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For the two-semester course in Principles of Economics.An Introduction to the Functioning of the Economy and the Power and Breadth of EconomicsReviewers tell us that Case/Fair/Oster is one of the all-time bestselling Principles of Economics texts because they trust it to be clear, thorough, and complete. Readers of Principles of Economics, Twelfth Edition, Global Edition, come away with a basic understanding of how market economies function, an appreciation for the things they do well, and a sense of things they do poorly. With the latest research and added exercises, students begin to learn the art and science of economic thinking and start to look at some policy and even personal decisions in a different way. MyLab Economics not included. Students, if MyLab Economics is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyLab Economics should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information. Also Available with MyLab Economics (R)This title is also available with MyLab Economics-an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts.Students, if interested in purchasing this title with MyLab Economics, ask your instructor for the correct package ISBN and Course ID. Instructors, contact your Pearson representative for more information.
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Table of Contents

Part I: Introduction To Economics1. The Scope and Method of Economics2. The Economic Problem: Scarcity and Choice3. Demand, Supply, and Market Equilibrium4. Demand and Supply Applications5. Elasticity Part II: The Market System6. Household Behavior and Consumer Choice7. The Production Process: The Behavior of Profit-Maximizing Firms8. Short-Run Costs and Output Decisions9. Long-Run Costs and Output Decisions10. Input Demand: The Labor and Land Markets11. Input Demand: The Capital Market and the Investment Decision12. General Equilibrium and the Efficiency of Perfect Competition Part III: Market Imperfections and the Role of Government13. Monopoly and Antitrust Policy14. Oligopoly15. Monopolistic Competition16. Externalities, Public Goods, and Common Resources17. Uncertainty and Asymmetric Information18. Income Distribution and Poverty19. Public Finance: The Economics of Taxation Part IV: Concepts and Problems in Macroeconomics20. Introduction to Macroeconomics21. Measuring National Output and National Income22. Unemployment, Inflation, and Long-Run Growth Part V: The Core of Macroeconomic Theory23. Aggregate Expenditure and Equilibrium Output24. The Government and Fiscal Policy25. Money, the Federal Reserve, and the Interest Rate26. The Determination of Aggregate Output, the Price Level, and the Interest Rate27. Policy Effects and Cost Shocks in the AS/AD Model28. The Labor Market in the Macroeconomy Part VI: Further Macroeconomics Issues29. Financial Crises, Stabilization, and Deficits30. Household and Firm Behavior in the Macroeconomy: A Further Look31. Long-Run Growth32. Alternative Views in Macroeconomics Part VII: The World Economy33. International Trade, Comparative Advantage, and Protectionism34. Open-Economy Macroeconomics: The Balance of Payments and Exchange Rates35. Economic Growth in Developing Economies Part VIII: Methodology36. Critical Thinking about Research

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