Please note that the digital access code that comes with the print book is valid for use in a specific Asia territory only.

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Ever wonder why you have the number of friends that you do? Would a tax on soda really reduce obesity? What is going on with the financial problems in Greece? Is a tax rebate is better than a tax bonus? ECONOMICS, 12E answers these questions and many more as this book opens up the world of economic analysis. This edition offers more detailed coverage of the financial and economic crisis than any other economics book of its kind on the market. Memorable examples from pop culture illustrate the unexpected places economics occur and show how economic forces link to every day events.

This edition offers complete video assets ideal for self-study. "Video Office Hours" digital lectures walk you through worked problems, while new Progression Graphs demonstrate key concepts in graphing for clarification. A new Test Prep Generator available on MindTap™ enables you to assess your personal economic understanding. Powerful digital resources, including Aplia™, MindTap™, and Cengage's CourseMate™, work with the book's latest content to reflect today's changing economy and equip you with a thorough understanding of contemporary economics.

AN INTRODUCTION TO ECONOMICS.
Part I: ECONOMICS: THE SCIENCE OF SCARCITY.
1. What Economics Is About.
Appendix A: Working with Diagrams.
Appendix B: Should You Major in Economics?
2. Production Possibilities Frontier Framework.
3. Supply and Demand: Theory.
4. Prices: Free, Controlled, and Relative.
5. Supply, Demand, and Price: Applications.
MACROECONOMICS.
Part II: MACROECONOMIC FUNDAMENTALS.
6. Macroeconomic Measurements, Part I: Prices and Unemployment.
7. Macroeconomic Measurements, Part II: GDP and Real GDP.
Part III: MACROECONOMIC STABILITY, INSTABILITY, AND FISCAL POLICY.
8. Aggregate Demand and Aggregate Supply.
9. Classical Macroeconomics and the Self-Regulating Economy.
10. Keynesian Macroeconomics and Economic Instability: A Critique of the Self-Regulating Economy.
11. Fiscal Policy and the Federal Budget.
Part IV: MONEY, THE ECONOMY, AND MONETARY POLICY.
12. Money, Banking, and the Financial System.
13. The Federal Reserve System.
Appendix C: The Market for Reserves (or the Federal Funds Market).
14. Money and the Economy.
15. Monetary Policy.
Appendix D: Bond Prices and the Interest Rate.
Part V: EXPECTATIONS AND GROWTH.
16. Expectations Theory and the Economy.
17. Economic Growth: Resources, Technology, Ideas, and Institutions.
Part VI: THE FINANCIAL CRISIS OF 2007-2009.
18. The Financial Crisis of 2007-2009.
Part VII: GOVERNMENT AND THE ECONOMY.
19. Debates in Macroeconomics Over the Role and Effects of Government.
MICROECONOMICS.
Part VIII: MICROECONOMIC FUNDAMENTALS.
20. Elasticity.
21. Consumer Choice: Maximizing Utility and Behavioral Economics.
Appendix E: Budget Constraint and Indifference Curve Analysis.
22. Production and Costs.
Part IX: PRODUCT MARKETS AND POLICIES.
23. Perfect Competition.
24. Monopoly.
25. Monopolistic Competition, Oligopoly, and Game Theory.
26. Government and Product Markets: Antitrust and Regulation.
Part X: FACTOR MARKETS AND RELATED ISSUES.
27. Factor Markets: With Emphasis on the Labor Market.
28. Wages, Union, and Labor.
29. The Distribution of Income and Poverty.
30. Interest, Rent, and Profit.
Part XI: PUBLIC CHOICE, AND SPECIAL-INTEREST-GROUP POLITICS.
31. Market Failure: Externalities, Public Goods, and Asymmetric Information.
32. Public Choice and Special-Interest-Group Politics.
Part XII: ECONOMICS THEORY-BUILDING AND EVERYDAY LIFE.
33. Building Theories to Explain Everyday Life: From Observations to Questions to Theories to Predictions.
THE GLOBAL ECONOMY.
Part XIII: INTERNATIONAL ECONOMICS AND GLOBALIZATION.
34. International Trade.
35. International Finance.
36. Globalization and International Impacts on the Economy.
WEB CHAPTERS.
37. The Economic Case For and Against Government: Five Topics Considered.
38. Stocks, Bonds, Futures and Options.
39. Agriculture: Problems, Policies, and Unintended Effects.

Please note that the digital access code that comes with the print book is valid for use in a specific Asia territory only. CB VitalSource eBook – The ultimate eBook experience has arrived! Easily access our eBooks with features that will improve your reading experience, and tools to help you take notes and organize your studies. Ever wonder why you have the number of friends that you do? Would a tax on soda really reduce obesity? What is going on with the financial problems in Greece? Is a tax rebate is better than a tax bonus? ECONOMICS, 12E answers these questions and many more as this book opens up the world of economic analysis. This edition offers more detailed coverage of the financial and economic crisis than any other economics book of its kind on the market. Memorable examples from pop culture illustrate the unexpected places economics occur and show how economic forces link to every day events. This edition offers complete video assets ideal for self-study. "Video Office Hours" digital lectures walk you through worked problems, while new Progression Graphs demonstrate key concepts in graphing for clarification. A new Test Prep Generator available on MindTap™ enables you to assess your personal economic understanding. Powerful digital resources, including Aplia™, MindTap™, and Cengage's CourseMate™, work with the book's latest content to reflect today's changing economy and equip you with a thorough understanding of contemporary economics. NEW PROGRESSION GRAPHS CLARIFY GRAPHING PRINCIPLES. Available on MindTap™, these Progression Graphs help students better understand economic graphs by showing their composition, step-by-step. FRESH EMPHASIS ON THE LATEST SOCIAL MEDIA HIGHLIGHTS ITS IMPACT IN THE ECONOMY. This edition uses the Economics 24/7 feature to showcase detailed discussions on social media and its economic influences as it relates to chapter topics. WELL-BALANCED COVERAGE OF ECONOMIC FAILURE OF 2008 ANALYZES MARKET AND GOVERNMENT FAILURE. While many books in the market examine market failure, this edition offers a complete, consistent and balanced discussion of this important recent historical event, examining both market failure and government reaction and mistakes. DISCUSSION ENCOURAGES A DEEPER RELATIONSHIP BETWEEN ECONOMICS AND EVERY DAY LIFE. New, relevant topics, such money and happiness and gold standard as money policy, keep the reader interest and demonstrate the application of what students are learning. NEW BEHAVIORIAL & EXPERIMENTAL ECONOMICS VIDEO SERIES. Available on MindTap™, gives students a preview into behavioral economics by, discussing the rational-actor model, reviewing experiments performed by behavioral economists to challenge the rational-actor model and, discussing some of the contributions of, and weakness of, behavioral economics.