The 8th Edition of Contemporary Economics continues to offer a clear, concise presentation of basic micro- and macroeconomic theory. Emphasising how the discipline of economics connects to the world, the book takes a friendly and accessible tone, illustrating theory with applications.
This new edition comes with updated applications and data to reflect the changing world events since the previous edition was published. With a vast range of updated applications, the handbook uses real world, globally relevant examples that make the subject easy to understand. New and updated topics include:
- Energy and oil
- Economic sanctions on Russia and Iran
- The Eurozone Crisis
- The Trans-Pacific Partnership
- China and the world currency market
Including a Companion Website complete with instructor’s manual, lecture slides and test bank, as well as an online study guide and multiple choice questions for students, Contemporary Economics is suitable for both economics students and non-majors studying economics and economic issues at the introductory level.
Table of Contents
Part 1: Introduction
Chapter 1 Scarcity and Choice
Part 2: The Microeconomy
Chapter 2 Market Transactions: Demand and Supply Analysis
Chapter 3 Demand and Supply Applications
Chapter 4 Production and the Costs of Production
Chapter 5 Competition and Monopoly: Virtues and Vices
Chapter 6 Imperfect Competition
Chapter 7 Labor Markets
Chapter 8 Government and Markets
Part 3: The Macroeconomy
Chapter 9 The Mixed Economy of the United States
Chapter 10 Gross Domestic Product and Economic Growth
Chapter 11 The Business Cycle, Unemployment, and Inflation
Chapter 12 Macroeconomic Instability: Aggregate Demand and Aggregate Supply
Chapter 13 Fiscal Policy and the Federal Budget
Chapter 14 Money and the Banking System
Chapter 15 The Federal Reserve and Monetary Policy
Part 4: The International Economy
Chapter 16 International Trade and the Global Economy
Chapter 17 International Finance
Chapter 18 Economic Systems and Developing Countries
Biography
Robert Carbaugh is Professor of Economics at Central Washington University, USA.
‘For introductory economics, my students have always done their best work when the text offers current and lively references to applied topics that explain how our theoretical models work. Professor Carbaugh offers clear and balanced explanations of theory that are illuminated by fresh contemporary examples. Carbaugh has a gift for writing that is engaging, and he uses language that makes the subject accessible to the greenest of readers. The graphics in this book are similarly clear and attractive. This text will continue to produce deep learning for students who are taking their first steps to explore the ways economists consider the world around us.’ – Laurence Malone, Professor of Economics, Hartwick College, USA
