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Economics, 14th edition

Published by Pearson (December 29, 2022) © 2023

  • Michael Parkin Emeritus of University of Western Ontario
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Buy nowOpens in a new tab

In this eTextbook — More ways to learn

  • More flexible. Start learning right away, on any device.
  • More supportive. Get AI explanations and practice questions (select titles).
  • More interactive. Bring learning to life with audio, videos, and diagrams.
  • More memorable. Make concepts stick with highlights, search, notes, and flashcards.
  • More understandable. Translate text into 100+ languages with one tap.
$59.94
monthly payments or
pay undefined one-time
Instant access

In this eTextbook — More ways to learn

  • More flexible. Start learning right away, on any device.
  • More supportive. Get AI explanations and practice questions (select titles).
  • More interactive. Bring learning to life with audio, videos, and diagrams.
  • More memorable. Make concepts stick with highlights, search, notes, and flashcards.
  • More understandable. Translate text into 100+ languages with one tap.

Title overview

Economics gets you to think like an economist by incorporating the latest policy, data and discussions on important global issues.

The 14th Edition emphasizes real-world applications, the development of critical-thinking skills, diagrams renowned for their pedagogy and clarity, and path-breaking technology. Hallmark features in the chapter openings and endings encourage you to think critically about a news article relating to the issue, demonstrating how thinking like an economist can bring a clearer perspective to, and deeper understanding of, today's events.

Table of contents

PART 1: INTRODUCTION

  1. What is Economics?
  2. The Economic Problem

PART 2: HOW MARKETS WORK

  1. Demand and Supply
  2. Elasticity
  3. Efficiency And Equity
  4. Government Actions in Markets
  5. Global Markets in Action

PART 3: HOUSEHOLDS' CHOICES

  1. Utility and Demand
  2. Possibilities, Preferences, and Choices

PART 4: FIRMS AND MARKETS

  1. Organizing Production
  2. Output and Costs
  3. Perfect Competition
  4. Monopoly
  5. Monopolistic Competition
  6. Oligopoly

PART 5: MARKET FAILURE AND GOVERNMENT

  1. Public Choices, Public Goods, and Healthcare
  2. Externalities

PART 6: FACTOR MARKETS, INEQUALITY, AND UNCERTAINTY

  1. Markets for Factors of Production
  2. Economic Inequality
  3. Uncertainty and Information

PART 7: MONITORING MACROECONOMIC PERFORMANCE

  1. Monitoring the Value of Production: GDP
  2. Monitoring Jobs and Inflation

PART 8: MACROECONOMIC TRENDS

  1. Economic Growth
  2. Finance, Saving, and Investment
  3. Money, the Price Level, and Inflation
  4. The Exchange Rate and the Balance of Payments

PART 9: MACROECONOMIC FLUCTUATIONS

  1. Aggregate Supply and Aggregate Demand
  2. Expenditure Multipliers
  3. The Business Cycle, Inflation, and Deflation

PART 10: MACROECONOMIC POLICY

  1. Fiscal Policy
  2. Monetary Policy

Author bios

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