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Economics 13th edition ( Private and Public Choice )
Authors: James D Gwartney, Richard L Stroup, Russell S Sobel, David MacPherson, David A MacPherson
Publisher: South-Western College Pub
Details of the book:
A well known book on the principles and the workings of the market, the 13th edition also includes information on notable contemporary economic events. The Recession of 2008-2009 is one of the major issues of the present time which obtains extensive coverage in the book. Furthermore, other economic activities which affect local and global market are also well analyzed. Faulty and dated theories are disproved appropriately and special focus is given on the Keynesian theory of invisible hand and its effect on the contemporary market. To ensure a proper follow up on each issue covered in the book, various online multimedia tools are included with the 13th edition. Additionally, an updated version of the Aplia interactive system is also integrated with the book.
- Part 1 Introduces the students to reasoning in the economic way. Chapters include topics like different approaches in economics and the tools economists use.
- Part 2 includes information on Governments and market transaction . Chapters include topics like demand, supply along with their applications and other uses. Processes of the market, decision making collectively and government's role in the market.
- Part 3 focuses on the fundamentals of macroeconomics. This includes topics like national economic scenario and other macroeconomic problems like inflation, unemployment and other fluctuations in the economy. It also focuses extensively on classical views like the Keynesian approaches to macroeconomics, along with an introduction to fundamentals of macroeconomics. Other topics include economic growth, fiscal and monetary policy, employment, banking system and institution etc.
- Part 4 which covers international economics throws light on international trade, finance, foreign exchange etc.
- Part 5 takes on the fundamentals of Microeconomics like choice of consumers, competitive character of the market, cost, supply and demand of goods, price takers and searchers for both low and high entry barriers. It also focuses on other issues like demand and supply of resources, investment, job market scenario, productivity and opportunity etc. Microeconomics also includes national economic problems like income and economic inequality, poverty etc.
- Part 6 goes further than the basics and covers other topics like the internet's effect on the economy as a whole, the role and nature of the stock market, the role of government intervention in the form of taxation, budget and debts other problems and analysis regarding labour policies etc. It also takes on topics like health care's relation to economics, educational quality in America, gender inequality in the field of economics, especially earnings, environment, the future condition of natural resources etc.