Modern Principles of Economics
by Tyler Cowen, Alex Tabarrok
5th Edition
Publisher: Worth Publishers
Book Details
| Print ISBN | 9781319245399 |
| eText ISBN | 9781319329464 |
| Publisher | Worth Publishers |
| Publishing Year | 2021 |
| Edition | 5th Edition |
| Language | English |
| Pages | 960 |
Modern Principles of Economics, 5th Edition, is an introductory college textbook that presents fundamental principles of microeconomics and macroeconomics. Written by Tyler Cowen and Alex Tabarrok, the text provides structured coverage of core analytical concepts for undergraduate study.
The volume examines supply and demand fundamentals, market equilibrium, elasticity, and government interventions such as taxes and subsidies. Macroeconomic coverage addresses national progress measurement through gross domestic product, capital accumulation, business fluctuations, and fiscal and monetary policies.
Widely used across colleges and universities nationwide, the 960-page textbook supports classroom instruction. The digital edition on the VitalSource Bookshelf platform provides built-in study tools such as text highlights and a read-aloud function.
Table of Contents
Chapter 1: The Big Ideas in Economics
Chapter 2: The Power of Trade and Comparative Advantage
Chapter 3: Supply and Demand
Chapter 4: Equilibrium: How Supply and Demand Determine Prices
Chapter 5: Elasticity and Its Applications
Chapter 6: Taxes and Subsidies
Chapter 7: The Price System: Signals, Speculation, and Prediction
Chapter 8: Price Ceilings and Floors
Chapter 9: International Trade
Chapter 10: Externalities: When the Price Is Not Right
Chapter 11: Costs and Profit Maximization under Competition
Chapter 12: Competition and the Invisible Hand
Chapter 13: Monopoly
Chapter 14: Price Discrimination and Pricing Strategy
Chapter 15: Oligopoly and Game Theory
Chapter 16: Networks, Platforms, and the Economics of “Free Goods”
Chapter 17: Monopolistic Competition and Advertising
Chapter 18: Labor Markets
Chapter 19: Public Goods and the Tragedy of the Commons
Chapter 20: Political Economy and Public Choice
Chapter 21: Economics, Ethics, and Public Policy
Chapter 22: Managing Incentives
Chapter 23: Stock Markets and Personal Finance
Chapter 24: Asymmetric Information: Moral Hazard and Adverse Selection
Chapter 25: Consumer Choice
Chapter 26: GDP and the Measurement of Progress
Chapter 27: The Wealth of Nations and Economic Growth
Chapter 28: Growth, Capital Accumulation, and the Economics of Ideas: Catching Up vs. the Cutting Edge
Chapter 29: Saving, Investment, and the Financial System
Chapter 30: Unemployment and Labor Force Participation
Chapter 31: Inflation and the Quantity Theory of Money
Chapter 32: Business Fluctuations: Aggregate Demand and Supply
Chapter 33: Transmission and Amplification Mechanisms
Chapter 34: The Federal Reserve System and Open Market Operations
Chapter 35: Monetary Policy
Chapter 36: The Federal Budget: Taxes and Spending
Chapter 37: Fiscal Policy
Chapter 38: International Finance
Chapter APPENDIX A: Reading Graphs and Making Graphs
Chapter APPENDIX B: Solutions to Check Yourself
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