Principles of Economics
Custom Version 9.1.1
By John B. Taylor and Akila Weerapana
John B. Taylor
Included Supplements
Key Features
- Updated with over 180 new hyperlinks that include brief video lectures scripted and recorded by John Taylor that align with the narrative to introduce, explain, and illustrate key economic concepts. Hyperlinks include additional videos that apply topics to real-world situations and links to webpages that enrich online courses, engage students, and reinforce or augment that narrative.
- Stimulating vignettes begin each chapter and resonate with readers.
- Crisp, clean, and conversational writing style holds students' interest.
- Quickly establishes clear understandings of fundamental topics such as competitive markets, equilibrium and market efficiency, and the policy implications of business cycles.
- Clear and well-crafted graphs, tables, and summaries make it easy to read and understand key data.
- Chapter-end reading assignments based on real-life cases are contemporary and compelling.
- Carefully selected, revised, and tested problems at the end of every chapter are grounded in real-world situations.
- Definitions of key terms appear in the margins and are hyperlinked online.
- Customizable.
Principles of Economics is suitable for introductory economics courses usually called principles of economics, economics principles, introductory economics, or similar titles, taught primarily at the undergraduate level at two- and four-year colleges and universities. The course may also be taught at the MBA level. This full-length volume encompasses both microeconomics and macroeconomics and would typically be used in a full-year sequence. Separate volumes of this book titled Principles of Microeconomics and Principles of Macroeconomics are available for semester- or quarter-long courses.
Principles of Economics is co-written by two master teachers, one of whom is a globally recognized policy expert and eminent scholar. This highly regarded textbook features a remarkably accessible presentation grounded in the central idea of economics: that people make purposeful choices with scarce resources and interact with others when they make these choices. This engaging text provides simple and precise descriptions of why markets are efficient when the incentives are right and inefficient when the incentives are wrong. In addition to their impeccable credentials, both authors possess recent and extensive classroom-based experiences, which gives rise to authentic real-world examples that enliven the book’s narrative and readily connect with students.
- About the Authors
- Acknowledgments
- Preface
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Chapter 1: The Central Idea
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Chapter 2: Observing and Explaining the Economy
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Chapter 3: The Supply and Demand Model
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Chapter 4: Subtleties of the Supply and Demand Model
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Chapter 5: The Demand Curve and the Behavior of Consumers
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Chapter 6: The Supply Curve and the Behavior of Firms
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Chapter 7: The Efficiency of Markets
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Chapter 8: Costs and the Changes at Firms Over Time
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Chapter 9: The Rise and Fall of Industries
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Chapter 10: Monopoly
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Chapter 11: Product Differentiation, Monopolistic Competition, and Oligopoly
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Chapter 12: Antitrust Policy and Regulation
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Chapter 13: Labor Markets
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Chapter 14: Taxes, Transfers, and Income Distribution
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Chapter 15: Public Goods, Externalities, and Government Behavior
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Chapter 16: Capital and Financial Markets
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Chapter 17: Macroeconomics: The Big Picture
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Chapter 18: Measuring the Production, Income, and Spending of Nations
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Chapter 19: The Spending Allocation Model
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Chapter 20: Unemployment and Employment
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Chapter 21: Productivity and Economic Growth
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Chapter 22: Economic Growth Around the World
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Chapter 23: Money and Inflation
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Chapter 24: The Nature and Causes of Economic Fluctuations
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Chapter 25: The Economic Fluctuations Model
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Chapter 26: Using the Economic Fluctuations Model
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Chapter 27: Fiscal Policy
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Chapter 28: Monetary Policy
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Chapter 29: International Trade
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Chapter 30: International Finance

Instructor’s Manual
The Instructor’s Manual guides you through the main concepts of each chapter and important elements such as learning objectives, key terms, and key takeaways. Can include answers to chapter exercises, group activity suggestions, and discussion questions.

PowerPoint Lecture Notes
A PowerPoint presentation highlighting key learning objectives and the main concepts for each chapter are available for you to use in your classroom. You can either cut and paste sections or use the presentation as a whole.

Test Generator - powered by Cognero
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Test Bank Files for Import to Learning Management Systems
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Test Item File
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Sample Syllabi
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