Principles of Economics, 12th edition

  • Karl E. Case
  • Ray C. Fair
  • Sharon E. Oster

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Reviewers 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, 13th 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, readers 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.

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Table of contents

Part I: Introduction To Economics

1. The Scope and Method of Economics

2. The Economic Problem: Scarcity and Choice

3. Demand, Supply, and Market Equilibrium

4. Demand and Supply Applications

5. Elasticity


Part II: The Market System

6. Household Behavior and Consumer Choice

7. The Production Process: The Behavior of Profit-Maximizing Firms

8. Short-Run Costs and Output Decisions

9. Long-Run Costs and Output Decisions

10. Input Demand: The Labor and Land Markets

11. Input Demand: The Capital Market and the Investment Decision

12. General Equilibrium and the Efficiency of Perfect Competition


Part III: Market Imperfections and the Role of Government

13. Monopoly and Antitrust Policy

14. Oligopoly

15. Monopolistic Competition

16. Externalities, Public Goods, and Common Resources

17. Uncertainty and Asymmetric Information

18. Income Distribution and Poverty

19. Public Finance: The Economics of Taxation


Part IV: Concepts and Problems in Macroeconomics

20. Introduction to Macroeconomics

21. Measuring National Output and National Income

22. Unemployment, Inflation, and Long-Run Growth


Part V: The Core of Macroeconomic Theory

23. Aggregate Expenditure and Equilibrium Output

24. The Government and Fiscal Policy

25. Money, the Federal Reserve, and the Interest Rate

26. The Determination of Aggregate Output, the Price Level, and the Interest Rate

27. Policy Effects and Cost Shocks in the AS/AD Model

28. The Labor Market in the Macroeconomy


Part VI: Further Macroeconomics Issues

29. Financial Crises, Stabilization, and Deficits

30. Household and Firm Behavior in the Macroeconomy: A Further Look

31. Long-Run Growth

32. Alternative Views in Macroeconomics


Part VII: The World Economy

33. International Trade, Comparative Advantage, and Protectionism

34. Open-Economy Macroeconomics: The Balance of Payments and Exchange Rates

35. Economic Growth in Developing Economies


Part VIII: Methodology

36. Critical Thinking about Research




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Published by Pearson (January 8th 2016) - Copyright © 2017