Introduction to Demand and Supply Chapter 3. Demand, Supply, and Price Chapter 4. Elasticity Chapter 5. Markets in Action Part III. Consumers and Producers Chapter 6. Consumer Behavior Chapter 7. Producers in the Short Run Chapter 8. Producers in the Long Run Part IV. Market Structure and Efficiency Chapter 9. Competitive Markets Chapter 10. Monopoly, Cartels, and Price Discrimination Chapter 11. Imperfect Competition and Strategic Behavior Chapter 12. Economic Efficiency and Public Policy Part V. Factor Markets Chapter 13. How Factor Markets Work Chapter 14. Labor Markets Chapter 15. Interest Rates and the Capital Market Part VI. Government in the Market Economy Chapter 16. Market Failures and Government Intervention Chapter 17. The Economics of Environmental Protection Chapter 18. Taxation and Public Expenditure Part VII. An Introduction to Macroeconomics Chapter 19. What Macroeconomics Is All About Chapter 20. The Measurement of National Income Part VIII. The Economy in the Short Run Chapter 21. The Simplest Short-Run Macro Model Chapter 22. Adding Government and Trade to the Simple Macro Model Chapter 23. Aggregate Supply and Aggregate Demand in the Short Run Part IX. The Economy in the Long Run Chapter 24. From the Short Run to the Long Run: The Adjustment of Factor Prices Chapter 25. The Difference Between Short-Run and Long-Run Macroeconomics Chapter 26. Long-Run Economic Growth Part X. Money, Banking, and Monetary Policy Chapter 27. Money and Banking Chapter 28. Money, Interest Rates, and Economic Activity Chapter 29. Monetary Policy Part XI. Macroeconomic Problems and Policies Chapter 30. Inflation and Disinflation Chapter 31. Unemployment Fluctuations and the NAIRU Chapter 32. Government Debt and Deficits Part XII. The United States in the Global Economy Chapter 33. The Gains from International Trade Chapter 34. Trade Policy Chapter 35. Exchange Rates and the Balance of Payments Glossary Mathematical Notes Time Line of Great Economists Index Credits