Economics: Principles, Applications, and Tools / by Arthur O'Sullivan, Stephen Perez, Steven Sheffrin

Introduction and key principles The basic concepts in macroeconomics The economy in the long run Economic fluctuations and fiscal policy Money, banking, and monetary policy Inflation, unemployment, and economic policy The international economy A closer look at demand and supply Market structures and pricing Externalities and information The labor market and income distribution

In preparing this ninth edition, we had three primary goals. First, we wanted to incorporate the sweeping changes in the United States and world economies we have all witnessed in the last several years, and the difficulties that the world economics have continued to experience in recovering from the severe economic downturn. Second, we strived to update this edition to reflect the latest exciting developments in economic thinking and make these accessible to new students of economics. Finally, we wanted to stay true to the philosophy of the textbook-using basic concepts of economics to explain a wide variety of timely and interesting economic applications.