EconomicsThe eleventh edition of this successful textbook for Economics majors has been thoroughly updated and revised to give more depth to core principles. Pitched at a level that will stretch readers but still comprehensible for beginners, Economics is explained in a straightforward manner, whilst maintaining the rigour needed to enable students to progress with their studies. The book features a depth and breadth of topics combined with a balance of technical and applied material.In-depth explanations of theoretical concepts are balanced with a range of real world examples help students to understand and apply the concepts they have learnt.This new edition includes more material on game theory, Solow Growth Model, the role of households, an introduction to the competitive general equilibrium model, competition policy and regulation, and expands its current coverage of fiscal and monetary policy.A supporting and newly expanded Online Resource Centre features supplements for lecturers including an instructor's manual; PowerPoint slides; answers to questions in the text; class exercises; and artwork from the text. Supplements for students include self-assessment multiple choice questions with feedback; crosswords compiled from key glossary terms; a list of useful websites; maths appendices; past exam papers and additional case studies. |
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aggregate demand aggregate spending aggregate supply amount assets average balance banks behaviour capital causes cent Chapter consumers consumption cost curve countries demand and supply demand curve demand shock deposits desired spending determined domestic earn economists economy effect efficient elasticity equal equilibrium GDP example exchange rate exports fall Figure firms fiscal policy foreign function growth important increase indifference curve industry inflation input prices interest rate investment labour market less level of GDP long-run lower macroeconomics marginal cost marginal revenue market price measured ment million monetary authorities monetary policy money supply monopoly NAIRU national income opportunity cost output payments perfect competition Phillips curve potential GDP pounds price level profits purchase quantity demanded real GDP recessionary gap reduce rise sector sell shift short-run shows SRAS curve supply curve supply shock theory tion trade unemployment unit variable workers