Economics: A Tool for Critically Understanding Society

TheEighth EditionofEconomics: A Tool for Critically Understanding Societyoffers a clear, simple introduction to economic analysis in a style that is ideal for a one-semester introductory course. The authors take a historical perspective, presenting economic theories and their connections to schools of economic thought. The goal is to help students use economic concepts to analyze todayrs"s issues, to think about everyday decisions, and to examine their preconceived ideas and beliefs.Economics as a Tool for Critical Thinking in a Changing Global Economy:Economics as a Social Science; Exploring the Emerging Global Economy.Economic History and the Development of Modern Economic Thought:The Evolution of Economic Systems; Property, Adam Smith, and the Division of Labor; The Rise and Fall of Laissez-Faire; The Marxian Critique of Capitalism.Microeconomics:Scarcity: "You Can't Always Get What You Want"; The Theory of Markets;Perfect Competition and Efficiency; Noncompetitive Markets and Inefficiency; Resource Markets and the Distribution of Income; Corporations and Labor Unions; The Economic Role of Government.Macroeconomics:Macroeconomics: Issues and Problems; Macroeconomic Theory: Classical and Keynesian Models; Fiscal Policy: Government Spending and Taxation; Financial Markets, Money, and Monetary Policy; Aggregate Demand and Aggregate Supply; Unemployment, Inflation, and Stabilization Policy in a Global Economy.International Economics and Finance:International Trade and Interdependence; International Finance; The Economics of Developing Nations; Economic Systems in Transition.For all readers interested in one-semester economics.