Principles of Economics

Betsey Stevenson and Justin Wolfers present a new synthesis of economic principles for a new generation of students. Their focus on useful economics employs compelling explanations and real-life examples to help students develop economic intuition and apply it to everyday decisions. The authors provide a fresh take on a wide range of principles topics and develop macroeconomics from its microfoundations in an engaging presentation that has drawn enthusiastic reviews from hundreds of instructors and thousands of students in pre-publication class-tests. This text is available in Achieve, a new, integrated online learning system that features powerful tools for each step of the Learning Path: pre-class, in-class, and post-class.

Preface
A Quick Review of Math and Graphing
PART I - Foundations of Economics
1 The Core Principles of Economics
2 Demand: Thinking Like a Buyer
3 Supply: Thinking Like a Seller
4 Where Supply Meets Demand
PART II - Analyzing Markets
5 Elasticity: Measuring Responsiveness
6 When Governments Intervene In Markets
7 Welfare and Efficiency
8 The Gains From Trade
PART III - Applications and Policy Issues
9 International Trade
10 Externalities
11 The Labor Market
12 Wages, Workers, and Management
13 Inequality, Social Insurance and Redistribution
PART IV - Market Structure and Business Strategy
14 Market Structure and Market Power
15 Entry, Exit, and Long Run Profits
16 Business Strategy
17 Sophisticated Pricing Strategies
18 Game Theory & Strategic Choices
PART V - Advanced Decisions
19 Decisions under Uncertainty
20 Decisions with Private Information
PART VI - Economic Growth in the Long Run
21 Sizing Up the Economy
22 Economic Growth
23 Unemployment
24 Inflation
PART VII - Micro Foundations of Macroeconomics
25 Consumption and Saving
26 Investment
27 The Financial Sector
28 International Finance and the Exchange Rate
PART VIII - The Business Cycle
29 Business Cycles
30 IS-MP Analysis: Interest Rates and Output
30A Aggregate Expenditure and the Multiplier
31 The Phillips Curve
32 The Fed Model: Linking Interest Rates, Output, and Inflation
33 Aggregate Demand and Aggregate Supply
PART IX - Macroeconomic Policy
34 Monetary Policy
35 Government Spending, Taxes, and Fiscal Policy

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