Midlands State University Library
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Economics / created by Michael Parkin, Melanie Powell and Kent Matthews.

By: Contributor(s): Material type: TextTextPublisher: Pearson, 2017Edition: Tenth EditionDescription: xxxii, 797 pages Coloured illustrations; 27 cmContent type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISBN:
  • 9781292147826
Subject(s): LOC classification:
  • HB171.5 PAR
Contents:
Cover Title page Copyright page About the Authors Brief Contents Contents Guided Tour for Students Preface Publisher'sAcknowledgments Part 1 The Scope of Economics Chapter 1 What Is Economics? A Definition of Economics Two Big Economic Questions What, How and For Whom? Does the Pursuit of Self-Interest Unintentionally Promote the Social Interest? The Economic Way of Thinking A Choice Is a Trade-Off Making a Rational Choice Benefi t: What You Gain Cost: What You Must Give Up How Much? Choosing at the Margin Choices Respond to Incentives Economics as a Social Science and Policy Tool Economist as Social Scientist Economist as Policy Adviser Chapter 1 Appendix: Graphs in Economics Graphing Data Scatter Diagrams Breaks in the Axes Misleading Graphs Correlation and Causation Graphs Used in Economic Models Variables That Move in the Same Direction Variables That Move in Opposite Directions Variables That Have a Maximum or a Minimum Variables That Are Unrelated The Slope of a Relationship The Slope of a Straight Line The Slope of a Curved Line Graphing Relationships Among More Than Two Variables Ceteris Paribus When Other Things Change Mathematical Note Equations of Straight Lines Chapter 2 The Economic Problem Production Possibilities and Opportunity Cost Production Possibilities Frontier Production Efficiency Trade-Off Along the PPF Opportunity Cost Using Resources Effi ciently The PPF and Marginal Cost Preferences and Marginal Benefit Effi cient Use of Resources Economic Growth The Cost of Economic Growth Gains from Trade Comparative Advantage and Absolute Advantage Achieving the Gains from Trade Economic Coordination Firms Markets Property Rights Money Circular Flows Through Markets Coordinating Decisions Economics in the News Expanding Production Possibilities Part 2 How Markets Work Chapter 3 Demand and Supply Markets and Prices A Competitive Market Demand The Law of Demand Demand Curve and Demand Schedule A Change in Demand A Change in the Quantity Demanded versus a Change in Demand Supply The Law of Supply Supply Curve and Supply Schedule A Change in Supply A Change in the Quantity Supplied versus a Change in Supply Market Equilibrium Price as a Regulator Price Adjustments Predicting Changes in Price and Quantity An Increase in Demand A Decrease in Demand An Increase in Supply A Decrease in Supply Changes in Both Demand and Supply Economics in the News Demand and Supply: The Market for Bananas Mathematical Note Demand, Supply and Equilibrium Price Elasticity of Demand Calculating Price Elasticity of Demand Inelastic and Elastic Demand The Factors That Influence the Elasticity of Demand
Summary: Think like an economist! Economics touches almost every aspect of life, from climate change to terrorism, taxes to house prices, wages, to how much time to spend studying! Thinking like an economist will enable you to evaluate economic policies, understand human behaviour, and make more informed decisions. This comprehensive revision retains the hallmarks of previous editions, with a thorough and detailed presentation of the principles of economics and on the development of your critical thinking skills. With the addition of new features, such as At Issue and Economics in the News.
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Holdings
Item type Current library Call number Copy number Status Date due Barcode
Book Book Main Library Open Shelf HB171.5 PAR (Browse shelf(Opens below)) 160095 Available BK148137

Includes bibliography and index


Cover
Title page
Copyright page
About the Authors
Brief Contents
Contents
Guided Tour for Students
Preface
Publisher'sAcknowledgments
Part 1 The Scope of Economics
Chapter 1 What Is Economics?
A Definition of Economics
Two Big Economic Questions
What, How and For Whom?
Does the Pursuit of Self-Interest Unintentionally Promote the Social Interest?
The Economic Way of Thinking
A Choice Is a Trade-Off
Making a Rational Choice
Benefi t: What You Gain
Cost: What You Must Give Up
How Much? Choosing at the Margin Choices Respond to Incentives
Economics as a Social Science and Policy Tool
Economist as Social Scientist
Economist as Policy Adviser
Chapter 1 Appendix: Graphs in Economics
Graphing Data
Scatter Diagrams
Breaks in the Axes
Misleading Graphs
Correlation and Causation
Graphs Used in Economic Models
Variables That Move in the Same Direction
Variables That Move in Opposite Directions
Variables That Have a Maximum or a Minimum
Variables That Are Unrelated
The Slope of a Relationship
The Slope of a Straight Line
The Slope of a Curved Line Graphing Relationships Among More Than Two Variables
Ceteris Paribus
When Other Things Change
Mathematical Note Equations of Straight Lines
Chapter 2 The Economic Problem
Production Possibilities and Opportunity Cost
Production Possibilities Frontier
Production Efficiency
Trade-Off Along the PPF
Opportunity Cost
Using Resources Effi ciently
The PPF and Marginal Cost
Preferences and Marginal Benefit
Effi cient Use of Resources
Economic Growth
The Cost of Economic Growth
Gains from Trade
Comparative Advantage and Absolute Advantage Achieving the Gains from Trade
Economic Coordination
Firms
Markets
Property Rights
Money
Circular Flows Through Markets
Coordinating Decisions
Economics in the News Expanding Production Possibilities
Part 2 How Markets Work
Chapter 3 Demand and Supply
Markets and Prices
A Competitive Market
Demand
The Law of Demand
Demand Curve and Demand Schedule
A Change in Demand
A Change in the Quantity Demanded versus a Change in Demand
Supply
The Law of Supply
Supply Curve and Supply Schedule
A Change in Supply A Change in the Quantity Supplied versus a Change in Supply
Market Equilibrium
Price as a Regulator
Price Adjustments
Predicting Changes in Price and Quantity
An Increase in Demand
A Decrease in Demand
An Increase in Supply
A Decrease in Supply
Changes in Both Demand and Supply
Economics in the News Demand and Supply: The Market for Bananas
Mathematical Note Demand, Supply and Equilibrium
Price Elasticity of Demand
Calculating Price Elasticity of Demand
Inelastic and Elastic Demand
The Factors That Influence the Elasticity of Demand

Think like an economist! Economics touches almost every aspect of life, from climate change to terrorism, taxes to house prices, wages, to how much time to spend studying! Thinking like an economist will enable you to evaluate economic policies, understand human behaviour, and make more informed decisions. This comprehensive revision retains the hallmarks of previous editions, with a thorough and detailed presentation of the principles of economics and on the development of your critical thinking skills. With the addition of new features, such as At Issue and Economics in the News.

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