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Essential Foundations of Economics, 9th edition

Published by Pearson (March 17, 2021) © 2021

  • Robin Bade University of Western Ontario
  • Michael Parkin Emeritus of University of Western Ontario
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Essential Foundations of Economics introduces you to economic principles you can use to navigate the financial decisions of your future. Each chapter concentrates on a manageable number of ideas, usually 3 to 4, with each reinforced several times throughout the text. This patient approach helps guide you through unfamiliar terrain and focuses you on the most important concepts and key skills, like reading and interpreting graphs.

The 9th Edition motivates with compelling issues and encourages learning with practice questions, to help you grasp and apply economic principles to the real world.

PART 1: INTRODUCTION

  1. Getting Started  
  2. The US and Global Economies
  3. The Economic Problem
  4. Demand and Supply

PART 2: A CLOSER LOOK AT MARKETS

  1. Elasticities of Demand and Supply
  2. Efficiency and Fairness of Markets  
  3. Government Actions in Markets
  4. Global Markets in Action
  5. Externalities: Pollution, Education, and Healthcare

PART 3: PRICES, PROFITS, AND INDUSTRY PERFORMANCE

  1. Production and Cost
  2. Perfect Competition
  3. Monopoly
  4. Monopolistic Competition and Oligopoly

PART 4: MONITORING THE MACROECONOMY

  1. GDP: A Measure of Total Production and Income
  2. Jobs and Unemployment
  3. The CPI and the Cost of Living

PART 5: UNDERSTANDING THE MACROECONOMY

  1. Potential GDP and Economic Growth
  2. Money and Inflation
  3. Aggregate Supply and Aggregate Demand
  4. Fiscal Policy and Monetary Policy

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