Pearson eText Access Card -- Pearson MyLab Finance for Economics [Global Edition]

Michael Parkin is Professor Emeritus in theDepartment of Economics at the University of Western Ontario, Canada. ProfessorParkin has held faculty appointments at Brown University, the University ofManchester, the University of Essex, and Bond University. He is a pastpresident of the Canadian Economics Association and has served on the editorialboards of the American Economic Review and the Journal ofMonetary Economics and as managing editor of the CanadianJournal of Economics.   Professor Parkin's research on macroeconomics, monetary economics,and international economics has resulted in over 160 publications in journalsand edited volumes, including the American Economic Review, the Journalof Political Economy, the Review of Economic Studies, the Journalof Monetary Economics, and the Journal of Money, Credit andBanking. He became most visible to the public with his work oninflation that discredited the use of wage and price controls. Professor Parkinalso spearheaded the movement toward European monetary union. Professor Parkinis an experienced and dedicated teacher of introductory economics.

PART 1: INTRODUCTION

What is Economics?
The Economic Problem

  PART 2: HOW MARKETS WORK

Demand and Supply
Elasticity
Efficiency And Equity
Government Actions in Markets
Global Markets in Action

  PART 3: HOUSEHOLDS' CHOICES

Utility and Demand
Possibilities, Preferences, and Choices

  PART 4: FIRMS AND MARKETS

Organizing Production
Output and Costs
Perfect Competition
Monopoly
Monopolistic Competition
Oligopoly

  PART 5: MARKET FAILURE ANDGOVERNMENT

Public Choices, Public Goods, and Healthcare
Externalities

  PART 6: FACTOR MARKETS,INEQUALITY, AND UNCERTAINTY

Markets for Factors of Production
Economic Inequality
Uncertainty and Information

  PART 7: MONITORING MACROECONOMICPERFORMANCE

Monitoring the Value of Production: GDP
Monitoring Jobs and Inflation

  PART 8: MACROECONOMIC TRENDS

Economic Growth
Finance, Saving, and Investment
Money, the Price Level, and Inflation
The Exchange Rate and the Balance of Payments

  PART 9: MACROECONOMIC FLUCTUATIONS

Aggregate Supply and Aggregate Demand
Expenditure Multipliers
The Business Cycle, Inflation, and Deflation

  PART 10: MACROECONOMIC POLICY

Fiscal Policy
Monetary Policy