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One of the challenges of teaching principles of economics is fostering interest in concepts, including opportunity cost, trade-offs, scarcity, and demand and supply that may not seem applicable to students’ lives. Economics makes these concepts relevant by demonstrating how real businesses apply them to make decisions every day. With ever-changing US and world economies, the 8th Edition has been updated with the latest developments using new real-world business and policy examples. Regardless of their future career path — opening an art studio, trading on Wall Street, or bartending at the local pub, students will benefit from understanding the economic forces behind their work.
Introduction
Markets in Action: Policy and Applications
Firms in the Domestic and International Economies
Microeconomic Foundations: Consumers and Firms
Market Structure and Firm Strategy
Labor Markets, Public Choice, and the Distribution of Income
Macroeconomic Foundations and Long-Run Growth
Short-Run Fluctuations