Description

Providing an undiluted presentation of economic principles and models, this text will help you to think like an economist.

It covers the most important central ideas, topics and economic theories that all business students and non-economic majors should understand with the same rigour found in a specialist economics text.

 

Features

• A focus on the economic way of thinking – to helpstudents to think like an economist, the text focuses on and repeatedly uses the central ideas.
• Explains the issues– the text helps students to understand the issues and problems of our time by using the central ideas and tools of economics.
• Flexible chapter arrangement will allow you to teach economics your way - whether this be a traditional blend of theory and policy, or a fast track through either theory or policy issues.
• Real world data and examples – used in Economics in Action boxes, Reading between the Lines, andBusiness Case Studies help students to see the connections between economic theory and the real world.
• Student study tools–Review Quizzes, Problems and Applications, Key Terms, Summaries help guide student study and reinforce learning.
• Supported by MyEconLab – an online homework and tutorial system for economics courses which includes graphing tools, single and multi player experiments, eText, personalised study plan, and exportable gradebook. It can be used by students for self study or integrated deliver of a module by lecturers. To learn more visit www.myeconlab.com

 

Table of Contents

Part 1 The Scope of Economics  
Chapter 1     What is Economics?           
Chapter 2     The Economic Problem      

Part 2 How Markets Work            
Chapter 3     Demand and Supply           
Chapter 4     Efficiency and Equity                           
Chapter 5     Government Actions in  Markets                          

Part 3 Business Decisions and Strategies    
Chapter 6     Output and Costs
Chapter 7     Competitive Markets        
Chapter 8     Monopoly 
Chapter 9     Monopolistic Competition and Oligopoly    

Part 4 Monitoring Business Conditions
Chapter 10   Real GDP
Chapter 11   Monitoring Jobs and Inflation   

Part 5 Finance and Money
Chapter 12   Financial Markets                            
Chapter 13   Money and Banking

Part 6 Macroeconomic Performance And Policy
Chapter 14   Aggregate Supply and Aggregate demand                               
Chapter 15   Growth, Inflation and Cycles
Chapter 16  Fiscal Policy and Monetary Policy 

Glossary

Back Cover

 

Rarely has the benefit of a deeper understanding of economics been so important, relevant, topical …and exciting.

 

Since the recent global financial crisis moved economics from the business report to the front page, fear has gripped producers, consumers, financial institutions and governments.

If you want to start thinking about these events as an economist would, this is the book for you. Michael Parkin’s books are read by over a million students around the world, so you’ll be in safe hands as you learn how to explore difficult policy problems - and even to make more informed decisions in your own economic life.

 

This text covers the most important economic topics for a business or non-specialist student and presents the material with the same rigour found in a specialist economics text. It is an undiluted presentation of economic principles and models that will serve as a compass as you navigate the unknown future terrain through which your business life will take you.

Visit www.myeconlab.com - your gateway to all the online resources for this book, including:

• Step-by-step explanations and animated graphs that are constantly at hand for you to strengthen your grasp of the subject and prepare for your exams.
• A personalized study plan to provide you with extensive practice exactly where you need it.
• Examples of the real-world relevance of the subject with topical ‘Economics in the News’ stories and questions.

If you have purchased this text as part of a pack then you can gain access to MyEconLab by following the instructions to register on the access code included on the enclosed access card. If you’ve purchased this text on its own then you can purchase access online at www.myeconlab.com. See Using MyEconLab in the ‘Guided Tour’ area of this text for more details.

www.myeconlab.com

 

‘MyEconLab is an excellent source of information and is an invaluable study aid. Dr Phil Tomlinson, University of Bath, UK

‘MyEconLab is packed with useful teaching and learning resources which makes it an attractive journey for both students and teachers.’
Dr Jen Snowball, Rhodes University, South Africa

 

Michael Parkin is Professor Emeritus at the University of Western Ontario.

Melanie Powell is Reader in Economics at Derby University Business School.

Kent Matthews is the Sir Julian Hodge Professor of Banking and Finance at the Cardiff Business School.

 

Need extra support?

This title can be supported by MyEconLab, an online homework and tutorial system which can be used by students for self-directed study or fully integrated into an instructor's course.

 

This product is the book alone, and does NOT come with access to MyEconLab.

 

You can benefit from MyEconLab at a reduced price by purchasing a pack containing a copy of the book and an access card for MyEconLab: Essential Economics with MyEconLab access card, 1/e(ISBN: 9780273772668). Alternatively, buy access online at www.MyEconLab.com.

For educator access, contact your Pearson Account Manager. To find out who your account manager is, visit

Author

Michael Parkin is Professor Emeritus at the University of Western Ontario.

Melanie Powell is Reader in Economics at Derby University Business School.

Kent Matthews is the Sir Julian Hodge Professor of Banking and Finance at the Cardiff Business School.