A Reputation for Clear Critical Thinking

An increased emphasis on the global economy:
- AD/AS model in an open economy framework.
- Comparisons of the U. S. with other industrial economics.
- Up-to-date analysis of the Soviet economy as well as recent changes in Eastern Europe.
- Many statistical comparisons across countries.

New macroeconomic coverage:
- Economics performance of major industrial economics.
- Recent developments and current problems in the banking industry.
- Nominal interest rates.
- Expected future earnings and asset values.

Expanded macroeconomics discussions:
- Budget deficits
- Productivity slowdowns
- Union memberships
- Environmental economics

New microeconomics coverage:
- The difficulty of characterizing business practices (such as predatory pricing) as competition-enhancing or competition-harming.
- The importance of property rights as a tool for resource protection.

Plus the reliable features that continue to foster active student learning:
- "Myths of Economics"
- "Measures of Economic Activity"
- "Applications in Economics"
- "Outstanding Economist"
- "Critical Analysis Questions"
- "Chapter Focus Questions" 

Language: English