Survey of Economics: Principles, Applications, and Tools, 8th edition

  • Arthur O'Sullivan
  • Steven Sheffrin
  • Stephen Perez


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For courses in the principles of economics.

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Introduces students to the basic concepts of economics with engaging stories and timely applications

Students enter their first economics course hoping to gain a better understanding of the world around them, but often leave with their questions unanswered. Survey of Economics: Principles, Applications, and Tools is built upon the authors’ philosophy of using basic concepts of economics to explain a wide variety of relevant, current, and engaging economic applications. The 8th Edition incorporates the latest economic developments and timely applications throughout, such as the impact of Bitcoin on monetary policy and the opportunity cost of hosting an AirBnB. By making every chapter accessible and applied, students develop an understanding of core principles that they will use as citizens and consumers, now and in their careers.


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Table of contents

1. Introduction: What Is Economics? 

2. Key Principles of Economics 

3. Demand, Supply, and Market Equilibrium 

4. Elasticity: A Measure of Responsiveness 

5. Production Technology and Cost

6. Perfect Competition

7. Monopoly and Price Discrimination 

8. Market Entry, Monopolistic Competition, and Oligopoly

9. Market Failure: Imperfect Information, External Benefits, and External Costs

10. The Labor Market and the Distribution of Income

11. Measuring a Nation’s Production and Income

12. Unemployment and Inflation

13. Why Do Economies Grow? 

14. Aggregate Demand and Aggregate Supply

15. Fiscal Policy

16. Money and the Banking System

17. Monetary Policy and Inflation

18. International Trade and Finance

Published by Pearson (July 19th 2019) - Copyright © 2020