Description
Book SynopsisAn illuminating and robust introduction to economics principles, the fourteenth edition of Lipsey and Chrystal''s established textbook continues to provide complete coverage for those new to micro and macroeconomics. The authors help students to understand the subject matter through a combination of lucid explanation and supportive learning features which encourage independent thought. The principles are examined through a theoretical lens before empirical examples demonstrate how the concepts work in practice. The applied nature of the models is further emphasised by case studies from around the world, which encourage students to develop and contextualise their understanding of the key themes. Suitable for beginners, the authors provide in-depth explanations of key theoretical concepts which relate to a wide range of applied material. End-of-chapter questions give students the opportunity to test their knowledge and advance their critical thinking skills.Economics undergraduates study
Trade ReviewLipsey & Chrystal have been breaking boundaries for decades. The pairing of theory and examples is excellent. * Professor Parviz Dabir-Alai, Professor of Economics, Richmond University *
A title which all economists should have on their shelves: an accessible and reliable companion for a lifetime. * Professor João Sousa Andrade, Professor of Economics, University of Coimbra *
Table of ContentsMicroeconomics Part 1: Markets and Consumers 1: Economic issues and concepts 2: Demand and supply 3: Elasticity of demand and supply 4: Consumer choice: indifference theory Part 2: Markets and Firms 5: The cost structure of firms 6: Perfect competition 7: Monopoly 8: Imperfect competition Part 3: Markets for Inputs 9: Demand and supply of inputs 10: The labour market 11: Capital, investment, and new technology 12: Risk, uncertainty, and finance Part 4: Government and the Market 13: Successes and failures of markets 14: The role of government Macroeconomics Part 5: Macroeconomics: Issues and Framework 15: Macroeconomic issues and measurement 16: A basic model of the determination of GDP in the short term 17: GDP determination with government and trade 18: Money and monetary institutions 19: Money, interest, and GDP: the LM curve 20: Investment, the interest rate, and GDP: the IS-LM Model 21: GDP and the price level: aggregate demand and aggregate supply 22: The determination of GDP with steady inflation 6: Macroeconomics of the Global Economy 23: Business cycles, unemployment, and inflation 24: Exchange rates and the balance of payments 25: Fiscal and monetary policies 26: Economic growth and sustainability 27: International trade
