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PRINCIPLES OF ECONOMICS, Seventh Edition, continues to be the most popular and widely-used text in the economics classroom. A text by a superb writer and economist that stresses the most important concepts without overwhelming students with an excess of detail. A thorough update has been made to keep all chapters fresh and relevant with current Economic coverage. The seventh edition premier ancillary package is the most extensive in the industry, using a team of instructors/preparers that have been with the project since the first edition.

Part I: INTRODUCTION.

1. Ten Principles of Economics.

2. Thinking Like an Economist.

3. Interdependence and the Gains from Trade.



Part II: HOW MARKETS WORK.

4. The Market Forces of Supply and Demand.

5. Elasticity and Its Application.

6. Supply, Demand, and Government Policies.



Part III: MARKETS AND WELFARE.

7. Consumers, Producers, and the Efficiency of Markets.

8. Applications: The Costs of Taxation.

9. Application: International Trade.



Part IV: THE ECONOMICS OF THE PUBLIC SECTOR.

10. Externalities.

11. Public Goods and Common Resources.

12. The Design of the Tax System.



Part V: FIRM BEHAVIOR AND THE ORGANIZATION OF INDUSTRY.

13. The Costs of Production.

14. Firms in Competitive Markets.

15. Monopoly.

16. Monopolistic Competition.

17. Oligopoly.



Part VI: THE ECONOMICS OF THE LABOR MARKET.

18. The Markets for the Factors of Production.

19. Earnings and Discrimination.

20. Income Inequality and Poverty.

Part VII: TOPICS FOR FURTHER STUDY.

21. The Theory of Consumer Choice.

22. Frontiers in Microeconomics.



Part VIII: THE DATA OF MACROECONOMICS.

23. Measuring a Nation's Income.

24. Measuring the Cost of Living.



Part IX: THE REAL ECONOMY IN THE LONG RUN.

25. Production and Growth.

26. Saving, Investment, and the Financial System.

27. Tools of Finance.

28. Unemployment and Its Natural Rate.



Part X: MONEY AND PRICES IN THE LONG RUN.

29. The Monetary System.

30. Money Growth and Inflation.



Part XI: THE MACROECONOMICS OF OPEN ECONOMICS.

31. Open-Economy Macroeconomics: Basic Concepts.

32. A Macroeconomic Theory of the Open Economy.



Part XII: SHORT-RUN ECONOMIC FLUCTUATIONS.

33. Aggregate Demand and Aggregate Supply.

34. The Influence of Monetary and Fiscal Policy on Aggregate Demand.

35. The Short-Run Tradeoff between Inflation and Unemployment.



Part XIII: FINAL THOUGHTS.

36. Six Debates over Macroeconomic Policy.