Economics, 8/e (Paperback)

Complete economics coverage shows students how economics is relevant to their lives
●NEW and UPDATED - Examples and policy discussions detail developments in US and world economies, including the longest economic expansion in the history of the US economy, the first significant international trade war since the 1930s, and record peacetime federal budget deficits — helping students become educated consumers, voters, and citizens.
●NEW and UPDATED - Chapter-opening Cases illustrate how the economic concepts presented in the text impact real-life businesses, including Nike, Apple, Lyft, and Whirlpool — providing a unifying theme for the chapter and sparking students’ interest. Students can also visit MyLab™ Economics to watch a brief video by author Glenn Hubbard that summarizes the key points of each chapter opener.
●Chapter-opening Economics in Your Life& Career boxes ask students to consider questions related to their lives and careers — adding a personal dimension to the material. 
●NEW and UPDATED - End-of-chapter Questions, Problems, and Critical Thinking Exercises help students build skills to analyze and interpret information and apply reasoning and logic to new or unfamiliar ideas and situations.

Student-focused features enhance understanding of key economic topics
●NEW - An Inside Look boxes in chapters 1 - 4 use news articles to teach students how to apply economic thinking to current events and policy debates. An excerpt of the article, step-by-step analysis, corresponding graph or table, and Thinking Critically exercise are provided. Additional articles are routinely posted to MyLab Economics. 
●NEW and UPDATED - Apply the Concepts features reinforce key concepts and help students interpret what they read in the news. Each Apply the Concept has a related question in the end-of-chapter Problems and Applications section. Students can then visit MyLab Economics to watch a brief video by author Glenn Hubbard that summarizes the key points of each. Twenty-seven new Apply the Concepts have been added and 73 have been revised in the 8th Edition. 
●Don’t Let This Happen to You boxes alert students to the most common pitfalls in the chapter’s material. This is followed up with a related question in the end-of-chapter Problems and Applications section. 
●NEW - Solved Problems show students how to solve an economic problem by breaking it down step by step. New to this edition are 7 Solved Problems and whiteboard videos of each Solved Problem that bring these real-world issues to life with audio, background photos, and construction of graphs and tables.
●UPDATED - Concept Checks, consisting of multiple-choacice, true/false, and fill-in-the-blank questions, act as “speed bumps” that encourage students to stop and check their understanding of fundamental terms and concepts before moving on to the next section. 
●UPDATED - 250 Figures, tables, and their animations provide clear insights into economic issues, and have been updated so students are working with the latest data available.
●End-of-Chapter Real-Time Data Exercises help students become familiar with a key data source (FRED™, the Federal Reserve Bank of St. Louis' site), learn how to locate data and develop skills in interpreting data.

Glenn Hubbard, policymaker, professor, and researcher. Hubbard is Dean emeritus and Russell L. Carson Professor of Finance and Economics in the Graduate School of Business at Columbia University and professor of economics in Columbias Faculty of Arts and Sciences. He is also a research associate of the National Bureau of Economic Research and a director of Automatic Data Processing, Black Rock Fixed-Income Funds, and MetLife. He received a PhD in economics from Harvard University in 1983. From 2001 to 2003, he served as chair of the White House Council of Economic Advisers and chair of the OECD Economic Policy Committee, and from 1991 to 1993, he was deputy assistant secretary of the US Treasury Department. He currently serves as co-chair of the nonpartisan Committee on Capital Markets Regulation. Hubbards fields of specialization are public economics, financial markets and institutions, corporate finance, macroeconomics, industrial organization, and public policy. He is the author of more than 100 articles in leading journals, including American Economic Review; Brookings Papers on Economic Activity; Journal of Finance; Journal of Financial Economics; Journal of Money, Credit, and Banking; Journal of Political Economy; Journal of Public Economics; Quarterly Journal of Economics; RAND Journal of Economics; and Review of Economics and Statistics. His research has been supported by grants from the National Science Foundation, the National Bureau of Economic Research, and numerous private foundations.

Tony OBrien, award-winning professor and researcher. OBrien is a professor of economics at Lehigh University. He received a PhD from the University of California, Berkeley, in 1987. He has taught principles of economics for more than 20 years, in both large sections and small honors classes. He received the Lehigh University Award for Distinguished Teaching. He was formerly the director of the Diamond Center for Economic Education and was named a Dana Foundation Faculty Fellow and Lehigh Class of 1961 Professor of Economics. He has been a visiting professor at the University of California, Santa Barbara, and the Graduate School of Industrial Administration at Carnegie Mellon University. OBriens research has dealt with issues such as the evolution of the US automobile industry, the sources of US economic competitiveness, the development of US trade policy, the causes of the Great Depression, and the causes of blackwhite income differences. His research has been published in leading journals, including American Economic Review; Quarterly Journal of Economics; Journal of Money, Credit, and Banking; Industrial Relations; Journal of Economic History; and Explorations in Economic History. His research has been supported by grants from government agencies and private foundations.

PART 1: INTRODUCTION
1. Economics: Foundations and Models
Appendix: Using Graphs and Formulas
2. Trade-offs, Comparative Advantage, and the Market System
3. Where Prices Come From: The Interaction of Demand and Supply
4. Economic Efficiency, Government Price Setting, and Taxes
Appendix: Quantitative Demand and Supply Analysis
PART 2: MARKETS IN ACTION: POLICY AND APPLICATIONS
5. Externalities, Environmental Policy, and Public Goods
6. Elasticity: The Responsiveness of Demand and Supply
7. The Economics of Health Care
PART 3: FIRMS IN THE DOMESTIC AND INTERNATIONAL ECONOMIES
8. Firms, the Stock Market, and Corporate Governance
Appendix: Present Value
Online Appendix: Tools to Analyze Firms Financial Information
9. Comparative Advantage and the Gains from International Trade
PART 4: MICROECONOMIC FOUNDATIONS: CONSUMERS AND FIRMS
10. Consumer Choice and Behavioral Economics
Appendix: Using Indifference Curves and Budget Lines to Understand Consumer Behavior
11. Technology, Production, and Costs
Online Appendix: Using Isoquants and Isocost Lines to Understand Production and Cost
PART 5: MARKET STRUCTURE AND FIRM STRATEGY
12. Firms in Perfectly Competitive Markets
13. Monopolistic Competition: The Competitive Model in a More Realistic Setting
14. Oligopoly: Firms in Less Competitive Markets
15. Monopoly and Antitrust Policy
PART 6: LABOR MARKETS, PUBLIC CHOICE, AND THE DISTRIBUTION OF INCOME
16. The Markets for Labor and Other Factors of Production
17. Public Choice, Taxes, and the Distribution of Income
PART 7: MACROECONOMIC FOUNDATIONS AND LONG-RUN GROWTH
18. GDP: Measuring Total Production and Income
19. Unemployment and Inflation
20. Economic Growth, the Financial System, and Business Cycles
21. Long-Run Economic Growth: Sources and Policies
PART 8: SHORT-RUN FLUCTUATIONS
22. Aggregate Expenditure and Output in the Short Run
Appendix: The Algebra of Macroeconomic Equilibrium
23. Aggregate Demand and Aggregate Supply Analysis
Appendix: Macroeconomic Schools of Thought
PART 9: MONETARY AND FISCAL POLICY
24. Money, Banks, and the Federal Reserve System
25. Monetary Policy
26. Fiscal Policy
Appendix: A Closer Look at the Multiplier
27. Inflation, Unemployment, and Federal Reserve Policy
PART 10: THE INTERNATIONAL ECONOMY
28. Macroeconomics in an Open Economy
Online Appendix: The Gold Standard and the Bretton Woods System