Table of ContentsPart 1: Introduction Chapter 1 Scarcity and ChoicePart 2: The MicroeconomyChapter 2 Market Transactions: Demand and Supply AnalysisChapter 3 Demand and Supply ApplicationsChapter 4 Production and the Costs of ProductionChapter 5 Competition and Monopoly: Virtues and VicesChapter 6 Imperfect CompetitionChapter 7 Labor MarketsChapter 8 Government and MarketsPart 3: The MacroeconomyChapter 9 The Mixed Economy of the United StatesChapter 10 Gross Domestic Product and Economic GrowthChapter 11 The Business Cycle, Unemployment, and InflationChapter 12 Macroeconomic Instability: Aggregate Demand and Aggregate SupplyChapter 13 Fiscal Policy and the Federal BudgetChapter 14 Money and the Banking SystemChapter 15 The Federal Reserve and Monetary PolicyPart 4: The International EconomyChapter 16 International Trade and the Global EconomyChapter 17 International FinanceChapter 18 Economic Systems and Developing Countries.

The 8th Edition of Contemporary Economics continues to offer a clear, concise presentation of basic micro- and macroeconomic theory. Emphasising how the discipline of economics connects to the world, the book takes a friendly and accessible tone, illustrating theory with applications. This new edition comes with updated applications and data to reflect the changing world events since the previous edition was published. With a vast range of updated applications, the handbook uses real world, globally relevant examples that make the subject easy to understand.