Table of Contents

Introduction to the student and teacher; Introduction; 1. The foundations of economics; Section 1. Microeconomics: 2. Competitive markets: demand and supply; 3. Elasticities; 4. Government intervention; 5. Market failure; 6. The theory of the firm I: production, costs, revenues and profit; 7. The theory of the firm II: market structures; Section 2. Macroeconomics: 8. The level of overall economic activity; 9. Aggregate demand and aggregate supply; 10. Macroeconomic objectives I: low unemployment, low and stable rate of inflation; 11. Macroeconomic objectives II: economic growth and equity in the distribution of income; 12. Demand-side and supply-side policies; Section 3. International Economics: 13. International trade; 14. Exchange rates and the balance of payments; 15. Economic integration and the terms of trade; Section 4. Development Economics: 16. Understanding economic development; 17. Topics in economic development; 18. Foreign sources of finance and foreign debt; 19. Consequences of economic growth and the balance between markets and intervention; Glossary; Index; Acknowledgements.

Promotional Information

A comprehensive new edition of Economics for the IB Diploma.