Economics : principles, problems, and policies / Campbell R. McConnell, Stanley L. Brue.

Includes glossary and index.

Includes bibliographical references and index.

Part 1 An introduction to economics and the economy: the nature and method of economics; the economizing problem; understanding individual markets - demand and supply; pure capitalism and the market system; the mixed economy - private and public sectors; the United States in the global economy. Part 2 National income, employment and fiscal policy: measuring domestic output, national income and the price level; macroeconomic instability - unemployment and inflation; building the aggregate expenditures model; aggregate expenditures - the multiplier, net exports and government; aggregate demand and aggregate supply; fiscal policy. Part 3 Money, banking and monetary policy: money and banking; how banks create money; the federal reserve; alternative views on macro theory and policy; the inflation-unemployment relationship.

Known for clarity, patience, balance and step-by-step presentations of difficult topics, "Economics" has defined excellence among textbooks and remains the best-selling Priciples of Economics Text. In this new edition, the authors have continued to consolidate material, keeping the text among the shortest available, while focusing on three primary areas of change: internationalization and thorough updating of the presentation; a comprehensive restructuring of macroecomonics; and the addition of new pedagogical features to help students get the most from every chapter. New coverage includes two new chapters: the United States in the global economy and health care economics. Many new "Last Word" mini-readings on topics such as Cuba's declining production possibilities, ticket scalping, the use of the dollar around the world, the DeBeer's diamond monopoly, physicians vs. economists on health care reform, and China as an emerging economic power have been added. In addition, the text will now feature new global perspective charts and tables in most chapters, comparing the US economy to other economies. -- From product description.