Economics

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This revised edition continues to emphasize the Analytical Core of Economics with particular attention to economic growth and analysis of market economics. This emphasis helpsfoster a focus on the most important concepts in the principles course. Key Features Superior coverage of capital, interest and profits Focuses on the Analytical Core Updated view of financial markets and monetary policy Each new edition distills the best thinking of economists about how markets function and about what countries can do to improve people's living standards. But economics has changed profoundly since the first edition of this text appeared in 1948. Table Of Contents Contents of Indian Adaptation A Centrist Proclamation Preface Preface to the Indian Adaptation For the Student: Economics and Internet Useful Websites on Indian Economy Part 1 Basic Concept 1. The Central Concepts of Economics Appendix 2. The Modern Mixed Economy 3. Basic Elements of Supply and Demand Appendix 3 Part 2 Microeconomics: Supply, Demand, andProduct Markets 4. Supply and Demand: Elasticity and Applications 5. Demand and Consumer Behavior Appendix 5 6. Production and Business Organization 7. Analysis and Costs Appendix 7 8. Analysis of Perfectly Competitive Markets 9. Imperfect Competition and Monopoly 10. Competition Among the Few 11. Economics of Uncertainty Part 3 Factor Markets: Labor, Land, and Capital 12. How Markets Determine Incomes 13. The Labor Market 14. Land, Natural Resources, and the Environment 15. Capital, Interest, and Profits Part 4 Applications ofEconomic Principles 16. Government Taxation and Expenditure Appendix 16 17. Efficiency vs. Equality: The Big Tradeoff Appendix 17 18. International Trade Appendix 18 Part 5 Macroeconomics: Economic Growth andBusiness Cycles 19. Overview of Macroeconomics Appendix 19 20. Measuring Economic Activity Appendix 20 21. Consumption and Investment Appendix 21 22. Business Cycles and Aggregate Demand Appendix 22 23. Money and the Financial System Appendix 23 24. Monetary Policy and the Economy Appendix 24 Part 6 Growth, Development, and the Global Economy 25. Economic Growth Appendix 25 26. The Challenge of Economic Development Appendix 26 27. Exchange Rates and the International Financial System Appendix 27 28. Open-Economy Macroeconomics Appendix 28 Part 7 Unemployment, Inflation, and Economic Policy 29. Unemployment and the Foundations of Aggregate Supply Appendix 29 30. Inflation Appendix 30 31. Frontiers of Macroeconomics Glossary of Terms Index