The goal of this text has always been to provide students with a solid introduction to the economic issues facing the world today, the methods economists use to study those issues, and the policy problems those issues create. Maintaining the earlier editions' comprehensive examination of the subject, this new edition has been streamlined to make the information more accessible to students. This edition includes updated information on employment, unemployment, the impact of technological change, the costs and benefits of foreign investments, Social Security, debts and deficits, and free trade. The authors have also increased their focus on globalization and international economic growth to expand students' understanding of worldwide issues. Features Extensions offer brief supplemental treatment of covered topics.
Applications provide examples of how theoretical material relates to the real world.
Mathematical notes are collected in a separate section at the end of the book. They are provided to serve the growing number of students who have some background in math without putting off those who do not. Appendixes contain optional material that augments the text coverage. Each chapter includes a summary, list of topics for review, and discussion questions. The questions are designed for class discussions or quizzes.