Fifty Years of ECONOMICS
For more than half a century, this book has served as the standard bearer for the teaching of introductory economics in classrooms in America and throughout the world. Each new edition has distilled the best thinking of economists about how markets function and about what society can do to improve people's living standards. But economics has changed profoundly since the first edition of this text appeared in 1948. And because economics is above all a living and evolving organism, the need to need to keep Economics at the frontier in the rapidly evolving world economy affords the authors an exciting opportunity to present the latest thinking of modern economists and to show how the subject can contribute to a more prosperous world.
Our task then is this : We want to present a clear, accurate, and interesting introduction to the principles of modern economics and to the institutions of the American and world economies. Our primary goal is to survey economics, and in doing this we emphasize the basic economic principle that will endure beyond to day's headlines.
Part 1 Basic Concepts
Part 2 Microeconomics : supply, demand, and product
Markets
Part 3 Factor markets : labor, land, and capital
Part 4 Applied microeconomics : International trade,
goverment, and the environment
Part 5 Macroeconomics : the study of economic growth and
business cycles
Part 6 Economic growth and macroeconomic policy
Part 7 Unemployment, Inlation, and economic policy