Essential Foundations of Economics: Global Edition

For one-semester Principles of Economics courses. A practice-oriented learning system that breaks the traditional textbook mold To help students focus on the most important concepts-and effectively practice application of those concepts-Essential Foundations of Economics is structured around a Checklist/Checkpoint system. The result is a patient, confidence-building program that prepares students to use economics in their everyday lives, regardless of what their future career will be. This program provides a better teaching and learning experience-for you and your students. It will help you to: * Personalize learning with MyEconLab: This online homework, tutorial, and assessment program engages students in learning and provides instructors tools to keep students on track. * Encourage students to learn by doing: A Checklist/Checkpoint system provides a practice-oriented framework that enables active learning. * Command student attention and foster interest in the course: Engaging features draw students into the material, and keep them focused throughout the course. * Provide engaging, fully updated content: New and updated material on contemporary topics better motivates students to discover the economic way of thinking.I. Introduction 1. Getting Started 2. The U.S. and Global Economies 3. The Economic Problem 4. Demand and Supply II. A Closer Look at Markets 5. Elasticities of Demand and Supply 6. Efficiency and Fairness of Markets 7. Government Actions in Markets 8. Global Markets in Action 9. Externalities: Pollution, Education, and Health Care III. Prices, Profits, and Industry Performance 10. Production and Cost 11. Perfect Competition 12. Monopoly 13. Monopolistic Competition and Oligopoly IV. Monitoring the Macroeconomy 14. GDP: A Measure of Total Production and Income 15. Jobs and Unemployment 16. The CPI and the Cost of Living V. Understanding the Macroeconomy 17. Potential GDP and Economic Growth 18. Money and the Monetary System 19. Aggregate Supply and Aggregate Demand 20. Fiscal Policy and Monetary Policy