Economics, Global Edition

Michael Parkin
April 2013
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Economics, Global Edition
12 September 2015 81.50


This Global Edition has been edited to include enhancements making it more relevant to students outside the United States


Parkin brings critical issues to the forefront. Each chapter begins with one of today’s key issues, and additional issues appear throughout the chapter to show the real-world applications of the theory being discussed. When the chapter concludes, students “read between the lines” 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. Students will begin to think about issues the way real economists do and learn how to explore difficult policy problems and make more informed decisions in their own economic lives.


New to this Edition

  • Most chapters have been thoroughly reworked to achieve even greater clarity and to place greater emphasis on applications to current issues. Some sections of chapters have been removed and other sections added to cover new issues, particularly those that involve current policy problems.
  • Current issues organize each chapter. News stories about today’s major economic events and debates tie each chapter together, from new abbreviated chapter-opening vignettes to Reading Between the Lines and end-of-chapter problems and applications and online practice.
  • A new feature, Economics in the News, is aimed at better motivating students and showing them how to use the economic toolkit to understand the events and issues they are confronted with in the media. It also helps them to work the relatedEconomics in the News end-of-chapter problems and applications.

Table of Contents

1. What is Economics

2. The Economic Problem

3. Demand and Supply

4. Elasticity

5. Efficiency and Equity

6. Government Actions in Markets

7. Global Markets in Action

8. Utility and Demand

9. Possibilities, Preferences, and Choices

10.  Organizing Production

11.  Output and Costs

12.  Perfect Competition

13.  Monopoly

14.  Monopolistic Competition

15.  Oligopoly

16.  Public Choices and Public Goods

17.  Economics of the Environment

18.  Markets for Factors of Production

19.  Economic Inequality

20.  Uncertainty and Information

21.  Measuring GDP and Economic Growth

22.  Monitoring Jobs and Inflation

23.  Economic Growth

24.  Finance, Saving, and Investment

25.  Money, the Price Level, and Inflation

26.  The Exchange Rate and the Balance of Payments

27.  Aggregate Supply and Aggregate Demand

28.  Expenditure Multipliers: The Keynesian Model

29.  U.S. Inflation, Unemployment, and Business Cycle

30.  Fiscal Policy

31.  Monetary Policy

Companion Website