Table of Contents

PART 1: AN INTRODUCTION TO ECONOMICS and THE ECONOMY To the Student 1 Limits, Alternatives, and Choices (+ Appendix) 2 The Market System and the Circular Flow PART 2: PRICE, QUANTITY, AND EFFICIENCY 3 Demand, Supply, and Market Equilibrium (+ Appendix) 4 Elasticity 5 Market Failures: Public Goods and Externalities PART 3: MICROECONOMICS of PRODUCT MARKETS 6 Consumer Behavior (+ Appendix) 7 Businesses and the Costs of Production 8 Pure Competition in the Short Run 9 Pure Competition in the Long Run 10 Pure Monopoly 11 Monopolistic Competition and Oligopoly (+ Appendix) 11w Technology, R&D, and Efficiency PART 4: MICROECONOMICS of RESOURCE MARKETS 12 The Demand for Resources 13 Wage Determination (+ Appendix) 14 Rent, Interest, and Profit 15 Natural Resource and Energy Economics PART 5: MICROECONOMICS of GOVERNMENT 16 Public Finance: Expenditures and Taxes 17 Asymmetric Information, Voting, and Public Choice PART 6: MICROECONOMIC ISSUES and POLICIES 18 Antitrust Policy and Regulation 19 Agriculture: Economics and Policy 20 Income Inequality, Poverty, and Discrimination 21 Health Care 22 Immigration PART 7: GDP, GROWTH, AND INSTABILITY 23 An Introduction to Macroeconomics 24 Measuring Domestic Output and National Income 25 Economic Growth 26 Business Cycles, Unemployment, and Inflation PART 8: MACROECONOMIC MODELS and FISCAL POLICY 27 Basic Macroeconomic Relationships 28 The Aggregate Expenditures Model 29 Aggregate Demand and Aggregate Supply (+ Appendix) 30 Fiscal Policy, Deficits, and Debt PART 9: MONEY, BANKING, and MONETARY POLICY 31 Money, Banking, and Financial Institutions 32 Money Creation 33 Interest Rates and Monetary Policy 34 Financial Economics PART 10: EXTENSIONS and ISSUES 35 Extending the Analysis of Aggregate Supply 36 Current Issues in Macro Theory and Policy PART 11: INTERNATIONAL ECONOMICS 37 International Trade 38 The Balance of Payments, Exchange Rates, and Trade Deficits 39w The Economics of Developing Countries OPTIONAL CONTENT FOR INSTRUCTORS (Available for instructors on the OLC) COI 1 The United States and the Global Economy COI 2 Previous International Exchange-Rate Systems

About the Author

Campbell R. McConnell earned his Ph.D. from the University of Iowa after receiving degrees from Cornell College and the University of Illinois. He taught at the University of Nebraska-Lincoln from 1953 until his retirement in 1990. He is also coauthor of Contemporary Labor Economics, Seventh edition, and Essentials of Economics, First edition (both The McGraw-Hill Companies), and has edited readers for the principles and labor economics courses. He is a recipient of both the University of Nebraska Distinguished Teaching Award and the James A. Lake Academic Freedom Award, and is past-president of the Midwest Economics Association. Professor McConnell was awarded an honorary Doctor of Laws degree from Cornell College in 1973 and received its Distinguished Achievement Award in 1994. Stanley L. Brue did his undergraduate work at Augustana College (South Dakota) and received its Distinguished Achievement Award in 1991. He received his Ph.D. from the University of Nebraska-Lincoln. He is a professor at Pacific Lutheran University, where he has been honored as a recipient of the Burlington Northern Faculty Achievement Award. Professor Brue has also received the national Leavey Award for excellence in economic education. He has served as national president and chair of the Board of Trustees of Omicron Delta Epsilon International Economics Honorary. He is coauthor of Economic Scenes, Fifth edition (Prentice-Hall), Contemporary Labor Economics, Seventh edition, Essentials of Economics, First edition (both The McGraw-Hill Companies), and The Evolution of Economic Thought, Seventh edition (South-Western). Sean is an assistant professor of economics at Scripps College in Claremont, California. He is the author of the international best seller "Economics for Dummies" as well as the coauthor, along with Campbell McConnell and Stanley Brue, of the world's best-selling college economics textbook, "Economics: Principles, Problems, and Policies". An avid martial artist, Sean is a former Aikido national champion and has coached five of his students to U.S. national aikido titles. A recurring commentator on FOX Business, ABC News, and NPR, Sean holds a B.A. in economics from the University of Southern California and a Ph.D. in economics from U.C. Berkeley, where he completed his dissertation under the supervision of Nobel Laureate George Akerlof. Sean's research focuses on the often puzzling and seemingly irrational behavior of stock market investors, but he's also investigated topics as wide-ranging as the factors that affect customer tipping behavior at restaurants and why you see a lot of unionized workers only in certain industries.